Federal Realty Investment Trust

Last updated
Federal Realty Investment Trust
Company type Public
Industry Real estate investment trust
Founded1962;63 years ago (1962)
FounderSamuel J. Gorlitz
Headquarters Rockville, Maryland, U.S.
Key people
David Faeder (Chairman)
Donald C. Wood (CEO & President)
Daniel Guglielmone (CFO)
Products Shopping centers
RevenueIncrease2.svg US$951 million (2021)
Increase2.svg US$269 million (2021)
Total assets Increase2.svg US$7.622 billion (2021)
Total equity Increase2.svg US$2.663 billion (2021)
Number of employees
315 (2021)
Website federalrealty.com
Footnotes /references
[1]

Federal Realty Investment Trust is a real estate investment trust that invests in shopping centers in the Northeastern United States, the Mid-Atlantic states, California, and South Florida. [1]

Contents

Investments

As of December 31, 2021, the company owned interests in 104 shopping centers containing 25.1 million square feet. [1]

Notable properties owned by the company include: [1]

Property NameLocation
Santana Row San Jose, California
Westgate Center San Jose, California
The Shops at Sunset Place South Miami, Florida
The Grove at Shrewsbury Shrewsbury, New Jersey
Assembly Square Somerville, Massachusetts
Third Street Promenade Santa Monica, California
Grossmont Center La Mesa, California
Pike & Rose North Bethesda, Maryland
CocoWalk Miami, Florida
The Village at Shirlington Arlington, Virginia

History

In 1962, the company was founded by Samuel J. Gorlitz in Washington, D.C. [2] [1] In 1999, the company was reorganized as a real estate investment trust in Maryland. [1] In 2007, founder Samuel J. Gorlitz died. [2] In 2015, the company acquired an 85% interest in The Shops at Sunset Place based on a property valuation of $110.2 million. [3] In 2021, the company acquired a 60% ownership stake in Grossmont Center in La Mesa, California worth $175 million. [4]

References

  1. 1 2 3 4 5 6 "Federal Realty Investment Trust 2021 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. 1 2 "Samuel J. Gorlitz, 89; Started Investment Trust". The Washington Post . January 16, 2007.
  3. ↑ "Federal Realty Acquires High-Profile Mixed-Use Center In South Miami, Florida" (Press release). PR Newswire. October 1, 2015.
  4. ↑ Hirsh, Lou (August 17, 2021). "REIT Plans Redevelopment After Buying Retail Mall Near San Diego" . CoStar Group .
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