Federal Realty Investment Trust
Real Estate Investment Trust in the United States From Wikipedia, the free encyclopedia
Real Estate Investment Trust in the United States From Wikipedia, the free encyclopedia
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]
 | |
| |
| Company type | Public company |
|---|---|
| NYSE: FRT S&P 500 Index component | |
| Industry | Real estate investment trust |
| Founded | 1962 |
| Founder | Samuel J. Gorlitz |
| Headquarters | Rockville, Maryland |
Key people | David Faeder, Chairman Donald C. Wood, CEO & President Daniel Guglielmone, CFO |
| Products | Shopping centers |
| Revenue |  $951 million (2021) |
| $269 million (2021) | |
| Total assets | $7.622 billion (2021) |
| Total equity | $2.663 billion (2021) |
Number of employees | 315 (2021) |
| Website | www |
| Footnotes / references [1] | |
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][2]
In 1962, the company was founded by Samuel J. Gorlitz in Washington, D.C.[3][1]
In 1999, the company was reorganized as a real estate investment trust in Maryland.[1]
In 2007, founder Samuel J. Gorlitz died.[3]
In 2008, the company acquired Del Mar Village in Boca Raton, Florida for $41.7 million.[4]
In 2012, the company acquired a controlling interest in Montrose Crossing, a property in Rockville, Maryland for $127 million[5] and a controlling interest in a property in El Segundo, California for $183.5 million.[6]
In 2013, the company sold a movie theater in Forest Hills, New York for $20.5 million.[7]
In 2014, the company acquired 2 shopping centers in Monmouth County, New Jersey for $161 million.[8]
In 2015, the company acquired an 85% interest in The Shops at Sunset Place based on a property valuation of $110.2 million.[9]
In 2016, the company was added to the S&P 500 Index.[10]
In 2017, the company acquired a property in Pasadena, California for $29.5 million.[11][12] The company also acquired Riverpoint Center in Chicago, Illinois for $107 million[13] and 7 properties in Los Angeles County for $345 million.[14][15]
In 2021, the company acquired a 60% ownership stake in Grossmont Center in La Mesa, California worth $175 million.[1]
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