Real Estate Investment Trust in the United States
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]
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]
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 2008, the company acquired Del Mar Village in Boca Raton, Florida for $41.7 million.[3]
In 2012, the company acquired a controlling interest in Montrose Crossing, a property in Rockville, Maryland for $127 million[4] and a controlling interest in a property in El Segundo, California for $183.5 million.[5]
In 2013, the company sold a movie theater in Forest Hills, New York for $20.5 million.[6]
In 2014, the company acquired 2 shopping centers in Monmouth County, New Jersey for $161 million.[7]
In 2015, the company acquired an 85% interest in The Shops at Sunset Place based on a property valuation of $110.2 million.[8]
In 2016, the company was added to the S&P 500 Index.[9]
In 2017, the company acquired a property in Pasadena, California for $29.5 million.[10][11] The company also acquired Riverpoint Center in Chicago, Illinois for $107 million[12] and 7 properties in Los Angeles County for $345 million.[13][14]
In 2021, the company acquired a 60% ownership stake in Grossmont Center in La Mesa, California worth $175 million.[1]
$951 million (2021)