Federal Realty Investment Trust
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]
| |
 | |
| Type | Public |
|---|---|
| Industry | Real estate investment trust |
| Founded | 1962 |
| Founder | Samuel J. Gorlitz |
| Headquarters | Rockville, Maryland, U.S. |
Key people | David Faeder (Chairman) Donald C. Wood (CEO & President) Daniel Guglielmone (CFO) |
| Products | Shopping centers |
| Revenue |  US$951 million (2021) |
| US$269 million (2021) | |
| Total assets | US$7.622 billion (2021) |
| Total equity | US$2.663 billion (2021) |
Number of employees | 315 (2021) |
| Website | federalrealty |
| Footnotes [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 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]