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Published:
Federal Realty Acquires Courtyard Shops in Wellington, FloridaROCKVILLE, Md., Sept. 8 /PRNewswire-FirstCall/ -- Federal Realty
Investment Trust (NYSE: FRT) today announced the acquisition of Courtyard
Shops, a 127,000 square foot Publix-anchored neighborhood shopping center
located inWellington,Florida, an affluent community in centralPalm Beach
County, Florida. Federal Realty acquired the property from an institutional
owner for (Logo: http://www.newscom.com/cgi-bin/prnh/20050907/DCW070LOGO ) Courtyard Shops boasts average household incomes in excess of "The acquisition of Courtyard Shops demonstrates our selective focus with
respect to our expansion intoSouth Florida," said Courtyard Shops was built in 1990 and expanded in 1998 and is anchored by a 49,000 square foot Publix supermarket. Publix, the largest and fastest-growing employee-owned supermarket chain inthe United States, is the dominant grocer inSouth Florida. About Federal Realty Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management, development, and redevelopment of high quality retail assets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 18.5 million square feet located primarily in strategically selected metropolitan markets in the Northeast, Mid-Atlantic, andCalifornia. In addition, the Trust has an ownership interest in approximately 1.0 million square feet of retail space through a joint venture in which the Trust has a 30% interest. Our operating portfolio (excluding joint venture properties) was 95.8% leased to national, regional, and local retailers as of June 30, 2008, with no single tenant accounting for more than approximately 2.7% of annualized base rent. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 41 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P MidCap 400 company and its shares are traded on the NYSE under the symbol FRT.
Investor and Media Inquiries
Gina Birdsall Janelle Stevenson
Investor Relations Corporate Communications
301/998-8265 301/998-8185
gbirdsall@federalrealty.com jmstevenson@federalrealty.com
SOURCE Federal Realty Investment Trust Tags: ,RLT,FIN,REA,TNM,RLE,MD-FederalRealty-acq _ _Is your favorite bookmark site missing? Ask for it. |
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