Federal Realty Investment Trust is a

real estate investment trust A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping cente ...

that invests in shopping centers in the Northeastern United States, the Mid-Atlantic states,

California California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the most populous U.S. state and the 3rd largest by area. It is also the m ...

, and South Florida.

Investments

As of December 31, 2021, the company owned interests in 104 shopping centers containing 25.1 million square feet. Notable properties owned by the company include:

History

In 1962, the company was founded by Samuel J. Gorlitz in

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In 1999, the company was reorganized as a real estate investment trust in

Maryland Maryland ( ) is a state in the Mid-Atlantic region of the United States. It shares borders with Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware and the Atlantic Ocean to ...

. In 2007, founder Samuel J. Gorlitz died. In 2008, the company acquired Del Mar Village in Boca Raton, Florida for $41.7 million. In 2012, the company acquired a controlling interest in Montrose Crossing, a property in Rockville, Maryland for $127 million and a controlling interest in a property in El Segundo, California for $183.5 million. In 2013, the company sold a movie theater in

Forest Hills, New York Forest Hills is a mostly residential neighborhood in the central portion of the borough of Queens in New York City. It is adjacent to Corona to the north, Rego Park and Glendale to the west, Forest Park to the south, Kew Gardens to the southeas ...

for $20.5 million. In 2014, the company acquired 2 shopping centers in

Monmouth County, New Jersey Monmouth County () is a county located on the coast of central New Jersey. The county is part of the New York metropolitan area and is situated along the northern half of the Jersey Shore. As of the 2020 U.S. census, the county's population wa ...

for $161 million. In 2015, the company acquired an 85% interest in The Shops at Sunset Place based on a property valuation of $110.2 million. In 2016, the company was added to the

S&P 500 Index The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices. As of D ...

. In 2017, the company acquired a property in Pasadena, California for $29.5 million. The company also acquired Riverpoint Center in

Chicago, Illinois (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...

for $107 million and 7 properties in Los Angeles County for $345 million. In 2021, the company acquired a 60% ownership stake in

Grossmont Center Grossmont Center is an outdoor shopping mall in La Mesa, California, a suburb in East County, San Diego. The mall opened in 1961 and is managed by Federal Realty Investment Trust. The anchor stores are Target, Macy's, RH Outlet, Walmart, Barne ...

in La Mesa, California worth $175 million.

References

External links

{{Authority control American companies established in 1962 Real estate companies established in 1962 Financial services companies established in 1962 1962 establishments in Washington, D.C. Companies based in Rockville, Maryland Companies listed on the New York Stock Exchange Real estate investment trusts of the United States