federal realty invs trust (FRT) Key Developments
Federal Realty Investment Trust Announces Redemption of 6.20% Senior Unsecured Notes Due 2017
Apr 16 15
Federal Realty Investment Trust announced the redemption of its 6.20% Senior Unsecured Notes due 2017 for aggregate principal of $200 million which was completed effective April 11, 2015. The redemption price was determined in accordance with the applicable indenture and was approximately $222.2 million, including $3.0 million of accrued and unpaid interest. Excluding such accrued and unpaid interest, the redemption price was approximately 109.6% of the principal amount being redeemed resulting in a prepayment premium of $19.2 million. The notes were repaid with proceeds from the $200 million aggregate principal amount 4.50% senior unsecured notes due December 1, 2044 that were issued in March 2014 at a price of 105.379% of the principal amount and an effective yield to maturity of 4.179%.
Penny’s Building Is Up For Sale
Mar 12 15
Penny’s building at 401 E. Houston St. is up for sale. Also known as Burns, the five-story, 58,000-square-foot structure recently was put on the market by Federal Realty Investment Trust (NYSE:FRT). Rumors among Houston Street intelligentsia persist that Federal Realty has found a San Antonio buyer, but so far, zilch from the group.
Federal Realty Trust Presents at 18th Annual Wells Fargo Real Estate Securities Conference, Feb-25-2015
Feb 17 15
Federal Realty Trust Presents at 18th Annual Wells Fargo Real Estate Securities Conference, Feb-25-2015 . Venue: Th Plaza Hotel, 5th Ave at Central, Park South, New York, NY 10019, United States.
Federal Realty Investment Trust Announces Board Promotions
Feb 11 15
Federal Realty Investment Trust announced that Donald T. Briggs has been promoted to Executive Vice President, Development for the Trust, and will oversee the prioritization and resource allocation of all of the Trust's new and re-development efforts on the East Coast. Mr. Briggs has served in various roles at the Trust over the past 16 years and was most recently responsible for the design, planning and execution of the Trust's large mixed use initiatives at Assembly Row and Pike & Rose. John R. Tschiderer has been promoted to Senior Vice President, Development for the Trust; he oversees the planning, design and execution of dozens of value-enhancing redevelopment projects in both mixed use and core shopping center portfolios throughout the East Coast. Mr. Tschiderer is and will remain based in Federal Realty's headquarters office in Rockville, Md. and will report to Mr. Briggs. Mr. Tschiderer has been with the Trust for 17 years and is responsible for such successful re-developments as Eastgate Shopping Center, Barracks Road Shopping Center, The Shops at Willow Lawn, and Congressional Plaza.
Federal Realty Investment Trust Creates New Core Shopping Center and Mixed Use Divisions; Announces Executive Changes
Feb 11 15
Federal Realty Investment Trust announced the creation of new core shopping center and mixed use divisions within its East Coast portfolio as well as key promotions within operations and leasing to further decentralize management and align and reward talented executives at the real estate level. John M. Hendrickson has been promoted to Senior Vice President-Mixed Use Division and will oversee the operations of the Trust's growing mixed use portfolio on the East Coast, which includes Assembly Row, Bethesda Row, Pike & Rose and Village at Shirlington, as well as future potential mixed use projects such as Pike 7 and Montrose Crossing. Mr. Hendrickson most recently serving as Chief Operating Officer of the Northeast Region. Stuart Biel has been promoted to Vice President of Leasing—Mixed Use Division. In his new role, Mr. Biel will report to Mr. Hendrickson and lead the Trust's mixed use leasing efforts on the East Coast. Since joining the Trust in 2005. Wendy Seher has been promoted to Senior Vice President of Leasing— Core Shopping Center Division, where she will manage and oversee all day-to-day leasing activities across the Trust's core shopping center portfolio on the East Coast. Ms. Seher has been with Federal since 2002, and has over 25 years of experience in the retail leasing industry. Deirdre Johnson has been promoted to Vice President of Asset Management – Core Shopping Center Division, where she will manage and oversee the day to day operations of a 3 million square foot portfolio of assets. In her 8 years with the Trust, Ms. Johnson has been instrumental to the success of assets such as The Shops at Willow Lawn, Barracks Road Shopping Center, Eastgate Shopping Center and Rockville Town Square.