Federal Realty Investment Trust Announces Acquisition Of Kingstowne Towne Center In Northern Virginia
Federal Realty Investment Trust Announces Acquisition Of Kingstowne Towne Center In Northern Virginia
04/21/22, 8:06 PM
Federal Realty Investment Trust (NYSE: FRT) is acquiring Kingstowne Towne Center in Kingstowne, Virginia for a total purchase price of $200 million. The acquisition will close in two phases. Federal Realty has closed on phase one of the acquisition for $100 million and expects to close on phase two for $100 million in July, subject to customary closing conditions. Combined, the property comprises 410,000 square feet of retail space on 45 acres of land.
Company Info
Company info
Federal Realty Investment Trust is a recognized leader in the ownership, operation, and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as Northern and Southern California. Founded in 1962, Federal Realty's mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply.