ROCKVILLE, Md., Dec. 1 /PRNewswire-FirstCall/ -- Federal Realty Investment Trust (NYSE: FRT) today announced that Edward Senenman has joined the Trust to source investment opportunities in the Northeast Region. Mr. Senenman will be based in Manhattan and be responsible for acquiring high-quality retail properties that meet Federal Realty's investment criteria in the Trust's Northeast region, which extends from Boston to Philadelphia.
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"Ed's significant experience, existing relationships, and market knowledge in metropolitan New York and the entire Northeast enhance our ability to pursue high-quality investments in this region," said Jeff Berkes, executive vice president - chief investment officer for Federal Realty. "With significant capital available to invest, we're excited to welcome Ed to Federal Realty's acquisitions team."
Prior to joining the Trust, Mr. Senenman served as vice president of acquisitions for Kimco Realty Corporation where he was involved in the acquisition of shopping centers totaling several billion dollars. Mr. Senenman received both an MBA in Finance and BBA in Accounting from Hofstra University and has more than 20 years of experience in all facets of retail property acquisitions, property valuations, asset management, and development.
Federal Realty's investment strategy focuses on acquiring properties that provide evidence of strong re-leasing and/or redevelopment potential. The Trust seeks to acquire high-quality retail assets in affluent and densely populated areas with significant barriers to entry in its core markets along the East and West Coasts. For more information and to review Federal Realty's acquisition criteria, please visit http://www.federalrealty.com/acquisitions.
About Federal Realty
Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management and redevelopment of high quality retail assets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 18.2 million square feet located primarily in strategically selected metropolitan markets in the Northeast, Mid-Atlantic, and California. 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 94.2% leased to national, regional, and local retailers as of September 30, 2009, with no single tenant accounting for more than approximately 2.6% 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 42 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.
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