ROCKVILLE, Md., May 26, 2015 /PRNewswire/ -- Federal Realty announced today the appointment of three executive positions to supplement its core portfolio operating team.
Jeffrey S. Mooallem has been named Senior Vice President, Managing Director Core Shopping Center Operations and will report directly to President and CEO Donald C. Wood. Mr. Mooallem will be based in the Trust's Headquarters in Rockville, Md and brings over 20 years of real estate experience in operations, leasing, acquisitions, and development with such leading companies as Equity One and Turnberry Associates. He will be responsible for 58 shopping centers comprising 11 million square feet and generating nearly a quarter billion dollars of property level operating income from the Boston suburbs through metropolitan Washington DC including portfolios in Philadelphia, Baltimore, New York and New Jersey. Mr. Mooallem holds a B.S. from Boston University and a law degree from Fordham University. He joins the Trust on June 8, 2015.
Jarett L. Parker has been named Vice President, Asset Management Metro DC Region and will report directly to Mr. Mooallem. Mr. Parker will be primarily responsible for the performance of the Trust's Metro DC shopping center portfolio, comprised of 17 assets representing over 3 million square feet and generating over $90 million of property level operating income. Mr. Parker comes from Kimco Realty Corp, where he spent the last nine years in various positions culminating in Director of Asset Management for a portfolio in the mid-atlantic region. Mr. Parker holds a B.S. from University of Maryland University College and a masters degree from Johns Hopkins Carey School of Business. He joins the Trust on June 8, 2015.
Michael R. Linson has been named Vice President Finance for the Core Shopping Center Division and will report directly to Mr. Mooallem with a dotted line to CFO James Taylor. Mr. Linson comes from the Penzance Company, a leading Washington D.C. based real estate investment company where he served as their Senior Vice President of Asset Management and the Mills Corporation (prior to that company's acquisition by Simon property Group) before that. Mr. Linson holds an undergraduate degree from Loyola College and an MBA from the University of Chicago Booth School of Business. He joins the Trust on June 4, 2015.
"The hiring of these three executives was the result of a thorough search process where an assessment of their ability to work well and relate to each other as well as with our existing team was as critical as their skills and resume", said Don Wood, Federal Realty's President and CEO. "I couldn't be more excited about the firepower that these three executives, when coupled with executives Wendy Seher, John Tschiderer, Deirdre Johnson, Scott Hall and Chris Fleming and their teams, bring to Federal's fast growing platform. This is as powerful an operating team as there is in our business."
About Federal Realty
Federal Realty 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 San Francisco and Los Angeles. Founded in 1962, our mission is to deliver long term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply. Our expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 90 properties include over 2,600 tenants, in approximately 21 million square feet, and 1500 residential units.
Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 47 consecutive years, the longest record in the REIT industry. Federal Realty shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.FederalRealty.com.
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SOURCE Federal Realty Investment Trust