Federal Realty Investment Trust Announces Pricing of $150 Million Senior Unsecured Notes Offering
Federal Realty intends to use the net proceeds from the offering to fund potential acquisition opportunities, fund its redevelopment pipeline, reduce amounts outstanding under its term loan, and/or for general corporate purposes.
A copy of the final prospectus supplement and prospectus relating to these
securities may be obtained, when available, by contacting
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement.
About Federal Realty
Safe Harbor Language
Certain matters discussed within this press release may be deemed to be
forward-looking statements within the meaning of the federal securities laws.
Although Federal Realty believes the expectations reflected in the
forward-looking statements are based on reasonable assumptions, it can give no
assurance that its expectations will be attained. These factors include, but
are not limited to, the risk factors described in Federal Realty's Annual
Report on Form 10-K filed on
-- risks that Federal Realty's tenants may not pay rent, may vacate early or may file for bankruptcy, or that Federal Realty may be unable to renew leases or re-let space at favorable rents as leases expire; -- risks that Federal Realty may not be able to proceed with or obtain necessary approvals for any redevelopment or renovation project, and that any redevelopment or renovation project that Federal Realty does pursue may not perform as anticipated; -- risks that the number of properties Federal Realty acquires for its own account, and therefore the amount of capital Federal Realty invests in acquisitions, may be impacted by its real estate partnership; -- risks normally associated with the real estate industry, including risks that: -- occupancy levels at Federal Realty's properties and the amount of rent that Federal Realty receives from its properties may be lower than expected, -- completion of anticipated or ongoing property redevelopments or renovations may cost more, take more time to complete, or fail to perform as expected, -- new acquisitions may fail to perform as expected, -- competition for acquisitions could result in increased prices for acquisitions, -- environmental issues may develop at Federal Realty's properties and result in unanticipated costs, and -- because real estate is illiquid, Federal Realty may not be able to sell properties when appropriate; -- risks that Federal Realty's growth will be limited if it cannot obtain additional capital; -- risks of financing, such as Federal Realty's ability to consummate additional financings or obtain replacement financing on terms that are acceptable to Federal Realty, its ability to meet existing financial covenants and the limitations imposed on its operations by those covenants, and the possibility of increases in interest rates that would result in increased interest expense; and -- risks related to Federal Realty's status as a real estate investment trust, commonly referred to as a REIT, for federal income tax purposes, such as the existence of complex tax regulations relating to its status as a REIT, the effect of future changes in REIT requirements as a result of new legislation, and the adverse consequences of the failure to qualify as a REIT.
Given these uncertainties, readers are cautioned not to place undue
reliance on any forward-looking statements that Federal Realty makes,
including those in this press release. Except as may be required by law,
Federal Realty makes no promise to update any of the forward-looking
statements as a result of new information, future events or otherwise. You
should carefully review the risks and risk factors included in Federal
Realty's Annual Report on Form 10-K filed
Investor and Media Inquiries
Gina BirdsallInvestor Relations 301/998-8265 firstname.lastname@example.org
Federal Realty Investment Trust-0- 08/10/2009/CONTACT: Investor and Media Inquiries, Gina Birdsall, Investor Relations of Federal Realty, +1-301-998-8265, email@example.com/ /Photo: http://www.newscom.com/cgi-bin/prnh/20050907/DCW070LOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, firstname.lastname@example.org/ /Web Site: http://www.federalrealty.com / (FRT) CO: Federal Realty Investment TrustST: MarylandIN: RLT RRL CRL REA FIN SU: OFR PR -- PH59334 -- 3134 08/10/2009 13:15 EDThttp://www.prnewswire.com