ROCKVILLE, Md., Oct. 1 /PRNewswire-FirstCall/ -- Federal Realty Investment Trust (NYSE: FRT) today announced that Don Briggs, senior vice president, development, will head the Trust's Boston office effective October 5, 2009. Mr. Briggs, who has led Federal Realty's development efforts with respect to Assembly Square, in Somerville, Mass. since the Trust acquired the property in 2005, will relocate from Federal Realty's corporate headquarters in Rockville, Maryland.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050907/DCW070LOGO )
Under Mr. Briggs' leadership, Federal Realty has been able to further the development of Assembly Square including garnering federal, state and local public infrastructure investment. In his new role, Mr. Briggs will continue to be responsible for all aspects of the development of Assembly Square and will take on operational responsibility for Federal Realty's 2 million square foot portfolio in New England, which includes Linden Square in Wellesley, Mass. and Dedham Plaza in Dedham, Mass. In addition to his responsibilities in the Boston region, Mr. Briggs will continue to oversee the Trust's major development opportunities, including Mid Pike Plaza.
"Federal Realty's decision to relocate Don to our Boston office demonstrates our commitment to giving the development at Assembly Square the best opportunity to succeed," commented Donald Wood, Federal Realty's president and chief executive officer. "As a seasoned executive on the ground and now a permanent part of the Boston community, Don can build on his existing knowledge base to further Federal Realty's business interests in the region."
Don Briggs has been an employee of Federal Realty since 2000, and as senior vice president - development, leads the planning and execution of the Trust's development and redevelopment projects. Prior to joining Federal Realty in 2000, Mr. Briggs was a development manager for Cousins Properties, Incorporated, a diversified REIT in Atlanta, Georgia. Mr. Briggs also worked as a senior project manager for The Whiting-Turner Contracting Company in Florida. Mr. Briggs has a bachelor's degree in architecture from University of Florida, and is a member of the International Council of Shopping Centers and Urban Land Institute.
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 94.0% leased to national, regional, and local retailers as of June 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.
Corporate Communications Manager
Investor Relations Manager
SOURCE Federal Realty Investment Trust
Media, Janelle Stevenson, Corporate Communications Manager, +1-301-998-8185, email@example.com, or Gina Birdsall, Investor Relations Manager, +1-301-998-8265, firstname.lastname@example.org, both of Federal Realty Investment Trust