Federal Realty President and CEO Named 2009 Trendsetter
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Since joining Federal Realty in 1998, Mr. Wood has played an integral role in shaping Federal Realty's successful business strategy which focuses on owning and operating high quality retail real estate in densely populated, affluent metropolitan areas, and utilizes conservative acquisition and redevelopment investments to supplement internal growth, and finances these initiatives with conservative leverage levels.
"I am honored to accept this award and I want to thank Transwestern and Delta Associates for the recognition," said Don Wood. "Federal Realty has a successful track record of maximizing value associated with a variety of retail assets in D.C. and other strong markets on the East and West coasts. I am proud to be a part of Federal Realty's 46 year history of consistent growth through leasing, operations and redevelopment. This year, I am especially appreciative of the unique individuals that helped the Trust achieve our goals in this difficult environment."
"For his steadfast leadership in a period of market turmoil, we're very pleased to honor Don Wood as our 2009 Public Sector Trendsetter," said Tom Nordlinger, President of Transwestern's Mid-Atlantic Region. "Federal Realty's success is a testament to their business strategy and Don's leadership."
Mr. Wood joined Federal Realty in 1998 as chief financial officer and in 1999, and became the Trust's senior vice president and chief operating officer. In 2001, Mr. Wood was promoted to president and chief operating officer and assumed his current capacity as president and chief executive officer in 2003. In June 2005, Mr. Wood was named a winner of the Ernst & Young Entrepreneur of the Year(R) Awards in Greater Washington in the Real Estate category by professional services firm Ernst & Young LLP. Actively involved with the Cystic Fibrosis Foundation for the last 10 years, Mr. Wood currently sits on the National Board of the Cystic Fibrosis Foundation and chairs the Breath of Life Gala for the Metropolitan Washington, DC Chapter.
Mr. Wood accepted the award at the annual Mid-Atlantic TrendLines conference on Thursday. The TrendLines event presented a state of the commercial real estate market overview and forecast, and provided reports produced by Delta Associates, the leading source of real estate market data in the Washington region, and Transwestern, one of the region's preeminent commercial real estate firms. Past honorees of the Trendsetters Award include Milt Peterson of The Peterson Companies, John E. (Chip) Akridge of Akridge Real Estate Services, Congressman Tom Davis, and Anthony A. Williams, past Mayor of the District of Columbia.
"I also want to extend my congratulations my fellow honoree, Chris Smith, Chairman and CEO of William C. Smith & Company," said Wood. "I am grateful to be recognized alongside a deserving colleague and someone who has devoted so much time and energy to revitalizing areas of D.C."
About Federal Realty
Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management, development, and redevelopment of high quality retail assets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 18.1 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 95.5% leased to national, regional, and local retailers as of September 30, 2008, 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 41 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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SOURCE Federal Realty Investment Trust