ROCKVILLE, Md., Feb. 11, 2015 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) announced today the creation of new core shopping center and mixed use divisions within its East Coast portfolio as well as key promotions within operations and leasing to further decentralize management and align and reward talented executives at the real estate level.
John M. Hendrickson has been promoted to Senior Vice President-Mixed Use Division and will oversee the operations of the Trust's growing mixed use portfolio on the East Coast, which includes Assembly Row, Bethesda Row, Pike & Rose and Village at Shirlington, as well as future potential mixed use projects such as Pike 7 and Montrose Crossing. Mr. Hendrickson has been with the Trust for 17 years, most recently serving as Chief Operating Officer of the Northeast Region, where he directed the region's day to day operations, including the successful delivery of Assembly Row.
Stuart Biel has been promoted to Vice President of Leasing—Mixed Use Division. In his new role, Mr. Biel will report to Mr. Hendrickson and lead the Trust's mixed use leasing efforts on the East Coast. Since joining the Trust in 2005, Mr. Biel has built a demonstrated track record of success in leasing mixed use assets like Assembly Row, Bethesda Row and Pike & Rose.
"John's strong financial and operational talents position him perfectly to manage the operations of our growing mixed-use portfolio, while Stuart's success in leasing our diverse mixed use assets has been truly remarkable," said Mr. Wood. "These infill, mixed use assets deliver a unique mix of retail, residential, office and other uses that will benefit greatly from John's and Stuart's focused oversight and leadership."
Wendy Seher has been promoted to Senior Vice President of Leasing— Core Shopping Center Division, where she will manage and oversee all day-to-day leasing activities across the Trust's core shopping center portfolio on the East Coast. Ms. Seher has been with Federal since 2002, and has over 25 years of experience in the retail leasing industry.
Deirdre Johnson has been promoted to Vice President of Asset Management – Core Shopping Center Division, where she will manage and oversee the day to day operations of a 3 million square foot portfolio of assets. In her 8 years with the Trust, Ms. Johnson has been instrumental to the success of assets such as The Shops at Willow Lawn, Barracks Road Shopping Center, Eastgate Shopping Center and Rockville Town Square.
"The continued strength and outperformance of our core portfolio is a true testament to efforts of extraordinary team members such as Wendy and Deirdre," commented Donald C. Wood, the Trust's President and Chief Executive Officer. "I am confident that under their focused leadership, we will continue to create and enhance long term value for the Trust."
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 89 properties include over 2,600 tenants in approximately 20.2 million square feet of retail space and 1,500 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