ROCKVILLE, Md., June 22, 2011 /PRNewswire via COMTEX/ --
Federal Realty Investment Trust (NYSE:FRT) today announced that Jeffrey R. Chambers has joined the Trust as senior director of development and acquisitions, West Coast. In this role, Mr. Chambers will focus on sourcing and underwriting acquisition opportunities, developing and maintaining broker relationships, and overseeing certain shopping center development and redevelopment projects associated with new acquisitions as the Trust seeks to expand its presence on the West Coast.
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"Jeff is a great addition to our West Coast team," commented Jeff Berkes, president, Federal Realty West Coast. "His successful track record of acquiring, developing, and redeveloping shopping centers and his knowledge of the Southern California markets will provide significant value as we further grow our investment base in this region."
Mr. Chambers most recently served as director at WestCap Corp., a commercial mortgage banking and investment firm, where he sourced acquisitions for clients and new lending opportunities for life insurance companies and pension funds. Prior to that, Mr. Chambers was vice president - development at Donahue Schriber Realty Group where he sourced, underwrote, acquired, developed and managed shopping centers in Southern California and Nevada. With over 20 years of experience in Southern California retail development, Mr. Chambers was directly responsible for the overall development of various shopping centers including Countryside Marketplace in Menifee, Silverhawk Plaza in Temecula, Stevenson Ranch Plaza in Valencia, and Brea Union Plaza in Brea.
Mr. Chambers has a bachelor's degree in Business Administration from California State University - Northridge and is a licensed California Real Estate Broker. He lives in San Clemente, California with his wife, Diane, and has four children.
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 18.6 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 93.8% leased to national, regional, and local retailers as of March 31, 2011, 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 43 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
