ROCKVILLE, Md., Dec. 1 /PRNewswire-FirstCall/ -- Federal Realty Investment Trust (NYSE: FRT) today announced that it has further strengthened its retail real estate presence in the Boston market by adding two experienced real estate professionals to oversee its acquisitions and leasing in the Boston region. Ed Senenman brings more than 20 years of experience to his new role to source Federal Realty's investment opportunities in the Northeast region and Lee Anne Klemyk adds 20 plus years of leasing experience to the team as she takes on responsibility for leasing Federal Realty'sNew England portfolio. These new hires come on the heels of Federal Realty's recent announcement that Don Briggs will head the Trust's Boston office, demonstrating Federal Realty's commitment to the region.
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"With the addition of two seasoned professionals, we are furthering our commitment to expand Federal Realty's footprint in New England, and improve our core operations in the region," commented Don Briggs, president Federal Realty Boston. "In addition, both Lee Anne and Ed will bring a wealth of experience as we assess the future development of Assembly Square."
Mr. Senenman will be responsible for acquiring high-quality retail properties that meet Federal Realty's investment criteria in the Trust's Northeast region, which extends from Boston to Philadelphia.
"Ed's significant experience, existing relationships and market knowledge in the Northeast enhances our ability to pursue high-quality investments in this region," said Jeff Berkes, executive vice president - chief investment officer for Federal Realty. "With significant capital available to invest, we're excited to welcome Ed to Federal Realty's acquisitions team."
Prior to joining the Trust, Mr. Senenman served as vice president of acquisitions for Kimco Realty Corporation where he was involved in the acquisition of shopping centers totaling several billion dollars. Mr. Senenman received both an MBA in Finance and BBA in Accounting from Hofstra University and has more than 20 years of experience in all facets of retail property acquisitions, property valuations, asset management, and development.
Ms. Klemyk will be based out of Federal Realty'sBoston office in Somerville, Massachusetts and will oversee all leasing efforts for the Trust's New England portfolio. Before joining the Trust, Ms. Klemyk served as vice president of leasing for New England Development, where she specialized in leasing space for large-format retail tenants up to 165,000 square feet. Prior to that she was vice president of leasing at W/S DevelopmentS.R. Weiner & Associates where she developed and implemented leasing strategies for a portfolio containing over 15 million square feet of space. Ms. Klemyk graduated magna cum laude from Central Connecticut State University where she received a Bachelor of Science degree in Marketing.
"Lee Anne's 20 plus years of retail leasing experience throughout New England will be a real asset to the Trust in the leasing of both our current operating portfolio and potential future development opportunities," said Chris Weilminster, senior vice president - leasing for Federal Realty. "Her understanding of the New England retail markets, relationships with tenants and experience in leasing operating portfolios and new development projects is a perfect fit for Federal Realty's needs in New England."
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 94.2% leased to national, regional, and local retailers as of September 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.
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