ROCKVILLE, Md., Aug. 23, 2011 /PRNewswire via COMTEX/ --

Federal Realty Investment Trust (NYSE: FRT) today announced that Steve LaBold has joined the Trust as senior director of Northeast acquisitions. Mr. LaBold will source and underwrite retail acquisitions in the Trust's core markets in the Northeast region, including metropolitan New York, Boston, and Philadelphia.

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Mr. LaBold brings 17 years of diverse experience in core, value-add, and opportunistic real estate investments to Federal Realty. For 15 years he served as vice president of transactions for Prudential Real Estate Investors in the Northeast, where he was responsible for acquiring commercial properties and developing joint venture relationships. While with Prudential, Mr. LaBold originated and closed over $2.5 billion of acquisitions and development joint ventures as a lead investment professional. Mr. LaBold most recently sourced acquisitions while serving as managing director at Newmark Knight Frank and as vice president, acquisitions and investment management with Monday Properties. Mr. LaBold holds a Bachelor of Science in Business Administration from University of Delaware and a Masters of Business Administration from Rutgers University with a concentration in Real Estate. Mr. LaBold will be based in Morristown, New Jersey.

"We are very confident that Steve's extensive experience and contacts in the Northeast will allow him to immediately source high quality retail properties for the Trust," said Barry Carty, vice president - East Coast acquisitions for Federal Realty. "We continue to seek properties with great population and income demographics, in areas with significant barriers to entry, where we can create value through leasing, operations and redevelopment."

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 93.4% leased to national, regional, and local retailers as of June 30, 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 44 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