UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
FEDERAL REALTY INVESTMENT TRUST
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(Name of issuer as specified in its Charter)
Common Shares of Beneficial Interest,
No Par or Stated Value
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(Title of class of securities)
313747 206
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(CUSIP Number)
Cornelius J. Dwyer, Jr.
Shearman & Sterling
599 Lexington Avenue
New York, New York 10022
Telephone: (212) 848-7019
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(Name, address and telephone number of person
authorized to receive notices and communications)
May 24, 1996
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(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
statement because of Rule 13d-1(b)(3) or (4), check the following |_|.
Check the following box if a fee is being paid with the statement |X|. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Continued on following pages)
(Page 1 of 8 Pages)
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CUSIP No. 313747 206
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1 NAME OF REPORTING PERSON
Stichting Pensioenfonds ABP
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS* 00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION The Kingdom of the Netherlands
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NUMBER OF 7 SOLE VOTING POWER 2,308,982
SHARES
BENEFICIALLY ---------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER --
EACH ---------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER 2,308,982
PERSON ---------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER 235,300
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,544,282
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.5%
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14 TYPE OF REPORTING PERSON* EP
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(Page 2 of 8 Pages)
Item 1. Security and Issuer.
This statement relates to the Common Shares of Beneficial
Interest, no par value (the "Common Shares"), of Federal Realty Investment Trust
(the "Issuer"). The Issuer is incorporated in the District of Columbia and has
its principal executive offices located at 4800 Hampden Lane, Suite 500,
Bethesda, Maryland 20814.
Item 2. Identity and Background.
This statement is filed by Stichting Pensioenfonds ABP, an
entity established under the laws of The Kingdom of the Netherlands (the
"Fund"), whose principal business is investing funds held on behalf of public
sector employees of The Kingdom of the Netherlands. The address of the Fund's
principal executive office is Oude Lindestraat 70; postbus 2889, 6401 DL
Heerlen, The Netherlands. The name, principal occupation, citizenship and
business address of each director and of each executive officer of the Fund are
as follows:
PRINCIPAL
NAME OCCUPATION CITIZENSHIP BUSINESS ADDRESS
- ---- ---------- ----------- ----------------
J. Kleiterp Executive Chairman The Netherlands Bestuur Abp
of the Board of P.O. Box 30909
Trustees of the Fund 2500 GX 's-GRAVENHAGE
H.J. Albersen Trustee of the Fund The Netherlands CMHF
P.O. box 80204
2508 AM 's-GRAVENHAGE
E.J. Anneveld Trustee of the Fund The Netherlands C.F.O.
P.O. box 84501
2508 AM 's-GRAVENHAGE
W. Drees Trustee of the Fund The Netherlands Wieringenmeen 36
3844 NA HARDERWIJK
P.H. Holthuis Trustee of the Fund The Netherlands Ministerie van O&W/ BR/DG
P.O. box 25000
2700 LZ ZOETERMEER
L. Koopmans Trustee of the Fund The Netherlands Lange Voorhout 86, app. 24
2514 EJ DEN HAAG
R. van Leeuwen Trustee of the Fund The Netherlands ABOP
Herengracht 54
1015 BN AMSTERDAM
C.L.J. V. Overbeek Trustee of the Fund The Netherlands Katholieke Onderwijs
Vakorganisatie
Verrijn Stuartlaan 36
2280 EL RIJSWIJK
(Page 3 of 8 Pages)
PRINCIPAL
NAME OCCUPATION CITIZENSHIP BUSINESS ADDRESS
- ---- ---------- ----------- ----------------
A.C. van Pelt Trustee of the Fund The Netherlands Ned. Gennootschap van
Leraren
P.O. box 407
3300 AK DORDRECHT
D.M. Sluimers Trustee of the Fund The Netherlands Ministerie van Financien
Casuariestraat 32
2511 VB 's-GRAVENHAGE
A.F.P.M. Scherf Trustee of the Fund The Netherlands Icaruslaan 20
5631 LD EINDHOVEN
X.J. den Uyl First Deputy Chairman The Netherlands Linnaeuslaan 14
of the Fund 2012 PP HAARLEM
J.W.E. Neervens Executive Chairman of The Netherlands ABP
the Board of Directors Oude Lindestraat 70
of the Fund 6411 EJ HEERlen
P.J. Bezemer Member of the Board of The Netherlands ABP
Directors of the Fund Oude Lindestraat 70
6411 EJ HEERLEN
J.M.G. Frijns Member of the Board of The Netherlands APB
Directors of the Fund Oude Llindestraat 70
6411 EJ HEERLEN
During the last five years, neither the Fund nor any of its
executive officers or directors has been (i) convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors) or (ii) a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
and as a result of such proceeding was or is subject to a judgment, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to, United States federal or state securities laws or finding
any violation with respect to such laws.
(Page 4 of 8 Pages)
Item 3. Source and Amount of Funds or Other Consideration.
On May 24, 1996, the Fund acquired 1,818,182 Common Shares in
a private placement transaction for a purchase price of U.S. $22.0 per share,
raising the number of Common Shares beneficially owned by the Fund to 2,544,282
(approximately 7.5% of aggregate number of shares outstanding) and requiring the
Fund to file this statement on Schedule 13D.
The funds for the foregoing purchase of Common Shares by the
Fund were supplied from Dutch public sector pensioners' contributions to the
Fund.
Item 4. Purpose of Transaction.
The Fund has acquired the Common Shares in a private placement
transaction for the purpose of making an investment in the Issuer and not with
the present intention of acquiring control of the Issuer's business.
The Fund from time to time intends to review its investment in
the Issuer on the basis of various factors, including the Issuer's business,
financial condition, results of operations and prospects, general economic and
industry conditions, the securities markets in general and those for the
Issuer's securities in particular, as well as other developments and other
investment opportunities. Based on such review, the Fund will take such actions
in the future as the Fund may deem appropriate in light of the circumstances
existing from time to time. If the Fund believes that further investment in the
Issuer is attractive, whether because of the market price of the Issuer's
securities or otherwise, it may acquire shares of Common Shares or other
securities of the Issuer either in the open market or in privately negotiated
transactions. Similarly, depending on market and other factors, the Fund may
determine to dispose of some or all of the Common Shares currently owned by the
Fund or otherwise acquired by the Fund either in the open market or in privately
negotiated transactions.
Except as set forth above, the Fund has not formulated any
plans or proposals which relate to or would result in: (a) the acquisition by
any person of additional securities of the Issuer or the disposition of
securities of the Issuer, (b) an extraordinary corporate transaction involving
the Issuer or any of its subsidiaries, (c) a sale or transfer of a material
amount of the assets of the Issuer or any of its subsidiaries, (d) any change in
the present board of directors or management of the Issuer, (e) any material
change in the Issuer's capitalization or dividend policy, (f) any other material
change in the Issuer's business or corporate structure, (g) any change in the
Issuer's charter or bylaws or other instrument corresponding thereto or other
action which may impede the acquisition of control of the Issuer by any person,
(h) causing a class of the Issuer's securities to be deregistered or delisted,
(i) a class of equity securities of the Issuer becoming eligible for termination
of registration or (j) any action similar to any of those enumerated above.
(Page 5 of 8 Pages)
Item 5. Interest in Securities of the Issuer.
(a)-(b) As of the date hereof, the Fund beneficially owns and
has the sole power to vote and dispose of 2,308,982 Common Shares and has the
shared power to dispose of 235,300 Common Shares, which are held by the Fund in
two separate securities accounts with ABN AMRO BANK N.V. managed by Cohen &
Steers Capital Management Inc., and ABKB/LaSalle Securities, respectively. Based
on information provided by the Issuer to the Fund on May 24, 1996, such shares
constitute approximately 7.5% of the outstanding Common Shares. To the knowledge
of the Fund, no Common Shares are beneficially owned by any director or
executive officer listed under Item 2 above.
(c) The Fund has effected the following open market purchases
of the Common Shares during the past 60 days:
DATE OF DATE OF NUMBER OF
PURCHASE PURCHASE SHARES PURCHASED
-------- -------- ----------------
4/4/96 300 $21.96
4/10/96 100 21.43
4/12/96 16,000 20.63
4/12/96 200,000 21.63
4/15/96 100 21.05
4/16/96 500 21.27
4/17/96 400 21.56
4/18/96 100 21.55
4/18/96 500 21.55
4/19/96 100 21.68
4/22/96 1,100 21.50
4/23/96 200 21.81
4/30/95 200 21.91
5/2/96 200 21.81
5/06/96 900 21.75
5/07/96 3,000 21.75
5/08/96 2,500 21.63
5/09/96 2,500 21.63
5/10/96 4,000 21.50
5/13/96 700 21.38
5/14/96 1,500 21.63
5/14/96 300 22.43
5/15/96 1,000 21.69
5/17/96 600 21.43
5/21/96 400 21.18
5/23/96 2,000 21.75
5/24/96 1,818,182 22.00
(Page 6 of 8 Pages)
(d) To the knowledge of the Fund, no other person has the
right to receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, any shares of Common Shares beneficially owned by the
Fund.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Neither the Fund nor any of its executive officers or
directors has any contracts, arrangements or understandings with any person with
respect to any securities of the Issuer.
Item 7. Material to Be Filed as Exhibits.
None.
(Page 7 of 8 Pages)
Signature
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After due inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and
correct.
Dated: May 30, 1996 STICHTING PENSIOENFONDS ABP
By s/s J. Mensonides
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Name: J. Mensonides
Title: Managing Director
Equity Investments
By s/s P.A.W.M. Spijkers
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Name: P.A.W.M. Spijkers
Title: Managing Director
Fixed Income Investments
(Page 8 of 8 Pages)
