Federal Realty Investment Trust (FRT) News & EventsFRTFederal Realty Investment Trust

Federal Realty Investment Trust Acquires The Summit in Alabama for $508M

Federal Realty Investment Trust announced the acquisition of The Summit, Alabama's premier retail destination, for $508M, or $498M on a net basis. Acquired from the original developer, this 100-acre, approximately 870,000-square-foot open-air property developed over more than 30 years is the most-visited retail destination in Alabama, drawing nearly 9M visits annually from a trade area reaching 100 miles in every direction according to Placer.ai. The acquisition is expected to be funded on a long-term basis with a combination of asset sale proceeds, free cash flow and proceeds from the company's recently issued convertible notes.

FY26 FFO Expected at $7.52, Property Growth View Raised to 3.25%-3.75%

Consensus is for FY26 FFO $7.52. Raises FY26 Comparable Property POI Growth view to 3.25%-3.75% from 3.125%-3.625%.