ROCKVILLE, Md., May 31, 2016 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) announced today new additions to the company's management team of its Mixed-Use and Boston/NY Core Portfolio Divisions.
Bryan W. Furze has been named Vice President, Asset Management and will report directly to Jeffrey S. Mooallem, Senior Vice President and Managing Director, Core Portfolio. Based in Somerville, MA, Mr. Furze will be responsible for the performance of the Trust's Boston and New York Core portfolio, comprised of 18 assets representing over 3 million square feet. Mr. Furze brings over 15 years of experience in all facets of the retail real estate industry, focusing on the value creation, development and operations of shopping centers and mixed-use properties throughout New England. Mr. Furze comes from Linear Retail Properties, where he was Vice President, Asset Management & Development and oversaw a portfolio of 20 assets. During his time with Linear, he accomplished the redevelopment of numerous shopping centers and successfully achieved the master planning and assembling of two urban, mixed-use projects in Boston, MA. Prior to Linear, he served as Vice President, Director of Asset Management & Development at Crosspoint Associates. Mr. Furze is a graduate of the University of Notre Dame, where he earned his Bachelor of Arts in English. He joins the Trust on June 8, 2016.
"We are very happy to welcome Bryan to Federal Realty. He will work closely with our existing Core team in the Assembly Row office and will be a critical part of our value creation and growth strategy in the Boston and New York markets," commented Jeff Mooallem, Senior Vice President and Managing Director, Core Portfolio. "Bryan has a diverse background in all aspects of retail asset management, including development, leasing and entitlements, which fits perfectly with what we are trying to accomplish in the Core Division."
James B. Milam has been named Vice President, Finance, Mixed-Use Division and will report directly to Christopher J. Weilminster, Executive Vice President and President of the Mixed-Use Division. Based at the Trust's Headquarters in Rockville, MD, Mr. Milam will be responsible for the overall financial management of the Mixed-Use Division providing strategic direction, planning, analysis and reporting for the Division, which consists of 16 properties, spanning from Boston to Miami, that will have approximately 4.2 million square feet of retail space, over half a million square feet of office space, 1,700 rental apartments and 330 hotel rooms by 2019. Prior to joining the Trust, Mr. Milam was Portfolio Analyst for the Americas Listed Real Estate Team at APG Asset Management, where he oversaw investments in the retail and triple-net lease sectors. Previously, he worked at Sandler O'Neill + Partners, where he was a Senior Analyst in the research department covering health care and lodging REITs. Mr. Milam holds a Master of Science in Real Estate Finance from New York University and Bachelor of Arts in Political Economy from Princeton University. He joins the Trust on June 2, 2016.
"We are thrilled to have James join the Mixed-Use Division", said Chris Weilminster, Executive Vice President and President of the Mixed-Use Division." James' broad understanding of real estate fundamentals and his financial acumen and leadership skills will be a welcomed addition to the Division's senior team. I look forward to partnering with James over the years to come to successfully execute the Mixed-Use Division's business plan."
About Federal Realty:
Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, our mission is to deliver long term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply. Our expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 96 properties include over 2,800 tenants, in approximately 22 million square feet, and over 1,800 residential units.
Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 48 consecutive years, the longest record in the REIT industry. Federal Realty shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.FederalRealty.com.
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SOURCE Federal Realty Investment Trust