Federal Realty Investment Trust Announces Promotions Within Its Leasing Ranks
ROCKVILLE, Md., May 6, 2014 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) announced today the promotion of Christopher J. Weilminster to the position of Executive Vice President, Real Estate & Leasing for the Trust. In his role, Mr. Weilminster will be a member of the firm's six person senior Executive Committee and also the firm's eight member Investment Committee. The Executive Committee meets regularly on all corporate matters while the Investment Committee analyzes and approves all significant capital allocation decisions.
"Chris has been a terrific friend and trusted advisor since the day I started at Federal 16 years ago," commented Donald C. Wood, President and Chief Executive Officer of Federal Realty Investment Trust. "He had already been here 8 years at that point, and the value of his counsel has been immeasurable. It's an honor to be able to recognize his important continuing contributions to the success of the Trust with this role and title."
In addition, the Trust announced the promotion of Wendy Seher to the position of Vice President & Director of Leasing, Mid-Atlantic Region and the concurrent promotions of Jeffrey Fischer and Joseph Byrnes as Co-Directors of Leasing, Northeast Region.
"This alignment of our extremely talented leasing team on a geographic regional basis will better help us serve the needs of both anchor and small shop tenants as well as improve communication and alignment with our Regional Chief Operating Officers," said Chris Weilminster. "Each of these team members are my trusted colleagues and I'm proud to be able to give them the additional autonomy that they've earned to continue to create value for the Trust."
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 20 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 95.8% leased to national, regional, and local retailers as of December 31, 2013, with no single tenant accounting for more than approximately 3.5% 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 46 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.
Investor Relations Manager
SOURCE Federal Realty Investment Trust