Federal Realty Acquires Annapolis Town Center, Advancing Disciplined Acquisition Strategy

Acquisition extends portfolio of dominant retail assets; recent leasing momentum underscores Federal's strong execution

NORTH BETHESDA, Md., Oct. 13, 2025 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) today announced the $187 million acquisition of Annapolis Town Center, a dominant, 480,000-square-foot open-air shopping destination in Anne Arundel County, Maryland on October 10, 2025. Anchored by a high-volume Whole Foods, shadow-anchored by Target, the center also features a Life Time luxury athletic club and a curated mix of national brands such as Anthropologie, Sephora, Restoration Hardware, and Williams Sonoma. Situated in one of the most affluent, well-connected trade areas in the Washington, D.C.–Baltimore region, the property benefits from high household incomes, strong retail fundamentals, and direct access to major regional corridors – all consistent with Federal's strategic investment criteria.

"This is exactly the kind of opportunity we target: a dominant asset with strong fundamentals, competitive positioning, and the potential to unlock further value under our ownership," said Don Wood, President & CEO of Federal Realty. "The traction we've seen across our other recent acquisitions gives us confidence in both our disciplined approach and our ability to scale strategically."

The acquisition of Annapolis Town Center extends Federal's strategy of investing in dominant, well-located retail centers with attractive demographics and value-creation potential. The asset presents both near- and long-term opportunities to drive performance through operational improvements, active merchandising, and capital investment. For an aerial image of Annapolis Town Center, click here.

Annapolis Builds on Recent Track Record of Dominant Asset Acquisitions

Recent acquisitions have demonstrated sustained leasing momentum, rent growth, and strong operational execution, reinforcing Federal's ability to create value through strategic execution and active portfolio management.¹

• Town Center Plaza and Town Center Crossing (Leawood, KS; acquired July 2025): Just months after acquisition, Federal has 10 leases totaling 80,000 square feet executed or in-process, including LEGO, Local Lime, and a Coach location featuring the brand's new café concept, with additional deals underway.
• Virginia Gateway (Gainesville, VA; acquired May  2024): Since acquisition, Federal has 25 leases totaling 140,000 square feet executed or in-process, highlighted by Sephora, Warby Parker, and South Block, along with a range of specialty food and service providers. 
• Shops at Pembroke Gardens (Pembroke Pines, FL; acquired July 2022): Since acquisition, Federal has 29 leases totaling more than 119,000 SF executed or in-process, including Lululemon, Anthropologie, Kendra Scott, and Coach. 
• Kingstowne Towne Center (Alexandria, VA; acquired April-July 2022): Through targeted remerchandising, the team has introduced South Block and Lazy Dog, expanded Starbucks, and added new service providers, with 28 leases signed to date totaling 60,000 square feet.
• Camelback Colonnade (Phoenix, AZ; acquired June 2021): Through targeted remerchandising and creative space utilization, Federal has executed14 leases totaling 94,000 square feet, including HomeGoods, coworking operator Kiln, and a new Hawaiian Bros drive-thru pad now under construction. Kiln's addition helped activate and monetize previously underutilized upper-level space.

Across these recent acquisitions, Federal has demonstrated consistent value creation through higher rents, strong tenant demand, and disciplined execution. While timing and performance vary by property, each reflects the same investment standards: irreplaceable real estate, income-rich trade areas, and a clear path to long-term value creation.

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 and select underserved regions with strong economic and demographic fundamentals. Founded in 1962, Federal Realty's mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. This includes a portfolio of open-air shopping centers and mixed-use destinations—such as Santana Row, Pike & Rose and Assembly Row—which together reflect the company's ability to create distinctive, high-performing environments that serve as vibrant destinations for their communities. Federal Realty's 102 properties include approximately 3,500 tenants in 27 million commercial square feet, and approximately 3,000 residential units. 

Federal Realty has increased its quarterly dividends to its shareholders for 58 consecutive years, the longest record in the REIT industry. The company is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.federalrealty.com.

Investor Inquiries:
Jill Sawyer
Senior Vice President, Investor Relations
301.998.8265
[email protected] 

Media Inquiries:
Brenda Pomar
Senior Director, Corporate Communications
301.998.8316 
[email protected] 

SOURCE Federal Realty Investment Trust