ROCKVILLE, Md., June 6, 2011 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) today announced that Melissa Solis has been promoted to vice president - chief accounting officer, effective July 1, 2011. Previously, Mrs. Solis was controller for the Trust. In her new role Melissa will oversee all aspects of the Trust's accounting department including financial reporting, budgeting, tax and compliance activities.
"Melissa's intelligence, commitment, leadership and technical knowledge ideally suit her to be Federal Realty's chief accounting officer," said Andrew Blocher, Federal Realty's senior vice president, chief financial officer. "I am pleased to have Melissa as a partner in executing Federal Realty's financial and accounting objectives, and welcome her as a new and valued member of the Trust's senior management team."
Mrs. Solis joined Federal Realty in 2007 and has over 10 years of financial accounting and audit experience. Prior to joining the Trust, Mrs. Solis was a senior manager at Ernst & Young in the assurance and advisory business services group specializing in real estate. Her experience includes audit, accounting for complex real estate transactions, financial reporting and analysis, SEC reporting as well as expertise with respect to internal controls. Mrs. Solis is a Certified Public Accountant and has a bachelor's degree with a double major in accounting and finance from Indiana University, Bloomington, Indiana where she graduated Magna Cum Laude.
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 18.6 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 93.8% leased to national, regional, and local retailers as of March 31, 2011, with no single tenant accounting for more than approximately 2.6% 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 43 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.