ROCKVILLE, Md., April 18, 2011 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) today announced that Michael Khouri has joined the Trust as director of leasing. Mr. Khouri will specialize in developing relationships with national and international tenants that have historically focused on mall and outlet center environments and will be based out of Federal Realty's corporate headquarters in Rockville, Md.
"Retailers are constantly looking for innovative ways to grow their businesses, and are actively expanding their prospects beyond the standard offerings and formats," said Chris Weilminster, senior vice president - leasing for Federal Realty. "Michael's long-standing relationships with many national and international retailers will enhance Federal Realty's ability to offer high-quality, productive and cost-effective retail alternatives to a growing number of tenants who have traditionally focused solely on malls and outlet centers."
Mr. Khouri joins Federal Realty with 26 years of mall leasing experience at General Growth Properties and The Rouse Company. During his tenure at General Growth Properties, Mr. Khouri was responsible for the merchandising and strategic planning for a variety of malls in the mid-Atlantic region including The Mall in Columbia (Columbia, Md.), Tyson's Galleria (McLean, Va.), White Marsh Mall (Baltimore, Md.) and Park City Center (Lancaster, Pa.). Mr. Khouri was also responsible for the recent expansion and remerchandising of Towson Town Center in Towson, Md., completing over 100 transactions for 350,000 square feet of retail space. With The Rouse Company, Mr. Khouri managed accounts with national retailers for the company's nationwide portfolio. Mr. Khouri is a member of the International Council of Shopping Centers.
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 18.3 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 93.9% leased to national, regional, and local retailers as of December 31, 2010, 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.