ROCKVILLE, Md., Aug. 26 /PRNewswire-FirstCall/ -- Federal Realty
Investment Trust (NYSE: FRT) today announced that Andrew P. Blocher will be
promoted to the position of senior vice president, chief financial officer and
treasurer effective September 1, 2008, succeeding Joseph M. Squeri, who is
leaving the Trust to pursue other professional interests.
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"The promotion of Andy to chief financial officer is an indication of the
management and leadership strength we've built within our organization. Andy
has been instrumental in positioning the Trust with financial flexibility and
in creating and maintaining key relationships with the financial community,"
said Donald C. Wood, president and chief executive officer of the Trust. "I
would also like to thank Joe for his contributions and counsel during his
tenure with the Trust."
Mr. Blocher has been a long-term employee of the Trust having joined
Federal Realty in November 2000. Since that time, he has played an integral
role in the creation and implementation of the Trust's capitalization
strategy, which has led to a significant strengthening of the Trust's balance
sheet, and in the communication of the Trust's business plan to investors and
other constituencies. Mr. Blocher has assumed increasing responsibilities
during his tenure with current responsibility for the Trust's capital markets,
investor relations and human resources functions. With his promotion, Mr.
Blocher will now assume responsibility for overseeing the Trust's accounting
and information technology functions. Mr. Blocher holds a Masters of Business
Administration from The George Washington University and a Bachelor of Science
in finance from Indiana University.
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 18.4 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 June 30, 2008, with no single tenant accounting for
more than approximately 2.7% 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 41 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 and Media Inquiries
Gina Birdsall Janelle Stevenson
Investor Relations Corporate Communications
301/998-8265 301/998-8185
gbirdsall@federalrealty.com jmstevenson@federalrealty.com
SOURCE Federal Realty Investment Trust