Federal Realty Investment Trust (FRT)

October 19, 2009 - Completed the land exchange between Swedish home furnishings retailer IKEA and Federal Realty at Assembly Square in Somerville, Mass. As a result of the exchange, Federal Realty now owns an additional 16.6 acres of riverfront property for the proposed development of Assembly Square, while IKEA owns an 11.9 acre inland site approved for a 340,000-square-foot store.

October 1, 2009 – Announced that Don Briggs, senior vice president, development, would become head of the Trust’s Boston office effective October 5. Mr. Briggs has led Federal Realty’s development efforts with respect to Assembly Square, in Somerville, Mass. since the Trust acquired the property in 2005 and will continue to be responsible for all aspects of the development of Assembly Square. In addition, Mr. Briggs will take on operational responsibilities for Federal Realty’s 2 million square foot portfolio in New England.

August 17, 2009 – Announced the closing of $265 million of capital raising activities, comprised of $150 million of 5.95% five-year senior unsecured notes and $115 million of common shares of beneficial interest, including the underwriters’ over-allotment option. Federal Realty intends to utilize the proceeds to pursue acquisition opportunities, fund its redevelopment pipeline, pay down its $372 million term loan, and/or for general corporate purposes.

June 4, 2009 – Completed a cash tender offer for its outstanding 8.75% Notes due 2009 (CUSIP No.313747AG2), purchasing an aggregate of $40,266,000 principal amount of the Securities (representing 24.6% of the outstanding Securities). The consideration paid for the Securities was $1,020 per $1,000 in principal amount, plus accrued and unpaid interest to, but not including, June 4, 2009. The aggregate consideration paid for the Securities tendered, exclusive of accrued interest and transaction costs, was approximately $41.1 million.

June 4, 2009 – Closed on a $139 million five-year loan secured by four retail assets located in Northern Virginia at an effective annual rate of 7.7%.

May 4, 2009 – Closed a new $372 million unsecured term loan, proceeds of which were utilized to retire the Trust’s outstanding $200 million unsecured term loan, pay down the outstanding balance on our revolving credit facility, and provide capital to retire the 8.75% Notes due December 1, 2009. The term loan, which bears interest at an annual rate of LIBOR (subject to a 1.5% floor) plus 300 basis points, will mature in July 2011. The term loan was increased from its initial size of $200 million, reflecting significant demand from high-quality financial institutions for the Trust’s credit at market leading terms.

April 14, 2009 – Closed a $24.1 million, ten-year loan secured by Rollingwood Apartments in Silver Spring, Maryland at an effective annual interest rate of 5.7%.

September 8, 2008—Acquired Courtyard Shops, a 127,000 square foot Publix-anchored neighborhood shopping center located in Wellington, Florida, an affluent community in central Palm Beach County, Florida. Federal Realty acquired the property from an institutional owner for $37.9 million. Courtyard Shops boasts average household incomes in excess of $115,000 within a 3-mile radius of the property, a highly productive Publix store, and potential for strong NOI growth. In addition, the property benefits from significant barriers to new competition due to considerable portions of Wellington being protected as an equestrian preserve established to keep the community’s character intact as Wellington is world-famous for its equestrian events and polo clubs.

August 26, 2008—Announced the promotion of Andrew P. Blocher to the position of senior vice president, chief financial officer and treasurer effective September 1, 2008, succeeding Joseph M. Squeri, who left the Trust to pursue other professional interests.

June 2, 2008 – Federal Realty acquired Del Mar Village, a 154,000 square foot grocery-anchored, neighborhood shopping center at the intersection of Palmetto Park Road and Powerline Road in Boca Raton, Florida. The acquisition of Del Mar Village reflects the Trust's strategy of acquiring assets in Palm Beach, Broward and Miami-Dade counties in South Florida – areas that possess dense populations, a high degree of affluence and significant barriers to entry. Federal Realty acquired the property from a private owner for $41.7 million in cash.

December 21, 2007 – Announced the pricing of a public offering of 2,000,000 common shares of beneficial interest at a price to the public of $81.21 per share, for net proceeds of approximately $162 million after deducting estimated offering expenses. Net proceeds from the offering will be used for general corporate purposes. The offering closed on December 27, 2007.

November 9, 2007 – The Company entered into a new $200 million unsecured term loan facility. The new facility has a one-year term with one one-year extension option and bears interest at LIBOR plus 57.5 basis points, based on the Company’s current credit ratings.

October 31, 2007 – Acquired the fee interest in Mid-Pike Plaza in Rockville, Maryland, and Huntington Shopping Center in Huntington, New York in exchange for leasehold interests of six

retail properties in New Jersey (Allwood, Blue Star, Brunswick, Clifton, Hamilton and Rutgers Shopping Centers) via a Section 1031 tax-deferred exchange and $17.2 million of cash. Due to Mid-Pike Plaza’s proximity to Metrorail, the Montgomery County conference center and the desirable, in-fill nature of the site at the intersections of Rockville Pike, the new Montrose Parkway and Old Georgetown Road, the Trust anticipates seeking to entitle the approximately 20 acre site for high-density, mixed-use development, consistent with Montgomery County’s Smart Growth initiatives. The fully leased Huntington Shopping Center boasts strong household incomes and population density, consistent with Federal Realty’s sector leading demographics, and strong projected NOI growth over the next several years.

October 31, 2007 – Acquired the fee interest in Mid-Pike Plaza in Rockville, Maryland, and Huntington Shopping Center in Huntington, New York in exchange for leasehold interests of six retail properties in New Jersey (Allwood, Blue Star, Brunswick, Clifton, Hamilton and Rutgers Shopping Centers) via a Section 1031 tax-deferred exchange and $17.2 million of cash. Due to Mid-Pike Plaza’s proximity to Metrorail, the Montgomery County conference center and the desirable, in-fill nature of the site at the intersections of Rockville Pike, the new Montrose Parkway and Old Georgetown Road, the Trust anticipates seeking to entitle the approximately 20 acre site for high-density, mixed-use development, consistent with Montgomery County’s Smart Growth initiatives. The fully leased Huntington Shopping Center boasts strong household incomes and population density, consistent with Federal Realty’s sector leading demographics, and strong projected NOI growth over the next several years.

October 11, 2007 – Announced the sale of two retail buildings in Forest Hills, New York generating net proceeds of $32 million and a book gain of $19.0 million. The Trust took advantage of its acquisition of Shoppers’ World in Charlottesville, Virginia in May 2007 and executed a reverse Section 1031 tax-deferred exchange.

June 4, 2007 – Federal Realty acquired Shoppers’ World, a 169,000 square foot Whole Foods-anchored neighborhood shopping center located on U.S. 29 in Charlottesville, Virginia, in an off-market transaction from a private owner. This acquisition further enhances Federal Realty’s ownership in Charlottesville, Virginia, as the Trust now owns and operates 650,000 square feet of retail space.

June 25, 2007- Federal Realty completed the sale of three non-core properties in suburban New England for $63.0 million. All three properties – Riverside Plaza and Key Road Plaza in Keene, N.H., and Bath Shopping Center in Bath, Maine—were acquired in August 2006 to facilitate the purchase of $150 million of high-quality assets in the Boston metropolitan area. The $63.0 million sales price for the three properties generated a book gain of approximately $2 million.

July 17, 2007 – Federal Realty announced that Warren M. Thompson, president and chairman of Thompson Hospitality Corporation, was nominated and appointed to serve on Federal Realty’s board of trustees. Mr. Thompson’s term will run until the Trust’s annual meeting of shareholders in May 2008, and he will serve on the Trust’s audit committee and nominating and corporate governance committee.

March 9, 2007 – Federal Realty announced the acquisition of a portfolio of retail assets in the Baltimore metropolitan area from a private owner for approximately $189 million. The portfolio is located in White Marsh, one of the primary retail nodes in the metropolitan Baltimore market, and consists of 665,000 square feet of retail and commercial space. The acquisition was made using a combination of cash, common stock and convertible preferred stock, downREIT units and the assumption of fixed-rate debt.

January 5, 2007 – Sam J. Gorlitz, co-founder of Federal Realty, passed away at the age of 89. Mr. Gorlitz established the Trust in 1962 with three properties in the metropolitan D.C. area including Congressional Plaza in Rockville, Maryland. Mr. Gorlitz retired from the Trust’s Board of Trustees in 1999, the same year that Federal Realty renamed Park and Shop Center in Washington, D.C. to Sam’s Park and Shop to thank him for his contributions to the Company and industry.

November 28, 2006 – Issued $135 million of 5.40% Notes due 2013. Proceeds of the offering were used to repay outstanding debt.

November 27, 2006 – The Trust redeemed all 5,400,000 outstanding shares of its 8.50% Series B Cumulative Redeemable Preferred Shares.

November 6, 2006 – Federal Realty announced the acquisition of Melville Mall, a 100% leased supermarket-anchored community center located in Huntington, New York, approximately 1-1/2 miles south of the Trust’s Huntington Shopping Center. Tenants at Melville Mall include Waldbaum’s, Kohl’s, Marshall’s and Dick’s Sporting Goods.