Printer Friendly

FEDERAL REALTY INVESTMENT TRUST SELLS 3,450,000 COMMON SHARES

 FEDERAL REALTY INVESTMENT TRUST SELLS 3,450,000 COMMON SHARES
 BETHESDA, Md., June 9 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) announced today that it has sold 3,450,000 common shares to the public at a price of $20.50 per share. Merrill Lynch & Co., Alex, Brown & Sons, Inc., Kidder Peabody & Co., and Dean Witter Reynolds Inc. co-managed the offering. The offering was increased from 2,750,000 common shares originally filed with the Securities and Exchange Commission to 3,000,000 common shares and, in addition, the underwriters purchased an additional 450,000 shares to cover over- allotments incurred during the offering. Net proceeds from the sale of the shares total approximately $67 million and are expected to be used for property acquisitions and improvements and working capital.
 Federal Realty currently owns 41 neighborhood and community shopping centers located primarily in the Mid-Atlantic region between the New York metropolitan area and Richmond, Va. The trust specializes in the acquisition of older, well-located centers which can be enhanced through renovation, expansion, reconfiguration, re- leasing and re-merchandising programs.
 -0- 6/9/92
 /CONTACT: Mary Jane Morrow, vice president-finance, Federal Realty Investment Trust, 301-652-3360/ CO: Federal Realty Investment Trust ST: Maryland IN: FIN SU:


IH -- DC013 -- 8371 06/09/92 12:28 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 9, 1992
Words:212
Previous Article:PSE&G $600 MILLION FIRST AND REFUNDING MORTGAGE BONDS RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --
Next Article:GULF STATES ON FITCHALERT POSITIVE, ENTERGY UNITS AFFIRMED -- FITCH FINANCIAL WIRE --
Topics:


Related Articles
2.75 MILLION SHARES OF COMMON STOCK OF FEDERAL REALTY INVESTMENT TRUST SOLD
FEDERAL REALTY INVESTMENT TRUST ANNOUNCES 118TH CONSECUTIVE DIVIDEND
FEDERAL REALTY INVESTMENT TRUST COMPLETES EXCHANGE AGREEMENT; ISSUES 1.3 MILLION SHARES TO RETIRE $22.6 MILLION OF CONVERTIBLE SUBORDINATED DEBENTURES
FEDERAL REALTY INVESTMENT TRUST FILES REGISTRATION STATEMENT COVERING 2,750,000 SHARES
FEDERAL REALTY INVESTMENT TRUST ANNOUNCES 25TH CONSECUTIVE ANNUAL DIVIDEND INCREASE
FEDERAL REALTY INVESTMENT TRUST SELLS 2,500,000 COMMON SHARES; CALLS FOR REDEMPTION OF ALL OUTSTANDING 8.65 PERCENT SENIOR NOTES
PMC COMMERCIAL TRUST FILES REGISTRATION STATEMENT WITH SECURITIES AND EXCHANGE COMMISSION
FEDERAL REALTY INVESTMENT TRUST COMPLETES A PUBLIC OFFERING OF 2,500,000 SHARES AND A CONCURRENT OFFERING OF 840,000 SHARES TO AN INSTITUTIONAL...
FEDERAL REALTY INVESTMENT TRUST ANNOUNCES $40 MILLION EQUITY OFFERING
Federal Realty Investment Trust Announces $44.6 Million Equity Offering

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters