Printer Friendly

FEDERAL REALTY INVESTMENT TRUST SELLS LAWRENCE VILLAGE PLAZA FOR $7.6 MILLION

 FEDERAL REALTY INVESTMENT TRUST SELLS LAWRENCE VILLAGE PLAZA
 FOR $7.6 MILLION
 BETHESDA, Md., Dec. 31 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) announced today that the Trust sold Lawrence Village Plaza, a 272,000-square-foot shopping center located in New Castle, Pa., for $7.6 million. The Trust acquired the center in October of 1987. Robert S. Wennett, vice president-acquisitions for the Trust, said that this sale was made pursuant to the Trust's policy of concentrating its ownership of shopping centers in major metropolitan areas. The Trust estimates that there will be no material gain or loss on the transaction.
 Federal Realty currently owns 41 neighborhood and community shopping centers and one enclosed mall 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 and re-merchandising programs.
 -0- 12/31/91
 /CONTACT: Robert S. Wennett of Federal Realty Investment Trust, 301-652-3360/
 (FRT) CO: Federal Realty Investment Trust ST: Maryland IN: FIN SU:


MH -- DC009 -- 5891 12/31/91 13:01 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 31, 1991
Words:183
Previous Article:NATIONSBANK CORPORATION FORMED; NCNB CORPORATION AND C&S/SOVRAN CORPORATION FINALIZE MERGER
Next Article:RESOLUTION TRUST CORP. SERIES 1991-17 RATED 'AAA'/'AA' BY FITCH -- FITCH FINANCIAL WIRE --
Topics:


Related Articles
FEDERAL REALTY INVESTMENT TRUST ACQUIRES GAITHERSBURG SQUARE AND QUINCE ORCHARD PLAZA
GLIMCHER REALTY TRUST PURCHASES 46 SHOPPING CENTERS
FEDERAL REALTY INVESTMENT TRUST ACQUIRES IDYLWOOD PLAZA
FEDERAL REALTY INVESTMENT TRUST ACQUIRES QUEEN ANNE PLAZA IN NORWELL, MASSACHUSETTS
FEDERAL REALTY INVESTMENT TRUST ACQUIRES BRISTOL SHOPPING PLAZA IN BRISTOL, CONNECTICUT
FEDERAL REALTY INVESTMENT TRUST ACQUIRES THE VILLAGE AT SHIRLINGTON
Federal Realty Investment Trust Acquires Saugus Plaza Shopping Center
Regency Realty Corporation Announces The Acquisition Of Five Grocery Anchored Shopping Centers
Income Opportunity Realty Investors, Inc. Reports Acquisition Of La Mesa Village Plaza, Renaissance Parc Apartments, LaMonte Park Apartments And The...
Banyan Strategic Realty Trust Announces $3.1 Million Acquisition of Multi-Tenant Office Property in Memphis, Tennessee

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