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FEDERAL REALTY INVESTMENT TRUST SELLS SARGENT ROAD SHOPPING CENTER FOR $1,850,000 MILLION

FEDERAL REALTY INVESTMENT TRUST SELLS SARGENT ROAD SHOPPING CENTER
 FOR $1,850,000 MILLION
 BETHESDA, Md., June 4 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) today sold the 52,000-square-foot Sargent Road shopping center located in Hyattsville, Md., for $1,850,000 resulting in an approximate gain of $670,000. Robert S. Wennett, vice president, acquisitions, for the trust, stated that the sale of Sargent Road is consistent with the trust's policy of disposing of centers in locations which do not meet FRIT's current investment criteria.
 Federal Realty currently owns 41 neighborhood and community shopping centers 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. The trust has made 118 consecutive quarterly dividend payments and has increased its dividend rate for each of the last 24 years. The current indicated annual dividend rate is $1.52.
 -0- 6/3/92
 /CONTACT: Robert Wennett, vice president, acquisitions, Federal Realty Investment Trust, 301-652-3360/ CO: Federal Realty Investment Trust ST: Maryland IN: FIN SU: RLE


TW -- DC002 -- 6890 06/04/92 08:58 EDT
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Publication:PR Newswire
Date:Jun 4, 1992
Words:198
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