Federal Realty Drops $127M For Md. Shopping Center

Law360, New York (January 10, 2012, 11:57 AM EST) -- Federal Realty Investment Trust has paid $127 million for an 89.9 percent interest in a 357,000-square-foot mall in Rockville, Md., located across from another shopping center the trust is currently developing, the REIT said Monday evening.

Rockville, Md.-based Federal Realty did not name the seller or sellers, but noted the property is encumbered by a newly issued $80 million mortgage with a ten-year term. It said the shopping center, which houses anchor stores including a Giant Food supermarket and a Sports Authority shop, is located at...
To view the full article, register now.