NEW
YORK, May 16, 2024 /PRNewswire/ -- Fifth
Wall—the largest asset manager focused on improving,
future-proofing, and decarbonizing the built world—today announced
Federal Realty Investment Trust (NYSE: FRT)—a fully
integrated US-based retail real estate company focused on
risk-adjusted capital allocation—has committed to invest with Fifth
Wall. This investment highlights Federal Realty's continued
commitment to delivering long-term, innovative as well as
sustainable growth across its best-in-class portfolio of 102
properties and approximately 26 million square feet.
"The real estate sector is at an inflection point, facing the
dual imperatives of adapting to climate change and capitalizing on
the rapid advancements in AI and other property technologies. Our
commitment to Fifth Wall enables us to evaluate and adopt the most
advanced technology and AI strategies that are specifically
tailored for the real estate sector," said Don Wood, Chief Executive Officer of Federal
Realty. "By partnering with Brendan
Wallace and his expert team, we are leveraging their deep
insights to amplify our capabilities and drive innovation. This
move is about more than just adapting; it's about decisively
leading in a digital age, ensuring that Federal Realty remains
synonymous with value creation and market leadership."
Federal Realty, a leader in owning and operating high-quality
retail-based commercial real estate, is embarking on a strategic
partnership with Fifth Wall to integrate cutting-edge technologies,
including advanced AI solutions, and sustainability innovations
across its portfolio. This initiative marks a significant step in
enhancing the vibrancy and resilience of its shopping centers and
mixed-use destinations. It complements Federal Realty's already
comprehensive sustainability program, underscoring a deep-rooted
commitment to environmental stewardship and community engagement.
By harnessing AI and other property enhancing technologies, Federal
Realty reinforces its dedication to leading the evolution of the
retail real estate sector, ensuring spaces that thrive economically
while contributing positively to the communities they serve.
"We're excited that Don and his team will be joining our valued
Limited Partner network," stated Brendan
Wallace, Chief Executive Officer and Chief Investment
Officer of Fifth Wall. "As one of the oldest US REITs, Federal
Realty's business is the proven model of resilient, long-term
success, even amid some of the most adverse economic cycles. Our
partnership underscores their continued, unwavering dedication to
staying at the forefront of real estate excellence."
Federal Realty joins Fifth Wall's expansive Limited Partner
network of in excess of 110 strategic Limited Partners across more
than 20 countries and every major asset class, representing today's
largest owners and operators of real estate globally to scale
breakthrough technology that will make the future of the built
environment more efficient, sustainable, and resilient.
About Federal Realty
Federal Realty is a recognized leader in the ownership,
operation and redevelopment of high-quality retail-based properties
located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty's
mission is to deliver long-term, sustainable growth through
investing in communities where retail demand exceeds supply. Its
expertise includes creating urban, mixed-use neighborhoods like
Santana Row in San Jose, California, Pike & Rose in
North Bethesda, Maryland and
Assembly Row in Somerville,
Massachusetts. These unique and vibrant environments that
combine shopping, dining, living and working provide a destination
experience valued by their respective communities. Federal Realty's
102 properties include approximately 3,300 tenants, in 26 million
commercial square feet, and approximately 3,100 residential
units.
Federal Realty has increased its quarterly dividends to its
shareholders for 56 consecutive years, the longest record in the
REIT industry. Federal Realty is an S&P 500 index member and
its shares are traded on the NYSE under the symbol FRT. For
additional information about Federal Realty and its properties,
visit www.federalrealty.com.
About Fifth Wall
Founded within 2016, Fifth Wall, a Certified B. Corp, is
the largest asset manager focused on improving, future-proofing and
decarbonizing the built world. With approximately $3B in commitments and capital under management,
Fifth Wall is backed by a global mix of more than 110 strategic
limited partners from more than twenty countries, including BNP
Paribas Real Estate, British Land, CBRE, Cushman & Wakefield,
Hilton, Hines, Host Hotels and Resorts, Kimco Realty Corporation,
Lennar, Marriott International, MetLife Investment Management, MGM
Resorts, Related Companies, Starwood Capital, and Toll Brothers,
amongst others. This consortium represents one of the largest
groups of potential partners in the global built world ecosystem,
resulting in transformational investments and collaboration with
portfolio companies to cut emissions, to improve efficiency, and to
maximize returns. Founded in Los
Angeles and headquartered in New
York City, Fifth Wall's other offices include San Francisco, London and Singapore. For more about Fifth Wall, its LPs,
and portfolio, visit fifthwall.com.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/federal-realty-partners-with-fifth-wall-302147780.html
SOURCE Fifth Wall