FEDERAL REALTY PARTNERS WITH FIFTH WALL

Rhea-AI Summary

Federal Realty Investment Trust (NYSE: FRT) has announced a strategic partnership with Fifth Wall, a leading asset manager focused on future-proofing and decarbonizing the built world. This collaboration highlights Federal Realty's commitment to long-term, innovative, and sustainable growth across its 102 properties and 26 million square feet of retail real estate.

Don Wood, CEO of Federal Realty, emphasized the importance of leveraging advanced technology and AI strategies to enhance their portfolio. Brendan Wallace, CEO of Fifth Wall, welcomed Federal Realty to their network of over 110 strategic Partners globally, emphasizing Federal Realty's resilience and commitment to excellence.

Positive

• Federal Realty's investment in Fifth Wall highlights a commitment to long-term, sustainable growth.
• Partnership aims to integrate advanced AI and technology solutions across Federal Realty's 102 properties.
• Fifth Wall's expertise will help Federal Realty adapt to climate change and technological advancements.
• Federal Realty's portfolio includes approximately 26 million square feet of high-quality retail real estate.
• Joining Fifth Wall's network gives Federal Realty access to insights from over 110 strategic Partners globally.

Negative

• The partnership may involve significant capital expenditure, impacting short-term financials.
• High dependency on technology integration could pose risks if implementation faces challenges.
• The real estate sector's inflection point due to climate change and AI advancements could lead to increased competition and market volatility.

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.

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SOURCE Fifth Wall

FAQ

What is the recent partnership Federal Realty (FRT) announced?

Federal Realty announced a partnership with Fifth Wall to integrate advanced AI and sustainability technologies.

When did Federal Realty (FRT) announce the partnership with Fifth Wall?

Federal Realty announced the partnership on May 16, 2024.

How many properties does Federal Realty (FRT) own?

Federal Realty owns 102 properties.

What is the main focus of Federal Realty's (FRT) partnership with Fifth Wall?

The focus is on integrating advanced AI and sustainability technologies across their portfolio.

How much square footage does Federal Realty's (FRT) portfolio cover?

Federal Realty's portfolio covers approximately 26 million square feet.

Who is the CEO of Federal Realty (FRT)?

Don Wood is the CEO of Federal Realty.

What does Fifth Wall specialize in?

Fifth Wall specializes in improving, future-proofing, and decarbonizing the built world.

How many strategic Partners does Fifth Wall have?

Fifth Wall has over 110 strategic Partners globally.