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ROCKVILLE, Md., Jan. 7, 2021 /PRNewswire/  Federal Realty Investment Trust (NYSE: FRT) today announced the sale of The Shops at Sunset Place in South Miami Florida along with the sales of two of its more traditional shopping centers in Washington, D.C. and Chapel Hill, North Carolina for combined gross proceeds of $170 million. All three sales closed prior to year-end 2020 and the properties were not central to the Company s future growth plans.
Separately, the Trust repaid at par its $250 million 2.55% senior unsecured notes due 2021 and redeemed $250 million 3.00% senior unsecured notes due 2022. As a result, the Trust has no public bonds maturing until June 2023 and begins 2021 with approximately $800 million of cash on the balance sheet and a fully undrawn $1 billion credit facility. ....

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