Federal Realty closes transactions related to UPREIT reorganization

Federal Realty Investment Trust completed the transactions needed to implement a corporate reorganization into an umbrella partnership real estate investment trust.

The restructuring involves the merger of FRT Holdco REIT unit FRT Merger Sub REIT with and into the original shopping center REIT, which went into effect Jan. 1.

The old REIT rebranded as Federal Realty Interim Real Estate Investment Trust, while FRT Holdco was renamed Federal Realty Investment Trust.

The former entity also expects to convert into a Delaware limited partnership known as Federal Realty OP LP, from a Maryland REIT, effective Jan. 4.