Federal RealtyInvestment Trust priced its $250 million public of 3.625% senior unsecurednotes due Aug. 1, 2046.

The notes were offered at 97.756% of the principal amountwith a yield to maturity of 3.750%. The company will pay interest on the noteson Feb. 1 and Aug. 1 of each year, beginning Feb. 1, 2017.

Net proceeds will go toward paying down the outstanding balanceunder the company's revolving credit facility and for general corporatepurposes.

Wells Fargo Securities LLC, Deutsche Bank Securities Inc.and U.S. Bancorp Investments Inc. acted as joint book-running managers for theoffering, while PNC Capital Markets LLC, Citigroup Global Markets Inc., RegionsSecurities LLC, SunTrust Robinson Humphrey Inc. and TD Securities (USA) LLCacted as co-managers.

Federal Realty expects the offering to close on July 12.