August 18, 2009 (FinancialWire) — Federal Realty Investment Trust (NYSE: FRT) said it has closed on $265 million of capital raising activities, comprised of $150 million of 5.95% senior unsecured notes and $115 million of common shares of beneficial interest, which includes the underwriters’ over-allotment option.

The company plans to utilize the proceeds to pursue acquisition opportunities, fund its redevelopment pipeline, pay down its $372 million term loan, and for general corporate purposes.

Federal Realty CFO Andrew Blocher said, “Both the unsecured notes and common equity offering were significantly oversubscribed at very favorable terms, demonstrating continued strong demand for Federal Realty securities from both fixed income and equity investors.”

The company is revising its 2009 FFO per diluted share guidance to reflect the receipt of proceeds from both the unsecured notes and common equity offering. The new guidance, of FFO per diluted share of $3.72 to $3.77, excludes a litigation charge, and assumes the trust holds the proceeds in cash through the end of 2009.

Rockville, Maryland-based Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management and redevelopment of retail and mixed-use properties located primarily in metropolitan markets in the Northeast, Mid-Atlantic, and California.

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