Federal Realty Acquires Retail Destination in Alabama for $498M
Federal Realty Investment Trust (FRT) has acquired The Summit, a retail destination in Alabama, from the original developer for $498 million on a net basis. The Summit is an approximately 870,000-square-foot open-air property.
Federal Realty Investment Trust (FRT) said Thursday it has acquired The Summit, Alabama’s retail destination, from the original developer for $498 million on a net basis. The Summit spans 100 acres and is an approximately 870000-square-foot open-air property.