ROCKVILLE, Md., June 13, 2011 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) today announced that Jeff Kreshek has joined the Trust as vice president - West Coast leasing. In this role, Mr. Kreshek will be directly responsible for execution and oversight of all leasing efforts on the West Coast, including those at Santana Row and Third Street Promenade, and will advise on acquisition opportunities in the region. Mr. Kreshek will support leasing objectives associated with strategic changes initiated by the recently appointed Jeff Berkes, president - Federal Realty West Coast.
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"The addition of Jeff to our company reflects our commitment to capturing the inherent value we see in our West Coast properties as well as our desire to further grow our Western presence," commented Jeff Berkes, president, Federal Realty West Coast. "Whether it's upcoming leasing opportunities in our existing portfolio or uncovering leasing upside in the acquisition of high-quality retail properties on the West Coast, having Jeff as a member of the team will put us in the best position to create shareholder value both in the near and longer-term."
Mr. Kreshek most recently served as principal - leasing at CIM Group, where he was responsible for the leasing of their urban retail portfolio and nationwide commercial real estate portfolio. Mr. Kreshek was also responsible for leasing Federal Realty's assets on Third Street Promenade from 1999 through 2007, through Federal Realty's partnership with CIM at that time. Prior to CIM, Mr. Kreshek was vice president of development and operations at Regent Properties in Beverly Hills, California, where he managed and directed the development of mixed-use projects in Southern California. Additionally, Mr. Kreshek was president and founder of Vision Property Management, Inc., a full-service retail real estate development, leasing and management company, in Los Angeles, California. Mr. Kreshek is a 1989 graduate of University of Southern California with a Bachelor of Arts in Business Administration, and holds a Master of Business Administration and a Masters of Real Estate Development from University of Southern California. Mr. Kreshek lives in Encino, California with his wife, Lani, and his three children. He is a member of the Institute of Real Estate Management, Commercial Investment Real Estate Institute, and an active member of the International Council of Shopping Centers.
About Federal Realty
Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management, development, and redevelopment of high quality retail assets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 18.6 million square feet located primarily in strategically selected metropolitan markets in the Northeast, Mid-Atlantic, and California. In addition, the Trust has an ownership interest in approximately 1.0 million square feet of retail space through a joint venture in which the Trust has a 30% interest. Our operating portfolio (excluding joint venture properties) was 93.8% leased to national, regional, and local retailers as of March 31, 2011, with no single tenant accounting for more than approximately 2.6% of annualized base rent. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 43 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P MidCap 400 company and its shares are traded on the NYSE under the symbol FRT.
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SOURCE Federal Realty Investment Trust
