Federal Realty Sells Misora at Santana Row as Part of Ongoing Capital Recycling Program

Proceeds support long-term growth initiatives; transaction brings recent capital recycling activity to $475M at attractive yields

NORTH BETHESDA, Md., Feb. 5, 2026 /PRNewswire/ — Federal Realty Investment Trust (NYSE: FRT) today announced the sale of Misora Apartments, a 212-unit Class A residential community at Santana Row in San Jose, California, for $148.5 million.

Misora, a peripherally located residential component of Santana Row, marks Federal Realty’s first sizeable disposition of 2026. The company also completed the sale of Courthouse Center, a 33,000-square-foot neighborhood shopping center located in Rockville, Maryland for $10.0 million.

These transactions follow a series of asset sales completed in 2025, including Levare Apartments at Santana Row, Pallas at Pike & Rose, and select mature retail assets such as Hollywood Boulevard in Los Angeles, California and Bristol Plaza in Bristol, Connecticut. Collectively, Federal Realty has generated nearly $475 million of disposition proceeds over the past several quarters at a blended cap rate in the low 5% range.

“We’ve been doing this for decades: pruning, reinvesting, and staying patient when the environment demands it,” said Don Wood, President and CEO of Federal Realty. “That discipline, combined with the embedded value in our portfolio, creates a meaningful cost of capital advantage and allows us to reinvest in higher-return opportunities while preserving financial flexibility.”

About Federal Realty

Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets and select underserved regions with strong economic and demographic fundamentals. Founded in 1962, Federal Realty’s mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. This includes a portfolio of open-air shopping centers and mixed-use destinations—such as Santana Row, Pike & Rose and Assembly Row—which together reflect the company’s ability to create distinctive, high-performing environments that serve as vibrant destinations for their communities. As of September 30, 2025, Federal Realty’s 103 properties include approximately 3,600 tenants in 27.9 million commercial square feet, and approximately 3,000 residential units. 

Federal Realty has increased its quarterly dividends to its shareholders for 58 consecutive years, the longest record in the REIT industry. The company is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.federalrealty.com.

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SOURCE Federal Realty Investment Trust