The stores in the portfolio range from the recently constructed in 2002 to 42-year old assets. In Falls Church, Whole Foods supermarket anchors Idylwood Plaza and Giant Food supermarket anchors Loehmann's Plaza. A Giant Food also anchors Leesburg Plaza in Leesburg, while in Arlington, Harris Teeter anchors Pentagon Row.
Goodsite cited the portfolio's strength and Federal Realty's experience as the reasons for providing the loan. Prudential did not return a call to GlobeSt.com in time for publication.
Headed by Donald Wood, Federal Realty Investment Trust has been steadily shoring up its financial position for the last several months. "We've completed our '09 financing goals, with the $372-million unsecured term loan, and $139 million of secured financing," Andrew Blocher, Federal Realty's SVP of capital markets, said in an earnings call on August 5.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
