Federal Realty Adds Three to Exec. Staff

ROCKVILLE, MD—Locally-based commercial real estate owner and developer Federal Realty Investment Trust has appointed three veteran real estate executives to its core operating team beginning next month.

The company reports that Jeffrey S. Mooallem has been named senior vice president, managing director core shopping center operations. Mooallem, who will join the trust on June 8, will report directly to president and CEO Donald C. Wood and will be based in the company's headquarters in Rockville. He brings more than 20 years of real estate experience in operations, leasing, acquisitions and development with such companies as Equity One and Turnberry Associates. He will be responsible for 58 shopping centers comprising 11 million square feet and generating nearly $250 million of property level operating income from the Boston suburbs through metropolitan Washington, DC, including portfolios in Philadelphia, Baltimore, New York and New Jersey.

Jarett L. Parker has been named vice president, asset management metro DC region and will report directly to Mooallem when he joins the trust on June 8. Parker will be primarily responsible for the performance of the trust's Metro DC shopping center portfolio, comprised of 17 assets representing more than 3 million square feet and generating more than $90 million of property level operating income. He comes from Kimco Realty Corp, where he spent the last nine years in various positions culminating in director of asset management for a portfolio in the Mid-Atlantic region.

The company also announced that Michael R. Linson will join the company on June 4 as vice president finance for the core shopping center division and will report directly to Mooallem and CFO James Taylor. Linson comes from the Penzance Co., a Washington, DC-based real estate investment company where he served as its senior vice president of asset management and the Mills Corp. (prior to that company's acquisition by Simon Property Group) before that.

"The hiring of these three executives was the result of a thorough search process where an assessment of their ability to work well and relate to each other as well as with our existing team was as critical as their skills and resume," says Wood. "I couldn't be more excited, about the firepower that these three executives, when coupled with executives Wendy Seher, John Tschiderer, Deirdre Johnson, Scott Hall and Chris Fleming and their teams, bring to Federal's fast growing platform. This is as powerful an operating team as there is in our business."

Federal Realty has a portfolio of 90 properties that include more than 2,600 tenants in approximately 21 million square feet, and 1,500 residential units.