COMING SOON: GlobeStRETAIL.com. Keep watching fordetails!
Some $350 million in shopping-center acquisitions are in thefuture for the newly hatched joint venture between Federal RealtyInvestment Trust and Clarion Lion Properties Fund. The venture,which GlobeSt.com reported in mid-July, brings to Rockville,MD-based Federal an opportunity to grow a portfolio of stabilizedassets as opposed to value-added opportunities, which accounts forboth the REIT's mainline strategy and its current 16.9-million-sfportfolio, says president and CEO Donald Wood. In an exclusiveinterview, Wood recently detailed the courtship and marriage of thetwo entities and explained what the future holds for the newlyweds,especially as the interest-rate environment--and possibly consumerspending habits--begins to shift.
GlobeSt.com: How long were you talking to Clarionbefore shaking hands?
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
