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Why This Major REIT is Targeting Iconic Assets

MIAMI—The firm and its local has invested close to $200 million in the Miami market within the past year.

By Jennifer LeClaire | Updated on January 23, 2016

MIAMI—Federal Realty Investment Trust is on a mission to reboot some of South Florida’s most iconic properties. In 2015, the publicly-traded REIT purchased CocoWalk for $87.5 million and Sunset Place for $110.2 million in partnership with Comras Co. and Grass River Property.

These purchases represented the firm’s entry into the Miami market, and it appears the firm is just getting started. GlobeSt.com caught up with Chris Weilminster, executive vice president and president of the Mixed-Use Division for Federal Realty Investment Trust, to find out why the firm is so interested in South Florida and how these properties are morphing under new ownership in part one of this exclusive interview.

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