Funds of Federal Realty Investment Trust (NYSE:FRT) acquired remaining 70% stake in Federal/Lion Venture LP from Clarion Partners, LLC for approximately $150 million on January 13, 2016. The purchase price consists of $130 million of cash and assumption of the allocable share of mortgage debt. With this acquisition, Federal Realty increased its ownership from 30% to 100%. The portfolio includes two properties near Boston, Massachusetts (Atlantic Plaza and Campus Plaza); one asset in the New York Metro region (Greenlawn Plaza on Long Island) and three centers in the Washington DC market (Free State Shopping Center and Plaza del Mercado in Suburban Maryland, and Barcroft Plaza in Northern Virginia).


Funds of Federal Realty Investment Trust (NYSE:FRT) completed the acquisition of remaining 70% stake in Federal/Lion Venture LP from Clarion Partners, LLC on January 13, 2016.