THE FEDERATED COMPANIES ANNOUNCES THE SALE OF ITS’ REMAINING RETAIL ASSET
Miami, FL – May 11, 2011 – (RealEstateRama) — The Federated Companies, a leading national real estate investment and development firm, is pleased to announce that it has completed the sales of its’ remaining retail asset located at 115 Washington Street in Attleboro, Massachusetts. Built in 2007, this free-standing retail building is 15,950 square feet and is fully occupied by Goodwill Industries. It was sold to a private seller for $2.625 million.
“Over the last 12 years, the Federated Companies has adapted to changing market conditions by shifting its focus between multiple real estate asset classes including residential and retail acquisition and development,” stated Dung Lam, Chief Executive Officer of the Federated Companies. “Our most recent sale of the Attleboro property is indicative of our focus back to multifamily development and the strength in market fundamentals of this asset class. This strategy began in 2009 and since that time, we have accumulated development rights of over 3,000 units.”
Between 2005 and 2008, the Federated Companies was primarily focused on the development of single tenant net lease retail assets. However, as the economy began to erode and real estate fundamentals weakened, The Federated Companies disposed of its’ retail portfolio with the Attleboro building as the last remaining asset.
The Federated Companies has been quite aggressive in 2011. The company has already acquired four development projects in 2011 (Lynn, MA; Salisbury, MA; Portland, ME; and Wakefield, MA), and has eight additional development projects in the pipeline totaling over 3,000 units.
About the Federated Companies
The Federated Companies is a vertically integrated national real estate investment and development firm with offices in Boston, Massachusetts and Miami, Florida. Founded in 1999, the company has excelled as both a merchant developer and owner/operator of assets. The company has an exceedingly successful track record in both residential and commercial real estate. The firm’s management has effectively developed and managed over 7,500 units of residential housing with an aggregate value of over $1.5 billion. The Federated Companies has also successfully developed retail property for many of the nation’s largest restaurants, retailers, and financial institutions. The firm is a member of the Unites States Green Building Council and a Federal Energy Star Partner.
Contact:
Suzanne Tamargo
Vice President of Marketing
The Federated Companies
(786) 353-0537
