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Federal Realty Completes Sale of Levare Apartments at Santana Row
Federal Realty Investment Trust (NYSE:FRT) today announced the sale of Levare, a 108-unit Class A residential building located within Santana Row in San Jose, California, for $74 million.
About this update from Federal Realty Investment Trust
[{"type":"text","content":"Disposition of stabilized asset reinforces long-term value creation strategy","length":76,"tagName":"p","attribs":{}},{"type":"text","content":"N. BETHESDA, Md., May 14, 2025 /PRNewswire/ -- Federal Realty Investment Trust (NYSE:FRT) today announced the sale of Levare, a 108-unit Class A residential building located within Santana Row in San Jose, California, for $74 million.","length":239,"tagName":"p"},{"type":"image","alt":"Levare at Santana Row","displaySize":"","headline":null,"caption":"Levare at Santana Row","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":266,"url":"https://media.zenfs.com/en/prnewswire.com/f607df5d7a4130a20e324e08828c0cfb"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/kUZyOeNSXGE4lOhSTKF5Zg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ2OTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/f607df5d7a4130a20e324e08828c0cfb","width":400,"height":266}},"href":"https://mma.prnewswire.com/media/2686823/Federal_Realty_Levare_at_Santana_Row.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Delivered in 2011, Levare has played a meaningful role in the evolution of Santana Row and reached a point in its lifecycle where Federal Realty could monetize its value and reallocate capital toward higher-return opportunities. The property was 95% leased at the time of sale.","length":277,"tagName":"p"},{"type":"text","content":""This transaction reflects our ability to unlock value at the right time and put capital to work where we see the greatest long-term upside," said Jan Sweetnam, Executive Vice President, Chief Investment Officer at Federal Realty. "It's a great example of our broader focus on maximizing returns while continuing to elevate high-performing assets like Santana Row."","length":389,"tagName":"p"},{"type":"text","content":""Levare represents the type of high-quality, well-located multifamily asset that continues to draw strong institutional interest, even in a selective investment environment," said Will Purcell, Director at Eastdil Secured. "Its location within Santana Row—one of the most vibrant and proven mixed-use destinations in the country—made it a particularly compelling offering."","length":393,"tagName":"p"},{"type":"text","content":"Santana Row is Silicon Valley's most prominent mixed-use...