Federal Realty Investment Trust · NYSE:FRT
Federal Realty Investment Trust — Merger or Acquisition (October 2026)
11 slides from Federal Realty Investment Trust's merger presentation, October 2026
Slide 1: The Summit Birmingham Acquisition
The Summit Birmingham Acquisition BIRMINGHAM, AL
Slide 2: Safe Harbor and Non-GAAP Information
Safe Harbor and Non-GAAP Information Certain matters included in this presentation may be forward looking statements within the meaning of federal securities laws. Actual future performance and results may differ materially from those included in forward looking statements. Please refer to our most
Slide 3: Executive Summary
Executive The Destination for Premier Retail in Alabama Summary • ~9 million visits annually with an average dwell time of over 1 hour. • Pulls from 100-mile trade area; no significant lifestyle retail competition within 80 miles. • Proven hub for market entry—home to the only AL locations for: Arha
Slide 4: The Summit: Birmingham's Dominant Lifestyle Destination
The Summit Birmingham’s Dominant Lifestyle Destination #1 Trader Joe’s in AL, top 10% in US 1 #3 Abercrombie & Fitch in US 1 #1 Belk in US1 #1 AMC in Alabama 1 Premier Location In Affluent, Highly Desirable Area High 5-mile Household Retail Spend: $50K spent on retail goods annually – 52%
Slide 5: ~20%+ of Occupied GLA Rolls Through 2030 With Meaningful Mark-to-Market
~20%+ of Occupied GLA Rolls Through 2030 With Meaningful Mark-to-Market CASH YIELDS ~7% 6.5% Year 5 ~7% Year 1 GAAP yield 6.2% Year 1 pro forma in-place contractual yield Year 3 LONG-TERM FUNDING SOURCES 8-9% 10-year unlevered IRR $225M $1.5B Disposition Proceeds YTD Potential Disposition Pool 5%+ $
Slide 6: Location Overview
Location Drive Time to The Overview Summit <10 MIN 10-20 MIN The Summit is situated at the intersection 20-30 MIN Birmingham-Shuttlesworth Airport of I-459 and US 280, where the combined AADT is over 180,000 cars per day1. The center is within 20 minutes of almost Downtown everything in Birmingham.
Slide 7: Strategically Situated Amongst Birmingham's Wealthiest Consumers
Strategically Situated Amongst Birmingham’s Wealthiest Consumers BIRMINGHAM • Homewood and Vestavia Hills boast the top 1 and 2 public school districts in MOUNTAIN BROOK Alabama and top 1-2% nationally.1 • Mountain Brook’s median single-family HOMEWOOD home sale price was $1.2M in June 2026.2 VESTAV
Slide 8: Relationships to Build Upon
Relationships 28 NEW RELATIONSHIPS Tenants with no active leases in FRT portfolio pre-Summit acquisition to Build Upon Cultivating strong relationships with flagship retailers helps us and more… drive value across the portfolio, for us, and for our retail partners 71 EXISTING RELATIONSHIPS Represent
Slide 9: Building Scale Across Federal's Central Region
Building Scale Across Federal’s Central Region The Summit Birmingham adds critical mass to an established operating platform spanning Chicago, Omaha, Kansas City, and Birmingham. CENTRAL REGION AT A GLANCE 4 7 2.7M ~250 9% Unique Markets Properties Square Feet Total POI Tenants CHICAGO OMAHA DEMOS &
Slide 10: The Summit: Birmingham's Premier Retail Destination
The Summit: Birmingham’s Premier Retail Destination Featured Tenants 10
Slide 11: Notes
Notes Page 5: All property level financial information included on this page is based on the financial underwriting used by the company to acquire The Summit (“Underwriting”) and represents the company’s best estimate of the results we expect to achieve from The Summit during the period of time incl
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