Federal Realty Investment Trust, Rockville, Md., has agreed to sell approximately 2.81 million common shares of beneficial interest in a public offering underwritten by Wachovia Securities.The real estate investment trust said it expects the sale to generate net proceeds of approximately $85.7 million. The proceeds, along with borrowings under Federal Realty's revolving credit facility, will be used to redeem the REIT's 7.95% series A cumulative redeemable preferred shares. The company can be found online at http://www.federalrealty.com.
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