On January 11, 2024, the Operating Partnership issued $485.0 million aggregate principal amount of 3.25% Exchangeable Senior Notes due 2029 in a private placement, the company said. Net proceeds after the initial purchaser's discount and offering costs were approximately $471.5 million.

1. 01

   On January 11, 2024, the Operating Partnership issued $485.0 million aggregate principal amount of 3.25% Exchangeable Senior Notes due 2029 in a private placement, the company said. Net proceeds after the initial purchaser's discount and offering costs were approximately $471.5 million.

2. 02

   The company acquired the fee interest in Virginia Gateway on May 31, 2024 for $215.0 million and the fee interest in Pinole Vista Crossing on July 31 for $60.0 million. It sold Third Street Promenade and a portion of White Marsh Other in 2024 for a combined sales price of $106.8 million, resulting in a gain on sale of $53.8 million.

3. 03

   Federal Realty said net cash used in financing activities increased $218.4 million to $252.3 million in 2024 from $33.8 million in 2023. The company cited the repayment in January 2024 of $600.0 million 3.95% senior unsecured notes at maturity as one of the factors.

4. 04

   As of December 31, 2024, the company said debt maturing within the next 12 months totaled $848.1 million, of which $600.0 million was related to its term loan. The term loan matures in April 2025 and has a 1-year option to extend the maturity date to April 2026.

Key figures

Fiscal year ended December 31, 2024

Revenue

$1.2B

Operating income

$472M

Net income

$295M

EPS

$3.42

Operating cash flow

$575M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.