The first sale in The Summit's history adds Alabama's most-visited retail destination to the portfolio at a price immediately accretive to FFO per share

NORTH BETHESDA, Md., Oct. 1, 2026 /PRNewswire/ -- Federal Realty Investment Trust (NYSE:FRT) today announced the acquisition of The Summit, Alabama's premier retail destination, for $508 million ($498 million on a net basis). Acquired from the original developer, this 100-acre, approximately 870,000-square-foot open-air property developed over more than 30 years is the most-visited retail destination in Alabama, drawing nearly 9 million visits annually from a trade area reaching 100 miles in every direction according to Placer.ai.