Mixed-Use Communities. Rows of Success.

Mixed-Use Communities. Rows of Success.

REdevelopment experienced Community Washington, DC Mixed-use high quality management URBAN retail DESIGN development operate DISTINCTIVE SHOPPING location san jose attractive environments foundations of opportunity strategic MERCHANDISING

Foundations of Opportunity: Row after Row after Row. Federal Realty Investment Trust strives to create urban districts and places that are identifiable, that are unique, and that serve the surrounding neighborhoods. While each of our mixed-use communities has its own distinct personality, they all share several attributes including a walkable, enduring design, organized around an energetic and inviting public realm. Federal Realty has repeatedly set the standard with our signature portfolio, featuring such notable properties as Santana Row in San Jose, California; Bethesda Row in Bethesda, Maryland; and Rockville Town Square in Rockville, Maryland. Urban Design Federal Realty works diligently and creatively to establish and implement urban design metrics that both improve property aesthetics and contribute to long-term financial results. Because a high-quality built environment typically lengthens consumer visits which in turn increases retail revenue Federal Realty pays acute attention to factors that create an inviting ambiance. Aspects of note are sidewalk widths, café zones, landscape standards, signage, public use space and associated amenities, as well as vertical building and ground plane connections. Community Connectivity A mixed-use property creates an experience that connects shoppers, diners, workers, and residents. By connecting the community through its physical adjacencies, and by establishing strong relationships, Federal Realty continues to create vibrant districts to live, work, shop, and dine. The residential community, the business community, the political process and investment all coupled with private investment and development objectives have created a tremendous sense of community accomplishment at our locations nationwide. Merchandising For Federal Realty, high-quality retail is defined as satisfying the needs of the surrounding community. Balance and diversity define our merchandising strategy. From national tenants to local boutiques, mom-and-pop tenants, and all concepts in between, Federal Realty has approached merchandising objectives for our mixed-use properties by providing a broad mix of tenants and a wide range of services with a distinctly unique flavor. Public Private Partnerships Creating great urban places that are economically viable requires the formation of strong public partnerships. Throughout Federal Realty s mixed-use portfolio, we have demonstrated our commitment to crafting successful partnerships with local municipalities, including direct investments in infrastructure; the creation of TIF, parking, and BID districts; and the development of public uses like libraries and cultural arts buildings.

BETHESDA ROW Bethesda Row in Bethesda, Maryland is a prime example of Federal Realty s ability to create exciting destination retail centers. Located just two short blocks from the Bethesda Central Business District, Bethesda Row showcases a highly desirable collection of shops, restaurants, and cafés with easy access to the Metro rail. The first key component initiated in 1993 to create this vibrant new retail district was securing a lease with Barnes & Noble. A sophisticated street and sidewalk design and strict public space standards followed which, once implemented, brought the district to life and set the tone for the phases to follow. Façade renovation on the south side of Bethesda Avenue and the addition of buildings on Elm Street and Woodmont Avenue further enlivened the district. In 2007, the first residential component was added to Bethesda Row, along with 43,000 square feet of premium retail space. Bethesda Lane at Bethesda Row is now home to residents of Upstairs at Bethesda Row, 180 luxurious apartment homes just steps from the center s amenities. 2010 welcomed premier gym Equinox to the property in the latest phase at Bethesda Row, a 45,000-square-foot building at the corner of Woodmont Avenue and Hampden Lane. With clear development objectives, principled design standards, and open, flexible communication with local community, business, and political leaders, Federal Realty was able to create the truly unique and recognizable district that is today known as Bethesda Row. Use: Retail + Office + Residential Size: Retail 337,000 SF Office 183,000 SF Residential 180 units

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Pentagon Row Pentagon Row sets a new standard for urban shopping, dining, and living in the heart of Arlington, Virginia. The property is located within minutes of the Pentagon, within walking distance of the Pentagon City Metro station, and is surrounded by more than 2,500 high-rise residential units. Pentagon Row also offers high visibility and easy access from I-395, the major north south connector between suburban Virginia and Washington, DC. Beyond its convenient location, Pentagon Row features an unrivaled selection of retailers and amenities that draw visitors from near and far. With 296,000 square feet of specialty and necessity retail, Pentagon Row features a diverse collection of restaurants and outdoor cafés, 500 apartment residences, and a central urban square complete with a full-size skating rink and public space. Pentagon Row was developed in partnership with Post Properties and is owned, operated, leased, and managed by Federal Realty. Use: Retail + Residential Size: Retail 296,000 SF Residential 500 units

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Rockville Town Square Rockville Town Square reflects the transformation of 12.5 acres of aging strip retail into a vibrant mixed-use setting and community focal point. Located in the heart of Rockville, Maryland, a close-in suburb of Washington, DC, Rockville Town Square is the result of a robust public-private partnership. Spearheaded by Federal Realty, a coalition of the City of Rockville, Montgomery County, and RD Rockville (a residential developer) was formed to complete this project. The group collaborated closely to plan the arrangement and character of Rockville Town Square, viewed as a prime setting for redevelopment, given the property s location along Rockville Pike, a major thoroughfare, and its proximity to public transportation. A significant public investment was instrumental to assemble the land, construct the infrastructure, create a public parking district, and build a new regional library and cultural arts center. Rockville Town Square has proven highly successful with residents in the region who frequent the new county library, cultural arts center, and dozens of nationally renowned and locally owned stores and restaurants. The property s features have also attracted hundreds of residents who now call Rockville Town Square home at the more than 640 residential units of Palladian Condominiums and Fenestra Apartments. Use: Retail + Residential + Cultural Arts Center Size: Retail 180,000 SF Residential 648 units Cultural Arts Center 25,000 SF

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Santana Row Santana Row, Federal Realty s 638,000-square-foot, mixed-use development in the heart of San Jose, California, is Silicon Valley s premier destination for shopping, dining, living, working, and nightlife. Surrounded by landscaped gardens, parks, and plazas, Santana Row features over 70 retail shops, more than two dozen acclaimed restaurants, a 213-room boutique hotel, and a six-screen movie theatre. In addition to the dynamic retail collection, Santana Row offers 514 residential units, featuring a fitness center, a rooftop pool, and resort-living accommodations. 2010 welcomed the opening of Santana Row s newest address, 300 Santana Row, a LEED Gold certified building with 65,000 square feet of Class A office space and 15,000 square feet of premium ground-floor retail. Nationally and internationally recognized, and distinguished from other North American neighborhoods by its Mediterranean ambience and attention to detail, Santana Row has fountains imported from Barcelona, a kaleidoscope of flower boxes and planters, a 17th-century façade from a French chapel, and a unique color palette that make the project unmistakable and memorable. In addition, scores of benches and plenty of green space including a prominent park offer a sense of ease for residents and visitors alike. With shopping, dining and spa options located just steps away, and an abundance of entertainment venues, residents of the condominium and apartment units at Santana Row enjoy resort-style living every day. Pedestrian-friendly streets, events that cater to the whole family, and a diverse shopping and dining experience are just a few reasons why Federal Realty s Santana Row has been recognized worldwide as a premier urban destination. Use: Retail + Office + Residential + Hotel Size: Retail/Office 638,000 SF residential 295 rental units + 219 condominiums 108 new rental units in 2011 Hotel 213 rooms Santana Row was awarded 2010 Project of the Decade by the Silicon Valley/ San Jose Business Journal.

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THE Village at Shirlington The Village at Shirlington is a unique shopping, living, working, and dining destination in a world-class business and tourist area located just five miles southwest of Washington, DC. The Village at Shirlington includes a live-action performing arts theatre, a community library, a Harris Teeter grocery store, 400 residential units, and 300,000 square feet of office space. Federal Realty led the master planning and development process for this project and formed a public-private partnership with Arlington County to complete a land swap, develop public parking, and construct the new community facilities that anchor the main street. Complete with a robust marketing program that includes year-round events and entertainment, The Village at Shirlington is right in the heart of Arlington, Virginia just minutes from the nation s capital and offers the chance to live, work, shop, and play in one neighborhood. Use: Retail + Residential + Office + Cultural/Community Size: Retail 255,000 SF Residential 400 units Office 300,000 SF Cultural/Community Signature Theatre and Arlington County Public Library

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About Federal Realty NORTHERN CALIFORNIA SOUTHERN CALIFORNIA CHICAGO BOSTON NEW YORK PHILADELPHIA BALTIMORE WASHINGTON, DC SOUTH FLORIDA

Federal Realty is built upon foundations of opportunity. We take a disciplined approach to every aspect of commercial retail real estate. Whether it s redevelopment, property management, or acquisitions, we make sound decisions based on solid demographics, broad experience, and stable resources. This has led to a high-quality portfolio of assets. We turn commercial real estate into exciting destination retail centers that suit their exceptional locations; retail centers that work not only for neighborhoods and retailers, but for investors as well. As an equity real estate investment trust (REIT), Federal Realty specializes in the ownership, management, development, and redevelopment of high-quality retail properties, including shopping centers and urban, mixed-use properties. Our portfolio of 18.2 million square feet is located in strategically selected metropolitan markets in the Northeast, Mid-Atlantic, California, and Florida. The Trust s principal competitive advantages stem from property locations, which are widely recognized for having very strong demographics, including dense populations, high household incomes, and significant barriers to entry. These competitive advantages result in strong consumer demand, outstanding sales, and superior operating results. A key element of the Trust s strategy for maximizing income and increasing property value is redevelopment and remerchandising. From simple improvements such as façade renovations to more comprehensive reconfigurations, these redevelopments typically improve rental and occupancy rates. In addition, the Trust has significant experience in the master planning, design, redevelopment, and operations of mixed-use properties. Investments in these redevelopments are justified on a returnon-invested-capital basis, include risk mitigation measures, and compete for capital with acquisition opportunities available to the Trust. Also contributing to the future growth of Federal Realty is the ability to acquire operating properties within our core markets that possess valueenhancing opportunities. In addition, Federal Realty seeks to acquire stabilized, supermarket-anchored shopping centers in the Trust s target markets. Over its 48-year history, Federal Realty has produced an outstanding track record, including growth in dividends per share. The Trust has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 43 consecutive years, the longest consecutive record in the REIT industry. Shares of Federal Realty are traded on the New York Stock Exchange under the symbol FRT. For additional information about Federal Realty, please visit www.federalrealty.com.

CORPORATE HEADQUARTERS 1626 East Jefferson Street Rockville, MD 20852-4041 PH 301.998.8100 FX 301.998.3700 REGIONAL OFFICES Boston 5 Middlesex Avenue, Suite 401 Somerville, MA 02145 PH 617.684.1500 FX 617.623.3601 Philadelphia 50 East Wynnewood Road, Suite 200 Wynnewood, PA 19096 PH 610.896.5870 FX 610.896.5876 San Jose 3055 Olin Avenue, Suite 2100 San Jose, CA 95128-2069 PH 408.551.4600 FX 408.551.4616 South Florida 7015 Beracasa Way, Suite 204 Boca Raton, FL 33433 PH 561.347.6522 FX 561.368.6223 www.federalrealty.com