Company: FRT-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000034903-25-000063
Chunk: 97

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 3
Chunk 97
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 instruments at September 30, 2025 had been 1.0% higher, the fair value of those debt instruments on that date would have decreased by approximately $144.3 million. If market interest rates used to calculate the fair value on our fixed-rate debt instruments at September 30, 2025 had been 1.0% lower, the fair value of those debt instruments on that date would have increased by approximately $160.7 million.

Variable Interest Rate Debt

Generally, we believe that our primary interest rate risk is due to fluctuations in interest rates on our outstanding variable rate debt. At September 30, 2025, we had $552.4 million of variable rate debt outstanding ($450.0 million of our unsecured term loan and $102.4 million outstanding in our revolving credit facility). Based upon this amount of variable rate debt and the specific terms, if market interest rates increased 1.0%, our annual interest expense would increase approximately $5.5 million with a corresponding decrease in our net income and cash flows for the year. Conversely, if market interest rates decreased 1.0%, our annual interest expense would decrease by approximately $5.5 million with a corresponding increase in our net income and cash flows for the year.