Company: FRT-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000034903-25-000063
Chunk: 90

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 2
Chunk 90
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 rate swap agreements. We have two one-year extensions, at our option to extend the maturity date of this mortgage loan to December 28, 2027.

(3)The interest rate on this mortgage loan is fixed at 3.67% through two interest rate swap agreements. 

(4)The interest rates on these mortgages range from 3.91% to 5.00%.

(5)Our revolving credit facility SOFR loans and our term loan bear interest at Daily Simple SOFR, as defined in the respective credit agreements, plus a spread, based on our current credit rating. Our revolving credit facility also includes a 0.10% adjustment to SOFR, which was removed through an amendment to the agreement on October 30, 2025.

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(6)The Operating Partnership is the named obligor under our revolving credit facility, and senior notes and debentures. Effective March 20, 2025, the Operating Partnership and a wholly owned subsidiary of the Operating Partnership are both named obligors of the term loan.

(7)Effective September 2, 2025, the interest rate on $300.0 million of our term loan is fixed at a weighted average interest rate of 4.21% through March 1, 2028 through four interest rate swap agreements.

(8)The maximum amount drawn under our $1.25 billion revolving credit facility during both the three and nine months ended September 30, 2025 was $315.3 million and the weighted average interest rate on borrowings under our revolving credit facility, before amortization of debt fees, was 5.2% for both periods.

Our revolving credit facility, unsecured term loan, and other debt agreements include financial and other covenants that may limit our operating activities in the future. As of September 30, 2025, we were in compliance with all financial and other covenants related to our revolving credit facility, term loan, and senior notes. Additionally, we were in compliance with all of the financial and other covenants that could trigger a loan default on our mortgage loans. If we were to breach any of these financial and other covenants and did not cure the breach within an applicable cure period, our lenders could require us to repay the debt immediately and, if the debt is secured, could immediately begin proceedings to take possession of the property securing the loan. Many of our debt arrangements, including our public notes and our revolving credit facility, are