Company: FRT-PC
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000034903-25-000016
Chunk: 70

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 70
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 CocoWalk property for approximately $12.4 million, 

partially offset by,

•a $172.2 million increase in net proceeds from the issuance of common shares under our ATM program,

•a $125.8 million net increase in proceeds from the issuance of senior notes due to net proceeds of $471.5 million from the issuance of $485.0 million 3.25% exchangeable senior notes in January 2024, as compared to $345.7 million in net proceeds from the issuance of $350.0 million of 5.375% senior unsecured notes in April 2023, and

•a $55.0 million decrease in repayment of mortgages, finance leases, and notes payable primarily due to the October 2023 finance lease buyout (see Note 3 to the consolidated financial statements for additional information)

Cash Requirements

The following table provides a summary of material cash requirements comprising our fixed, noncancelable obligations as of December 31, 2024:

 Cash Requirements by PeriodTotalNext Twelve MonthsGreater than Twelve Months(In thousands)Fixed and variable rate debt (principal only) (1)$4,496,724 $848,130 $3,648,594 Fixed and variable rate debt - our share of unconsolidated real estate partnerships (principal only)(2)62,467 34,877 27,590 Lease obligations (minimum rental payments) (3)287,930 6,608 281,322 Redevelopments/capital expenditure contracts252,365 228,394 23,971 Real estate commitments (4)9,713 — 9,713 Total estimated cash requirements$5,109,199 $1,118,009 $3,991,190 

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(1)The weighted average interest rate on our fixed and variable rate debt is 3.9% as of December 31, 2024. Of the $848.1 million of debt maturing in the next twelve months as of December 31, 2024, $600.0 million is related to our term loan, which has a one-year option to extend the April 2025 maturity date to April 2026. Additionally, we have two one-year extensions, at our option, to extend the December 2025 maturity date of our $200.0 million mortgage loan secured by Bethesda Row to December 2027.

(2)The weighted average interest