Company: FRT-PC
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000034903-25-000052
Chunk: 26

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 26
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,461)Interest expense$87,073 $88,005 Cash paid for interest, net of amounts capitalized$82,424 $86,045 Cash paid for income taxes$320 $191 NON-CASH INVESTING AND FINANCING TRANSACTIONS:Shares issued under dividend reinvestment plan$796 $839 DownREIT operating partnership units redeemed for common shares$103 $366  June 30,December 31,20252024 (In thousands)RECONCILIATION OF CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:Cash and cash equivalents$177,003 $123,409 Restricted cash (1)26,619 12,034 Total cash, cash equivalents, and restricted cash$203,622 $135,443 (1)Restricted cash balances are included in "prepaid expenses and other assets" on our consolidated balance sheets.

NOTE 3—REAL ESTATE

On February 25, 2025, we acquired the fee interest in Del Monte Shopping Center, a 675,000 square foot, grocery anchored retail shopping center in Monterey, California for $123.5 million. Approximately $17.7 million and $0.8 million of net assets acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively, and $23.5 million of net assets acquired were allocated to other liabilities for "below market leases."During the six months ended June 30, 2025, we sold a residential building at Santana Row, our Hollywood Boulevard property, and a portion of our White Marsh Other property for net proceeds of $146.3 million, resulting in a net gain of $77.1 million.

NOTE 4—DEBT

On January 9, 2025, we repaid a $1.2 million mortgage loan at our Hoboken property, at par.On March 20, 2025, we amended and restated our $600.0 million unsecured term loan, extending the maturity date to March 20, 2028, plus two one-year extensions, at our option. In addition, we have the right until December 20, 2025 to borrow up to an additional $150.0 million in the form of one or more unsecured term loans. Under an accordion feature, we have the right to request additional loans, subject to an aggregate maximum of $1