Company: FRT-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000034903-25-000063
Chunk: 30

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 30
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 is a summary of our outstanding interest rate swap agreements as of September 30, 2025: Interest Rate SwapNotional AmountMaturity Date of Related Swap AgreementsWeighted Average Interest RateBalance Sheet LocationFair Value(in millions)(in millions)Term Loan (1)$300.0 March 1, 20284.21 %Other liabilities$(0.3)Bethesda Row200.0 December 28, 20255.03 %Other liabilities(0.1)Hoboken51.0 December 15, 20293.67 %Prepaid expenses and other assets3.2 $551.0 $2.8 (1) These interest rate swaps were entered into during the three months ended September 30, 2025, and fix the interest rate on $300.0 million of our unsecured term loan.The fair values of the interest rate swap agreements are based on the estimated amounts we would receive or pay to terminate the contracts at the reporting date and are determined using interest rate pricing models and interest rate related observable inputs. For the three and nine months ended September 30, 2025, the value of our interest rate swaps decreased $0.7 million and $2.4 million, respectively (including $0.7 million and $1.7 million, respectively, reclassified from other comprehensive income as a decrease to interest expense). A summary of our net financial assets that are measured at fair value on a recurring basis, by level within the fair value hierarchy is as follows:September 30, 2025December 31, 2024Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total(In thousands)Interest rate swaps$— $2,822 $— $2,822 $— $5,208 $— $5,208 

One of our equity method investees has two interest rate swaps which qualify for cash flow hedge accounting. For the three and nine months ended September 30, 2025, our share of the change in fair value of the related swaps included in "accumulated other comprehensive income" was a loss of less than $0.1 million and $0.3 million, respectively.  

NOTE 6—COMMITMENTS AND CONTINGENCIES

We are sometimes involved in lawsuits, warranty claims, and environmental matters arising in the ordinary course of business. Management makes assumptions and estimates concerning the likelihood and amount of any