Company: FRT-PC
Filing Date: 2025-02-14
Form Type: 424B5
Source: 0001193125-25-026560
Chunk: 86

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-02-14
Form: 424B5
Chunk 86
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 for such year if we qualify for relief under certain provisions of the Code. Those relief provisions generally will be available if our failure to meet such tests is due to reasonable cause and not due to willful neglect, and we file a schedule of the sources of our income in accordance with regulations prescribed by the Treasury. We may not qualify for the relief provisions in all circumstances. In addition, as discussed above in “ — Taxation of the Company,” even if the relief provisions apply, we would incur a 100% tax on gross income to the extent we fail the 75% or 95% gross income test (whichever amount is greater), multiplied by a fraction intended to reflect our profitability. Asset Tests.To maintain our qualification as a REIT, we also must satisfy the following asset tests at the close of each quarter of each taxable year:

| • |     | At least 75% of the value of our total assets must consist of cash or cash items (including certain receivables                        
 and money market funds), U.S. government securities, “real estate assets,” or qualifying temporary investments (the “75% asset test”). |

| • |     | “Real estate assets” include interests in real property, interests in mortgages on real property and on                                                                                                                                                  
 interests in real property, stock in other REITs, and debt instruments of publicly offered REITs. Real estate assets also include personal property to the extent that rent attributable to such personal property qualifies as rents from real property 
 because it does not exceed 15% of the total rent received under the lease. We believe that the Partnership’s properties qualify as real estate assets.                                                                                                   |

| • |     | “Interests in real property” include an interest in mortgage loans or land and improvements thereon,                                                                                                                                                 
 such as buildings or other inherently permanent structures (including items that are structural components of such buildings or structures), a leasehold of real property, and an option to acquire real property (or a leasehold of real property). |

| • |     | For investments not included in the 75% asset test, (A) the value of our interest in any one issuer’s                                                                                                                                                  
 securities (which does not include our equity ownership in other REITs, the Partnership, any taxable REIT subsidiary or any qualified REIT subsidiary) may not exceed 5% of the value of our total assets (the “5% asset test”), (B) we                
 may not own more than 10% of the voting power or value of any one