UBS-Federal Realty Investment Trust Gold On The Road：Town Center Plaza Crossing-20251013

FRT is driving growth through acquisitions

The key message from FRT is that it has a track record of driving growth through acquisitions, and it expects to replicate this in Kansas City and 3-5 new markets in the next few years. This includes an anticipated new Midwest market by the end of 2025,showcasing the rapid pace it is evolving its portfolio. FRT is focused on accretive recycling into centers that are growing faster than the portfolio average. Thus, we see an encouraging path to accelerating operating metrics and internal growth. It has demonstrated this through its most recent acquisitions. Over time, we expect the stronger growth to become more apparent.