This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Federal Realty's CEO Hosts Investor/Analyst Day (Transcript)

And what we’ve done in the last 18 months is to make sure that we put a dedicated team and we would be centralized a little bit. So Jeff Berkes, who you’ll meet, has taken over the role as President of the West Coast. He has built a team, most folks who have been here already, he pulled them together; he has added folks like Jeff Kreshek who are going to meet as Head of Leasing.

And working with the Jan Sweetnam who some of you have met, with Randy Paul on Development; you’re going to see that there is a real West Coast operation that is extremely confident and is extremely responsible if you will for growing this part of Federal Realty’s business and we didn’t know anyway to really do that better than to try to get you out here, so that you can walk the property with them, you can ask them whatever you want, it’s not filtered through me, it won’t be filtered through Andy Blocher; please use this day to get to know these folks and to access for yourself, whether we’ve got a competent group of people here in order for you to feel this West Coast region.

What we have at Santana Row is not a development project. The place has been opened 10 years now and what you are going to walk through is one of the most stable shopping centers in the portfolio. I am going to show you some numbers; I am going to talk about some numbers in terms of the property. This is as you know the thing opened at about a about a 3.5 cap or something like that, so it certainly wasn’t going to make a lot of money.

The question was, well okay, if you did it in the right location, if you can get through that for two or three of truly disaster from a capital loss perspective, then would the value of the real estate, would the area that we build in, with the product that we build, we will be able to overcome those first two, three, four, five years of planning, construction and opening.

4 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs