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FRT vs NEN

Federal Realty Investment Trust and New England Realty Associates Limited Partnership

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Federal Realty Investment Trust

Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets and select underserved regions with strong economic and demographic fundamentals. Founded in 1962, Federal Realty's mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. This includes a portfolio of open-air shopping centers and mixed-use destinations"such as Santana Row, Pike & Rose and Assembly Row"which together reflect the company's ability to create distinctive, high-performing environments that serve as vibrant destinations for their communities. Federal Realty's 103 properties include approximately 3,600 tenants in 27.9 million commercial square feet, and approximately 3,000 residential units. Federal Realty has increased its quarterly dividends to its shareholders for 58 consecutive years, the longest record in the REIT industry. The company is an S&P 500 index member, and its shares are traded on the NYSE under the symbol FRT.

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New England Realty Associates Limited Partnership

New England Realty Associates Limited Partnership engages in acquiring, developing, holding for investment, operating, and selling of real estate properties in the United States. It owns and operates various residential buildings and properties; mixed use residential, retail, and office properties; commercial properties; and condominium units located in Massachusetts and New Hampshire. NewReal, Inc. serves as the general partner of the company. New England Realty Associates Limited Partnership was incorporated in 1977 and is headquartered in Allston, Massachusetts.

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