Federal Realty Investment Trust | 2020 Corporate Responsibility Report

Page 24

Our Partnership with Primestor Diversity for Federal doesn’t stop at the doors of our offices. It extends to how we invest in our real estate. We’ve partnered with Primestor Development to own and develop properties in areas of Los Angeles County that serve primarily Black and Latino communities. Primestor is a full-service real estate company that focuses on economic development within underserved and marginalized communities and we partner with their diverse team of professionals who live in these communities to lease and operate the properties. We have committed to invest an additional $2 million to a Primestor-managed real estate fund whose purpose is to invest in projects located in urban, low- and moderateincome, predominantly Latino markets. Our partnership with Primestor provides the needed expertise to extend our investment reach to these historically underserved and marginalized communities. The perspectives we gain from our partnership with Primestor are invaluable, so much so that Arturo Sneider, the co-founder of Primestor, is a full voting member of our Investment Committee, giving us the benefit of his unique perspectives on all our investment decisions greater than $1 million.

PRIMESTOR PARTNERSHIP

9

$400M

Total Properties

1.2M

Total Investment

$54K

Median Household Income

*

Square Feet

83%

Latino Population

*

*Average within a 3-mile radius per Trade Area Systems

21 /

INTRODUCTION

2020 EVENTS

DIVERSITY, EQUITY, & INCLUSION

CLIMATE CHANGE

TEAM SUPPORT

GOOD GOVERNANCE


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