The Cystic Fibrosis Foundation, Federal Realty Investment Trust (NYSE-listed FRT), and friend and supporter of the foundation, BOWA Builders Inc., visit the New York Stock Exchange in recognition of Cystic Fibrosis Awareness Month. In honor of the occasion, Federal Realty Investment Trust President Don Wood, Joshua Baker of BOWA Builders, Inc. and Cystic Fibrosis Foundation Executive Vice President and COO Richard Mattingly ring The Closing Bell®.
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Cystic fibrosis affects about 30,000 children and adults in the United States and 70,000 people worldwide. The Cystic Fibrosis Foundation has led remarkable advancements in research and care for CF, and has additional therapies in development that could add decades of life for people with this disease.
About Federal Realty
Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management and redevelopment of high quality retail assets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 18.1 million square feet located primarily in strategically selected metropolitan markets in the Northeast, Mid-Atlantic, and California. In addition, the Trust has an ownership interest in approximately 1.0 million square feet of retail space through a joint venture in which the Trust has a 30% interest. Our operating portfolio (excluding joint venture properties) was 94.2% leased to national, regional, and local retailers as of March 31, 2009, with no single tenant accounting for more than approximately 2.6% of annualized base rent. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 41 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P MidCap 400 company and its shares are traded on the NYSE under the symbol FRT.
About BOWA Builders
Founded in 1988, BOWA Builders, Inc. is a full-service residential construction firm specializing in upscale additions, renovations and custom homes, as well as project planning and feasibility assistance. Drawing on twenty years of experience and proven processes, BOWA offers an industry-leading extended warranty, the area's first schedule guarantee and a new incentive program designed to reward clients who elect environmentally conscious upgrades. Serving clients in Suburban Maryland, the District of Columbia and Northern Virginia, BOWA Builders has won more than 100 awards for excellence, including being named National Remodeler of the Year by Professional Remodeler magazine. With offices in McLean and Middleburg, VA, BOWA has 72 employees and generates revenues of more than $37 million annually. For more information, visit www.bowa.com.
The Cystic Fibrosis Foundation is the leading organization in the United States devoted to curing and controlling cystic fibrosis. Headquartered in Bethesda, Md., the Foundation has more than 70 chapters and branch offices throughout the country and accredits a nationwide network of 110 care centers. To advance the search for a cure, the Foundation has built a drug pipeline with more than 30 promising therapies to fight CF, and invested nearly $320 million in CF research in the biotech industry. When the Foundation was established in 1955, few children with the disease lived to attend elementary school. Today, as a result of dramatic improvements in research and care fueled by the Foundation, the median age of survival for people with CF has risen to more than 37 years. For more information, visit www.cff.org.