<PAGE>
EXHIBIT 99
FEDERAL REALTY INVESTMENT TRUST
Supplemental Information
June 30, 2000
TABLE OF CONTENTS
<TABLE>
<S> <C>
1. Debt Summary....................................................... E-2
2. Occupancy
Percentage Leased............................................. E-3
Regional Breakdown............................................ E-4
3. Leases Signed Analysis
Comparable and Non-Comparable................................. E-5
4. Street Retail Operating & Development Overview..................... E-6
5. Development Pipeline............................................... E-7
6. Second Quarter Earnings Press Release, July 26, 2000............... E-8
7. Glossary of Terms.................................................. E-11
</TABLE>
1626 East Jefferson Street
Rockville, Maryland 20852-4041
301/998-8100
<PAGE>
FEDERAL REALTY INVESTMENT TRUST
DEBT ANALYSIS (excluding capital leases and interest rate swaps)
June 30, 2000
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Balance
Maturity Rate (in thousands)
--------------
<S> <C> <C> <C>
Mortgages
Leesburg Plaza 10/01/08 6.10% $ 9,900
Federal Plaza 03/10/01 8.95% 26,933
Tysons Station 09/01/01 9.875% 4,029
Escondido (Municipal bonds) 10/01/16 Variable (a) 9,400
--------------
$ 50,262
==============
Notes payable
Revolving credit facilities libor + .65%(b) $ 159,600
Term note with banks libor + .75%(c) 125,000
Construction Loan on Woodmont East
{May be extended to 2/29/04} 02/28/02 libor + 1.5% 8,048
Note issued in connection with
renovation of Perring Plaza 01/31/13 10.00% 2,554
Note issued in connection with land purchase 08/14/00 libor + 1.5% 3,400
Other various various 128
--------------
$ 298,730
==============
Unsecured Public Debt
5 1/4% Convertible subordinated 04/30/02 5.250% $ 289
debentures
5 1/4% Convertible subordinated 10/28/03 5.250% 75,000
debentures
8% Notes (fixed) 04/21/02 8.000% 25,000
6 5/8% Notes (fixed) 12/01/05 6.625% 40,000
7.48% Debentures 08/15/26 7.480% 50,000
6.82% Medium Term Notes 08/01/27 6.820% 40,000
6.74% Medium Term Notes (d) 03/10/04 6.370% 39,500
6.99% Medium Term Notes (d) 03/10/06 6.894% 40,500
8.75% Notes 12/01/09 8.750% 175,000
--------------
$ 485,289
==============
Total fixed rate debt $ 528,833 63.39%
Total variable rate debt 305,448 36.61%
-------------- -------
Total debt $ 834,281 100.00%
============== =======
Weighted average interest rate:
-------------------------------
Fixed rate debt 7.44%
Variable on revolving facilities 6.88% (e)
Variable on muncipal bonds (a)
</TABLE>
(a) The bonds bear interest at a variable rate determined weekly to be the
interest rate which would enable the bonds to be remarketed at
100% of their principal amount.
(b) Effective July 17, 2000 interest rate will increase to libor + .80%
(c) Effective July 17,2000 interest rate will increase to libor + .95%
(d) The Trust purchased interest rate swaps or hedges on these notes, thereby
decreasing the effective interest.
(e) Weighted average interest rate on revolving credit facilities for six months
ended June 30, 2000.
E-2
<PAGE>
Federal Realty Investment Trust
Percentage Leased Analysis
<TABLE>
<CAPTION>
June 30, 2000
---------------------------------------------------------------------------------------------------------------------------------
Overall Operating Occupancy
(Quarter to Quarter Analysis) At June 30, 2000 At June 30, 1999
--------------------------------- -------------------------------------
Type Size Leased Occupancy Size Leased Occupancy
------------------------------------------ ------- --------- ----------- ---------- ---------- -----------
<S> <C> <C> <C> <C> <C> <C>
Retail Properties (leasable square feet) 14,179,590 13,619,718 96% 14,541,750 13,797,209 95%
Rollingwood Apartments (# of units) 282 276 98% 282 280 99%
Overall Operating Occupancy
(Rolling 12 Months) At June 30, 2000 At March 31, 2000
------------------------------------- --------------------------------------
Type Size Leased Occupancy Size Leased Occupancy
------------------------------------------ ---------- ----------- ----------- --------- ---------- -------------
Retail Properties (leasable square feet) 14,179,596 13,619,718 96% 14,171,049 13,506,200 95%
Rollingwood Apartments (# of units) 282 276 98% 282 282 100%
<CAPTION>
Overall Operating Occupancy
(Rolling 12 Months) At December 31, 1999 At September 30, 1999
-------------------------------------- ----------------------------------------
Type Size Leased Occupancy Size Leased Occupancy
------------------------------------------ ---------- ------------ ------------- ----------- ----------- -------------
<S> <C> <C> <C> <C> <C> <C>
Retail Properties (leasable square feet) 14,037,093 13,494,066 96% 14,348,626 13,658,207 95%
Rollingwood Apartments (# of units) 282 278 99% 282 282 100%
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Same Center Occupancy
(Quarter to Quarter Comparison) At June 30, 2000 At June 30, 1999
-------------------------------------- ---------------------------------------
Type Size Leased Occupancy Size Leased Occupancy
------------------------------------------ ----------- ---------- ----------- ---------- ---------- ------------
<S> <C> <C> <C> <C> <C> <C>
Retail Properties (leasable square feet) 14,074,930 13,521,971 96% 13,622,710 12,891,283 95%
Rollingwood Apartments (# of units) 282 276 98% 282 280 99%
Same Center Occupancy
(Rolling 12 Months) At June 30, 2000 At March 31, 2000
-------------------------------------- ----------------------------------------
Type Size Leased Occupancy Size Leased Occupancy
------------------------------------------ ----------- ---------- ----------- ---------- ---------- -------------
Retail Properties (leasable square feet) 14,074,930 13,521,971 96% 14,066,413 13,418,914 95%
Rollingwood Apartments (# of units) 282 276 98% 282 282 100%
<CAPTION>
Same Center Occupancy
(Rolling 12 Months) At December 31, 1999 At September 30, 1999
--------------------------------- ----------------------------------
Type Size Leased Occupancy Size Leased Occupancy
------------------------------------------ ----------- ---------- ----------- ---------- ---------- -------------
<S> <C> <C> <C> <C> <C> <C>
Retail Properties (leasable square feet) 13,865,499 13,345,911 96% 14,304,720 13,613,931 95%
Rollingwood Apartments (# of units) 282 278 98% 282 282 100%
</TABLE>
E-3
<PAGE>
Federal Realty Investment Trust
Regional Occupancy Analysis
June 30, 2000
================================================================================
Total Square Occupancy
Region Footage 06/30/00
Northeast 7,054,592 96%
Mid-Atlantic 5,916,070 96%
West Coast 1,208,934 97%
================================================================================
Total Square Occupancy
Region Footage 06/30/00
------------------------------ -------------------- ---------------
Northeast
Anchor 4,323,084 98%
Small Shops 2,731,508 94%
Mid-Atlantic
Anchor 2,790,240 98%
Small Shops 3,125,830 91%
West
Anchor 274,915 100%
Small Shops 934,019 92%
E-4
<PAGE>
Federal Realty Investment Trust
Retail Leasing Activity
June 30, 2000
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Comparable
Weighted Average Prior Average Current
Number of Square Average Lease Rent Per Rent Per Annualized
Rolling 12 Months Leases Signed Feet Term (Years) Square Foot Square Foot Increase in Rent
---------------------- --------------- ------------- ----------------- ---------------- ---------------- ------------------
<S> <C> <C> <C> <C> <C> <C>
2nd Quarter 2000 67 214,111 5.8 $16.97 $18.85 $ 402,991
1st Quarter 2000 64 297,054 9.1 $16.38 $18.89 $ 746,945
4th Quarter 1999 79 270,278 8.7 $20.14 $24.32 $1,129,625
3rd Quarter 1999 87 324,332 7.3 $16.02 $20.34 $1,401,643
Total 297 1,105,775 7.9 $17.31 $20.64 $3,681,204
<CAPTION>
Comparable Estimated
Percentage Tenant
Increase Improvement
Rolling 12 Months over Prior Rent Costs
----------------------- ------------------ ----------------
<S> <C> <C>
2nd Quarter 2000 11% $ 865,868
1st Quarter 2000 15% $ 5,128,000
4th Quarter 1999 21% $ 2,710,000
3rd Quarter 1999 27% $ 3,799,000
Total 19% $12,502,868
<CAPTION>
Non-Comparable Weighted Estimated
Average Annualized Tenant
Number of Square Lease Average Rent Current Improvement
Rolling 12 Months Leases Signed Feet Term (Years) Per Square Foot Rent Costs
----------------------- --------------- ----------- -------------- ------------------- --------------- -----------------
<S> <C> <C> <C> <C> <C> <C>
2nd Quarter 2000 16 84,287 11.7 $29.37 $2,475,607 $ 248,120
1st Quarter 2000 10 50,126 12.8 $24.07 $1,206,432 $1,025,678
4th Quarter 1999 9 39,545 8.7 $18.13 $ 717,011 $ 389,089
3rd Quarter 1999 12 105,948 10.2 $20.32 $2,153,331 $ 520,563
Total 47 279,906 10.6 $23.41 $6,552,381 $2,183,450
</TABLE>
E-5
<PAGE>
Federal Realty Investment Trust
Street Retail Operating & Development Overview
June 30, 2000
<TABLE>
<CAPTION>
For the year ended December 31, June 30,
(in thousands, except sf data) 1996 1997 1998 1999 2000
------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Real Estate Assets (1) $ 164,931 $ 288,020 $ 365,874 $ 449,182 $ 508,849
Revenues $ 20,555 $ 31,998 $ 42,643 $ 50,288 $ 28,042
Net Operating Income $ 12,538 $ 20,345 $ 28,660 $ 34,774 $ 20,176
Square Feet (2) 1,122,737 1,502,807 1,601,849 1,691,593 1,762,785
</TABLE>
(1) At June 30, 2000, includes $121 million related to new development in
process. The balance is comprised of both stabilized assets and assets which
are in various stages of redevelopment.
(2) Excludes new development square footage
<TABLE>
<CAPTION>
NORTHEAST Square Feet MID-ATLANTIC Square Feet
<S> <C> <C> <C>
Connecticut Virginia
Greenwich Avenue/4 80,791 Pentagon Row N/A (2)
West Hartford/7 125,347 Village at Shirlington 203,359
Westport/2 26,408
WESTERN
Massachusetts Arizona
Coolidge Corner/1 13,101 Mill Avenue/2 39,532
New Jersey California
Central Avenue/1 11,208 Colorado Boulevard/2 69,361
Fifth Avenue/5 66,962
New York Hermosa Beach/1 5,930
Forest Hills/4 90,580 Post Street/1 99,144
Old Town Center 101,000
Santana Row N/A (2)
MID-ATLANTIC Third Street Promenade/8 169,858
District of Columbia Hollywood Blvd./3 198,464
Sam's Park N Shop 49,706 214 Wilshire Blvd 29,040
Illinois
Florida Evanston/2 18,813
Winter Park/2 28,446 Oak Street/1 5,000
Maryland Texas
Bethesda Row 330,735 (2) Houston Street/10 N/A (2)
</TABLE>
E-6
<PAGE>
FEDERAL REALTY INVESTMENT TRUST
Development Pipeline
June 30, 2000
<TABLE>
<CAPTION>
Total
Cost Estimate To Complete Completed
Project Specifications To Date 2000 2001 2002 Cost
-------------------------------------------------------------------------------------------------------------------------------
( $ i n m i l l i o n s )
<S> <C> <C> <C> <C> <C> <C>
COMPLETED DEVELOPMENTS
Bethesda Row - Elm Street 15,000 sf retail $ 8 $ 1 $ 9
======== ======== ========
Bethesda, Maryland 30,000 sf office
-------------------------------------------------------------------------------------------------------------------------------
DEVELOPMENT IN PROGRESS
Bethesda Row - Woodmont East 52,000 sf retail $ 17 $11 $ 4 $ 32
Bethesda, Maryland 78,000 sf office
Pentagon Row 300,000 sf retail (1) $ 19 $41 $ 8 $ 68
Arlington, Virginia 500 apartment units
-------- -------- -------- -------- --------
$ 36 $52 $12 $0 $100
-------------------------------------------------------------------------------------------------------------------------------
FUTURE DEVELOPMENT (3)
Santana Row 680,000 sf retail $ 71
San Jose, California 1,200 residential units
200 hotel rooms (2)
The Shops at Tanasbourne 300,000 sf retail $ 13
Portland, Oregon 12,000 sf office
Lindbergh Center 300,000 sf retail (1) $ 1
Atlanta, Georgia 320 apartments
120 hotel rooms
290 condominiums
1.3 million sf office
--------
$ 85
-------------------------------------------------------------------------------------------------------------------------------
Total New Development and
Construction in Progress $121
========
<CAPTION>
Expected
Stabilized Principal
Project Return Tenants
-------------------------------------------------------------------------------
<S> <C> <C>
COMPLETED DEVELOPMENTS
Bethesda Row - Elm Street 11% Cafe Deluxe
Bethesda, Maryland Vitamin Superstore
Three Dog Bakery
Prudential
Long & Foster
-------------------------------------------------------------------------------
DEVELOPMENT IN PROGRESS
Bethesda Row - Woodmont East 11% Landmark Theatres
Bethesda, Maryland Jaleo Restaurant
OpNet Technologies
Pentagon Row 11% Harris Teeter
Arlington, Virginia Bed, Bath & Beyond
Bally's Fitness
Hudson Trail Outfitters
-------------------------------------------------------------------------------
FUTURE DEVELOPMENT (3)
Santana Row
San Jose, California
The Shops at Tanasbourne
Portland, Oregon
Lindbergh Center
Atlanta, Georgia
-------------------------------------------------------------------------------
</TABLE>
(1) Federal Realty will develop only the retail component of this project.
(2) Federal Realty will not develop the hotel component of this project.
(3) Does not include redevelopment projects, such as Houston Street.
<PAGE>
Tacie Fox
Vice President
Investor Relations &
Capital Markets
301/998-8352
FEDERAL REALTY INVESTMENT TRUST ANNOUNCES
SECOND QUARTER 2000 OPERATING RESULTS
July 26, 2000
Rockville, Maryland
Federal Realty Investment Trust (NYSE:FRT) reported today that funds from
operations for the second quarter of 2000 increased 5.5% to $25.5 million from
$24.2 million in the second quarter of 1999. On a per share diluted basis,
funds from operations rose 6.7% to $.64 in the second quarter of 2000 from $.60
in the comparable quarter of 1999.
Growth from 1999 to 2000 was primarily generated from the core portfolio.
There was minimal impact from acquisitions and re-developments.
. Rental income increased 7.7% to $64.3 million in 2000 from $59.7
million in 1999, primarily due to recent re-developments and re-
tenanting.
. Net operating income increased 7.0% to $47.0 million in 2000 from
$43.9 million in 1999.
. During the second quarter of 2000, the Trust signed leases for a total
298,000 square feet of retail space. On a same space basis, the Trust
re-leased 214,000 square feet of retail space at an average increase
in rent per square foot of 11%. The weighted average rent on these
leases was $18.85 per square foot compared to the previous average
rent of $16.97 per square foot.
. Overall occupancy stood at 96% at June 30, 2000 compared to 95% a year
ago.
E-8
<PAGE>
Funds from operations also improved for the first six months of 2000
increasing 5.7% to $50.6 million from $47.9 million in the first half of 1999.
On a per share diluted basis, funds from operations advanced 6.8% to $1.26 per
share for the first six months of 2000 compared to $1.18 for the comparable
period of 1999.
Commenting on the results, Steven Guttman, president and chief executive
officer stated, "We are pleased with our operating results in the first half of
this year and are on target to meet our 2000 financial goals. While higher
interest costs and asset sales will likely put short-term pressure on funds from
operations growth in 2001, our high quality core portfolio should continue to
generate strong internal growth as the Trust continues to execute its mixed-use
development strategy."
Guttman continued, "On the development front, construction is proceeding
according to both plan and budget for phase IV of our Bethesda Row master
planned development in Bethesda, Maryland and on our Pentagon Row project in
Arlington, Virginia. These developments are targeted to open at the end of this
year and will contribute to earnings beginning in 2001."
Federal Realty is an equity real estate investment trust specializing in
the ownership, management and redevelopment of prime retail properties. The
Trust's real estate portfolio contains 124 properties consisting of community
and neighborhood shopping centers, urban mixed-use main street retail and
apartment properties located in strategic metropolitan markets across the United
States. These markets include Boston, New York, Philadelphia, Washington D.C.,
Chicago, San Antonio, Portland, San Francisco, Los Angeles, San Jose and San
Diego.
Federal Realty has paid quarterly dividends to its shareholders
continuously since its founding in 1962 and has increased its dividend rate for
32 consecutive years. Shares of the Trust are traded on the New York Stock
Exchange under the symbol:FRT.
Certain matters discussed within this press release may be deemed to be
forward looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Although Federal Realty Investment Trust
believes the expectations reflected in such forward looking statements are based
on reasonable assumptions, it can give no assurance that its expectations will
be attained. Factors of a general nature that could cause actual results to
differ materially from Federal's expectations are detailed from time to time in
the company's SEC reports and filings, including its annual report on Form 10k.
Federal assumes no obligation to update or supplement forward-looking statements
that become untrue because of subsequent events.
###
E-9
<PAGE>
FINANCIAL HIGHLIGHTS
(in thousands, except per share data)
(unaudited)
<TABLE>
<CAPTION>
Three Months Ended Six Months Ended
June 30, June 30,
OPERATING RESULTS 2000 1999 2000 1999
----------------- ---- ---- ---- ----
<S> <C> <C> <C> <C>
Revenues
Rental income $ 64,251 $ 59,674 $ 128,483 $ 119,107
Other property income 2,700 2,555 5,465 4,827
Interest and other income 1,855 1,966 3,962 3,844
--------- --------- ---------- ----------
68,806 64,195 137,910 127,778
Expenses
Rental 13,422 12,456 28,042 26,104
Real estate taxes 6,522 5,855 12,979 11,867
Interest 17,036 15,385 33,529 30,518
Administrative 2,868 3,160 5,790 5,414
Depreciation and amortization 13,338 12,651 25,993 24,932
--------- --------- ---------- ----------
53,186 49,507 106,333 98,835
--------- --------- ---------- ----------
Operating income before investors' share of operations 15,620 14,688 31,577 28,943
Investor's share of operations (1,227) (823) (3,045) (1,524)
--------- --------- ---------- ----------
Income before gain (loss) on sale of real estate 14,393 13,865 28,532 27,419
Gain (Loss) on sale of real estate 3,681 (7,050) 3,681 (7,050)
--------- --------- ---------- ----------
Net Income $ 18,074 $ 6,815 $ 32,213 $ 20,369
Dividends on preferred stock (1,987) (1,987) (3,975) (3,975)
--------- --------- ---------- ----------
Net income available for common shareholders $ 16,087 $ 4,828 $ 28,238 $ 16,394
========= ========= ========== ==========
Earnings per common share, basic $ 0.42 $ 0.12 $ 0.73 $ 0.41
========= ========= ========== ==========
Earnings per common share, diluted $ 0.41 $ 0.12 $ 0.72 $ 0.41
========= ========= ========== ==========
Weighted average shares outstanding, basic 38,601 39,543 38,871 39,489
Weighted average shares outstanding, diluted 39,782 40,682 40,037 40,613
Funds from operations
Net income available for common shareholders $ 16,087 $ 4,828 $ 28,238 $ 16,394
Add: (gain) loss on sale of real estate (3,681) $ 7,050 (3,681) $ 7,050
Add: depreciation and amortization of real estate assets 12,136 11,489 23,623 22,617
Add: amortization of initial direct costs of leases 870 742 1,700 1,460
Add: income attributable to operating partnership units 131 97 744 361
--------- --------- ---------- ----------
Funds from operations $ 25,543 $ 24,206 $ 50,624 $ 47,882
========= ========= ========== ==========
Funds from operations per share, diluted $ 0.64 $ 0.60 $ 1.26 $ 1.18
========= ========= ========== ==========
June 30, December 31,
BALANCE SHEET DATA 2000 1999
------------------ ---- ----
Assets
Real estate, at cost $1,761,045 $1,721,459
Accumulated depreciation and amortization (337,603) (317,921)
---------- ----------
1,423,442 1,403,538
Mortgage notes receivable 45,936 53,495
Cash and investments 18,686 11,738
Receivables 18,807 23,130
Other assets 37,612 42,147
---------- ----------
Total assets $1,544,483 $1,534,048
========== ==========
Liabilities and Shareholders' Equity
Obligations under capital leases & mortgages payable $ 172,086 $ 172,573
Notes payable 298,730 162,768
Senior Notes 410,000 510,000
5 1/4% Convertible subordinated debentures 75,289 75,289
Other liabilities 110,001 111,591
Shateholders' Equity 478,377 501,827
---------- ----------
$1,544,483 $1,534,048
========== ==========
</TABLE>
E-10
<PAGE>
Glossary of Terms
Average occupancy costs: Includes rent, common area maintenance expense, real
estate taxes, merchant association dues and other charges
Economic occupancy: The square footage generating rental income expressed as a
percentage of its total rentable square feet.
Leases signed - comparable: Represents leases signed on spaces for which there
was a former tenant.
Leases signed - noncomparable: Represents leases signed on spaces for which
there was no previous tenant, i.e. expansion space or space that was previously
non-leasable.
Leases signed - prior rent: Total rent paid by the previous tenant; includes
minimum and percentage rent.
Net Operating Income: Gross revenues, including interest income, less rental
expenses and real estate taxes.
Occupancy: The currently leased portion of a property expressed as a percentage
of its total rentable square feet; includes square feet covered by leases for
stores not yet opened.
Overall occupancy: Occupancy for the entire portfolio -- includes all operating
properties owned in reporting period.
Same center occupancy: Occupancy for only those properties owned and operating
in the periods being compared. Excludes centers purchased or sold as well as
properties under redevelopment and development.
Tenant improvement costs: Represents the total dollars committed for the
improvement (fit-out) of a space as relates to a specific lease. The amounts
shown represent not only the estimated cost to fit-out the tenant space, but may
also include base building costs (i.e. expansion, escalators or new entrances)
which are required to make the space leasable.
E-11
