Developer buys 3 Boston retail centers

Bloomberg News

Federal Realty Investment Trust, a U.S. developer and manager of shopping centers, said it bought three properties in metropolitan Boston from a private developer for about $150 million.

Federal Realty acquired Linden Square in Wellesley, Mass., Chelsea Commons in Chelsea, and North Dartmouth Shopping Center in North Dartmouth, the Rockville, Md.-based company said in a statement distributed by PR Newswire. The trust's Boston portfolio now has more than 2 million square feet of retail space, including properties owned through Federal Realty's joint venture with Clarion Lion Properties Fund.

Federal Realty shares rose 83 cents to $73.28 in New York Stock Exchange composite trading.

http://www.mercurynews.com/mld/mercurynews/business/15387257.htm 

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