HISTORY AT A GLANCE

History At A Glance History At A Glance shadow
  • November 1983—Formation of First Washington.
  • June 1994—Formation of First Washington Realty Trust, Inc., a real estate investment trust with 20 shopping centers and a total capitalization of approximately $200M.
  • August 1996—First Washington Realty Trust, Inc. commences trading on the New York Stock Exchange. Traded as FRW.
  • December 1999—First Washington Realty Trust, Inc.‘s portfolio grows to over 60 shopping centers with an asset value of approximately $650M.
  • February 2001—CalPERS, the nation’s largest public pension fund, completes the purchase of First Washington Realty Trust Inc.’s shopping center assets for over $820M.
  • February 2001—First Washington Realty, Inc. takes on the management of CalPERS’ Eastern United States shopping center portfolio, composed of the 63 shopping center assets.
  • October 2003—First Washington Realty, Inc. forms joint venture with CalPERS in the ownership of a portfolio of 100 shopping centers nationwide.
  • June 2005—First Washington Realty, Inc. and CalPERS sell its nationwide portfolio of over 100 shopping centers for a sale price of approximately $2.7 billion.
  • June 2005—First Washington Realty, Inc. enters into its second joint venture with CalPERS, called Global Retail Investors, LLC, to again participate in the acquisition, development, joint venturing and financing of neighborhood and community shopping centers and related retail properties throughout the United States.
  • June 2008—First Washington Realty, Inc. purchases a majority interest in eight grocery-anchored shopping centers on the East Coast.
  • June 2009—First Washington Realty, Inc. purchases a majority interest in 86 shopping center properties with a gross valuation of $1.73 billion from Macquarie CountryWide Trust of Australia. The portfolio consists of substantially the same shopping centers that First Washington/CalPERS sold for $2.7 billion in 2005.
  • 2014—First Washington Realty, Inc.’s portfolio contains 95 shopping center properties with a total gross valuation of $3.5 billion and approximately 12 million square feet, in 21 states and the District of Columbia.
  • 2015First Washington Realty, Inc.’s portfolio contains 98 shopping center properties with a total gross valuation of $3.8 billion and approximately 13 million square feet, in 23 states and the District of Columbia.
  • 2016—First Washington Realty, Inc.’s portfolio contains 92 shopping center properties with a total gross valuation of $4.3 billion and approximately 12.5 million square feet, in 22 states and the District of Columbia.