Filed Pursuant to Rule 433
Dated July 12, 2006
Registration Statement No. 333-135159
Supplementing Prospectus Supplement Dated July 12, 2006 and
Prospectus dated June 20, 2006
Federal Realty Investment Trust
| 6.00% Notes due 2012 | ||
| Term sheet dated July 12, 2006 | ||
| Size: | $120,000,000 | |
| Coupon (Interest Rate): | 6.00% per year | |
| Yield to Maturity: | 6.02% | |
| Spread to Benchmark Treasury: | 93 basis points | |
| Benchmark Treasury: | 4.375% UST due August 15, 2012 | |
| Benchmark Treasury Yield and Price: | 5.09%; 96-09 1/4 | |
| Interest Payment Dates: | January 15 and July 15 | |
| First Payment Date: | January 15, 2007 | |
| Maturity Date: | July 15, 2012 | |
| Price to Public: | 99.901% of principal amount | |
| Settlement Date: | T+3; July 17, 2006 | |
| Record Dates: | December 31 and June 30 | |
| Aggregate Price to Public: | $119,881,200 | |
| Underwriting Discount | 0.6125% | |
| Net Proceeds to the Company before Expenses: | $119,146,200 | |
| Redemption Provision: | Make-whole call at any time based on U.S. Treasury plus 0.15% (fifteen one-hundredths of one percent) | |
| Dealer Concession: | 0.350% | |
| Reallowance: | 0.250% | |
| CUSIP: | 313747AM9 | |
| Joint Book-Running Managers: | Wachovia Capital Markets, LLC | $ | 48,000,000 | ||
| Citigroup Global Markets, Inc. | $ | 36,000,000 | |||
| Co-Managers: | Bear, Stearns & Co. Inc. | $ | 7,200,000 | ||
| Commerzbank Capital Markets Corp. | $ | 7,200,000 | |||
| Piper Jaffray & Co. | $ | 7,200,000 | |||
| PNC Capital Markets LLC | $ | 7,200,000 | |||
| SunTrust Capital Markets, Inc. | $ | 7,200,000 | |||
| 6.20% Notes due 2017 | |||||
| Term sheet dated July 12, 2006 | |||||
| Size: | $130,000,000 | ||||
| Coupon (Interest Rate): | 6.20% per year | ||||
| Yield to Maturity: | 6.24% | ||||
| Spread to Benchmark Treasury: | 113 basis points | ||||
| Benchmark Treasury: | 5.125% UST due May 15, 2016 | ||||
| Benchmark Treasury Yield and Price: | 5.11%; 100-03+ | ||||
| Interest Payment Dates: | January 15 and July 15 | ||||
| First Payment Date: | January 15, 2007 | ||||
| Maturity Date: | January 15, 2017 | ||||
| Price to Public: | 99.696% of principal amount | ||||
| Settlement Date: | T+3; July 17, 2006 | ||||
| Record Dates: | December 31 and June 30 | ||||
| Aggregate Price to Public: | $129,604,800 | ||||
| Underwriting Discount | 0.650% | ||||
| Net Proceeds to the Company before Expenses: | $128,759,800 | ||||
| Redemption Provision: | Make-whole call at any time based on U.S. Treasury plus 0.20% (twenty one-hundredths of one percent) | ||||
| Dealer Concession: | 0.400% | ||||
| Reallowance: | 0.250% | ||||
| CUSIP: | 313747AN7 | ||||
| Joint Book-Running Managers: | Wachovia Capital Markets, LLC | $ | 52,000,000 | ||
| Citigroup Global Markets, Inc. | $ | 39,000,000 | |||
| Co-Managers: | Bear, Stearns & Co. Inc. | $ | 7,800,000 | ||
| Commerzbank Capital Markets Corp. | $ | 7,800,000 | |||
| Piper Jaffray & Co. | $ | 7,800,000 | |||
| PNC Capital Markets LLC | $ | 7,800,000 | |||
| SunTrust Capital Markets, Inc. | $ | 7,800,000 | |||
| Estimated Expenses of the Company | $300,000 | ||||
| Excluding Underwriting Discount: | |||||
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Wachovia Capital Markets, LLC toll-free at 1-800-326-5897 or Citigroup Global Markets, Inc. toll-free at 1-800-858-5407.
Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers or other notices were automatically generated as a result of this communication being sent via Bloomberg or another email system.