To optimize its portfolio and strengthen its balance sheet, Federal Realty Investment Trust (FRT) has taken a significant step by selling its remaining assets on Third Street Promenade in Santa Monica, CA, for $103 million. The portfolio comprised eight buildings with 185,000 square feet of space. This sale completes the disposition of the portfolio, bringing total proceeds to $120 million, including a prior transaction.Located just a quarter mile from Santa Monica Beach, the Third Street Promenade portfoli ...