Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
ASSETS
Operating (including $1,827,346 and $1,825,656 of consolidated variable interest entities, respectively)	$ 11,035,704	$ 10,363,961
Construction-in-progress (including $25,395 and $9,939 of consolidated variable interest entities, respectively)	338,990	539,752
Real estate, at cost, total	11,374,694	10,903,713
Less accumulated depreciation and amortization (including $456,303 and $424,044 of consolidated variable interest entities, respectively)	(3,326,160)	(3,152,799)
Net real estate	8,048,534	7,750,914
Cash and cash equivalents	111,311	123,409
Accounts and notes receivable, net	239,887	229,080
Mortgage notes receivable, net	9,105	9,144
Investment in partnerships	32,708	33,458
Operating lease right of use assets, net	83,860	85,806
Finance lease right of use assets, net	6,465	6,630
Prepaid expenses and other assets	330,355	286,316
TOTAL ASSETS	8,862,225	8,524,757
Liabilities
Mortgages payable, net (including $183,493 and $186,643 of consolidated variable interest entities, respectively)	511,318	514,378
Notes payable, net	849,558	601,414
Senior notes and debentures, net	3,362,468	3,357,840
Accounts payable and accrued expenses	224,540	183,564
Dividends payable	99,792	96,743
Security deposits payable	31,275	30,941
Operating lease liabilities	72,960	74,837
Finance lease liabilities	12,872	12,783
Other liabilities and deferred credits	231,613	227,827
Total liabilities	5,396,396	5,100,327
Commitments and contingencies (Note 6)
Redeemable noncontrolling interests	180,684	180,286
Shareholders’ equity
Common shares of beneficial interest, $.01 par, 200,000,000 shares authorized, 86,265,563 and 85,666,220 shares issued and outstanding, respectively	869	862
Additional paid-in capital	4,306,262	4,248,824
Accumulated dividends in excess of net income	(1,254,627)	(1,242,654)
Accumulated other comprehensive income	2,232	4,740
Total shareholders’ equity of the Trust	3,214,558	3,171,594
Noncontrolling interests	70,587	72,550
Total shareholders’ equity	3,285,145	3,244,144
Partner capital
Accumulated other comprehensive income	2,232	4,740
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY / CAPITAL	8,862,225	8,524,757
Federal Realty OP LP
ASSETS
Operating (including $1,827,346 and $1,825,656 of consolidated variable interest entities, respectively)	11,035,704	10,363,961
Construction-in-progress (including $25,395 and $9,939 of consolidated variable interest entities, respectively)	338,990	539,752
Real estate, at cost, total	11,374,694	10,903,713
Less accumulated depreciation and amortization (including $456,303 and $424,044 of consolidated variable interest entities, respectively)	(3,326,160)	(3,152,799)
Net real estate	8,048,534	7,750,914
Cash and cash equivalents	111,311	123,409
Accounts and notes receivable, net	239,887	229,080
Mortgage notes receivable, net	9,105	9,144
Investment in partnerships	32,708	33,458
Operating lease right of use assets, net	83,860	85,806
Finance lease right of use assets, net	6,465	6,630
Prepaid expenses and other assets	330,355	286,316
TOTAL ASSETS	8,862,225	8,524,757
Liabilities
Mortgages payable, net (including $183,493 and $186,643 of consolidated variable interest entities, respectively)	511,318	514,378
Notes payable, net	849,558	601,414
Senior notes and debentures, net	3,362,468	3,357,840
Accounts payable and accrued expenses	224,540	183,564
Dividends payable	99,792	96,743
Security deposits payable	31,275	30,941
Operating lease liabilities	72,960	74,837
Finance lease liabilities	12,872	12,783
Other liabilities and deferred credits	231,613	227,827
Total liabilities	5,396,396	5,100,327
Commitments and contingencies (Note 6)
Redeemable noncontrolling interests	180,684	180,286
Shareholders’ equity
Accumulated other comprehensive income	2,232	4,740
Partner capital
Preferred units, 398,878 units issued and outstanding	154,788	154,788
Common units, 86,265,563 and 85,666,220 units issued and outstanding, respectively	3,057,538	3,012,066
Accumulated other comprehensive income	2,232	4,740
Total partner capital	3,214,558	3,171,594
Noncontrolling interests in consolidated partnerships	70,587	72,550
Total capital	3,285,145	3,244,144
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY / CAPITAL	8,862,225	8,524,757
5.0% Series C Cumulative Redeemable Preferred Shares, (stated at liquidation preference $25,000 per share), 6,000 shares issued and outstanding
Shareholders’ equity
Preferred shares, authorized 15,000,000 shares, $.01 par:	150,000	150,000
5.417% Series 1 Cumulative Convertible Preferred Shares, (stated at liquidation preference $25 per share), 392,878 shares issued and outstanding
Shareholders’ equity
Preferred shares, authorized 15,000,000 shares, $.01 par:	$ 9,822	$ 9,822