Saul Centers Inc (NYSE: BFS) is a real estate investment trust (REIT) that owns and operates a portfolio of shopping centers and mixed-use properties. The company generates revenue primarily through base rent and percentage rent collected from retail and commercial tenants under long-term lease agreements. Saul Centers is headquartered in Bethesda, Maryland, and its portfolio is concentrated in the Washington, D.C. and Baltimore metropolitan areas. The 10-K filed 2026-02-27 (accession 000090725426000006) covers the fiscal year ended in that period, but the filing excerpts provided do not include sufficient detail to report specific property counts, tenant names, occupancy rates, segment revenue figures, or capital structure metrics. All business-quality judgments and competitive positioning statements have been omitted given the absence of supporting data in the available excerpts.

Revenue model

Rental income from retail and commercial tenants under long-term leases, including base rent and percentage rent tied to tenant sales, as structured for a REIT.

Products and services

Shopping center and mixed-use property ownership and leasing.

Customers and end markets

Retail and commercial tenants operating in shopping centers and mixed-use properties in the Washington, D.C. and Baltimore metropolitan areas.

Value-chain role

Property owner and landlord; acquires, develops, and manages retail and mixed-use real estate assets.

Geographic exposure

Washington, D.C. and Baltimore metropolitan areas, based on company headquarters in Bethesda, Maryland.

Source: SEC 10-K, filed 2026-02-27

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