United States, Oct. 21 -- JLL Capital Markets announced that it has advised on the sale of Miller Capital/CalPERS' ownership interest in The Summit Birmingham, a 972,640-square-foot lifestyle center in Birmingham, Alabama. Federal Realty Investment Trust recently acquired the entire asset for approximately $508 million.Originally developed in 1997 and expanded through multiple phases, The Summit Birmingham is Alabama's premier lifestyle center and one of the state's most established retail destinations. The property spans more than 32 acres and features a highly curated mix of apparel, home furnishings, beauty, food-and-beverage, entertainment, jewelry and specialty retail tenants. At the time of sale, the center was 94.9% occupied and incl...