$800 million retail real estate portfolio could be up for grabs
Washington REIT, whose $2.4 billion in commercial real estate holdings reside exclusively in the Washington D.C. metro, may be looking to get out of the retail business, according to Bloomberg.
While the company has made no formal announcement, the report said Washington REIT had contacted several potential buyers for its retail portfolio, which accounts for about a third of its holdings.
Properties on the block include the 332,000 sq. ft. Centre at Hagerstown in Maryland, the 295,000 sq. ft. Frederick Crossing Shopping Center in Frederick, Md., and the 172,000 sq. ft. Bradlee Shopping Center in Alexandria, Va.
Washington REIT, whose total portfolio tops 6 million sq. ft., has operated in the D.C. market for 50 years.
While the company has made no formal announcement, the report said Washington REIT had contacted several potential buyers for its retail portfolio, which accounts for about a third of its holdings.
Properties on the block include the 332,000 sq. ft. Centre at Hagerstown in Maryland, the 295,000 sq. ft. Frederick Crossing Shopping Center in Frederick, Md., and the 172,000 sq. ft. Bradlee Shopping Center in Alexandria, Va.
Washington REIT, whose total portfolio tops 6 million sq. ft., has operated in the D.C. market for 50 years.