WRIT Acquires $49M Medical Portfolio

ROCKVILLE, MD-Washington Real Estate Investment Trust continues to add to its medical office holdings. The REIT has just acquired Woodholme Medical Office Building and Woodholme Center for $49 million. Baltimore-based Greenebaum & Rose Associates was the seller.

The two buildings total 198,000 net rentable sf and include 844 parking spaces. Located off the Baltimore Beltway in the Pikesville/Owings Mill submarket, the properties are part of the Woodholme Center, a 22-acre, mixed-use development that also has retail, restaurants, and a rehabilitation center.

The five-story Woodholme Medical Office building has a 97% occupancy rate and features 125,000 net rentable sf and 567 parking spaces. Woodholme Center, a four-story class A office building, has 73,000 net rentable sf and 277 parking spaces. It is 95% leased primarily to law and professional service firms.