WRIT Closes Completes Portfolio Sale with $71M Deal

WASHINGTON, DC-Washington Real Estate Investment Trust is wrapping up the last of the sale of a 2 million-square foot industrial portfolio, which also included two office buildings. The REIT has closed the final sale of the multi-stage transaction, with the trade of Dulles Business Park and 6100 Columbia Park Road for $70.6 million.

The $70.6 million includes a $0.9 million reimbursement of a prepayment penalty associated wittwo mortgage notes on Dulles Business Park. All together, WRIT has completed three transactions associated with this portfolio, beginning with the September 2011 transaction of $235.8 million. The aggregate sales proceeds for the entire industrial portfolio are $350 million. A joint venture between AREA Property Partners and the Adler Group are the buyers.