WASHINGTON DC – WashREIT has entered into a definitive agreement to sell the majority of its office portfolio to a Brookfield Asset Management private real estate fund for $766 million.
The sale represents part of WashREIT's multi-year strategic transformation into a multifamily REIT. WashREIT has additionally signed a letter of intent to sell its remaining eight retail assets.
The 12-property office portfolio totals 2.4 million square feet in the Washington DC metropolitan area. The portfolio is 83% occupied.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
