Categorized | Commercial

Shopping Mall Purchased by Washington Real Estate Investment Trust

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The Washington Real Estate Investment Trust has made another strong, high-end commercial real estate purchase to bolster its portfolio. The REIT recently bought the Olney Village Center, a Maryland shopping center for over fifty eight million dollars.

The shopping center was renovated in 2003, and has leased nearly all of its allotted space. With an affluent customer base, and a very strategic location, the Olney Village Center has been considered to be an excellent buy for the Washington Real Estate Investment Trust. In fact, it is slated to return a very strong yield for Washington Real Estate in the first year alone. The shopping center includes Shoppers Food Warehouse, T.J. Maxx, HomeGoods, and SunTrust Bank.

Washington Real Estate currently owns eighty-seven properties, which include twenty-six office properties, eighteen medical office properties, sixteen retail centers, sixteen industrial properties, and eleven multifamily properties. The Real Estate Investment Trust focuses most of its investments in properties that are known to produce income. While such a focus does not really make it possible to find a real bargain, it does prevent any kind of major losses due to lack of profit.

Washington Real Estate Investment Trust is the oldest publicly traded REIT in the nation, as it was established in 1960. It is based in the Washington DC area, and holds a number of properties in the Capital Beltway region. The Capital Beltway region includes the main business district and various wealthy suburbs of Washington DC.  They have consistently provided great value and investments for their shareholders, with strong returns on initial investments.

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About Drew Wilson

Drew focuses on the Commercial and Mortgage/Finance categories.

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