REIT Expands Portfolio With $91M DC Office Building Buy

Law360, New York (March 23, 2012, 7:10 PM EDT) -- Atlanta-based real estate investment trust Wells Core Office Income REIT has purchased a 10-story office building in Herdon, Va., for $91.1 million from Brandywine Realty Trust, expanding its Class A office portfolio in the Washington area, Wells announced Friday.

The 268,240-square-foot building, known as South Lake at Dulles Corner, sold for about $340 per square foot, according to Brandywine, which said it planned to use the proceeds for general corporate purposes, including future investment opportunities. 

The sale is in line with Brandywine's strategy of building and...
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