Washington REIT To Get $501M For Medical Offices

Law360, New York (September 30, 2013, 3:34 PM EDT) -- Washington Real Estate Investment Trust is selling its entire medical office portfolio to Chicago-based Harrison Street Real Estate Capital, LLC for nearly $501 million in an effort to focus on growing its office, retail and multifamily housing portfolios, the trust announced Monday.

The portfolio, which consists of 17 medical office assets, two suburban office buildings in Washington, D.C., and one land parcel in Virginia, comprises approximately 1.5 million square feet and represents the largest portfolio of institutional quality medical office assets in the Washington region....
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