Washington REIT sells Maryland portfolio for $240m
Washington REIT has sold six of its suburban Maryland office assets for $240 million to an affiliate of Brookfield Property Partners.
The portfolio totals approximately 1.2 million square feet. In addition, the REIT has a suburban Maryland multifamily asset that it expects to place on the market later this year.
In a separate deal, Washington REIT has acquired Riverside Apartments, a 1,222-unit apartment community in Alexandria, Va., for $244.75 million. The seller was an affiliate of Aimco.
Riverside Apartments consists of three 15-story buildings situated on 28 acres of land.