In the News
May 20, 2008
Washington Real Estate Investment Trust
Washington Real Estate Investment Trust (WRIT) (NYSE:WRE) announced today that an underwritten public offering of 2,600,000 common shares of beneficial interest under its shelf registration statement filed with the Securities and Exchange Commission was priced at $34.80 per share and is expected to close on May 23, 2008. WRIT has granted the underwriters a 30-day option to purchase an additional 390,000 common shares.
The net proceeds of the offering will be used for the repayment of debt, which was incurred principally to fund property acquisitions.
Raymond James & Associates, Inc. and J.P. Morgan Securities Inc. are joint book-running managers. Robert W. Baird & Co. Incorporated, Credit Suisse Securities (USA) LLC, Wachovia Capital Markets, LLC and RBC Capital Markets Corporation are the other underwriters for the offering.
When available, copies of the prospectus and prospectus supplement may be obtained from Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, or by calling toll-free at (800) 248-8863 or from J.P. Morgan Securities Inc., National Statement Processing, Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, or by calling (718) 242-8002.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. The offering may be made only by means of a prospectus and related prospectus supplement.
WRIT is a self-administered, self-managed, equity real estate investment trust investing in income-producing properties in the greater Washington metro region. WRIT owns a diversified portfolio of 91 properties consisting of 14 retail centers, 26 office properties, 16 medical office properties, 24 industrial/flex properties, 11 multifamily properties and land for development. WRIT shares are publicly traded on the New York Stock Exchange (NYSE:WRE).
