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Washington REIT sells 8 retail properties for $562M

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Washington REIT sells 8 retail properties for $562M

Washington Real Estate Investment Trust said in its third-quarter earnings release that it completed the sales of eight retail assets in Maryland and Virginia for $562 million.

The REIT realized net gains of approximately $339 million from the sale of the properties, which encompass approximately 1,652,000 square feet.

The Maryland properties include Gateway Overlook in Columbia; Wheaton Park in Wheaton; Olney Village Center in Olney; Frederick Crossing and Frederick County Square in Frederick; and Centre at Hagerstown in Hagerstown.

The Virginia properties include Bradlee Shopping Center and Shoppes at Foxchase in Alexandria.