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Washington REIT sells Md. power center assets for $77M

Washington Real Estate Investment Trust closed the sales of its three power center assets encompassing approximately 850,000 square feet in Maryland for total gross proceeds of approximately $77 million.

The diversified REIT said the assets are Centre at Hagerstown, Frederick Crossing and Frederick County Square.

The company also noted that it completed its purchase of a multifamily portfolio, totaling 2,113 units across seven assets for about $461 million, among other transactions.