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Rockville REIT announces sale of assets

Washington Real Estate Investment Trust, a Rockville-based REIT that owns commercial and multifamily properties in the Washington area, said it has contracted to sell its entire, 17-building medical office building portfolio, as well as two suburban Virginia office buildings and a land parcel, to an unidentified buyer for $500.75 million.

The sale is being structured as four independent transactions, with a projected closing date for two of the deals on Nov. 12, 2013, and the other two closing not later than Jan. 31, 2014.

The properties are located near major medical centers in the District, suburban Maryland and Northern Virginia.

WRIT announced in January it wanted to sell the assets to focus on its office, multifamily and retail properties.