WRIT buys iconic D.C. office building

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Washington Real Estate Investment Trust, of Rockville, a real estate investment trust that owns commercial and multifamily properties in the Washington area, announced it paid $79 million to purchase The Army Navy Club Building, a 108,000-square-foot, iconic office building at 901 17th St. N.W., in Washington.

Originally constructed in 1912, the 12-story building with a three-level parking garage is 100 percent leased.

WRIT assumed a $52.6 million, 3.45 percent mortgage maturing on May 1, 2017 with optional prepayment ability beginning May 1, 2014.

The balance of the purchase price was funded with available proceeds from the recent sale of WRIT’s medical office portfolio.

Tags: Baltimore, maryland, writ, real estate investment trust

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