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WRE > SEC Filings for WRE > Form 8-K on 7-May-2014All Recent SEC Filings

Show all filings for WASHINGTON REAL ESTATE INVESTMENT TRUST

Form 8-K for WASHINGTON REAL ESTATE INVESTMENT TRUST


7-May-2014

Completion of Acquisition or Disposition of Assets, Finan


Item 2.01 Completion of Acquisition or Disposition of Assets.

On May 1, 2014, Washington Real Estate Investment Trust ("Washington REIT") acquired 1775 Eye Street, NW for $104.5 million pursuant to the terms of a purchase agreement, dated April 1, 2014, between a wholly-owned subsidiary of Washington REIT and L&B 1775 Eye Street, LLC. Washington REIT funded the acquisition with cash proceeds from the recent sales transactions of its medical office building portfolio. 1775 Eye Street, NW, a 185,000 square foot office building in Washington, DC, was originally built in 1964 and renovated in 1997. The building is currently 62% leased.

During the period from January 1, 2014 to May 1, 2014, Washington REIT purchased three real estate properties, as follows:

                                                                                      Contract
                                                                   Rentable        Purchase Price
Acquisition Date           Property Name              Type        Square Feet      (in millions)
February 21, 2014   Yale West (216 units)         Multifamily         N/A        $           73.0
March 26, 2014      The Army Navy Club Building      Office          108,000                 79.0
May 1, 2014         1775 Eye Street, NW              Office          185,000                104.5
                                                                     293,000     $          256.5

Individually, the above acquisitions are insignificant as defined in Regulation S-X, but in the aggregate, constitute a "significant amount of assets" as defined in Regulation S-X. When acquisitions are individually insignificant but significant in the aggregate, Regulation S-X requires the presentation of audited financial statements for assets comprising a substantial majority of the individually insignificant properties. The purchases of 1775 Eye Street and Yale West constitute a "substantial majority" of the assets acquired by Washington REIT from January 1, 2014 through the period ended May 1, 2014 as defined in the Regulation.



Item 9.01. Financial Statements and Exhibits.

(a) Financial Statements of Business Acquired

The required financial statements will be filed by amendment to this Current Report on Form 8-K within 71 calendar days after the date this Current Report on Form 8-K is required to be filed.

(b) Pro Forma Financial Information.

The required pro forma financial information will be filed by amendment to this Current Report on Form 8-K within 71 calendar days after the date this Current Report on Form 8-K is required to be filed.

(d) Exhibits

The following exhibits are furnished with this report on Form 8-K:

Exhibit Number      Description

99.1                Press release issued May 1, 2014 regarding the acquisition of
                    1775 Eye Street, NW


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