Washington Real Estate Investment Trust Prices Public Offering of 1.6 Million Common Shares
ROCKVILLE, Md.--(BUSINESS WIRE)--
Washington Real Estate Investment Trust (WRIT) (NYSE:WRE) announced today that an underwritten public offering of 1,600,000 common shares of beneficial interest under its shelf registration statement filed with the Securities and Exchange Commission was priced at $37.00 per share and is expected to close on June 6, 2007. WRIT has granted the underwriter a 30-day option to purchase an additional 240,000 common shares.
The net proceeds of the offering will be used for the repayment of debt.
Robert W. Baird & Co. acted as sole book running manager for the offering. Copies of the final prospectus supplement and accompanying base prospectus related to this offering may be obtained from Robert W. Baird & Co., 777 E. Wisconsin Ave., Milwaukee, WI 53202.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. The offering may be made only by means of a prospectus and related prospectus supplement.
WRIT is a self-administered, self-managed, equity real estate investment trust investing in income-producing properties in the greater Washington/Baltimore metropolitan region. WRIT owns a diversified portfolio of 85 properties consisting of 14 retail centers, 25 general purpose office properties, 14 medical office properties, 23 industrial/flex properties, 9 multi-family properties and land for development. WRIT shares are publicly traded on the New York Stock Exchange (NYSE:WRE).
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. Such risks, uncertainties and other factors include, but are not limited to, fluctuations in interest rates, availability of raw materials and labor costs, levels of competition, the effect of government regulation, the availability of capital, weather conditions, the timing and pricing of lease transactions, and changes in general and local economic and real estate market conditions.
Source: Washington Real Estate Investment Trust (WRIT)
Released June 1, 2007