Exhibit 99.2

Fourth Quarter 2008

Supplemental Operating and Financial Data

for the Quarter Ended December 31, 2008

Company Background and Highlights

Fourth Quarter 2008

Washington Real Estate Investment Trust (the “Company”) is a self-administered, self-managed, equity real estate investment trust investing in income-producing properties in the greater Washington metro region. WRIT is diversified, as it invests in office, industrial/flex, medical office, retail, and multifamily properties and land for development.

During 2008, WRIT acquired $257 million of assets, disposed of $41 million of assets and executed 1.5 million square feet of lease transactions. WRIT further strengthened its balance sheet by raising over $190 million of equity capital. WRIT also increased the availability under its syndicated credit facility and repurchased convertible notes. Also, WRIT announced its 188th consecutive quarterly dividend per share at equal or increasing rates.

In 2008, WRIT acquired one office property for $181.4 million, one multifamily property for $58.3 million, one industrial/flex property for $11.2 million and one medical office property for $6.5 million. The acquisitions added approximately 290,000 square feet to the office portfolio, 374 units to the multifamily portfolio, 150,000 square feet to the industrial/flex portfolio and 36,000 square feet to the medical office portfolio. WRIT disposed of two industrial/flex properties for $41.1 million, achieving a net book gain of $15.3 million on the sale.

In the fourth quarter, WRIT acquired 2445 M Street, NW, a 290,000 square foot Class A office building with a two-level parking garage in Washington, D.C. for $181.4 million. 2445 M Street is located in the established West End neighborhood, on the northeast corner of 25th and M Streets, strategically positioned between Georgetown and the Central Business District. The property is 100% occupied by two high-quality tenants under long-term leases. The Advisory Board Company occupies 180,000 square feet and Patton Boggs LLP occupies 110,000 square feet. WRIT assumed a $101.9 million loan with a fixed interest rate of 5.619% per annum and eight years remaining on its term. The investment is expected to achieve a first-year, leveraged yield of 6.7% on a cash basis and 7.2% on a GAAP basis.

During the year, WRIT made great progress in leasing several ground-up development projects. In September, WRIT announced the execution of two office leases totaling 154,000 square feet at Dulles Station, a 180,000 square foot development project of Class A office and retail space located in Herndon, VA. The property is currently 86% leased, as IBM (NYSE: IBM) will occupy 123,000 square feet and National Student Clearinghouse will occupy 31,000 square feet.

Bennett Park is a ground-up development project in Arlington, VA consisting of high-rise and mid-rise Class A apartment buildings with a total of 224 units and 5,900 square feet of retail space. The apartments were 78% leased at year-end.

At the beginning of the year, WRIT began delivering units at The Clayborne Apartments in Alexandria, VA. The development project is adjacent to our 800 South Washington retail property, and consists of a 74-unit Class A apartment building with 2,600 square feet of additional retail space. The apartments were 64% leased at year-end.

In 2008, WRIT executed 1.5 million square feet of commercial lease transactions with an average term of five years. The average rental rate increase on new and renewal leases was 19.4% on a GAAP basis and 7.7% on a cash basis. Tenant improvements averaged $8.44 per square foot for the year. WRIT focuses on tenant diversification and as of year-end 2008 there are no tenants that account for more than 5% of WRIT’s annual rental revenue.

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In 2008, WRIT raised over $190 million of equity, increased short-term borrowing capacity, refinanced short-term debt, and repurchased convertible notes. In January, WRIT exercised a portion of the accordion feature on one of its unsecured revolving credit facilities, increasing its total short-term borrowing capacity to $337 million at a rate of LIBOR plus 0.425%. In February, WRIT completed an extinguishment of debt on $60 million of 10-year Mandatory Par Put Remarketed Securites (“MOPPRS”), resulting in an $8.4 million non-recurring charge. WRIT refinanced the 6.74% debt with a $100 million 2-year term loan, which was swapped for a fixed rate of 4.45%. The remaining proceeds were used to pay down outstandings under its credit facilities.

In the second quarter, WRIT issued $90.5 million of equity at $34.80 per share and refinanced $81 million of short-term debt by entering into three mortgage loans at a rate of 5.71% and an 8-year maturity. In the third quarter, WRIT entered into a Sales Agency Financing Agreement (“SAFE”) with BNY Mellon Capital Markets, LLC. Under the agreement, WRIT may offer and sell up to $150 million of common shares for a period of no more than 36 months. In September, WRIT issued an aggregate of 1,141,410 shares at $36.15 per share for $41.2 million in gross proceeds through the agreement. In October, WRIT completed a $60.4 million offering of 1.725 million common shares at $35.00 per share. WRIT used the net proceeds from each offering to repay borrowings under its lines of credit and for general corporate purposes. In December, WRIT repurchased $16 million of its $260 million senior convertible notes. WRIT repurchased the notes at a discount price of 75% of par for $12 million. In conjunction with the repurchase, WRIT reported a gain of approximately $3.5 million.

As of December 31, 2008, WRIT owned a diversified portfolio of 93 properties consisting of 28 office properties, 22 industrial/flex properties, 17 medical office properties, 14 retail centers, 12 multifamily properties and land for development. WRIT’s dividends have increased every year for 38 consecutive years. WRIT shares are publicly traded on the New York Stock Exchange (NYSE:WRE).

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Net Operating Income Contribution by Sector - Fourth Quarter 2008

With investments in the multifamily, retail, industrial/flex, office and medical office segments, WRIT is uniquely diversified. This balanced portfolio provides stability during market fluctuations in specific property types.

Fourth Quarter 2008 Acquisitions

2445 M Street, NW

Washington, DC

Certain statements in the supplemental disclosures which follow 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, the effect of the current credit and financial market conditions, the availability and cost of capital, fluctuations in interest rates, tenants’ financial conditions, the timing and pricing of lease transactions, levels of competition, the effect of government regulation, the impact of newly adopted accounting principles, changes in general and local economic and real estate market conditions, and other risks and uncertainties detailed from time to time in our filings with the SEC, including our 2007 Form 10-K and our third-quarter 2008 10-Q. We assume no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

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		Supplemental Financial and Operating Data
		Table of Contents
		December 31, 2008

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Consolidated Statements of Operations

(In thousands, except per share data)

(unaudited)

Note: Certain prior quarter amounts have been reclassified to conform to the current quarter presentation.

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Consolidated Balance Sheets

(In thousands)

(unaudited)

Note: Certain prior quarter amounts have been reclassified to conform to the current quarter presentation.

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Funds From Operations and Funds Available for Distribution

(In thousands, except per share data)

(unaudited)

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Earnings Before Interest Taxes Depreciation and Amortization (EBITDA)

(In thousands)

(unaudited)

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Long-Term Debt Analysis

(In thousands, except per share amounts)

Note: The current balances outstanding of the secured and unsecured fixed rate bonds and notes are shown net of discounts/premiums in the amount of $8,104,825 and $1,099,869, respectively.

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Long-Term Debt Analysis

(In thousands, except per share amounts)

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