Exhibit 99.2

Exhibit 99.2

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Third Quarter 2011

Supplemental Operating and Financial Data

for the Quarter Ended September 30, 2011


Contact:		6110 Executive Boulevard
William T. Camp		Suite 800
Executive Vice President and		Rockville, MD 20852
Chief Financial Officer		(301) 984-9400
E-mail: bcamp@writ.com		(301) 984-9610 fax

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Washington Real Estate Investment Trust (“WRIT”) 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, medical office, retail, and multifamily properties and land for development.

In the third quarter of 2011, WRIT acquired three assets totaling 767,000 square feet and $233 million: Olney Village Center, Braddock Metro Center and John Marshall II.

WRIT acquired Olney Village Center, a 199,000 square foot grocery-anchored shopping center in Olney, Maryland for $58.0 million. The property is anchored by Shoppers Food Warehouse and is 98.7% leased to 32 tenants, including national retailers T.J. Maxx, HomeGoods, and SunTrust Bank. The center was built in 1979 and underwent a major renovation in 2003. WRIT assumed a $22.6 million mortgage bearing interest at 6.37% per annum and maturing in 2023 and funded the remaining balance of $35.4 million using available cash and its line of credit. WRIT expects to achieve a first year unleveraged yield of 6.7% on a cash basis.

WRIT acquired Braddock Metro Center, a 345,000 square foot office campus on the Metro in Alexandria, Virginia, for $101 million. The campus consists of four office buildings and a two-level underground parking garage and is located in the northwest quadrant of Old Town Alexandria, immediately adjacent to the Braddock Road Metro Station (Yellow and Blue lines), one stop from Reagan National Airport. The properties were built in 1985 and are 92% leased to 13 office tenants including associations and government contractors. WRIT funded the acquisition with cash proceeds from its recent sale transactions of the industrial portfolio. WRIT expects to achieve a first year unleveraged yield of 6.9% on a cash basis.

WRIT acquired John Marshall II, a nine story, 223,000 square foot office building situated at the Tysons Central 7 Metro Station in Tysons Corner, Virginia, for $73.5 million. The property is 100% leased to Booz Allen Hamilton Inc. through January 2016 and serves as its worldwide headquarters. It was built in 1996 and renovated in 2010 and is located at 8283 Greensboro Drive. The Tysons Central 7 Metro Station is one of four metro stations currently under construction that will serve Tysons Corner upon the Dulles Corridor Metrorail’s anticipated completion in 2013. WRIT assumed a $54.1 million mortgage bearing interest at 5.79% per annum and maturing in 2016. WRIT funded the remaining balance of $19.4 million using proceeds from the recent sales of its industrial assets and its line of credit and expects to achieve a first year unleveraged yield of 6.7% on a cash basis.

In the third quarter as well as subsequent to quarter end, WRIT completed four separate sale transactions involving an aggregate of approximately 2.6 million square feet of its industrial portfolio along with two office assets. The aggregate sales proceeds for the four transactions were $280.3 million. The first sale transaction included 8880 Gorman Road, Alban Business Center, Dulles South IV, Fullerton Business Center, and Hampton Overlook. The second transaction included Northern Virginia Industrial Park I and Pickett Industrial Park. The third transaction included 270 Technology Park, 8900 Telegraph Road, 9950 Business Parkway, Albemarle Point, Fullerton Industrial Center, Hampton South, and Sully Square, as well as the Albemarle Point and Crescent office buildings. The fourth transaction included Northern Virginia Industrial Park II. The buyers are affiliates of a joint venture between AREA Property Partners (AREA) and the Adler Group (Adler).

WRIT’s remaining two industrial properties, 6100 Columbia Park Road and Dulles Business Park, are under one additional sale contract with AREA/Adler which is projected to close on or about November 1, 2011 for approximately $69.7 million. The aggregate sales proceeds for the entire industrial portfolio are $350 million.

WRIT signed commercial leases for 242,000 square feet with an average lease term of 4.7 years. The average rental rate increase on new and renewal leases was 11.7% on a GAAP basis and 2.6% on a cash basis. Commercial tenant improvement costs were $14.90 per square foot and leasing costs were $9.54 per square foot for the quarter.

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As of September 30, 2011, WRIT owned a diversified portfolio of 74 properties totaling approximately 10 million square feet of commercial space and 2,540 residential units, and land held for development. These 74 properties consist of 26 office properties, 3 industrial/flex properties, 18 medical office properties, 16 retail centers and 11 multifamily properties. WRIT shares are publicly traded on the New York Stock Exchange (NYSE:WRE).

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

Net Operating Income Contribution by Sector

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*	Excludes discontinued operations:

Held for sale and sold properties: Industrial Portfolio; The Crescent and Albemarle office buildings

Certain statements in our earnings release and on our conference call 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 potential for federal government budget reductions, changes in general and local economic and real estate market conditions, the timing and pricing of lease transactions, the effect of the current credit and financial market conditions, the availability and cost of capital, fluctuations in interest rates, tenants’ financial conditions, levels of competition, the effect of government regulation, the impact of newly adopted accounting principles, and other risks and uncertainties detailed from time to time in our filings with the SEC, including our 2010 Form 10-K and third quarter 2011 Form 10-Q. We assume no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

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Schedule	Page

Key Financial Data
Consolidated Statements of Operations		4
Consolidated Balance Sheets		5
Funds From Operations and Funds Available for Distribution		6
Adjusted Earnings Before Interest Taxes Depreciation and Amortization (EBITDA)		7

Capital Analysis
Long-Term Debt Analysis		8-9
Debt Covenant Compliance		10
Capital Analysis		11

Portfolio Analysis
Same-Store Portfolio Net Operating Income (NOI) Growth & Rental Rate Growth		12
Same-Store Portfolio Net Operating Income (NOI) Summary		13
Same-Store Portfolio Net Operating Income (NOI) Detail for the Quarter		14-15
Net Operating Income (NOI) by Region		16
Same-Store Portfolio & Overall Physical Occupancy Levels by Sector		17
Same-Store Portfolio & Overall Economic Occupancy Levels by Sector		18
Tenant Analysis
Commercial Leasing Summary		19-20
10 Largest Tenants - Based on Annualized Base Rent		21
Industry Diversification		22
Lease expirations as of September 30, 2011		23

Growth and Strategy
2011 Acquisition and Disposition Summary		24

Appendix
Schedule of Properties		25-26
Supplemental Definitions		27

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	Three Months Ended
	9/30/2011			6/30/2011			3/31/2011			12/31/2010			9/30/2010
OPERATING RESULTS

Real estate rental revenue	$	71,931		$	71,684		$	69,204		$	65,364		$	65,032
Real estate expenses		(24,070	)		(23,801	)		(23,253	)		(21,033	)		(21,912	)

		47,861			47,883			45,951			44,331			43,120

Real estate depreciation and amortization		(23,479	)		(22,526	)		(21,894	)		(20,492	)		(20,224	)

Income from real estate		24,382			25,357			24,057			23,839			22,896

Other income		270			310			306			318			289
Acquisition costs		(1,600	)		(322	)		(1,649	)		(709	)		—
Gain from non-disposal activities		—			—			—			3			4
Gain (loss) on extinguishment of debt		—			—			—			(8,896	)		(238	)
Interest expense		(16,508	)		(16,865	)		(16,893	)		(17,567	)		(16,717	)
General and administrative		(3,837	)		(4,049	)		(3,702	)		(3,951	)		(3,141	)

Income (loss) from continuing operations		2,707			4,431			2,119			(6,963	)		3,093
Discontinued operations:
Income (loss) from operations of properties sold or held for sale		3,655			3,298			2,569			3,921			3,565
Income tax benefit (expense)		35			(1,173	)		—			—			—
Gain on sale of real estate		56,639			—			—			13,657			—

Income from discontinued operations		60,329			2,125			2,569			17,578			3,565

Net income		63,036			6,556			4,688			10,615			6,658
Less: Net income from noncontrolling interests		(28	)		(34	)		(23	)		(24	)		(33	)

Net income attributable to the controlling interests	$	63,008		$	6,522		$	4,665		$	10,591		$	6,625


Per Share Data
Net income attributable to the controlling interests	$	0.95		$	0.10		$	0.07		$	0.16		$	0.10

Fully diluted weighted average shares outstanding		66,064			65,989			65,907			64,536			63,055

Percentage of Revenues:
Real estate expenses		33.5	%		33.2	%		33.6	%		32.2	%		33.7	%
General and administrative		5.3	%		5.6	%		5.3	%		6.0	%		4.8	%

Ratios:
Adjusted EBITDA / Interest expense		2.9x			3.0x			2.8x			2.7x			2.8x
Income from continuing operations attributable to the controlling interest/Total real estate revenue		3.8	%		6.2	%		3.1	%		(10.7	)%		4.8	%
Net income attributable to the controlling interest/Total real estate revenue		87.6	%		9.1	%		6.7	%		16.2	%		10.2	%

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

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	9/30/2011			6/30/2011			3/31/2011			12/31/2010			9/30/2010
Assets
Land	$	472,812		$	424,647		$	424,647		$	381,338		$	352,522
Income producing property		1,924,526			1,754,493			1,744,993			1,670,598			1,608,413

		2,397,338			2,179,140			2,169,640			2,051,936			1,960,935
Accumulated depreciation and amortization		(516,319	)		(497,738	)		(479,090	)		(460,678	)		(443,077	)

Net income producing property		1,881,019			1,681,402			1,690,550			1,591,258			1,517,858
Development in progress, including land held for development		39,735			39,413			26,263			26,240			26,103

Total real estate held for investment, net		1,920,754			1,720,815			1,716,813			1,617,498			1,543,961

Investment in real estate held for sale, net		69,990			240,437			284,052			286,842			322,227
Cash and cash equivalents		40,751			42,886			12,480			78,767			262,413
Restricted cash		23,267			22,311			23,083			20,486			18,767
Rents and other receivables, net of allowance for doubtful accounts		52,396			48,472			46,864			44,280			43,814
Prepaid expenses and other assets		125,689			99,356			104,093			92,040			88,020
Other assets related to properties sold or held for sale		3,505			12,899			28,827			27,968			31,777

Total assets	$	2,236,352		$	2,187,176		$	2,216,212		$	2,167,881		$	2,310,979


Liabilities and Equity
Notes payable	$	657,378		$	659,934		$	753,692		$	753,587		$	930,201
Mortgage notes payable		428,909			360,493			361,189			361,860			362,632
Lines of credit/short-term note payable		193,000			245,000			160,000			100,000			100,000
Accounts payable and other liabilities		55,879			54,101			57,040			49,138			51,280
Advance rents		13,393			12,372			11,549			11,099			9,478
Tenant security deposits		8,751			8,027			8,024			7,390			7,376

Other liabilities related to properties sold or held for sale		19,229			24,528			24,902			23,949			25,152

Total Liabilities		1,376,539			1,364,455			1,376,396			1,307,023			1,486,119


Equity
Shares of beneficial interest, $0.01 par value; 100,000 shares authorized		661			661			660			659			642
Additional paid-in capital		1,136,240			1,133,823			1,130,297			1,127,825			1,074,308
Distributions in excess of net income		(281,930	)		(316,134	)		(293,860	)		(269,935	)		(251,964	)
Accumulated other comprehensive income (loss)		(160	)		(636	)		(1,057	)		(1,469	)		(1,906	)

Total shareholders’ equity		854,811			817,714			836,040			857,080			821,080
Noncontrolling interests in subsidiaries		5,002			5,007			3,776			3,778			3,780

Total equity		859,813			822,721			839,816			860,858			824,860


Total liabilities and equity	$	2,236,352		$	2,187,176		$	2,216,212		$	2,167,881		$	2,310,979


Total Debt / Total Market Capitalization		0.41:1			0.37:1			0.39:1			0.38:1			0.41:1

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

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	Three Months Ended
	9/30/2011			6/30/2011			3/31/2011			12/31/2010			9/30/2010
Funds from operations⁽¹⁾
Net income (loss) attributable to the controlling interests	$	63,008		$	6,522		$	4,665		$	10,591		$	6,625
Real estate depreciation and amortization		23,479			22,526			21,894			20,492			20,224
Gain from non-disposal activities		—			—			—			(3	)		(4	)
Discontinued operations:
Gain on sale of real estate		(56,639	)		—			—			(13,657	)		—
Income tax expense (benefit)		(35	)		1,173			—			—			—
Real estate depreciation and amortization		943			2,933			3,355			3,699			4,054

Funds from operations (FFO)	$	30,756		$	33,154		$	29,914		$	21,122		$	30,899

Loss (gain) on extinguishment of debt		—			—			—			8,896			238
Real estate impairment		—			—			599			—			—
Acquisition costs		1,600			322			1,649			709			(12	)

Core FFO ⁽¹⁾	$	32,356		$	33,476		$	32,162		$	30,727		$	31,125


Allocation to participating securities⁽²⁾		(385	)		(38	)		(46	)		(47	)		(21	)

FFO per share - basic	$	0.46		$	0.50		$	0.45		$	0.33		$	0.49
FFO per share - fully diluted	$	0.46		$	0.50		$	0.45		$	0.33		$	0.49

Core FFO per share - fully diluted	$	0.48		$	0.51		$	0.49		$	0.48		$	0.49

Funds available for distribution⁽¹⁾
FFO	$	30,756		$	33,154		$	29,914		$	21,122		$	30,899
Non-cash (gain)/loss on extinguishment of debt		—			—			—			2,922			238
Tenant improvements		(2,469	)		(1,950	)		(2,370	)		(6,373	)		(2,863	)
Leasing commissions and incentives		(3,859	)		(1,116	)		(2,232	)		(2,089	)		(3,387	)
Recurring capital improvements		(2,148	)		(3,072	)		(691	)		(1,698	)		(1,377	)
Straight-line rent, net		(715	)		(586	)		(657	)		(951	)		(1,099	)
Non-cash fair value interest expense		145			191			179			345			760
Non-real estate depreciation and amortization		1,126			888			874			889			1,094
Amortization of lease intangibles, net		(329	)		(413	)		(278	)		(437	)		(413	)
Amortization and expensing of restricted share and unit compensation		1,376			1,488			1,257			1,553			1,311
Real estate impairment		—			—			599			—			—

Funds available for distribution (FAD)	$	23,883		$	28,584		$	26,595		$	15,283		$	25,163

Cash loss (gain) on extinguishment of debt		—			—			—			5,974			—
Acquisition costs		1,600			322			1,649			709			(12	)

Core FAD ⁽¹⁾	$	25,483		$	28,906		$	28,244		$	21,966		$	25,151


Allocation to participating securities⁽²⁾		(385	)		(38	)		(46	)		(47	)		(21	)

FAD per share - basic	$	0.36		$	0.43		$	0.40		$	0.24		$	0.40
FAD per share - fully diluted	$	0.36		$	0.43		$	0.40		$	0.24		$	0.40

Core FAD per share - fully diluted	$	0.38		$	0.44		$	0.43		$	0.34		$	0.40

Common dividend per share	$	0.4338		$	0.4338		$	0.4338		$	0.4338		$	0.4325

Average shares - basic		66,017			65,954			65,885			64,536			62,894
Average shares - fully diluted		66,064			65,989			65,907			64,536			63,055

⁽¹⁾	See “Supplemental Definitions” on page 27 of this supplemental for the definitions of FFO, Core FFO, FAD and Core FAD.

⁽²⁾	Adjustment to the numerators for FFO, Core FFO, FAD and Core FAD per share calculations when applying the two-class method for calculating EPS.

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	Three Months Ended
	9/30/2011			6/30/2011		3/31/2011		12/31/2010			9/30/2010
Adjusted EBITDA⁽¹⁾

Net income attributable to the controlling interests	$	63,008		$	6,522	$	4,665	$	10,591		$	6,625
Add:
Interest expense, including discontinued operations		16,739			17,097		17,126		17,801			17,100
Real estate depreciation and amortization, including discontinued operations		24,422			25,459		25,249		24,191			24,278
Income tax expense (benefit)		(27	)		1,173		—		—			—
Real estate impairment		—			—		599		—			—
Non-real estate depreciation		243			248		268		279			277
Less:
Gain on sale of real estate		(56,639	)		—		—		(13,657	)		—
Loss (gain) on extinguishment of debt		—			—		—		8,896			238
Gain from non-disposal activities		—			—		—		(3	)		(4	)


Adjusted EBITDA	$	47,746		$	50,499	$	47,907	$	48,098		$	48,514

(1)

Adjusted EBITDA is earnings before interest expense, taxes, depreciation, amortization, gain on sale of real estate, gain/loss on extinguishment of debt and gain from non-disposal activities. We consider Adjusted EBITDA to be an appropriate supplemental performance measure because it permits investors to view income from operations without the effect of depreciation, the cost of debt or non-operating gains and losses. Adjusted EBITDA is a non-GAAP measure.

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	9/30/2011			6/30/2011			3/31/2011			12/31/2010			9/30/2010
Balances Outstanding

Secured
Conventional fixed rate⁽¹⁾	$	446,715		$	378,469		$	379,333		$	380,171		$	381,109

Secured total		446,715			378,469			379,333			380,171			381,109

Unsecured
Fixed rate bonds and notes		657,378			659,934			753,692			753,587			930,201
Credit facility		193,000			245,000			160,000			100,000			100,000

Unsecured total		850,378			904,934			913,692			853,587			1,030,201

Total	$	1,297,093		$	1,283,403		$	1,293,025		$	1,233,758		$	1,411,310


Average Interest Rates

Secured
Conventional fixed rate		5.9	%		5.9	%		5.9	%		5.9	%		5.9	%

Secured total		5.9	%		5.9	%		5.9	%		5.9	%		5.9	%

Unsecured
Fixed rate bonds		5.4	%		5.4	%		5.4	%		5.4	%		5.5	%
Credit facilities⁽²⁾		2.1	%		1.4	%		1.8	%		2.5	%		2.5	%

Unsecured total		4.6	%		4.3	%		4.8	%		5.1	%		5.2	%

Average		5.1	%		4.8	%		5.1	%		5.4	%		5.4	%

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 $4.4 million and $2.6 million, respectively.

⁽¹⁾	Balances include the mortgage notes secured by Dulles Business Park, a property which held for sale as of September 30, 2011, and has been reclassified to “Other liabilities related to properties sold or held for sale.” We repaid this mortgage note on October 7, 2011.

⁽²⁾

On December 1, 2009, we borrowed $100.0 million on our lines of credit in order to prepay a $100.0 million term loan. From February 20, 2010 through June 30, 2011, an interest rate swap effectively fixed the interest rate at 2.525%. From July 1, 2011 through November 1, 2011, the interest rate swap effectively fixes the interest rate at 2.845%.

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	*Future Maturities of Debt*
Year	Secured Debt			Unsecured Debt		Credit Facilities		Total Debt		Average Interest Rate
2011	$	18,952	⁽¹⁾	$	—		—	$	18,952		4.8	%
2012		27,000			50,000		74,000		151,000		3.7	%
2013		87,580			60,000		—		147,580		5.4	%
2014		3,724			100,000		119,000		222,724		3.6	%
2015		22,390			150,000		—		172,390		5.3	%
2016		134,943			—		—		134,943		5.7	%
2017		104,953			—		—		104,953		7.2	%
2018		3,277			—		—		3,277		5.1	%
2019		34,060			—		—		34,060		5.3	%
2020		2,818			250,000		—		252,818		5.1	%
2021		2,997			—		—		2,997		5.1	%
Thereafter		8,443			50,000		—		58,443		7.0	%

Total maturities	$	451,137		$	660,000	$	193,000	$	1,304,137		5.1	%

Weighted average maturity = 5.0 years

⁽¹⁾	WRIT prepaid the remaining principal on the Dulles Business Park mortgages subsequent to the end of Q3 2011.

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Unsecured Notes Payable

Unsecured Line of Credit #1
($75.0 million)

Unsecured Line of Credit #2
($400.0 million)

Quarter Ended
September 30,
2011

Covenant

Quarter Ended
September 30,
2011

Covenant

Quarter Ended
September 30,
2011

Covenant

% of Total Indebtedness to Total Assets⁽¹⁾

43.7

£ 65.0

N/A

Ratio of Income Available for Debt Service to Annual Debt Service

2.9

³ 1.5

N/A

% of Secured Indebtedness to Total Assets⁽¹⁾

14.6

£ 40.0

N/A

Ratio of Total Unencumbered Assets⁽²⁾ to Total Unsecured Indebtedness

2.5

³ 1.5

N/A

Tangible Net Worth⁽³⁾

N/A

$1.1 billion

³ $808.6 million

820.6 million

³ $671.9 million

% of Total Liabilities to Gross Asset Value⁽⁵⁾

N/A

53.6

£ 60.0

52.1

£ 60.0

% of Secured Indebtedness to Gross Asset Value⁽⁵⁾

N/A

16.7

£ 35.0

16.2

£ 35.0

Ratio of EBITDA⁽⁴⁾ to Fixed Charges⁽⁶⁾

N/A

2.59

³ 1.75

2.59

³ 1.50

Ratio of Unencumbered Pool Value⁽⁸⁾ to Unsecured Indebtedness

N/A

2.44

³ 1.67

2.41

³ 1.67

Ratio of Unencumbered Net Operating Income to Unsecured Interest Expense

N/A

3.43

³ 2.00

% of Development in Progress to Gross Asset Value⁽⁵⁾

N/A

1.5

£ 30.0

N/A

% of Non-Wholly Owned Assets⁽⁷⁾ to Gross Asset Value⁽⁵⁾

N/A

1.8

£ 15.0

N/A

Ratio of Investments⁽⁹⁾ to Gross Asset Value⁽⁵⁾

N/A

1.5

£ 15.0

⁽¹⁾	Total Assets is calculated by applying a capitalization rate of 7.50% to the EBITDA⁽⁴⁾ from the last four consecutive quarters, excluding EBITDA from acquired, disposed, and non-stabilized development properties.

⁽²⁾	Total Unencumbered Assets is calculated by applying a capitalization rate of 7.50% to the EBITDA⁽⁴⁾ from unencumbered properties from the last four consecutive quarters, excluding EBITDA from acquired, disposed, and non-stabilized development properties.

⁽³⁾	Tangible Net Worth is defined as shareholders equity less accumulated depreciation at the commitment start date plus current accumulated depreciation.

⁽⁴⁾	EBITDA is defined in our debt covenants as earnings before minority interests, depreciation, amortization, interest expense, income tax expense, and extraordinary and nonrecurring gains and losses.

⁽⁵⁾

Gross Asset Value is calculated by applying a capitalization rate to the annualized EBITDA⁽⁴⁾ from the most recently ended quarter, excluding EBITDA from disposed properties and current quarter acquisitions. To this amount, the purchase price of current quarter acquisitions, cash and cash equivalents and development in progress is added.

⁽⁶⁾	Fixed Charges consist of interest expense, principal payments, ground lease payments and replacement reserve payments.

⁽⁷⁾	Non-Wholly Owned Assets is calculated by applying a capitalization rate of 7.50% to the EBITDA⁽⁴⁾ from properties subject to a joint operating agreement (i.e. NVIP I&II). We add to this amount the development in progress subject to a joint operating agreement (i.e. 4661 Kenmore Avenue).

⁽⁸⁾

Unencumbered Pool Value is calculated by applying a capitalization rate of 7.75% to the net operating income from unencumbered properties owned for the entire quarter. To this we add the purchase price of unencumbered acquisitions during the current quarter and, for Unsecured Line of Credit #1 only, development in progress.

⁽⁹⁾	Investments is defined as development in progress, including land held for development, plus budgeted development costs upon commencement of construction, if any.

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	9/30/2011			6/30/2011			3/31/2011			12/31/2010			9/30/2010
Market Data

Shares Outstanding		66,066			66,017			65,941			65,870			64,093
Market Price per Share	$	28.18		$	32.52		$	31.09		$	30.99		$	31.73
Equity Market Capitalization	$	1,861,740		$	2,146,873		$	2,050,106		$	2,041,311		$	2,033,671

Total Debt ⁽¹⁾	$	1,297,093		$	1,283,403		$	1,293,025		$	1,233,758		$	1,411,310

Total Market Capitalization	$	3,158,833		$	3,430,276		$	3,343,131		$	3,275,069		$	3,444,981

Total Debt to Market Capitalization		0.41:1			0.37:1			0.39:1			0.38:1			0.41:1


Earnings to Fixed Charges⁽²⁾		1.1x			1.3x			1.1x			0.6x			1.2x
Debt Service Coverage Ratio⁽³⁾		2.7x			2.8x			2.6x			2.5x			2.7x

Dividend Data

Total Dividends Paid	$	28,641		$	28,621		$	28,587		$	28,438		$	27,485
Common Dividend per Share	$	0.43		$	0.43		$	0.43		$	0.43		$	0.43
Payout Ratio (Core FFO per share basis)		90.4	%		85.0	%		88.5	%		90.4	%		88.3	%
Payout Ratio (Core FAD per share basis)		114.1	%		98.6	%		100.9	%		127.6	%		108.1	%
Payout Ratio (FAD per share basis)		120.5	%		100.9	%		108.4	%		180.7	%		108.1	%

⁽¹⁾	“Total Debt” balance includes a $17.8 million mortgage notes payable secured by Dulles Business Park, that has been reclassified to “Other liabilities related to properties sold or held for sale”. We repaid this mortgage note on October 7, 2011.

⁽²⁾

The ratio of earnings to fixed charges is computed by dividing earnings by fixed charges. For this purpose, earnings consist of income from continuing operations attributable to the controlling interests plus fixed charges, less capitalized interest. Fixed charges consist of interest expense, including amortized costs of debt issuance, plus interest costs capitalized.

⁽³⁾	Debt service coverage ratio is computed by dividing Adjusted EBITDA (see page 7) by interest expense and principal amortization.

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	Third Quarter⁽¹⁾						Year to Date⁽²⁾
	NOI Growth			Rental Rate Growth			NOI Growth			Rental Rate Growth
Cash Basis:
Multifamily		1.2	%		4.4	%		6.9	%		3.8	%
Office Buildings		4.4	%		2.0	%		2.1	%		2.2	%
Medical Office Buildings		1.4	%		3.1	%		1.2	%		3.3	%
Retail Centers		(3.2	)%		1.0	%		(3.6	)%		1.1	%

Overall Same-Store Portfolio		1.9	%		2.5	%		1.7	%		2.5	%

	Third Quarter⁽¹⁾						Year to Date⁽²⁾
	NOI Growth			Rental Rate Growth			NOI Growth			Rental Rate Growth
GAAP Basis:
Multifamily		1.0	%		4.3	%		6.7	%		3.8	%
Office Buildings		1.3	%		1.0	%		(0.5	)%		1.1	%
Medical Office Buildings		2.4	%		3.2	%		1.8	%		3.6	%
Retail Centers		(3.4	)%		0.9	%		(3.5	)%		1.2	%

Overall Same-Store Portfolio		0.6	%		2.0	%		0.6	%		2.1	%

⁽¹⁾	Non same-store properties were:

Acquisitions:

Office - 1140 Connecticut Avenue, 1227 25th Street, Braddock Metro Center and John Marshall II.

Retail - Gateway Overlook, Olney Village Center.

Medical Office - Lansdowne Medical Office Building.

Held for sale and sold properties:

Office - Dulles Station, Phase I.

Industrial/Office - Industrial Portfolio (see page 27 of this Supplement).

⁽²⁾	Non same-store properties were:

Acquisitions:

Office - Quantico Corporate Center, 1140 Connecticut Avenue, 1227 25th Street, Braddock Metro Center and John Marshall II.

Retail - Gateway Overlook, Olney Village Center.

Medical Office - Lansdowne Medical Office Building.

Held for sale and sold properties:

Office - Parklawn Plaza, Lexington, Saratoga, Ridges, and Dulles Station, Phase I.

Industrial/Office - Charleston, Ammendale I & II, Amvax, and the Industrial Portfolio (see page 27 of this Supplement).

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	Three Months Ended September 30,
	2011		2010		% Change

Cash Basis:
Multifamily	$	7,519	$	7,432		1.2	%
Office Buildings		20,108		19,261		4.4	%
Medical Office Buildings		7,376		7,272		1.4	%
Retail Centers		7,455		7,698		(3.2	)%

	$	42,458	$	41,663		1.9	%


GAAP Basis:
Multifamily	$	7,714	$	7,636		1.0	%
Office Buildings		20,558		20,289		1.3	%
Medical Office Buildings		7,658		7,480		2.4	%
Retail Centers		7,570		7,837		(3.4	)%

	$	43,500	$	43,242		0.6	%

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	Three Months Ended September 30, 2011
	Multifamily			Office			Medical Office			Retail			Industrial/Flex		Corporate and Other			Total
Real estate rental revenue
Same-store portfolio	$	12,871		$	31,306		$	11,167		$	10,139		$	—		—		$	65,483
Non same-store - acquired and in development⁽¹⁾		—			3,903			184			2,361			—		—			6,448

Total		12,871			35,209			11,351			12,500			—		—			71,931

Real estate expenses
Same-store portfolio		5,157			10,748			3,509			2,569			—		—			21,983
Non same-store - acquired and in development⁽¹⁾		—			1,442			147			498			—		—			2,087

Total		5,157			12,190			3,656			3,067			—		—			24,070

Net Operating Income (NOI)
Same-store portfolio		7,714			20,558			7,658			7,570			—		—			43,500
Non same-store - acquired and in development⁽¹⁾		—			2,461			37			1,863			—		—			4,361

Total	$	7,714		$	23,019		$	7,695		$	9,433		$	—		—		$	47,861


Same-store portfolio NOI GAAP basis (from above)	$	7,714		$	20,558		$	7,658		$	7,570		$	—		—		$	43,500
Straight-line revenue, net for same-store properties		(3	)		(295	)		(196	)		(57	)		—		—			(551	)
FAS 141 Min Rent		(192	)		(274	)		(96	)		(77	)		—		—			(639	)
Amortization of lease intangibles for same-store properties		—			119			10			19			—		—			148

Same-store portfolio NOI, cash basis	$	7,519		$	20,108		$	7,376		$	7,455		$	—		—		$	42,458


Reconciliation of NOI to net income
Total NOI	$	7,714		$	23,019		$	7,695		$	9,433		$	—		—		$	47,861
Other income		—			—			—			—			—		270			270
Acquisition costs		—			—			—			—			—		(1,600	)		(1,600	)
Interest expense		(1,719	)		(2,405	)		(1,251	)		(420	)		—		(10,713	)		(16,508	)
Depreciation and amortization		(3,175	)		(12,772	)		(3,828	)		(3,170	)		—		(534	)		(23,479	)
General and administrative		—			—			—			—			—		(3,837	)		(3,837	)
Discontinued operations⁽²⁾		—			330			—			—			3,325		—			3,655
Income tax benefit (expense)		—			—			—			—			—		35			35
Gain on sale of real estate		—			—			—			—			—		56,639			56,639

Net Income		2,820			8,172			2,616			5,843			3,325		40,260			63,036
Net income attributable to noncontrolling interests		—			—			—			—			—		(28	)		(28	)

Net income attributable to the controlling interests	$	2,820		$	8,172		$	2,616		$	5,843		$	3,325	$	40,232		$	63,008

⁽¹⁾	Non same-store properties were:

Acquisitions:

Office - 1140 Connecticut Avenue, 1227 25th Street, Braddock Metro Center and John Marshall II.

Retail - Gateway Overlook.

Medical Office - Lansdowne Medical Office Building.

⁽²⁾	Discontinued operations included the following held for sale and sold properties:

Office - Dulles Station, Phase I.

Industrial/Office - Industrial Portfolio (see page 27 of this Supplement).

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	Three Months Ended September 30, 2010
	Multifamily			Office			Medical Office			Retail			Industrial/Flex		Corporate and Other			Total
Real estate rental revenue
Same-store portfolio	$	12,434		$	31,740		$	10,979		$	9,865		$	—		—		$	65,018
Non same-store - acquired and in development⁽¹⁾		—			—			14			—			—		—			14

Total		12,434			31,740			10,993			9,865			—		—			65,032

Real estate expenses
Same-store portfolio		4,798			11,451			3,499			2,028			—		—			21,776
Non same-store - acquired and in development⁽¹⁾		—			—			136			—			—		—			136

Total		4,798			11,451			3,635			2,028			—		—			21,912

Net Operating Income (NOI)
Same-store portfolio		7,636			20,289			7,480			7,837			—		—			43,242
Non same-store - acquired and in development⁽¹⁾		—			—			(122	)		—			—		—			(122	)

Total	$	7,636		$	20,289		$	7,358		$	7,837		$	—		—		$	43,120


Same-store portfolio NOI GAAP basis (from above)	$	7,636		$	20,289		$	7,480		$	7,837		$	—		—		$	43,242
Straight-line revenue, net for same-store properties		(12	)		(691	)		(121	)		(71	)		—		—			(895	)
FAS 141 Min Rent		(192	)		(321	)		(98	)		(79	)		—		—			(690	)
Amortization of lease intangibles for same-store properties		—			(16	)		11			11			—		—			6

Same-store portfolio NOI, cash basis	$	7,432		$	19,261		$	7,272		$	7,698		$	—		—		$	41,663


Reconciliation of NOI to net income
Total NOI	$	7,636		$	20,289		$	7,358		$	7,837		$	—		—		$	43,120
Other income		—			—			—			—			—		289			289
Acquisition costs		—			—			—			—			—		—			—
Interest expense		(1,726	)		(2,278	)		(1,354	)		(324	)		—		(11,035	)		(16,717	)
Depreciation and amortization		(3,435	)		(10,894	)		(3,804	)		(1,771	)		—		(320	)		(20,224	)
General and administrative		—			—			—			—			—		(3,141	)		(3,141	)
Loss on extinguishment of debt		—			—			—			—			—		(238	)		(238	)
Gain from non-disposal activities		—			—			—			—			—		4			4
Discontinued operations⁽²⁾		—			456			—			—			3,109		—			3,565
Gain on sale of real estate		—			—			—			—			—		—			—

Net income		2,475			7,573			2,200			5,742			3,109		(14,441	)		6,658
Net income attributable to noncontrolling interests		—			—			—			—			—		(33	)		(33	)

Net income attributable to the controlling interests	$	2,475		$	7,573		$	2,200		$	5,742		$	3,109	$	(14,474	)	$	6,625

⁽¹⁾	Non same-store properties were:

Acquisitions:

Medical Office - Lansdowne Medical Office Building.

⁽²⁾	Discontinued operations included the following held for sale and sold properties:

Office - Dulles Station, Phase I and the Ridges.

Industrial/Office - Ammendale I & II, Amvax and the Industrial Portfolio (see page 27 of this Supplement).

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WRIT Portfolio

Maryland/Virginia/DC


	Percentage of Q3 2011 GAAP NOI			Percentage of YTD 2011 GAAP NOI
DC
Multifamily		4.0	%		4.0	%
Office		19.1	%		19.8	%
Medical Office		1.8	%		1.9	%
Retail		0.7	%		0.7	%

		25.6	%		26.4	%

Maryland
Multifamily		2.3	%		2.5	%
Office		12.6	%		12.7	%
Medical Office		4.5	%		4.6	%
Retail		12.9	%		12.1	%

		32.3	%		31.9	%

Virginia
Multifamily		9.8	%		9.9	%
Office		16.5	%		15.9	%
Medical Office		9.7	%		9.9	%
Retail		6.1	%		6.0	%

		42.1	%		41.7	%

Total Portfolio		100.0	%		100.0	%

WRIT Portfolio

Inside & Outside the Beltway


	Percentage of Q3 2011 GAAP NOI			Percentage of YTD 2011 GAAP NOI
Inside the Beltway
Multifamily		15.3	%		15.5	%
Office		26.8	%		26.6	%
Medical Office		3.2	%		3.2	%
Retail		6.8	%		6.7	%

		52.1	%		52.0	%

Outside the Beltway
Multifamily		0.8	%		0.9	%
Office		21.3	%		21.8	%
Medical Office		12.9	%		13.2	%
Retail		12.9	%		12.1	%

		47.9	%		48.0	%

Total Portfolio		100.0	%		100.0	%

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	Physical Occupancy - Same-Store Properties ⁽¹⁾
Sector	9/30/2011			6/30/2011			3/31/2011			12/31/2010			9/30/2010

Multifamily		94.0	%		95.6	%		95.3	%		95.7	%		96.4	%
Office Buildings		88.1	%		88.4	%		89.3	%		89.4	%		89.4	%
Medical Office		91.3	%		91.7	%		93.5	%		93.8	%		93.3	%
Retail Centers		91.8	%		92.3	%		92.2	%		92.5	%		92.2	%
Industrial / Flex		—	%		—	%		—	%		—	%		—	%


Overall Portfolio		90.7	%		91.3	%		91.8	%		92.1	%		92.1	%

	Physical Occupancy - All Properties
Sector	9/30/2011			6/30/2011			3/31/2011			12/31/2010			9/30/2010

Multifamily		94.0	%		95.6	%		95.3	%		95.7	%		96.4	%
Office Buildings		88.6	%		88.1	%		89.1	%		89.4	%		89.6	%
Medical Office		87.2	%		87.3	%		88.3	%		88.5	%		87.8	%
Retail Centers		92.3	%		92.0	%		92.0	%		92.1	%		92.2	%
Industrial / Flex		75.4	%		78.4	%		80.2	%		78.6	%		79.5	%


Overall Portfolio		89.0	%		87.7	%		88.5	%		88.3	%		88.4	%

⁽¹⁾	Non same-store properties were:

Acquisitions:

Office - 1140 Connecticut Avenue, 1227 25th Street, Braddock Metro Center and John Marshall II.

Retail - Gateway Overlook, Olney Village Center.

Medical Office - Lansdowne Medical Office Building.

Held for sale and sold properties:

Office - Dulles Station, Phase I and the Ridges.

Industrial/Office - Ammendale I & II, Amvax and the Industrial Portfolio (see page 27 of this Supplement).

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	Economic Occupancy - Same-Store Properties⁽¹⁾
Sector	9/30/2011			6/30/2011			3/31/2011			12/31/2010			9/30/2010

Multifamily		94.1	%		94.9	%		94.8	%		95.5	%		95.6	%
Office Buildings		89.2	%		90.2	%		90.3	%		89.7	%		89.9	%
Medical Office Buildings		92.8	%		94.0	%		94.2	%		94.5	%		94.8	%
Retail Centers		92.0	%		92.3	%		92.3	%		91.4	%		91.7	%
Industrial / Flex		—	%		—	%		—	%		—	%		—	%


Overall Portfolio		91.2	%		92.1	%		92.1	%		91.9	%		92.1	%

	Economic Occupancy - All Properties
Sector	9/30/2011			6/30/2011			3/31/2011			12/31/2010			9/30/2010

Multifamily		94.1	%		94.9	%		94.8	%		95.5	%		95.6	%
Office Buildings		88.5	%		89.7	%		90.7	%		90.0	%		90.1	%
Medical Office Buildings		89.9	%		90.5	%		90.5	%		90.3	%		90.3	%
Retail Centers		92.3	%		92.3	%		92.0	%		91.4	%		91.7	%
Industrial / Flex		80.8	%		81.9	%		81.4	%		81.9	%		83.0	%


Overall Portfolio		89.5	%		90.2	%		90.5	%		90.2	%		90.3	%

⁽¹⁾	Non same-store properties were:

Acquisitions:

Office - 1140 Connecticut Avenue, 1227 25th Street, Braddock Metro Center and John Marshall II.

Retail - Gateway Overlook, Olney Village Center.

Medical Office - Lansdowne Medical Office Building.

Held for sale and sold properties:

Office - Dulles Station, Phase I and the Ridges.

Industrial/Office - Ammendale I & II, Amvax and the Industrial Portfolio (see page 27 of this Supplement).

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	3rd Quarter 2011		2nd Quarter 2011		1st Quarter 2011		4th Quarter 2010		3rd Quarter 2010
Gross Leasing Square Footage

Office Buildings		152,900		160,318		138,083		125,367		103,428
Medical Office Buildings		29,070		61,374		43,355		7,136		70,426
Retail Centers		59,910		38,482		78,669		97,055		52,501

Total		241,880		260,174		260,107		229,558		226,355

Weighted Average Term (yrs)

Office Buildings		4.3		7.5		3.6		5.4		4.4
Medical Office Buildings		4.9		5.5		6.0		3.9		5.4
Retail Centers		5.9		8.2		4.5		8.4		6.5

Total		4.7		7.1		4.3		6.6		5.2


	GAAP			CASH			GAAP			CASH			GAAP			CASH			GAAP			CASH			GAAP			CASH
Rental Rate Increases:
Rate on expiring leases

Office Buildings	$	36.04		$	37.87		$	25.59		$	26.66		$	31.41		$	32.26		$	28.72		$	30.30		$	27.63		$	28.50
Medical Office Buildings		34.63			36.79			30.74			32.36			32.91			34.90			35.53			37.37			30.40			32.62
Retail Centers		14.14			17.39			23.67			24.20			15.64			15.91			15.50			16.13			26.01			26.71

Total	$	30.19		$	32.41		$	26.53		$	27.65		$	26.89		$	27.76		$	23.34		$	24.53		$	28.12		$	29.36


Rate on new leases

Office Buildings	$	39.53		$	37.76		$	29.06		$	26.64		$	30.97		$	29.91		$	31.39		$	29.41		$	28.32		$	27.09
Medical Office Buildings		37.76			35.79			36.13			33.64			37.24			34.76			37.41			36.05			34.94			32.78
Retail Centers		18.56			21.96			25.88			24.34			16.48			16.30			21.79			20.41			30.57			29.36

Total	$	33.71		$	33.24		$	30.25		$	27.96		$	27.63		$	26.60		$	27.52		$	25.81		$	30.90		$	29.39


Percentage Increase

Office Buildings		9.69	%		(0.30	)%		13.58	%		(0.10	)%		(1.40	)%		(7.30	)%		9.31	%		(2.93	)%		2.48	%		(4.93	)%
Medical Office Buildings		9.04	%		(2.70	)%		17.51	%		3.96	%		13.14	%		(0.41	)%		5.28	%		(3.53	)%		14.95	%		0.51	%
Retail Centers		31.29	%		26.25	%		9.34	%		0.60	%		5.39	%		2.42	%		40.57	%		26.50	%		17.51	%		9.91	%

Total		11.66	%		2.56	%		14.06	%		1.13	%		2.76	%		(4.17	)%		17.90	%		5.22	%		9.90	%		0.08	%

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	3rd Quarter 2011				2nd Quarter 2011				1st Quarter 2011				4th Quarter 2010				3rd Quarter 2010
	Total Dollars		Dollars per Square Foot		Total Dollars		Dollars per Square Foot		Total Dollars		Dollars per Square Foot		Total Dollars		Dollars per Square Foot		Total Dollars		Dollars per Square Foot
Tenant Improvements

Office Buildings	$	2,067,782	$	13.52	$	3,019,025	$	18.83	$	535,261	$	3.88	$	2,461,268	$	19.63	$	1,296,474	$	12.54

Medical Office Buildings		112,145		3.86		893,785		14.56		384,334		8.86		86,937		12.18		859,927		12.21

Retail Centers		1,424,151		23.77		265,135		6.89		—		—		288,110		2.97		22,500		0.43


Subtotal	$	3,604,078	$	14.90	$	4,177,945	$	16.06	$	919,595	$	3.54	$	2,836,315	$	12.36	$	2,178,901	$	9.63


Leasing Costs

Office Buildings	$	1,596,565	$	10.44	$	2,189,912	$	13.66	$	582,007	$	4.21	$	1,478,762	$	11.80	$	771,853	$	7.46

Medical Office Buildings		206,298		7.10		716,648		11.68		530,073		12.23		21,352		2.99		372,579		5.29

Retail Centers		504,673		8.42		269,557		7.00		77,260		0.98		416,203		4.29		120,544		2.30


Subtotal	$	2,307,536	$	9.54	$	3,176,117	$	12.21	$	1,189,340	$	4.57	$	1,916,317	$	8.35	$	1,264,976	$	5.59


Tenant Improvements and Leasing Costs

Office Buildings	$	3,664,347	$	23.96	$	5,208,937	$	32.49	$	1,117,268	$	8.09	$	3,940,030	$	31.43	$	2,068,327	$	20.00

Medical Office Buildings		318,443		10.96		1,610,433		26.24		914,407		21.09		108,289		15.17		1,232,506		17.50

Retail Centers		1,928,824		32.19		534,692		13.89		77,260		0.98		704,313		7.26		143,044		2.73


Total	$	5,911,614	$	24.44	$	7,354,062	$	28.27	$	2,108,935	$	8.11	$	4,752,632	$	20.71	$	3,443,877	$	15.22

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Tenant	Number of Buildings		Weighted Average Remaining Lease Term in Months		Percentage of Aggregate Portfolio Annualized Rent			Aggregate Rentable Square Feet		Percentage of Aggregate Occupied Square Feet

World Bank		1		45		4.96	%		210,354		2.86	%
General Services Administration		6		35		3.04	%		177,530		2.41	%
Advisory Board Company		1		92		2.86	%		180,925		2.46	%
L-3 Services, Inc.		1		72		2.32	%		147,468		2.00	%
Booz Allen Hamilton, Inc.		1		52		2.27	%		222,989		3.03	%
Patton Boggs LLP		1		67		2.03	%		110,566		1.50	%
INOVA Health System		7		44		2.00	%		113,174		1.54	%
Sunrise Assisted Living, Inc.		1		24		1.63	%		115,289		1.57	%
Children’s Hospital		3		85		1.25	%		77,858		1.06	%
General Dynamics		2		33		1.17	%		88,359		1.20	%

Total/Weighted Average				55		23.53	%		1,444,512		19.63	%

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Industry Classification (NAICS)	Annualized Base Rental Revenue		Percentage of Aggregate Annualized Rent			Aggregate Rentable Square Feet		Percentage of Aggregate Square Feet

Professional, Scientific, and Technical Services	$	70,936,239		32.96	%		2,309,557		31.11	%
Ambulatory Health Care Services		39,130,938		18.18	%		1,145,381		15.43	%
Credit Intermediation and Related Activities		16,002,437		7.44	%		315,901		4.26	%
Executive, Legislative, and Other General Government Support		8,126,219		3.78	%		296,620		4.00	%
Food Services and Drinking Places		7,615,934		3.54	%		247,274		3.33	%
Religious, Grantmaking, Civic, Professional, and Similar Organizations		7,436,940		3.46	%		216,227		2.91	%
Food and Beverage Stores		5,471,508		2.54	%		317,729		4.28	%
Educational Services		4,781,622		2.22	%		162,966		2.20	%
Nursing and Residential Care Facilities		4,144,413		1.93	%		117,500		1.58	%
Miscellaneous Store Retailers		3,313,888		1.54	%		180,823		2.44	%
Health and Personal Care Stores		3,219,022		1.50	%		99,307		1.34	%
Clothing and Clothing Accessories Stores		3,173,125		1.47	%		166,413		2.24	%
Furniture and Home Furnishings Stores		3,131,393		1.46	%		151,826		2.05	%
Broadcasting (except Internet)		3,002,952		1.40	%		86,333		1.16	%
Administrative and Support Services		2,790,659		1.30	%		85,687		1.15	%
Electronics and Appliance Stores		2,546,306		1.18	%		157,155		2.12	%
Personal and Laundry Services		2,482,855		1.15	%		83,191		1.12	%
Hospitals		2,441,411		1.13	%		70,909		0.96	%
Sporting Goods, Hobby, Book, and Music Stores		2,432,301		1.13	%		156,134		2.10	%
Real Estate		1,723,959		0.80	%		60,495		0.82	%
General Merchandise Stores		1,672,527		0.78	%		209,452		2.82	%
Amusement, Gambling, and Recreation Industries		1,224,485		0.57	%		75,446		1.02	%
Transportation Equipment Manufacturing		1,211,231		0.56	%		39,989		0.54	%
Computer and Electronic Product Manufacturing		1,144,504		0.53	%		40,684		0.55	%
Printing and Related Support Activities		1,115,972		0.52	%		48,775		0.66	%
Insurance Carriers and Related Activities		1,014,707		0.47	%		38,181		0.51	%
Management of Companies and Enterprises		963,518		0.45	%		45,864		0.62	%
Securities, Commodity Contracts, Other Financial Investments & Related Activities		856,417		0.40	%		32,893		0.44	%
Publishing Industries (except Internet)		758,589		0.35	%		24,415		0.33	%
Merchant Wholesalers, Durable Goods		622,499		0.29	%		38,619		0.52	%

Building Material and Garden Equipment and Supplies Dealers		546,917		0.25	%		28,059		0.38	%
Other		10,183,858		4.72	%		374,735		5.01	%

Total	$	215,219,345		100.00	%		7,424,540		100.00	%

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Year	Number of Leases		Rentable Square Feet		Percent of Rentable Square Feet			Annualized Rent *		Average Rental Rate		Percent of Annualized Rent *
Office:
2011		36		196,957		4.66	%	$	6,350,812	$	32.24		4.17	%
2012		101		444,718		10.52	%		14,489,160		32.58		9.52	%
2013		90		470,914		11.14	%		15,109,944		32.09		9.93	%
2014		89		753,110		17.82	%		26,007,477		34.53		17.09	%
2015		73		524,483		12.41	%		21,670,615		41.32		14.24	%
2016 and thereafter		190		1,836,220		43.45	%		68,519,990		37.32		45.05	%

		579		4,226,402		100.00	%	$	152,147,998	$	36.00		100.00	%


Medical Office:
2011		15		28,849		2.54	%	$	1,009,190	$	34.98		2.25	%
2012		52		176,279		15.51	%		6,477,693		36.75		14.47	%
2013		58		174,273		15.34	%		6,152,384		35.30		13.75	%
2014		44		125,241		11.02	%		4,869,724		38.88		10.88	%
2015		29		97,754		8.60	%		3,708,132		37.93		8.29	%
2016 and thereafter		132		533,845		46.99	%		22,538,378		42.22		50.36	%

		330		1,136,241		100.00	%	$	44,755,501	$	39.39		100.00	%


Retail:
2011		14		27,871		1.32	%	$	675,725	$	24.24		1.47	%
2012		69		205,415		9.76	%		4,866,927		23.69		10.61	%
2013		45		409,929		19.49	%		6,322,461		15.42		13.79	%
2014		31		132,065		6.28	%		2,939,371		22.26		6.41	%
2015		36		310,133		14.74	%		6,126,247		19.75		13.36	%
2016 and thereafter		112		1,018,364		48.41	%		24,935,521		24.49		54.36	%

		307		2,103,777		100.00	%	$	45,866,252	$	21.80		100.00	%


Total:
2011		65		253,677		3.40	%	$	8,035,727	$	31.68		3.31	%
2012		222		826,412		11.07	%		25,833,780		31.26		10.64	%
2013		193		1,055,116		14.13	%		27,584,789		26.14		11.36	%
2014		164		1,010,416		13.53	%		33,816,572		33.47		13.93	%
2015		138		932,370		12.49	%		31,504,994		33.79		12.98	%
2016 and thereafter		434		3,388,429		45.38	%		115,993,889		34.23		47.78	%

		1,216		7,466,420		100.00	%	$	242,769,751	$	32.51		100.00	%

Note: Lease expiration data exclude properties classified as sold or held for sale.

*	Annualized Rent is equal to the rental rate effective at lease expiration (cash basis) multiplied by 12.

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Acquisition Summary


		Acquisition Date	Square Feet		Leased Percentage at Acquisition			9/30/2011 Leased Percentage			Investment
1140 Connecticut Avenue	Washington, DC	January 11, 2011		184,000		99	%		89	%	$	80,250
1227 25th Street	Washington, DC	March 30, 2011		130,000		72	%		72	%		47,000
650 North Glebe Road ⁽¹⁾	Arlington, Virginia	June 15, 2011		land for development		N/A			N/A			11,800
Olney Village Center	Olney, Maryland	August 30, 2011		199,000		99	%		100	%		58,000
Braddock Metro Center	Alexandria, Virginia	September 13, 2011		345,000		92	%		92	%		101,000
John Marshall II	Tysons Corner, Virginia	September 15, 2011		223,000		100	%		100	%		73,500

		Total		1,081,000							$	371,550


Disposition Summary

		Disposition Date	Property Type		Square Feet			Contract Sales Price			GAAP Gain
Dulles Station, Phase I	Herndon, VA	April 5, 2011		Office		180,000		$	58,800		$	—
Industrial Portfolio, Phase I⁽²⁾	Various locations	September 1, 2011		Industrial/ Office		2,000,000		$	235,800		$	56,639

						2,180,000		$	294,600		$	56,639

⁽¹⁾	Acquisition of 37,000 square feet of land in a joint venture to develop a six story, 150 unit apartment community. WRIT is a 90% owner of the joint venture.

⁽²⁾

The Industrial Portfolio consists of every industrial property, as well as two office properties, the Crescent and Albemarle Point. We are executing the sale in three phases. Phase I of the Industrial Portfolio sale consists of industrial properties (8880 Gorman Road, Dulles South IV, Fullerton Business Center, Hampton Overlook, Alban Business Center, Pickett Industrial Park, Northern Virginia Industrial Park I, 270 Technology Park, Fullerton Industrial Center, Sully Square, 9950 Business Parkway, Hampton South and 8900 Telegraph Road) and two office properties (Crescent and Albemarle Point). On October 3, 2011 we closed on Phase II of the sale, consisting of Northern Virginia Industrial Park II. We expect to close on Phase III of the sale on November 1, 2011, consisting of 6100 Columbia Park Road and Dulles Business Park.

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PROPERTIES	LOCATION	YEAR ACQUIRED	YEAR CONSTRUCTED	NET RENTABLE SQUARE FEET*

Office Buildings
1901 Pennsylvania Avenue	Washington, DC	1977	1960		97,000
51 Monroe Street	Rockville, MD	1979	1975		210,000
515 King Street	Alexandria, VA	1992	1966		76,000
6110 Executive Boulevard	Rockville, MD	1995	1971		198,000
1220 19th Street	Washington, DC	1995	1976		102,000
1600 Wilson Boulevard	Arlington, VA	1997	1973		166,000
7900 Westpark Drive	McLean, VA	1997	1972/1986/1999		523,000
600 Jefferson Plaza	Rockville, MD	1999	1985		112,000
1700 Research Boulevard	Rockville, MD	1999	1982		101,000
Wayne Plaza	Silver Spring, MD	2000	1970		91,000
Courthouse Square	Alexandria, VA	2000	1979		113,000
One Central Plaza	Rockville, MD	2001	1974		267,000
The Atrium Building	Rockville, MD	2002	1980		80,000
1776 G Street	Washington, DC	2003	1979		263,000
6565 Arlington Boulevard	Falls Church, VA	2006	1967/1998		132,000
West Gude Drive	Rockville, MD	2006	1984/1986/1988		276,000
Monument II	Herndon, VA	2007	2000		205,000
Woodholme Center	Pikesville, MD	2007	1989		73,000
2000 M Street	Washington, DC	2007	1971		227,000
2445 M Street	Washington, DC	2008	1986		290,000
925 Corporate Drive	Stafford, VA	2010	2007		135,000
1000 Corporate Drive	Stafford, VA	2010	2009		136,000
1140 Connecticut Avenue	Washington, DC	2011	1966		184,000
1227 25th Street	Washington, DC	2011	1988		130,000
Braddock Metro Center	Alexandria, VA	2011	1985		345,000
John Marshall II	Tysons Corner, VA	2011	1996/2010		223,000

Subtotal					4,755,000


Medical Office Buildings
Woodburn Medical Park I	Annandale, VA	1998	1984		71,000
Woodburn Medical Park II	Annandale, VA	1998	1988		96,000
Prosperity Medical Center I	Merrifield, VA	2003	2000		92,000
Prosperity Medical Center II	Merrifield, VA	2003	2001		88,000
Prosperity Medical Center III	Merrifield, VA	2003	2002		75,000
Shady Grove Medical Village II	Rockville, MD	2004	1999		66,000
8301 Arlington Boulevard	Fairfax, VA	2004	1965		49,000
Alexandria Professional Center	Alexandria, VA	2006	1968		113,000
9707 Medical Center Drive	Rockville, MD	2006	1994		38,000
15001 Shady Grove Road	Rockville, MD	2006	1999		51,000
Plumtree Medical Center	Bel Air, MD	2006	1991		33,000
15005 Shady Grove Road	Rockville, MD	2006	2002		52,000
2440 M Street	Washington, DC	2007	1986/2006		110,000
Woodholme Medical Office Building	Pikesville, MD	2007	1996		125,000
Ashburn Office Park	Ashburn, VA	2007	1998/2000/2002		75,000
CentreMed I & II	Centreville, VA	2007	1998		52,000
Sterling Medical Office Building	Sterling, VA	2008	1986/2000		36,000
Lansdowne Medical Office Building	Leesburg, VA	2009	2009		87,000

Subtotal					1,309,000

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PROPERTIES	LOCATION	YEAR ACQUIRED	YEAR CONSTRUCTED	NET RENTABLE SQUARE FEET*

Retail Centers
Takoma Park	Takoma Park, MD	1963	1962		51,000
Westminster	Westminster, MD	1972	1969		151,000
Concord Centre	Springfield, VA	1973	1960		76,000
Wheaton Park	Wheaton, MD	1977	1967		72,000
Bradlee	Alexandria, VA	1984	1955		168,000
Chevy Chase Metro Plaza	Washington, DC	1985	1975		49,000
Montgomery Village Center	Gaithersburg, MD	1992	1969		198,000
Shoppes of Foxchase ⁽¹⁾	Alexandria, VA	1994	1960		134,000
Frederick County Square	Frederick, MD	1995	1973		227,000
800 S. Washington Street	Alexandria, VA	1998/2003	1955/1959		44,000
Centre at Hagerstown	Hagerstown, MD	2002	2000		332,000
Frederick Crossing	Frederick, MD	2005	1999/2003		295,000
Randolph Shopping Center	Rockville, MD	2006	1972		82,000
Montrose Shopping Center	Rockville, MD	2006	1970		143,000
Gateway Overlook	Columbia, MD	2010	2007		223,000
Olney Village Center	Olney, MD	2011	1979/2003		199,000

Subtotal					2,444,000


Multifamily Buildings * / # units
3801 Connecticut Avenue / 308	Washington, DC	1963	1951		179,000
Roosevelt Towers / 191	Falls Church, VA	1965	1964		170,000
Country Club Towers / 227	Arlington, VA	1969	1965		163,000
Park Adams / 200	Arlington, VA	1969	1959		173,000
Munson Hill Towers / 279	Falls Church, VA	1970	1963		259,000
The Ashby at McLean / 256	McLean, VA	1996	1982		252,000
Walker House Apartments / 212	Gaithersburg, MD	1996	1971/2003 ⁽²⁾		159,000
Bethesda Hill Apartments / 195	Bethesda, MD	1997	1986		226,000
Bennett Park / 224	Arlington, VA	2007	2007		214,000
Clayborne / 74	Alexandria, VA	2008	2008		60,000
Kenmore Apartments / 374	Washington, DC	2008	1948		270,000

Subtotal (2,540 units)					2,125,000


Industrial Distribution / Flex Properties
Northern Virginia Industrial Park II	Lorton, VA	1998	1968/1991		570,000
Dulles Business Park	Chantilly, VA	2004/2005	1999-2005		324,000
6100 Columbia Park Road	Landover, MD	2008	1969		150,000

Subtotal					1,044,000


TOTAL					11,677,000

*	Multifamily buildings are presented in gross square feet.

⁽¹⁾	Development on approximately 60,000 square feet of the center was completed in December 2006.

⁽²⁾	A 16 unit addition referred to as The Gardens at Walker House was completed in October 2003.

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Adjusted EBITDA (a non-GAAP measure) is earnings attributable to the controlling interest before interest expense, taxes, depreciation, amortization, real estate impairment, gain on sale of real estate, gain/loss on extinguishment of debt and gain/loss from non-disposal activities.

Annualized base rent (“ABR”) is calculated as monthly base rent (cash basis) per the lease, as of the reporting period, multiplied by 12.

Debt service coverage ratio is computed by dividing earnings attributable to the controlling interest before interest expense, taxes, depreciation, amortization, real estate impairment, gain on sale of real estate, gain/loss on extinguishment of debt and gain/loss from non-disposal activities by interest expense (including interest expense from discontinued operations) and principal amortization.

Debt to total market capitalization is total debt from the balance sheet divided by the sum of total debt from the balance sheet plus the market value of shares outstanding at the end of the period.

Earnings to fixed charges ratio is computed by dividing earnings attributable to the controlling interest by fixed charges. For this purpose, earnings consist of income from continuing operations (or net income if there are no discontinued operations) plus fixed charges, less capitalized interest. Fixed charges consist of interest expense (excluding interest expense from discontinued operations), including amortized costs of debt issuance, plus interest costs capitalized.

Economic occupancy is calculated as actual real estate rental revenue recognized for the period indicated as a percentage of gross potential real estate rental revenue for that period. We determine gross potential real estate rental revenue by valuing occupied units or square footage at contract rates and vacant units or square footage at market rates for comparable properties. We do not consider percentage rents and expense reimbursements in computing economic occupancy percentages.

Funds from operations (“FFO”) is defined by The National Association of Real Estate Investment Trusts, Inc. (“NAREIT”) in an April, 2002 White Paper as net income (computed in accordance with generally accepted accounting principles (“GAAP”)) excluding gains (or losses) associated with sales of property plus real estate depreciation and amortization. We consider FFO to be a standard supplemental measure for equity real estate investment trusts (“REITs”) because it facilitates an understanding of the operating performance of our properties without giving effect to real estate depreciation and amortization, which historically assumes that the value of real estate assets diminishes predictably over time. Since real estate values have instead historically risen or fallen with market conditions, we believe that FFO more accurately provides investors an indication of our ability to incur and service debt, make capital expenditures and fund other needs. FFO is a non-GAAP measure.

Core Funds From Operations (“Core FFO”) is calculated by adjusting FFO for the following items (which we believe are not indicative of the performance of WRIT’s operating portfolio and affect the comparative measurement of WRIT’s operating performance over time): (1) gains or losses on extinguishment of debt, (2) costs related to the acquisition of properties and (3) property impairments, as appropriate. These items can vary greatly from period to period, depending upon the volume of our acquisition activity and debt retirements, among other factors. We believe that by excluding these items, Core FFO serves as a useful, supplementary measure of WRIT’s ability to incur and service debt, and distribute dividends to its shareholders. Core FFO is a non-GAAP and non-standardized measure, and may be calculated differently by other REITs.

Funds Available for Distribution (“FAD”) is calculated by subtracting from FFO (1) recurring expenditures, tenant improvements and leasing costs, that are capitalized and amortized and are necessary to maintain our properties and revenue stream and (2) straight line rents, then adding (3) non-real estate depreciation and amortization, (4) non-cash fair value interest expense and (5) amortization of restricted share compensation, then adding or subtracting the (6) amortization of lease intangibles , (7) real estate impairment and (8) non-cash gain/loss on extinguishment of debt, as appropriate. FAD is included herein, because we consider it to be a measure of a REIT’s ability to incur and service debt and to distribute dividends to its shareholders. FAD is a non-GAAP and non-standardized measure, and may be calculated differently by other REITs.

Core Funds Available for Distribution (“Core FAD”) is calculated by adjusting FAD for the following items (which we believe are not indicative of the performance of WRIT’s operating portfolio and affect the comparative measurement of WRIT’s operating performance over time): (1) gains or losses on extinguishment of debt, (2) costs related to the acquisition of properties and (3) property impairments, as appropriate. These items can vary greatly from period to period, depending upon the volume of our acquisition activity and debt retirements, among other factors. We believe that by excluding these items, Core FFO serves as a useful, supplementary measure of WRIT’s ability to incur and service debt, and distribute dividends to its shareholders. Core FFO is a non-GAAP and non-standardized measure, and may be calculated differently by other REITs.

The Industrial Portfolio consists of every industrial property, as well as two office properties, the Crescent and Albemarle Point. We are executing the sale in three phases. Phase I of the Industrial Portfolio sale consists of industrial properties (8880 Gorman Road, Dulles South IV, Fullerton Business Center, Hampton Overlook, Alban Business Center, Pickett Industrial Park, Northern Virginia Industrial Park I, 270 Technology Park, Fullerton Industrial Center, Sully Square, 9950 Business Parkway, Hampton South and 8900 Telegraph Road) and two office properties (Crescent and Albemarle Point). On October 3, 2011 we closed on Phase II of the Industrial Portfolio sale, consisting of Northern Virginia Industrial Park II. We expect to close on Phase III of the Industrial Portfolio sale on November 1, 2011, consisting of 6100 Columbia Park Road and Dulles Business Park.

Physical occupancy is calculated as occupied square footage as a percentage of total square footage as of the last day of that period.

Recurring capital expenditures represent non-accretive building improvements and leasing costs required to maintain current revenues. Recurring capital expenditures do not include acquisition capital that was taken into consideration when underwriting the purchase of a building or which are incurred to bring a building up to “operating standard.”

Rent increases on renewals and rollovers are calculated as the difference, weighted by square feet, of the net ABR due the first month after a term commencement date and the net ABR due the last month prior to the termination date of the former tenant’s term.

Same-store portfolio properties include all properties that were owned for the entirety of the current and prior year reporting periods.

Same-store portfolio net operating income (NOI) growth is the change in the NOI of the same-store portfolio properties from the prior reporting period to the current reporting period.