Washington REIT (WRE) Buys Maryland Shopping Center for $58M
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Price: $17.57 --0%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 4.9%
EPS Growth %: -100.0%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 4.9%
EPS Growth %: -100.0%
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Washington Real Estate Investment Trust (WRIT) (NYSE: WRE) has acquired a 199,000 square foot grocery-anchored shopping center in Olney, MD, for $58 million.
WRIT assumed a $22.6 million mortgage bearing interest at 6.37% per annum and maturing in 2023. WRIT 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 assumed a $22.6 million mortgage bearing interest at 6.37% per annum and maturing in 2023. WRIT 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.
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