April 30, 2009 (FinancialWire) — Washington Real Estate Investment Trust (NYSE: WRE) said that it plans to offer four million common shares in a public offering. Wachovia Capital Markets (NYSE: WB), Citi (NYSE: C), and Raymond James & Associates are joint book-running managers.

The company plans to grant the underwriters a 30-day option to purchase an additional 600,000 common shares.

Washington plans to use the net proceeds to repay borrowings outstanding under its lines of credit and for general corporate purposes.

Rockville, Maryland-based Washington Real Estate Investment Trust is a real estate investment trust investing in income-producing properties in the greater Washington metro region.

The company’s portfolio includes 93 properties consisting of 28 office properties, 22 industrial and flex properties, 17 medical office properties, 14 retail centers, 12 multi-family properties and land for development.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.