Washington REIT announces 2013 strategic initiatives

WRIT is exploring a 2013 disposition of its Medical Office Division. The disposition will simplify WRIT’s business model to focus on its core office, multifamily and retail sectors. Upon the completion of the transaction, WRIT’s business will consist entirely of properties where people work, live and shop in one of the strongest real estate markets in the world. The Medical Office Division totals approximately 1.3 million square feet and 17 properties and, as of third quarter 2012, contributed 15% of WRIT’s total net operating income.