McDaniel has served as WRIT's lead independent Board member since 2004. Until his retirement in January 2008, McDaniel was CEO of MedStar Health. According to WRIT CEO Skip McKenzie, McDaniel's medical expertise was instrumental in WRIT's medical office investments--"an effort that has led to WRIT owning 18 strategically-located medical office assets comprising what we believe is the best medical office portfolio in the Washington/Baltimore region," McKenzie says in a prepared statement.
One of WRIT's recent medical deals was a $19.9-million medical office building acquisition in Leesburg, VA last year. However it was in 2006 and 2007 when WRIT really loaded up on medical assets, acquiring the four-building Shady Grove/Plumtree Medical Portfolio, for $67 million, in Rockville; a class A medical office building at 2440 M St. in the District for $50 million; and the Woodholme Medical Office Building and Woodholme Center for $49 million, also in Rockville. It also acquired a small parcel of land near its Alexandria Professional Center, which it purchased in 2006 for $26.9 million.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
