WASHINGTON, DC-REITs such as Washington Real Estate InvestmentTrust and First Potomac Realty appear to be entering a stepped upcycle of acquisitions and dispositions. Recent activity points tothat - as do the companies’ newly-released earningsreports.

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WRIT, for instance, in the past quarter purchased two buildingsat Quantico, VA; for $68 million and sold a building inRockville, MD; for $23.4 million . "Investmentopportunities in the Washington, DC market are steadily increasing,and we are pleased to be returning to the fundamental real estatebusiness of buying and selling buildings," said George "Skip"McKenzie, president and CEO of WRIT, as he released the company’searnings.

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WRIT, he says, has entered into a new strategy of recyclingcapital into more modern assets inside the Beltway, near majortransportation nodes, or with Base Realignment and Closure (BRAC)initiatives or other significant employment drivers in the greatermetro area.

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Then there is First Potomac Realty Trust, which has not made adefinitive declaration that it has embarked on a new strategy - butnonetheless is showing every sign of having done so. This pastquarter for the first time it acquired a core assetin the District: 500 First St., NW, for $67.8 million.It also nabbed an officebuilding in Oakton, VA, for $13.7 million.

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During the same quarter it also sold two properties inMaryland for net proceeds of $11.4 million.

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