WASHINGTON, DC—Washington Real Estate InvestmentTrust has acquired 1775 Eye St., NW, for$104.5 million. The 185,000-square foot CBD office building is thethird asset the REIT has purchased in downtown Washington thisyear. Year to date, WRIT has snapped up $256.5 million in officeassets here.

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In a prepared statement, Paul T. McDermott, president and CEO ofWRIT called the transaction a "value-add" trade. Its plans for the62% leased property include "effective leasing of this propertyabove its current level."

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The 11-story building was originally built in 1964; it iscurrently undergoing its second renovation including a new lobby,common areas, and fitness facility.

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In March WRIT acquired The Army Navy Club building on FarragutSquare here for $79 million.

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In February it picked up Yale West, a multifamily property in MountVernon Triangle for $73 million.

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