The purchase cost includes the assumption of an existing debt inthe amount of $10.1 million. According to Montgomery Countyrecords, the property has a FY2005 assessed value of $12.7million.

Developed five years ago by a partnership involving AtlanticRealty and Foulger-Pratt Construction, Shady Grove II occupies a4.5-acre parcel on Physicians Lane near where Key West Ave. andDarnestown Rd. meet. Today, the four-story structure is leased tomaximum capacity, with Children's Hospital as the lead tenant. Forlocally based WRIT, the acquisition of Shady Grove II increases thesize of the REIT's medical office portfolio to six properties, andmarks its entrée into Maryland's medical office propertymarket.

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