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CHANTILLY, VA-In a $46-million transaction, Washington Real Estate Investment Trust has snatched up a five-building office portfolio consisting of approximately 265,000 sf at the Dulles Business Park. WRIT’s acquisition deal includes the REIT’s commitment to assume $19.5 million in existing debt from two mortgages. Existing debt aside, WRIT paid for the purchase via its line of credit.

The properties, home to 12 tenants, boast a total average occupancy level of 99%. Among those that call the portfolio home are L-3 Communications and Centex Homes.

Located near the intersection of Route 28 and Route 50, the buildings were developed between 1999 and 2004. The L-3 building is the oldest of the structures at five-years-old, as well as the largest, with 78,800 sf. The Post, Davis and Gallagher buildings–all completed in 2001–feature 42,800, 42,800 and 42,600 sf, respectively. The Powers building was the last to go up. Built in 2004, it offers 55,800 sf.

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