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WASHINGTON, DC-Washington Real Estate Investment Trust announced on Monday afternoon it has inked an agreement to sell its 1.5-million square foot medical office building portfolio for $500.75 million. The Washington Business Journal quickly unearthed the buyer — Harrison Street Capital in Chicago.

The deal, which only includes two separate office assets, both of which have a significant medical office tenancy, is rolling out in four separate transactions. The purchase price translates into $329 per square foot for the 17 assets and two suburban office buildings, which are located 6565 Arlington Blvd. and a land parcel in Alexandria, VA. The projected closing date for the first two transactions is Nov. 12, 2013 and the outside closing date for the second two transactions is Jan. 31, 2014.

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