Washington Real Estate Investment Trust has closed on two apartment complexes in Montgomery County, Md, in a $82 million sale. The deal is the final piece of a larger $461 million seven-property transaction. Totaling 482 units, the assets include the Point at Germantown, a 218-unit community in Germantown and The Point at Watkins Mill, a 210 unit complex in Gaithersburg. The REIT closed the initial tranche of 2,113 units in April, paying $379.1 million to acquire five multifamily assets in Northern Virginia. Including these new properties, Washington Real Estate Investment Trust now owns 6,381 apartment units and more than 5.8 million sqf of commercial space in the D.C. metropolitan area.
