Washington REIT buys back $9.3 million 3.875% convertibles at discount

By Angela McDaniels

Tacoma, Wash., Feb. 18 - Washington Real Estate Investment Trust said it repurchased $8.1 million of its 3.875% convertible notes due 2026 during the fourth quarter at an average discounted price of 96.9 for approximately $7.8 million.

Subsequent to the quarter end, the company repurchased an additional $1.2 million of the convertibles at an average discounted price of 99.3, according to the company's earnings release for the quarter and year ended Dec. 31.

The issuer is a Rockville, Md.-based REIT that owns, operates and develops properties in the Washington and Baltimore region.

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