Article Excerpt:
TWST: Please begin with a brief historical sketch of Washington Real Estate Investment Trust and a picture of the things you are doing at the present time.Mr. Cronin: I can sum it up by saying that for more than 40 years we have focused on investing in properties in the greater Washington, DC, metropolitan region, the fourth largest metropolitan economy in the United States. The Washington region has led all metro areas in equivalent growth for the last 20 years. In this strong, stable region, we acquire and manage a diverse range of income-producing properties. Through our diversified holdings, our goal is to protect our assets from single-property type value fluctuations, and continue to safely increase earnings and shareholder value. In addition, WRIT is one of only three or four REITs with an S&P rating of A-or better. WRIT has increased its dividends every year for the past 35 years.
TWST: What would you say are the principal drivers of the company's
continuing long-term success?
Mr. Cronin: The primary driver would be the fact that we do know this
region well. All of our Trustees and employees actually live and work
in this particular region so, in the vernacular, we know the territory.
Consequently this enables us to invest across a wide range of property
types throughout the entire region and move expeditiously to a
commitment due to our knowledge of the area. Not second to our regional
knowledge is that we live and work in what may be considered the best
real estate market in the country.
Tickers included in this excerpt: WRE
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