WashREIT Announces First Quarter 2021 Results
WASHINGTON, April 28, 2021 (GLOBE NEWSWIRE) Washington Real Estate Investment Trust (“WashREIT” or the “Company”) (NYSE: WRE), a leading owner and operator of multifamily and commercial properties in the Washington, DC area, reported financial and operating results today for the quarter ended March 31, 2021:
Financial Results
NAREIT FFO
Core FFO was $0.34 per diluted share
First Quarter Operational Highlights
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) NOI declined 6.5% and cash NOI declined 6.0% compared to the first quarter of 2020, due to decreases in office and multifamily revenues of 7.8% and 3.8%, respectively, primarily due to the negative impact of COVID-19, as well as higher multifamily operating expenses and lower lease termination fees, partially offset by lower commercial operating expenses
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