Washington Real Estate Investment Trust Appoints Paul S. Weinschenk, LEED APas Managing Director and Vice President - Head of Retail Division
ROCKVILLE, Md.--(BUSINESS WIRE)-- Washington Real Estate Investment Trust (WRIT) (NYS: WRE) announced the appointment of Paul S. Weinschenk, LEED AP, as Managing Director and Vice President - Head of Retail Division.
Mr. Weinschenk will oversee the growth and operations of WRIT's 16-center, 2.4 million square foot retail portfolio, all of which is located in the Washington, D.C. area. He brings nearly 20 years of Washington, D.C. retail market experience, including the last 16 at The Peterson Companies, a renowned Washington, D.C. developer and owner of Class A retail properties, where he was Vice President - Retail. While at The Peterson Companies, Mr. Weinschenk was involved in all aspects of retail real estate, including extensive asset management and development activities. He is an active member of the International Council of Shopping Centers (ICSC), currently serving as State Director for Maryland, Northern Virginia and the District of Columbia. Mr. Weinschenk holds a B.S. in Architecture from the University of Virginia and a Masters of Business Administration from The University of North Carolina.
"I am incredibly pleased to bring Paul Weinschenk to WRIT. From his experience at The Peterson Companies - a premier private retail real estate company in D.C. - Paul has a keen understanding of the Washington metro retail landscape, from both an investment and operational standpoint. Paul will be working closely with Steve Krupinski, our Director of Retail Leasing, to continue to improve and grow our retail portfolio. Between Paul and Steve, I'm excited about having this level of retail real estate leadership at WRIT - as it exemplifies our true DC sharpshooter focus for our investors," said George F. "Skip" McKenzie, President and Chief Executive Officer of WRIT.
WRIT is a self-administered, self-managed, equity real estate investment trust investing in income-producing properties in the greater Washington metro region. WRIT owns a diversified portfolio of 70 properties totaling approximately 9 million square feet of commercial space and 2,540 residential units, and land held for development. These 70 properties consist of 26 office properties, 17 medical office properties, 16 retail centers and 11 multifamily properties. WRIT shares are publicly traded on the New York Stock Exchange (NYS: WRE) .
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. Such risks, uncertainties and other factors include, but are not limited to, the potential for federal government budget reductions, changes in general and local economic and real estate market conditions, the timing and pricing of lease transactions, the effect of the current credit and financial market conditions, the availability and cost of capital, fluctuations in interest rates, tenants' financial conditions, levels of competition, the effect of government regulation, the impact of newly adopted accounting principles, and other risks and uncertainties detailed from time to time in our filings with the SEC, including our 2011 Form 10-K and third quarter 2012 Form 10-Q. We assume no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
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