SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): November 1, 1996
FIRST WASHINGTON REALTY TRUST, INC.
(Exact name of registrant as specified in its Charter)
State of Maryland 0-25230 52-1879972
(State or other jurisdiction (Commission File No.) (I.R.S. Employer
of incorporation) Identification No.)
4350 East-West Highway
Suite 400
Bethesda, Maryland 20814
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (301) 907-7800
No Change
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On November 1, 1996, First Washington Realty Trust, Inc. ("First
Washington") filed a registration statement with the Securities and Exchange
Commission (SEC) for a proposed public offering of shares of its common stock.
All shares offered are to be issued and sold by First Washington. The managing
underwriters of the offering are Alex. Brown & Sons Incorporated, Friedman,
Billings, Ramsey & Co., Inc. and Tucker Anthony Incorporated. The estimated
maximum aggregate offering price for the shares of common stock offered is
approximately $37,000,000, including the underwriter's over-allotment option.
Net proceeds from the offering will be used to fund the acquisition of
additional neighborhood shopping centers with respect to which First Washington
or its affiliates has recently entered into agreements, the expansion of
existing centers, and the reduction of certain mortgage financing.
First Washington has entered into agreements to acquire six
neighborhood shopping centers. The centers have an aggregate purchase price of
approximately $53,000,000 and add approximately 626,000 gross leasable square
feet to the Company's existing portfolio. The centers are all located in the
Mid-Atlantic States and include: Newtown Square, a 138,000 square foot center
located in suburban Philadelphia, Pennsylvania; City Line Shopping Center, a
154,000 square foot shopping center also located in Philadelphia, Pennsylvania;
Shoppes of Graylyn, a 66,000 square foot center located in Wilmington, Delaware;
Northway Shopping Center, a 91,000 square foot shopping center located in
Millersville, Maryland; Kings Park Shopping Center, a 76,000 square foot center
located in Burke, Virginia, and Four Mile Fork Shopping Center, a 101,000 square
foot center located in Fredericksburg, Virginia. Each of the acquisitions is
subject to the satisfactory completion of standard due diligence. Each of the
centers is currently owned by a separate party, and all of the closings are
scheduled to be completed over the next 90 days.
A registration statement relating to the shares offered has been filed
with the SEC but has not yet become effective. These shares may not be sold nor
may offers to buy be accepted prior to the time the registration statement
becomes effective. This announcement shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of the shares in
any state in which such offer, solicitation, or sale would be lawful prior to
registration or qualification under the securities laws of any such state.
Copies of the prospectus relating to the offering will be available from Alex.
Brown & Sons Incorporated, 13 East Baltimore Street, Baltimore, Maryland 21202.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FIRST WASHINGTON REALTY TRUST, INC.
(Registrant)
By: /s/Jeffrey S. Distenfeld
Jeffrey S. Distenfeld
Senior Vice President, General Counsel
Date: November 5, 1996
