SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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):
July 25, 1997
First Washington Realty Trust, Inc.
(Exact Name of Registrant as
Specified in Charter)
Maryland 0-25230 52-1879972
(State or Other (Commissioner File (IRS Employer
Jurisdiction of Number) Identification No.)
Incorporation)
4350 East-West Highway
Suite 400
Bethesda, MD 20814
(Address of Principal
Executive Offices)
(301) 907-7800
(Registrant's telephone
number, including area code)
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ITEM 5. Other Events.
First Washington Realty Trust, Inc. (the "Company") has entered into
agreements to acquire six additional supermarket-anchored neighborhood shopping
centers for an aggregate price of approximately $67 million. The six properties
contain approximately 760,000 square feet of gross leasable area and will bring
to 47 the number of properties owned by the Company.
All of the properties are located in the Chicago metropolitan area and
include: McHenry Commons, a 101,000 square foot center located in McHenry;
Mallard Creek, a 144,000 square foot center located in Round Lake Beach; The
Oaks, a 138,000 square foot center located in Des Plaines; Riverside Square and
River's Edge, a 170,000 square foot combined center located in Chicago; Pheasant
Hill Plaza, a 110,000 square foot center located in Bolingbrook; and Stonebrook
Plaza, a 96,000 square foot center located in Merrionette Park.
Four of the centers are anchored by Dominick's supermarkets and two of the
centers are anchored by Omni supermarkets. Both food store formats are owned and
operated by Dominick's Supermarkets, Inc., the second largest supermarket
operator in the greater Chicago metropolitan area. Other representative tenants
at the centers include Blockbuster Video, Radio Shack, Trak Auto, Crown Books,
General Nutrition Centers, Payless Shoes, Dunkin' Donuts, Subway Sandwich Shops,
McDonald's, Sears Optical, Fantastic Sams, Sally Beauty, Dollar Bills and other
traditional neighborhood shopping center retailers.
The sellers are members of the family of the late Dominick DiMatteo, the
founder of the Dominick's food store chain. The price for the properties is to
be paid in a combination of cash, the assumption of existing mortgage financing,
and the issuance of equity units in First Washington Realty Limited Partnership.
Closing is expected to take place in early September.
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SIGNATURES
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.
By: /s/ Jeffrey S. Distenfeld
Senior Vice President and General Counsel
Date: July 30, 1997
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