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 22, 1998
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.
Recently Enacted Legislation. The IRS Restructuring and Reform Act of
1998, which was signed into law on July 22, 1998, reduces the period that a
non-corporate U.S. Holder must hold common stock in order to qualify for the
reduced 20% capital gain rate from more than 18 months to more than one year.
This change effectively eliminates the 28% capital gains rate, causing gains
from the sale, redemption, retirement or other taxable disposition of common
stock held by a non-corporate U.S. Holder for more than twelve months to be
taxed at the more favorable 20% rate that formerly was available only to
non-corporate U.S. Holders who held common stock for more than 18 months. This
change is generally effective for shares of common stock sold or exchanged on or
after January 1, 1998.
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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 28, 1998
