Annual report pursuant to Section 13 and 15(d)

Real Estate Investments - Acquistions (Details)

v2.4.0.8
Real Estate Investments - Acquistions (Details) (USD $)
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
note
Business Acquisition [Line Items]                      
Real Estate, Type of Property, Multifamily                 Multifamily    
Contract Purchase Price $ 2,102,227,000       $ 2,005,383,000       $ 2,102,227,000 $ 2,005,383,000 $ 385,400,000
Real estate rental revenue 66,721,000 65,828,000 65,915,000 [1],[2] 64,560,000 [1],[2] 64,660,000 [1],[2] 64,471,000 [1],[2] 63,073,000 [1],[2] 62,590,000 [1],[2] 263,024,000 254,794,000 234,733,000
Land                 8,568,000 17,750,000 90,896,000
Buildings                 37,930,000 26,893,000 219,613,000
Tenant origination costs 32,000       3,100,000       32,000 3,100,000 15,667,000
Leasing commissions/absorption costs 943,000       4,172,000       943,000 4,172,000 29,719,000
Net lease intangible assets 102,000       508,000       102,000 508,000 6,805,000
Net lease intangible liabilities (117,000)       (173,000)       (117,000) (173,000) (2,454,000)
Fair value of assumed mortgage 0       0       0 0 (78,500,000)
Furniture, fixtures & equipment 742,000       0       742,000 0 0
Total property purchase price                 48,200,000 52,250,000 281,746,000
Payments to Acquire Real Estate                 48,200,000 [3] 52,142,000 [3] 281,701,000 [3]
Number of Mortgage Notes Assumed                     2
Notes Assumed                     76,700,000
Credits received at settlement                   100,000 1,300,000
The Paramount [Member]
                     
Business Acquisition [Line Items]                      
Acquisition Date                 Oct. 01, 2013 [4]    
Fairgate at Ballston [Member]
                     
Business Acquisition [Line Items]                      
Acquisition Date                 Jun. 01, 2012    
1140 Connecticut Avenue [Member]
                     
Business Acquisition [Line Items]                      
Acquisition Date                 Jan. 01, 2011    
1227 25th Street [Member]
                     
Business Acquisition [Line Items]                      
Acquisition Date                 Mar. 01, 2011    
Six Fifty North Glebe Road [Member]
                     
Business Acquisition [Line Items]                      
Acquisition Date                 Jun. 01, 2011 [5]    
Cash paid for acquisitions                     11,800,000
Olney Village Center Member
                     
Business Acquisition [Line Items]                      
Acquisition Date                 Aug. 01, 2011 [4]    
Braddock Place Member
                     
Business Acquisition [Line Items]                      
Acquisition Date                 Sep. 01, 2011    
John Marshall II Member
                     
Business Acquisition [Line Items]                      
Acquisition Date                 Sep. 01, 2011    
1225 First Street [Member]
                     
Business Acquisition [Line Items]                      
Cash paid for acquisitions                     13,900,000
Property Acquired [Member]
                     
Business Acquisition [Line Items]                      
Rentable Square Feet                    142,000 1,092,000
Contract Purchase Price 48,200,000       52,250,000       48,200,000 52,250,000 385,400,000
Real estate rental revenue                 907,000 3,358,000 20,944,000
Net (loss) income                 (105,000) 325,000 484,000
Property Acquired [Member] | The Paramount [Member]
                     
Business Acquisition [Line Items]                      
Acquisition Date                 Oct. 01, 2013    
Contract Purchase Price 48,200,000               48,200,000    
Property Acquired [Member] | Fairgate at Ballston [Member]
                     
Business Acquisition [Line Items]                      
Acquisition Date                   Jun. 21, 2012  
Real Estate, Type of Property, Office                   Office  
Rentable Square Feet                   142,000  
Contract Purchase Price         52,250,000         52,250,000  
Property Acquired [Member] | 1140 Connecticut Avenue [Member]
                     
Business Acquisition [Line Items]                      
Acquisition Date                     Jan. 11, 2011
Real Estate, Type of Property, Office                     Office
Rentable Square Feet                     188,000
Contract Purchase Price                     80,250,000
Property Acquired [Member] | 1227 25th Street [Member]
                     
Business Acquisition [Line Items]                      
Acquisition Date                     Mar. 30, 2011
Real Estate, Type of Property, Office                     Office
Rentable Square Feet                     132,000
Contract Purchase Price                     47,000,000
Property Acquired [Member] | Six Fifty North Glebe Road [Member]
                     
Business Acquisition [Line Items]                      
Acquisition Date                     Jun. 15, 2011 [6]
Real Estate, Type of Property, Multifamily                     Mutifamily [6]
Contract Purchase Price                     11,800,000 [6]
Property Acquired [Member] | Olney Village Center Member
                     
Business Acquisition [Line Items]                      
Acquisition Date                     Aug. 30, 2011
Real Estate, Type of Property, Retail                     Retail
Rentable Square Feet                     198,000
Contract Purchase Price                     58,000,000
Property Acquired [Member] | Braddock Place Member
                     
Business Acquisition [Line Items]                      
Acquisition Date                     Sep. 13, 2011
Real Estate, Type of Property, Office                     Office
Rentable Square Feet                     351,000
Contract Purchase Price                     101,000,000
Property Acquired [Member] | John Marshall II Member
                     
Business Acquisition [Line Items]                      
Acquisition Date                     Sep. 15, 2011
Real Estate, Type of Property, Office                     Office
Rentable Square Feet                     223,000
Contract Purchase Price                     73,500,000
Property Acquired [Member] | 1225 First Street [Member]
                     
Business Acquisition [Line Items]                      
Acquisition Date                     Nov. 23, 2011 [6]
Real Estate, Type of Property, Multifamily                     Mutifamily [6]
Contract Purchase Price                     $ 13,850,000 [6]
Tenant Origination Costs Member
                     
Business Acquisition [Line Items]                      
Weighted remaining average life, in months                 110 months    
Leasing Commissions Absorption Costs Member
                     
Business Acquisition [Line Items]                      
Weighted remaining average life, in months                 22 months    
Net Lease Intangible Assets Member
                     
Business Acquisition [Line Items]                      
Weighted remaining average life, in months                 81 months    
Net Lease Intangible Liabilities Member
                     
Business Acquisition [Line Items]                      
Weighted remaining average life, in months                 88 months    
[1] With regard to per share calculations, the sum of the quarterly results may not equal full year results due to rounding.
[2] The prior quarter results have been restated to conform to the current quarter presentation. Specifically, results related to properties sold or held for sale have been reclassified into discontinued operations.
[3] See note 3 to the consolidated financial statements for the supplemental disclosure of non-cash investing and financing activities, including the assumption of mortgage debt in conjunction with some of our real estate acquisitions.
[4] At December 31, 2013, our properties were encumbered by non-recourse mortgage amounts as follows: $35.4 million on 3801 Connecticut Avenue, $16.5 million on Walker House, $29.1 million on Bethesda Hill, $34.9 million on The Kenmore, $98.1 million on 2445 M Street, $52.6 million on John Marshall II, and $20.7 million on Olney Village Center.
[5] As of December 31, 2013, WRIT had under development via joint venture arrangements, a mid-rise multifamily property in Arlington, Virginia (650 North Glebe) and a high-rise multifamily property in Alexandria, Virginia (1225 First Street). The value not yet placed into service of these development projects via joint venture arrangements at December 31, 2013 was $48.1 million. 650 North Glebe was encumbered by a construction loan with a $7.3 million balance at December 31, 2013.
[6] Land for development. 650 North Glebe Road is currently under development and development has been suspended at 1225 First Street.