Bethesda’s First Washington Realty Acquires Donahue Schriber Realty For an Estimated $3 billion
Bethesda-based First Washington Realty, a developer and owner of shopping centers around the country, announced that it has purchased a competing firm which controls retail centers on the west coast.
First Washington Realty bought Costa Mesa, CA –based Donahue Schriber Realty for an undisclosed amount but according to research at the Shopping Center Business publication, Donahue Schriber was valued at $3 billion in a Bloomberg report.
“We are thrilled to purchase these grocery-anchored centers and to hire terrific new colleagues, which, together with our existing portfolio and people, will create the leading private, open-air retail platform in the United States,” said Alex Nyhan, CEO of First Washington Realty. “Our combined portfolio will offer the highest quality real estate to retail tenants in the U.S. open air sector.”
Back in 2019 First Washington Realty went on a shopping spree acquiring five properties with more than 800,000 square feet in the Washington, D.C. area, the total is now 30 properties in the region. In Montgomery County the company controls six retail centers including Woodmoor Shopping Center in Silver Spring, MD ,Firstfield Shopping Center in Gaithersburg, MD and Cloppers Mill Village in Germantown.
First Washington Realty is based at 7200 Wisconsin Avenue in downtown Bethesda and now has controlling interest in more than 150 shopping centers valued at more than $8.9 billion.