WRIT to sell unit, CEO set to retire

Rockville-based Washington Real Estate Investment Trust said the company intends to sell its medical office building unit and its CEO will retire at the end of the year, the Washington Business Journal reported Tuesday.

WRIT said selling its portfolio of medical office buildings will simplify its business model and enable the company to focus on office, multifamily and retail properties. Medical office buildings account for 15 percent of WRIT's operating income.