“I believed from the very beginning that
diversifying our property types made the most sense.
That business model has served us very well.”DAVID M. OSNOS, ATTORNEY AND FORMER TRUSTEE
STRONG DIVIDENDS
Ronald Reagan took office in 1980, famously proclaiming “it is morning in America” to reassure Americans that the U.S. economy would improve. For WRIT shareholders, Reagan was right. WRIT’s stock split three times and Dun’s Reviews recognized WRIT for having the best record in the industry. After purchasing the GBS tower in Rockville, a major office building on Pennsylvania Avenue and two shopping centers, WRIT owned 21 properties, had $50.1 million in assets and increased shareholder equity 36%.
- 1980
-
Ronald Reagan elected President
Prime interest rates hit 21.5%;
Inflation hits 13.5%
-
Ronald Reagan,
U.S. President
1981–1989
-
1901 Pennsylvania Avenue
- 1981
-
Net income grew 30%
- 1982
-
WRIT recognized for best record in the industry by Dun’s Review in its Dividend Achievers Survey
-
I-66 completed
-
- 1984
-
Net income increases for the 19th consecutive year
Purchased Bradlee Shopping Center
-
- 1985
-
$75 million in assets
-
Human Genome Project is launched, spawning the growth of the biotech industry along the I-270 corridor in suburban Maryland
- 1986
-
Grand opening event for newly renovated Bradlee Shopping Center
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Bradlee Shopping Center
- 1987
-
Black Monday stock market crash
-
Diversified portfolio of 27 properties includes
business centers, shopping centers, and office
and apartment buildings. -
RECESSION OF 1987-89
- 1988
-
Total return gained in value by a multiple of 12
over the past 15 yearsShareholder return increased twelve-fold
over the last 15 years - 1989
-
Redeveloped
Concord Centre
with a 50% expansion -
Concord Centre
-
1989 Annual Report
timeline color key
- WRIT HISTORY
- ECONOMIC DEVELOPMENT IN WASHINGTON DC & METRO AREA
- NATIONAL ECONOMIC/POLITICAL MILESTONES/EVENTS