An acquisition will result in the creation of one of the leading outdoor center operators with 150 properties.
An affiliate of First Washington Realty has acquired Donahue Schriber group. The combined company will operate as First Washington Realty, whose portfolio will now comprise 20 million sq. ft. of retail space serving some 3,600 tenants in 22 states and the District of Columbia. First Washington is based in Bethesda, Md.
“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.
The acquisition of California-based Donahue Schriber extends what was First Washington’s already considerable presence in the state to nearly 50 properties.
First Washington’s offices will expand to include the current DSRG offices in Orange County, San Diego, Portland, and Sacramento. The combined company will be led by the current First Washington executive management team. Financial terms regarding the transaction were not disclosed.
“Our founders Dan Donahue and Tom Schriber built a remarkable platform, and Pat Donahue enhanced DSRG’s commitment to excellent assets and strong tenant service under his many years of leadership,” commented Donahue Schriber CEO Michael Glimcher.