Washington Real Estate prices public offering

Originally, the company expected to offer 2.3 million shares. Washington Real Estate, which plans to use proceeds from the offering to repay debt, currently has about 46.7 million common shares outstanding.

Raymond James & Assoc. and JPMorgan Securities are lead managers of the deal. Robert W. Baird & Co., Credit Suisse Securities, Wachovia Capital Markets and RBC Capital Markets are also underwriting the offering. Washington Real Estate has granted the underwriters the option to buy an additional 390,000 shares to cover any overallotments.

Shares dropped 87 cents, or 2.5 percent, to $34.45 in morning trading. Shares have traded between $25.79 and $38.15 in the past 12 months.