EX-99.1
2
exhibit1.htm
EX-99.1
EX-99.1
PRESS RELEASE
Columbia Equity Trust, Inc. [Logo]
1750 H Street, NW
Suite 500
Washington, D.C. 20006
Tel (202) 303 - 3080
________________________________________________
Columbia Equity Trust, Inc. Announces $23.95 Million Acquisition
Washington, D.C., August 23, 2005 - Columbia Equity Trust, Inc. (NYSE:COE) announced today
that it acquired 14700 Lee Road, an approximate 85,000 square foot office building in Chantilly,
Virginia for a purchase price of $23.95 million.
14700 Lee Road is located within the Westfields corporate office park. The building is the
closest office property within the park to the National Reconnaissance Office, a major driver of
office space demand within the sub-market. 14700 Lee Road is 100% leased to General Dynamics
Systems Development and Integration Services, Inc., a subsidiary of General Dynamics Corporation.
With this acquisition, Columbia Equity Trust now maintains within the Westfields sub-market
interests in four office properties totaling over 650,000 square feet and additional land for
development which supports approximately 390,000 square feet of new office space.
The acquisition was funded 100% with proceeds raised through the Company's initial public
offering which closed on July 5, 2005. 14700 Lee Road is expected to generate a first-year return
of approximately 7.2% on the purchase price on a cash basis.
About Columbia Equity Trust, Inc.
Columbia is a self-advised, self-managed Maryland corporation focused on the acquisition,
development, renovation, repositioning, ownership, management and operation of commercial office
properties located predominantly in the Greater Washington, D.C. area. For additional information
please visit our web site at
http://www.columbiareit.com
.
Forward Looking Statements
Certain statements in this release that are not historical fact may constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks, uncertainties and other factors which
may cause the actual results of the Company to differ materially from historical results or from
any results expressed or implied by such forward-looking statements, including without limitation:
national and local economic, business, real estate and other market conditions; the competitive
environment in which the Company operates; the execution of its business plan; financing risks; the
Company's ability to maintain its status as a REIT for federal income tax purposes; acquisition and
development risks; potential environmental and other liabilities; and other factors affecting the
real estate industry generally or the office industry in particular. Although the Company believes
the expectations reflected in any forward-looking statements are based on reasonable assumptions,
it can give no assurance that its expectations will be attained. For a further discussion of these
and other factors that could impact the Company's future results, performance, achievements or
transactions, see the documents filed by the Company from time to time with the Securities and
Exchange Commission, and in particular the section titled, "Risk Factors" in the Company's
prospectus.
CONTACT
COLUMBIA EQUITY TRUST, INC.
JOHN SCHISSEL
CHIEF FINANCIAL OFFICER
202-303-3080

EX - 99 . 1 2 exhibit1 . htm EX - 99 . 1 EX - 99 . 1 PRESS RELEASE Columbia Equity Trust , Inc . [ Logo ] 1750 H Street , NW Suite 500 Washington , D . C . 20006 Tel ( 202 ) 303 - 3080 ________________________________________________ Columbia Equity Trust , Inc . Announces $ 23.95 Million Acquisition Washington , D . C . , August 23 , 2005 - Columbia Equity Trust , Inc . ( NYSE : COE ) announced today that it acquired 14700 Lee Road , an approximate 85,000 square foot office building in Chantilly , Virginia for a purchase price of $ 23.95 million . 14700 Lee Road is located within the Westfields corporate office park . The building is the closest office property within the park to the National Reconnaissance Office , a major driver of office space demand within the sub - market . 14700 Lee Road is 100 % leased to General Dynamics Systems Development and Integration Services , Inc . , a subsidiary of General Dynamics Corporation . With this acquisition , Columbia Equity Trust now maintains within the Westfields sub - market interests in four office properties totaling over 650,000 square feet and additional land for development which supports approximately 390,000 square feet of new office space . The acquisition was funded 100 % with proceeds raised through the Company 's initial public offering which closed on July 5 , 2005 . 14700 Lee Road is expected to generate a first - year return of approximately 7 . 2 % on the purchase price on a cash basis . About Columbia Equity Trust , Inc . Columbia is a self - advised , self - managed Maryland corporation focused on the acquisition , development , renovation , repositioning , ownership , management and operation of commercial office properties located predominantly in the Greater Washington , D . C . area . For additional information please visit our web site at http://www.columbiareit.com . Forward Looking Statements Certain statements in this release that are not historical fact may constitute forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 . Such forward - looking statements involve known and unknown risks , uncertainties and other factors which may cause the actual results of the Company to differ materially from historical results or from any results expressed or implied by such forward - looking statements , including without limitation : national and local economic , business , real estate and other market conditions ; the competitive environment in which the Company operates ; the execution of its business plan ; financing risks ; the Company 's ability to maintain its status as a REIT for federal income tax purposes ; acquisition and development risks ; potential environmental and other liabilities ; and other factors affecting the real estate industry generally or the office industry in particular . Although the Company believes the expectations reflected in any forward - looking statements are based on reasonable assumptions , it can give no assurance that its expectations will be attained . For a further discussion of these and other factors that could impact the Company 's future results , performance , achievements or transactions , see the documents filed by the Company from time to time with the Securities and Exchange Commission , and in particular the section titled , " Risk Factors " in the Company 's prospectus . CONTACT COLUMBIA EQUITY TRUST , INC . JOHN SCHISSEL CHIEF FINANCIAL OFFICER 202 - 303 - 3080