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|Washington Mutual Purchases Royal Ridge Building|
IRVING, Texas, Jun 07, 2005 (BUSINESS WIRE) -- Washington Mutual (NYSE:WM), one of the leading retailers of financial services, today announced it has exercised an option to purchase the three-story, 123,750-square foot Royal Ridge office building for an undisclosed amount.
Located at 3929 West John Carpenter Freeway in Irving, Tex., the building houses the company's National Operations Center (NOC), which currently handles portfolio management operations and services WaMu's Multi-family Lending and Commercial Real Estate loans.
The purchase of this property fits into the company's expansion strategy in Texas, including its recently announced plans to create as many as 4,200 jobs in the state over the next seven years. The purchase agreement includes the Royal Ridge office building, and the bank is investigating additional expansion opportunities of up to 1 million square feet on the property. The transaction is expected to close before the end of June.
About Washington Mutual
With a history dating back to 1889, Washington Mutual is a national financial services company that provides a diversified line of products and services to consumers and small- to mid-sized businesses. At March 31, 2005, Washington Mutual and its subsidiaries had assets of $319.70 billion. Washington Mutual currently operates more than 2,500 consumer banking, mortgage lending, commercial banking, consumer finance and financial services offices throughout the nation. For more information, visit Washington Mutual's web site at www.wamu.com.
SOURCE: Washington Mutual
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