First Washington Realty is a privately held real estate investment and management firm that operates a national portfolio of open-air, grocery-anchored neighborhood and community shopping centers. Founded in 1983 and headquartered in Bethesda, Maryland, the company has transitioned through several ownership structures, operating initially as a private company, then as a publicly traded REIT on the New York Stock Exchange during the 1990s, before returning to private ownership in 2001. The firm operates as a vertically integrated platform, managing acquisitions, leasing, property management, and development in-house across regional offices in Orange County, San Diego, Sacramento, Portland, Kansas City, and its Maryland headquarters. The company's investment thesis centers on essential retail properties anchored by grocery stores and other necessity-based tenants in densely populated suburban markets across 22 states and the District of Columbia. First Washington executed a portfolio-transforming acquisition in April 2022, purchasing California-based Donahue Schriber Realty Group for approximately $3 billion from institutional investors advised by J.P. Morgan Global Alternatives. This transaction added 60 open-air retail properties and expanded the firm's California presence to nearly 50 shopping centers. The combined portfolio comprises approximately 150 properties totaling over 22 million square feet, serving roughly 3,600 tenants. California represents the firm's largest geographic concentration following the Donahue Schriber acquisition, with the Mid-Atlantic region—including Maryland, Virginia, and Washington, D.C.—forming the company's historical base. Recent acquisitions include a 163,000-square-foot Whole Foods Market-anchored center at The Station at Riverdale Park in Prince George's County, Maryland (March 2025), and Mission Park Marketplace in Santa Clara, California (February 2026). Major grocery anchors include Whole Foods Market, Raley's, and Lowes Foods, complemented by national tenants such as Starbucks, Gold's Gym, Jersey Mike's, and Burton's Grill. The company was co-founded by William J. Wolfe, who serves as Chairman, and Stuart D. Halpert, now Chairman Emeritus.