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  <TITLE> Columbia Equity Trust, Inc. (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	February 16, 2006
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  	Columbia Equity Trust, Inc.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Maryland
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  	001-32536
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  	20-1978579
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	1750 H Street, N.W., Suite 500, Washington, District of Columbia
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  	20006
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
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  	Registrant&#146;s telephone number, including area code:
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  	(202) 303-3080
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
  </P>
  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  	Item 1.01 Entry into a Material Definitive Agreement.
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  On February 16, 2006, subsidiaries of Columbia Equity Trust, Inc. (the "Company") entered into financing and guaranty agreements (the "Indebtedness") with Wachovia Bank, National Association (the "Lender") in the amount of $24,290,000 providing for a leasehold indemnity deed of trust on the Company&#x2019;s leasehold interest in the Park Plaza II office building.  Proceeds from the financing were used to repay amounts outstanding under the Company&#x2019;s $75 million revolving credit facility.<br><br>The Indebtedness matures in March 2016 and requires monthly payments of interest-only at a fixed interest rate of 5.53% through March 2012 and monthly payments of principal and interest from April 2012 through February 2016 based on a fixed interest rate of 5.53% and a 360 month amortization schedule.<br><br>The Indebtedness includes certain customary covenants, including without limitation, the maintenance of insurance, payment of taxes and providing financial reports. The Indebtedness also includes prepayment penalties and customary events of default, including failure to pay a sum due, and sale or transfer of property. Upon the occurrence of an event of default under the Indebtedness, the Lender may accelerate the obligation and declare amounts outstanding to be immediately due and payable and may foreclose on the leasehold interest.<br><br>A default under the Indebtedness could also trigger a default under the Company&#x2019;s revolving credit facility, which could accelerate amounts due under that agreement as well and result in foreclosures on certain of the Company&#x2019;s other properties.<br>
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  	Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
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  The information set forth in Item 1.01 of this Current Report on Form 8-K is hereby incorporated into this Item 2.03 by reference.
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  	Item 9.01 Financial Statements and Exhibits.
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  (c) Exhibits.<br><br>The following exhibits are filed herewith this Current Report on Form 8-K.<br><br><br>Exhibit No. Description<br>10.1 Fixed Rate Note payable to Wachovia Bank, National Association, dated February 16, 2006<br><br>10.2 Leasehold Indemnity Deed of Trust and Security Agreement, by Park Plaza II, L.L.C. as grantor to Alexander Title Agency Incorporated, as trustee, for the benefit of Wachovia Bank, National Association, as beneficiary, dated February 16, 2006<br><br>10.3 Indemnity Guaranty Agreement by Park Plaza II, L.L.C., dated February 16, 2006<br>
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	Columbia Equity Trust, Inc.
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  	&nbsp;&nbsp;
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  <I>
  	February 21, 2006
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  	By:
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  <I>
  	/s/ John A. Schissel
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  <I>
  	Name: John A. Schissel
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  <I>
  	Title: Chief Financial Officer
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	10.1
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  	&nbsp;
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  Fixed Rate Note payable to Wachovia Bank, National Association, dated February 16, 2006
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  	10.2
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  Leasehold Indemnity Deed of Trust and Security Agreement, by Park Plaza II, L.L.C. as grantor to Alexander Title Agency Incorporated, as trustee, for the benefit of Wachovia Bank, National Association, as beneficiary, dated February 16, 2006
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  	10.3
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  Indemnity Guaranty Agreement by Park Plaza II, L.L.C., dated February 16, 2006
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_10407.htm", "description": "LIVE FILING", "secsgml_size_bytes": 13167}]
metadata_filer: {"company-data": {"conformed-name": "Columbia Equity Trust, Inc.", "cik": "0001316710", "assigned-sic": "6531", "irs-number": "201978579", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32536", "film-number": "06634605"}, "business-address": {"street1": "1750 H STREET, N.W.", "street2": "SUITE 500", "city": "WASHINGTON", "state": "DC", "zip": "20006", "phone": "(202) 303-3060"}, "mail-address": {"street1": "1750 H STREET, N.W.", "street2": "SUITE 500", "city": "WASHINGTON", "state": "DC", "zip": "20006"}}
text: Columbia Equity Trust, Inc. (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  February 16, 2006
  Columbia Equity Trust, Inc.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Maryland
  001-32536
  20-1978579
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  1750 H Street, N.W., Suite 500, Washington, District of Columbia
  20006
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  (202) 303-3080
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  On February 16, 2006, subsidiaries of Columbia Equity Trust, Inc. (the "Company") entered into financing and guaranty agreements (the "Indebtedness") with Wachovia Bank, National Association (the "Lender") in the amount of $24,290,000 providing for a leasehold indemnity deed of trust on the Company's leasehold interest in the Park Plaza II office building.  Proceeds from the financing were used to repay amounts outstanding under the Company's $75 million revolving credit facility.
  The Indebtedness matures in March 2016 and requires monthly payments of interest-only at a fixed interest rate of 5.53% through March 2012 and monthly payments of principal and interest from April 2012 through February 2016 based on a fixed interest rate of 5.53% and a 360 month amortization schedule.
  The Indebtedness includes certain customary covenants, including without limitation, the maintenance of insurance, payment of taxes and providing financial reports. The Indebtedness also includes prepayment penalties and customary events of default, including failure to pay a sum due, and sale or transfer of property. Upon the occurrence of an event of default under the Indebtedness, the Lender may accelerate the obligation and declare amounts outstanding to be immediately due and payable and may foreclose on the leasehold interest.
  A default under the Indebtedness could also trigger a default under the Company's revolving credit facility, which could accelerate amounts due under that agreement as well and result in foreclosures on certain of the Company's other properties.
  Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
  The information set forth in Item 1.01 of this Current Report on Form 8-K is hereby incorporated into this Item 2.03 by reference.
  Item 9.01 Financial Statements and Exhibits.
  (c) Exhibits.
  The following exhibits are filed herewith this Current Report on Form 8-K.
  Exhibit No. Description
  10.1 Fixed Rate Note payable to Wachovia Bank, National Association, dated February 16, 2006
  10.2 Leasehold Indemnity Deed of Trust and Security Agreement, by Park Plaza II, L.L.C. as grantor to Alexander Title Agency Incorporated, as trustee, for the benefit of Wachovia Bank, National Association, as beneficiary, dated February 16, 2006
  10.3 Indemnity Guaranty Agreement by Park Plaza II, L.L.C., dated February 16, 2006
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  Columbia Equity Trust, Inc.
  February 21, 2006
  By:
  /s/ John A. Schissel
  Name: John A. Schissel
  Title: Chief Financial Officer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  10.1
  Fixed Rate Note payable to Wachovia Bank, National Association, dated February 16, 2006
  10.2
  Leasehold Indemnity Deed of Trust and Security Agreement, by Park Plaza II, L.L.C. as grantor to Alexander Title Agency Incorporated, as trustee, for the benefit of Wachovia Bank, National Association, as beneficiary, dated February 16, 2006
  10.3
  Indemnity Guaranty Agreement by Park Plaza II, L.L.C., dated February 16, 2006