Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Fisch Clinton D
   2. Issuer Name and Ticker or Trading Symbol
Columbia Equity Trust, Inc. [COE] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Senior Vice President
(Last)
(First)
(Middle)
1750 H STREET, N.W., SUITE 500		 3. Date of Earliest Transaction (Month/Day/Year)
07/05/2005
(Street)

WASHINGTON, DC 20006		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
LTIP Units $ 0 (1) 07/05/2005   A   21,667     (2)   (3) Units 21,667 $ 0 21,667 D  
Units $ 0 (4) 07/05/2005   J(5)   2,181     (4)   (6) Common Stock 2,181 $ 0 23,848 D  
Units $ 0 (4) 07/05/2005   J(7)   42,427 (8)     (4)   (6) Common Stock 42,427 $ 0 42,427 I Held by Carr Capital Corporation
Units $ 0 (4) 07/05/2005   J(9)   53,511 (10)     (4)   (6) Common Stock 53,511 $ 0 95,938 I Held by Carr Capital Real Estate Investments, LLC

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Fisch Clinton D
1750 H STREET, N.W.
SUITE 500
WASHINGTON, DC 20006		       Senior Vice President  

Signatures

 /s/ John M. Novack Attorney-in-Fact   07/07/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) LTIP Units may be converted into units of limited partnership interest ("Units") of Columbia Equity, LP, of which the issuer is the general partner, on a one-for-one basis.
(2) The LTIP Units are exercisable in five equal annual installments beginning on the first anniversary of the date of grant.
(3) The LTIP Units will expire upon dissolution or the expiration of the term of Columbia Equity, LP, whichever occurs first.
(4) Units may be redeemed for shares of the issuer's Common Stock on a one-for-one basis or, at the election of the issuer, cash equal to the fair market value of such shares, beginning July 5, 2006.
(5) The Units were acquired by the reporting person and his spouse as tenants-by-the-entirety in exchange for their ownership interests in an entity that owns the Sherwood Plaza property.
(6) Units will expire upon dissolution or expiration of the term of Columbia Equity, LP, whichever occurs first.
(7) The Units were acquired by Carr Capital Corporation ("CCC") in exchange for CCC's contribution of asset and property management agreements to Columbia Equity, LP.
(8) Amount of securities beneficially owned represents reporting person's pro rata ownership interest in CCC. The reporting person disclaims beneficial ownership of the remaining balance of Units held by CCC.
(9) The Units were acquired by Carr Capital Real Estate Investments, LLC ("CCREI") in exchange for CCREI's contribution of ownership interests in various entities that own certain commercial office properties.
(10) CCREI is wholly-owned by CCC. Amount of securities beneficially owned represents reporting person's pro rata ownership interest in CCC. Reporting person disclaims beneficial ownership of remaining balance of Units held by CCC.

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