First Potomac Realty Trust Reports Third Quarter 2008 Results

BETHESDA, Md., Oct 28, 2008 (BUSINESS WIRE) -- First Potomac Realty Trust (FPO:FPONews, chart, profile, moreLast: Delayed quote dataAdd to portfolioAnalyst Create alertInsiderDiscussFinancials Sponsored by:, , ) : Third Quarter Highlights: -- Enhances liquidity with refinancing of $72.1 million in debt and issuance of 2,875,000 common shares with net proceeds totaling $43.9 million. -- Executes 553,000 square feet of leases, consisting of 307,000 square feet of new leases and 246,000 square feet of renewal leases.

-- Reports FFO of $9.8 million, or $0.39 per diluted share, compared to $10.1 million, or $0.41 per diluted share, for the third quarter of 2007. -- Rental rates per square foot increase 10% for new leases and 5% for renewal leases on a GAAP basis. -- Completes two acquisitions totaling 380,000 square feet for $46.7 million. First Potomac Realty Trust (FPO:FPONews, chart, profile, moreLast: Delayed quote dataAdd to portfolioAnalyst Crea...
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