First Potomac buying spree nears $750 million

Last summer Douglas J. Donatelli, chairman and chief executive of First Potomac Realty Trust, said that the company needed to double its real estate holdings in the next three to five years, a bold suggestion given that the company already owned 12.5 million square feet worth about $1.2 billion.

Just more than a year later, Donatelli is halfway there.

First Potomac, a real estate investment trust based in Bethesda, has made 23 investments totaling $746.6 million since 2009, when it returned to the market after a $91 million stock offering by purchasing Cloverleaf Center, a 174,000-square-foot office building in Germantown.

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Zachary A. Goldfarb 08 Aug, 2011

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Source: http://feeds.washingtonpost.com/click.phdo?i=114b0b85cf098793781bcd7eef9b7487
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