First Potomac Realty Trust Announces Public Offering of Common Shares


First Potomac Realty Trust Announces Public Offering of Common Shares

BETHESDA, Md.--(BUSINESS WIRE)-- First Potomac Realty Trust (the "Company") (NYS: FPO) today announced that it had commenced an underwritten public offering of 6,000,000 common shares of beneficial interest. The Company intends to grant the underwriters a 30-day option to purchase up to an additional 900,000 common shares at the public offering price, less the underwriting discount.

The Company intends to use the net proceeds of the offering to repay outstanding indebtedness consistent with its strategic and capital plan, including the amounts outstanding under its secured term loans and a portion of the amounts outstanding under its unsecured revolving credit facility, and for general corporate purposes.

KeyBanc Capital Markets and Wells Fargo Securities are the joint book-running managers for the offering.

An automatic shelf registration statement relating to these securities has been filed with the Securities and Exchange Commission. This offering is being made pursuant to a prospectus supplement to the Company's base prospectus, dated February 14, 2013, filed as part of the Company's automatic shelf registration statement relating to these securities.

Copies of the preliminary prospectus supplement, final prospectus supplement (when available) and the related base prospectus may be obtained by contacting: KeyBanc Capital Markets, Attention: Equity Syndicate Department, 127 Public Square, 4th Floor, Cleveland, Ohio 44114 or by telephone at (800) 859-1783; or Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, or by calling (800) 326-5897 or e-mail a request to

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About First Potomac Realty Trust

First Potomac Realty Trust is a self-administered, self-managed real estate investment trust that focuses on owning, operating, developing and redeveloping office, business park, and industrial properties in the greater Washington, D.C. region. As of March 31, 2013, the Company's consolidated portfolio totaled approximately 14 million square feet. Based on annualized cash basis rent, the Company's portfolio consists of 43% office properties, 34% business parks and 23% industrial properties. A key element of First Potomac's overarching strategy is its dedication to sustainability. Nearly a million square feet of First Potomac property is LEED Certified, with the potential for another one million square feet in future development projects. Approximately half of the portfolio's total square footage of multi-story office property is either LEED or Energy Star Certified and 81% of First Potomac's Washington, DC portfolio is Energy Star Certified.

Forward Looking Statements

The forward-looking statements contained in this press release are subject to various risks and uncertainties. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, there can be no assurance that its expectations will be achieved. Certain factors that could cause actual results to differ materially from the Company's expectations include changes in general or regional economic conditions; the Company's ability to timely lease or re-lease space at current or anticipated rents; changes in interest rates; changes in operating costs; the Company's ability to complete acquisitions and, if applicable, dispositions on acceptable terms; the Company's ability to manage its current debt levels and repay or refinance its indebtedness upon maturity or other required payment dates; the Company's ability to maintain financial covenant compliance under its debt agreements; the Company's ability to maintain effective internal controls over financial reporting and disclosure controls and procedures; the impact of the recent internal investigation, including any remedial actions and enhancement measures implemented in response to the internal investigation; any impact of the informal inquiry initiated by the Securities and Exchange Commission; the Company's ability to obtain debt and/or financing on attractive terms, or at all; changes in the assumptions underlying the Company's earnings and Core Funds From Operations guidance and other risks detailed in the Company's Annual Report on Form 10-K and described from time to time in the Company's filings with the Securities and Exchange Commission. Many of these factors are beyond the Company's ability to control or predict. Forward-looking statements are not guarantees of performance. For forward-looking statements herein, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

First Potomac Realty Trust
Jaime N. Marcus, 301-986-9200
Manager, Investor Relations

KEYWORDS: United States North America District of Columbia Maryland


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