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FFO, profit rise for First Potomac Realty Trust

First Potomac Realty Trust, a Bethesda-based real estate investment trust that focuses on owning, operating, developing and redeveloping office and business park properties in greater Washington, reported increases in net income and funds from operations for the quarter ended June 30. Net income was $14.6 million, or 25 cents per diluted share, up from $10.9 million, or 20 cents, in the prior-year period. FFO jumped to $13.3 million from $11.1 million. Douglas J. Donatelli, chairman and CEO of First Potomac Realty Trust, said in a statement: “We delivered our 10th consecutive quarter of positive net absorption, achieved strong leasing results, bringing our leased percentage to 89.5 percent, closed on the acquisition of two high-quality, multi-story office buildings and continued our capital recycling strategy.”

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