For Patrick Kelly, vice president of acquisitions and portfolio management at Bethesda-based First Potomac Realty Trust, much of his recent success can be attributed to communication and acting quickly.
“From an acquisition and disposition stand point I’m also in touch with our asset management group so we know what’s working and what isn’t so we can then shift strategies quickly,” Kelly said. “If we see a market is not doing well we dispose of properties there, if we see a market is doing very well we know that we want to acquire more properties.”
In his six years with the company, Kelly has completed $1.6 billion in transactions including $870 million for 24 transactions in an 18 month span. He also has overseen $500 million in internal dispositions, including the company’s decision to exit the industrial market and sell off its 4.3 million-square-foot portfolio in June.
As a result of his success, Kelly was named to Real Estate Forum’s 50 under 40 list earlier this month.
“It’s a pretty big honor, I think. They said they had over 500 entries from across the country. It’s a real testament to what we’ve been doing here at First Potomac and really kind of pushing the company forward,” he said.