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First Potomac rises in FFO

First Potomac Realty Trust, of Bethesda, which focuses on office and business park properties in the Washington region, reported an 18 percent increase in funds from operations for the fourth quarter and a 7.5 increase for the year. For the quarter ended Dec. 31, First Potomac posted FFO of $16.4 million, or 27 cents per diluted share, compared with $12.3 million and 23 cents for the prior-year period. For 2014, First Potomac’s FFO was $55.9 million, or 92 cents per diluted share, compared with $52 million and 90 cents for 2013. “Despite the difficult operating environment in the D.C. metro area, our portfolio is now over 91 percent leased, with 12 consecutive quarters of positive net absorption and with strong occupancy growth driving improvements in same-property net operating income,” Douglas J. Donatelli, chairman and CEO, said in a statement.