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First Potomac Realty Trust shows 2Q loss

(designwork07 / Depositphotos.com)

(designwork07 / Depositphotos.com)

First Potomac Realty Trust, a Bethesda firm that owns, manages and develops office and business park properties in and around Washington, reported a loss in its second quarter results.

The company lost $2.7 million, or 5 cents per diluted share. Core funds from operations were $13.9 million, or 23 cents per diluted share. And the company’s leased percentage was flat from the year prior, at 94.4 percent.

 

First Potomac also reiterated its previous announcement that it would not be paying dividends except those necessary to remain a real estate investment trust. In June, the trust agreed to merge with Government Properties Income Trust, which would buy all outstanding shared of First Potomac for $11.15 when it closes, assuming that First Potomac’s shareholders approve the deal at a special meeting.

 


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