By Sheri Kasprzak
Atlanta, March 29 - First Potomac Realty Trust said it is preparing to close a $44,997,500 direct placement.
The company plans to sell 2,050,000 shares to RREEF America LLC at $21.95 each.
The deal is expected to close March 31.
The shares are being sold under First Potomac's shelf registration.
Based in Bethesda, Md., First Potomac develops, acquires and operates industrial properties.
| Issuer: | First Potomac Realty Trust
|
| Issue: | Stock
|
| Amount: | $44,997,500
|
| Shares: | 2,050,000
|
| Price: | $21.95
|
| Warrants: | No
|
| Investors: | RREEF America LLC
|
| Announcement date: | March 29
|
| Settlement date: | March 31
|
| Stock price: | $22.17 at close March 29
|
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