First Potomac to repay secured term loans, revolver via share offering

By Tali David

Minneapolis, May 20 - First Potomac Realty Trust plans to contribute the proceeds of a common share offering to its operating partnership, which will repay amounts outstanding under its secured term loans and a portion of the amounts outstanding under its unsecured revolving credit facility, according to a 424B5 filed with the Securities and Exchange Commission.

The company, with the goal of repaying outstanding debt consistent with its strategic and capital plan, will also use proceeds for general corporate purposes.

First Potomac is a Bethesda, Md.-based real estate investment trust that focuses on industrial properties and business parks in the Washington, D.C., metropolitan area.

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