First Potomac Realty repays, terminates credit agreement after merger

By Wendy Van Sickle

Columbus, Ohio, Oct. 2 – First Potomac Realty Trust repaid and terminated its amended, restated and consolidated credit agreement dated Dec. 4, 2015 with KeyBank NA as administrative agent on Monday, according to an 8-K filing with the Securities and Exchange Commission.

First Potomac Realty Investment LP paid a 1% prepayment fee in connection with the early repayment of $100 million of certain term loans under the credit agreement.

The repayment and termination of the credit agreement was in connection with First Potomac’s acquisition by Government Properties Income Trust for $1.4 billion.

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. Government Properties is a Newton, Mass.-based real estate investment trust.

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