First Potomac Realty Trust
FPO
New York Stock Exchange11.14
USD
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First Potomac Realty Trust
FPO
(New York Stock Exchange)
Recent
price
11.14
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- First Potomac Realty Trust (NYSE: FPO) is a self-administered, self-managed real estate investment trust focused on owning, operating, developing, and redeveloping office properties, business parks, and industrial properties primarily in the greater Washington, D.C. region, including segments in Washington, D.C., Maryland, Northern Virginia, and Southern Virginia. The company's portfolio features a mix of single-tenant and multi-tenant office buildings, as well as business parks combining office and industrial space, with historical compositions of approximately 66% office properties and 34% business parks. Founded in 1997 and headquartered in Bethesda, Maryland, at 7600 Wisconsin Avenue, First Potomac conducts operations through its operating partnership, First Potomac Realty Investment Limited Partnership, targeting government and private sector tenants in high-demand suburban markets. In a major strategic development, Government Properties Income Trust (now Office Properties Income Trust, Nasdaq: OPI) completed its $1.4 billion all-cash acquisition of First Potomac in October 2017, absorbing 39 properties totaling 6.5 million square feet at 92.6% occupancy into its portfolio, after which FPO shares ceased active trading. More recently, in 2024, Finmarc Management acquired a 26-building portfolio of approximately 950,000 square feet of commercial office, flex/office, and warehouse space in Northern Virginia from First Potomac Realty Trust for $96 million, signaling ongoing asset dispositions. The company continues to emphasize value-added management, sustainability initiatives like LEED certification, and repositioning of properties to enhance occupancy, rental rates, and profitability in its core markets.
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