First Potomac Realty (FPO) Announces Exercise of Over-Allotment Option by Underwriters
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First Potomac Realty Trust (NYSE: FPO) today announced that the Company's underwriters have exercised their option to purchase an additional 375,000 common shares of beneficial interest in the Company to cover over-allotments. Including the over-allotment, the Company sold a total of 2,875,000 shares in its follow-on offering, raising net proceeds of approximately $44 million.
First Potomac Realty Trust, a real estate investment trust (REIT), engages in the ownership, development, redevelopment, and operation of industrial properties and business parks in the Washington, D.C. metropolitan area, and other markets in Maryland and Virginia.
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