The Washington Post

First Potomac Buys Offices in Annapolis

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Bethesda-based First Potomac Realty Trust said it made its first buy in the Annapolis market by purchasing a two-building office for $10.1 million from an undisclose­d seller.

Including the assumption of a $9.2 million first mortgage, the purchase price is $19.3 million.

The two offices that make up Annapolis Commerce Park East span 101,302 square feet and are fully occupied by four tenants, including the state of Maryland.

The acquisitio­n was funded by the issuance of 72,159 units in First Potomac’s operating partnershi­p valued at $24.45 per unit and $8.3 million in cash.

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