Loading...
Loading...
First Potomac Realty Trust
FPO, a leading owner of office and
industrial properties in the greater Washington, D.C. region, today announced
the sale of its 95% interest in 1200 17^th Street, NW in downtown Washington,
D.C. for $43.7 million.
"This sale allows us to achieve our previously stated goals of monetizing an
investment after we have added value, significantly strengthening our balance
sheet, and decreasing risk in our portfolio” said Douglas J. Donatelli,
Chairman and CEO. "While we know 1200 17th Street will be a very successful
project, we could not pass up the opportunity to sell our position at a
significant profit. We wish our friends at Akridge great success as they move
forward with 1200 17^th Street and we hope to have the opportunity to team up
with them again in the future.”
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: NewsAsset Sales
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in