Private company

First Potomac Realty Trust

Logo: First Potomac Realty Trust, CC BY-SA 4.0, via Wikimedia Commons3

Real estate investment trust

First Potomac Realty Trust was a real estate investment trust that invested in industrial properties and business parks in the suburbs of the Washington metropolitan area. In 2017, it was acquired by Government Properties Income Trust.2 Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

1997Founded1
  • Industryreal estate investment trust1
  • HeadquartersBethesda1

First Potomac Realty Trust was a real estate investment trust that invested in industrial properties and business parks in the suburbs of the Washington metropolitan area. In 2017, it was acquired by Government Properties Income Trust.2

The story

The company was founded in 1997 by Douglas J. Donatelli and Nicholas R. Smith.

In October 2003, the company became a public company via an initial public offering, raising $112.5 million.

In 2010, the company acquired 440 First St NW for $15.3 million and 1211 Connecticut Ave for $49.5 million.

In June 2013, the company sold the majority of its industrial portfolio to an affiliate of The Blackstone Group for $241.5 million.

In March 2015, the company sold its properties in Richmond, Virginia for $60 million.

In November 2015, Robert Milkovich was appointed chief executive officer of the company and founders Douglas J. Donatelli and Nicholas R. Smith resigned from the company.

In March 2016, the company sold 26 buildings in Northern Virginia for net proceeds of $90.5 million.

From Wikipedia’s article on First Potomac Realty Trust, shared under CC BY-SA 4.0.4

Acquisitions

In October 2017, the company was acquired by Government Properties Income Trust.

From Wikipedia’s article on First Potomac Realty Trust, shared under CC BY-SA 4.0.4

Timeline

  1. 1997Founded Founded1

Sources

The numbers on this page point here. Each one links to the record it came from.

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