Among the company's first quarter results: a 20.4% increase in base rent on new and renewed leases, 13.5% increase in total diluted FFO to $10.1 million and an 8.7% boost in adjusted FFO. During the same time frame, the firm also bought five properties at BWI airport in a joint venture, completed a 78,640 sf development at Columbia Gateway Business Park that is 87% leased and raised $12 million in equity by issuing preferred shares.
The self-managed REIT owns 89 Mid-Atlantic suburban office properties with 6.9 million sf of rentable space.
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