WASHINGTON, DC-First Potomac Realty Trust has expanded itsunsecured revolving credit facility from $175 million to $225million with the addition of two new lenders, US Bank and TDBank. The additional credit will add to its already strongpurchasing power.

Earlier this year First Potomac tapped the equity markets witha public offering of five million shares, raising roughly $75million. In an earlier interview with GlobeSt.com, CEO DougDonatelli said that it planned on using theproceeds to pay down its line of credit and for acquisitions.The REIT recently nabbed an officebuilding in Oakton, VA for $13.8 million. In December 2009, itacquiredCorporate Campus at Ashburn Center.

First Potomac’s strategy is to acquire buildings at belowreplacement cost, and then bring the occupancy levels up. Itrapidly added tenants to its Corporate Campus purchase. TheOakton building is also empty, having been occupied by LockheedMartin for more than 20 years before its lease expired inNovember 2009.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.