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

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

First Potomac’s strategy is to acquire buildings at below replacement cost, and then bring the occupancy levels up. It rapidly added tenants to its Corporate Campus purchase. The Oakton building is also empty, having been occupied by Lockheed Martin for more than 20 years before its lease expired in November 2009.

To reposition the property, First Potomac plans to renovate all eight stories and penthouse and then pursue LEED certification. It plans to spend an additional $5 million, or approximately $30 per square foot, on the renovations.