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Ernest D. Jarvis Joins First Potomac Realty Trust as Senior Vice President

^{Published on 2011-03-25 04:40:53 - Market Wire}
 

WASHINGTON--([ BUSINESS WIRE ])--First Potomac Realty Trust (NYSE:FPO), a leading owner of office and industrial properties in the greater Washington, D.C. region, today announced that Ernest D. Jarvis has joined First Potomac Realty Trust as Senior Vice President. Mr. Jarvis will be responsible for the companya™s Washington, D.C. portfolio and will support First Potomac in its continued growth.

"We have been aggressively growing our presence in Washington through both acquisitions and development projects, and the addition of Ernie to our team will help us continue that growth."

"I am extremely pleased that Ernie is joining the First Potomac team. Ernie's experience, solid reputation and deep contacts will help us continue our commitment to the Washington, D.C. market and further strengthens our position as a leading owner of office space" stated Douglas J. Donatelli, Chairman and CEO of First Potomac Realty Trust. "We have been aggressively growing our presence in Washington through both acquisitions and development projects, and the addition of Ernie to our team will help us continue that growth.a

Mr. Jarvis is a fifth generation Washingtonian and a 15-year veteran of the real estate industry. Most recently Mr. Jarvis was managing director for CB Richard Ellisa™s Washington, D.C. office where he oversaw the officea™s business and operating functions. Heis keenly familiar with the Washington, D.C. commercial real estate market, has insight into local politics, and is part of the fabric of the Washington business community. Mr. Jarvisis regularly cited as a commercial real estate expert and has been listed among Washingtonian magazinea™s 100 People to Watch and Washington Lifea™s Men of Substance and Style.

aFor us at CBRE, Ernie Jarvis leaving is bittersweet. He is a talented professional with tremendous knowledge of the Washington, D.C. region. He will be greatly missed here, but at the same time we are excited for him and the opportunities at First Potomac, one of our very valued clients and partners. We expect to continue to work with Ernie, just in a different way,a said John Germano, Executive Managing Director for CBRE in the Washington, D.C. Metropolitan Region.

About First Potomac Realty Trust

Headquartered in Bethesda, Md., First Potomac Realty Trust is a self-administered, self-managed real estate investment trust that focuses on owning, operating, developing and redeveloping office and industrial properties in the greater Washington, D.C. region. The Company's portfolio totals approximately 13 million square feet. The Company's largest tenant is the U.S. Government, which along with government contractors, accounts for more than 20 percent of the Company's revenue. For more information, please visit [ www.first-potomac.com ].

Forward Looking Statements

The forward-looking statements contained in this press release are subject to various risks and uncertainties. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, there can be no assurance that its expectations will be achieved. Certain factors that could cause actual results to differ materially from the Companya™s expectations include the repayment in full of the loan, the ability of the Company to successfully enforce its remedies under the loan and related documents, changes in general or regional economic conditions; the Companya™s ability to timely lease or re-lease space at current or anticipated rents; changes in interest rates; changes in operating costs; the Companya™s ability to complete acquisitions on acceptable terms and successfully integrate such acquisitions into the Companya™s portfolio; the Companya™s ability to manage its current debt levels and repay or refinance its indebtedness upon maturity or other required payment dates; the Companya™s ability to obtain debt and/or financing on attractive terms, or at all; changes in the assumptions underlying the Companya™s expected rates of return on acquisitions and other risks detailed in the Companya™s Annual Report on Form 10-K and described from time to time in the Companya™s filings with the SEC. Many of these factors are beyond the Companya™s ability to control or predict. Forward-looking statements are not guarantees of performance. For forward-looking statements herein, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.