First Potomac Realty Trust ( NYSE:FPO), a leading owner of office and industrial properties in the greater Washington, D.C. region, today announced the appointment of Andrew Blocher as Executive Vice President, Chief Financial Officer effective October 8, 2012. In his role, Mr. Blocher will oversee the accounting, capital markets, investor relations, corporate communications and information technology functions. Mr. Blocher will focus on further refining and executing First Potomac’s capital plan, and will work closely with investors, advisors and capital providers for the $2 billion REIT.
“We are excited to welcome Andy to our executive team,” said Douglas J. Donatelli, Chairman and Chief Executive Officer of First Potomac Realty Trust. “Andy is a great fit for First Potomac as his proven experience and strong reputation in the public REIT industry will serve us well as we execute our capital strategy, strengthen our balance sheet and pursue strategic growth opportunities.”
Mr. Blocher comes to First Potomac Realty Trust with over 20 years of finance and capital markets experience, including 15 years in the public REIT sector. He most recently served as Senior Vice President – Chief Financial Officer for Federal Realty Investment Trust ( NYSE:FRT) in Rockville, Maryland. Over his 12 year tenure at Federal Realty he developed and executed capital markets and investor relations strategies that dramatically improved the quality of Federal Realty’s balance sheet, and produced significant long-term total return outperformance, leading to amongst the strongest valuation metrics in the public REIT sector. In addition, Mr. Blocher provided effective oversight of Federal Realty’s accounting, human resources, information technology and corporate communications functions.
About First Potomac Realty TrustFirst 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. As of June 30, 2012, the company's portfolio totaled over 14 million square feet. The total occupied portfolio consists of 42% office, 36% business parks, and 22% industrial properties. A key element of First Potomac's overarching strategy is its dedication to sustainability. Nearly 1 million square feet of First Potomac property is LEED Certified, with another 1 million square feet currently in development. Approximately half of the portfolio's total square footage of multi-story office property is either LEED or Energy Star Certified and 82% of First Potomac’s Washington, DC portfolio is Energy Star Certified. FPO shares are publicly traded on the New York Stock Exchange (NYSE:FPO). For more information, please visit www.first-potomac.com.
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