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First Potomac to be acquired by Government Properties for $1.4B

Government Properties will acquire all outstanding shares of the REIT, including debt.

First Potomac Realty Trust is being acquired in a $1.4 billion deal announced Wednesday, several months after the Bethesda-based real estate investment trust had reportedly started exploring the option. The buyer is Newton, Massachusetts-based Government Properties Income Trust (NASDAQ: GOV), which will acquire all of the outstanding shares of First Potomac, including debt. First Potomac shareholders will receive $11.15 in cash per share at the close of the transaction.

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TAGS: Investment
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