First Potomac Realty Trust (NYSE:FPO), a regional leader in the ownership, development and management of business parks and industrial properties, is pleased to announce that Ken Avalos has joined the Company as Director of Finance and Capital Markets.
Prior to joining First Potomac, Ken was a Senior Vice President at Integrated Corporate Relations, where he covered the real estate and healthcare sectors. More significantly, Mr. Avalos spent ten years as an equity analyst at Raymond James, covering numerous industries including real estate, technology, and healthcare. From 2002 to 2008, he was a Senior Analyst and Vice President in the highly regarded Raymond James Real Estate Research group, heading a team of three and covering over 20 REITs. Prior to working at Raymond James, Ken worked in lending at Wells Fargo in San Diego. He earned his M.B.A. from New York University with an emphasis in finance and international business and holds a bachelor’s degree from Boston College.
Barry Bass, Chief Financial Officer at First Potomac, stated, “Having worked closely with Ken in the past, we are excited to have him bring his capital markets and finance background to First Potomac. We look forward to his contributions as we continue to navigate the challenges of the economy and endeavor to enhance our business and maximize shareholder returns.”
Mr. Avalos replaces Jeff Harris, who recently left the Company to become a principal of a non-real estate-related venture.
About First Potomac Realty Trust
First Potomac Realty Trust is a self-administered, self-managed real estate investment trust that focuses on owning, developing, redeveloping and operating industrial properties and business parks in the Washington, D.C. metropolitan area and other major markets in Virginia and Maryland. The Company’s portfolio totals approximately 12 million square feet. The Company's largest tenant is the U.S. Government, which along with government contractors, accounts for approximately 20% of the Company’s revenue.
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 Company’s expectations include changes in general or regional economic conditions; the Company’s ability to timely lease or re-lease space at current or anticipated rents; changes in interest rates; changes in operating costs; the Company’s ability to complete acquisitions on acceptable terms; and other risks detailed in the Company’s Annual Report on Form 10-K and described from time to time in the Company’s filings with the SEC. Many of these factors are beyond the Company’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.
