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First Potomac Takes Enterprise Center for $30M

CHANTILLY, VA-Ownership of the four-structure flex park known as Enterprise Center is about to change hands with First Potomac Realty Trust's signing of a definitive agreement to buy the 189,100-sf property for $29.5 million. The deal will include the assumption of $17.9 million in debt.

By Barbra Murray | Updated on March 08, 2005

CHANTILLY, VA-Having signed a definitive agreement, First Potomac Realty Trust has just put itself in line to acquire the 189,100-sf Enterprise Center for $29.5 million from an unnamed seller. First Potomac will finance the purchase of the four-building property by assuming existing debt totaling $17.9 million and by tapping into its revolving line of credit.

The Bethesda, MD-based REIT entered into a new $75 million unsecured credit facility in December of last year. First Potomac’s acquisition is subject to closing conditions, as well as lender approval.

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