First Potomac Realty Trust Announces Tax Reporting Information For 2013 Common And Preferred Share Distributions

BETHESDA, Md., Jan. 23, 2014 /PRNewswire/ -- First Potomac Realty Trust (NYSE: FPO), a leading owner of office and business park properties in the greater Washington D.C. region, today announced the tax reporting information (Federal 1099) for the year 2013 distributions on its common and preferred shares. The information in this release is based on the preliminary results of the Company's tax filings and is subject to correction or adjustment when the filings are completed.

(Logo: http://photos.prnewswire.com/prnh/20130604/MM26388LOGO )

The income tax treatment for the 2013 distributions for First Potomac Realty Trust Common Shares CUSIP# 33610F109 traded on the NYSE under ticker symbol "FPO" is as follows:

The income tax treatment for the 2013 distributions for First Potomac Realty Trust Preferred Shares CUSIP# 33610F307 traded on the NYSE under ticker symbol "FPO-PA" is as follows:

The dividends classified above as ordinary dividends do not represent "qualified dividend income" and therefore are not eligible for reduced rates. The Company did not incur any foreign taxes. This information represents preliminary income allocations.

For shareholders subject to alternative minimum tax, your share of the 2013 alternative minimum tax adjustment items can be calculated by multiplying the ordinary taxable dividend amount in box 1a of the 2013 Form 1099-DIV by 4.2% consult your tax advisor for proper treatment of this adjustment item.

Forward Looking Statements

The forward-looking statements contained in this press release, including statements regarding the income tax treatment for the 2013 distributions, 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; the Company's ability to manage its current debt levels and repay or refinance its indebtedness upon maturity or other required payment dates; the Company's ability to maintain financial covenant compliance under its debt agreements; the Company's ability to maintain effective internal controls over financial reporting and disclosure controls and procedures; any impact of the informal inquiry initiated by the U.S. Securities and Exchange Commission (the "SEC"); the Company's ability to obtain debt and/or financing on attractive terms, or at all; 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.

About First Potomac Realty Trust

First Potomac Realty Trust is a self-administered, self-managed real estate investment trust that focuses on owning, operating, developing and redeveloping office and business park properties in the greater Washington, D.C. region. As of September 30, 2013, the Company's consolidated portfolio totaled approximately 9 million square feet. Based on annualized cash basis rent, the Company's portfolio consists of 51% office properties and 49% business park and industrial properties. A key element of First Potomac's overarching strategy is its dedication to sustainability. Over one  million square feet of First Potomac property is LEED Certified, with the potential for another 700,000 square feet in future development projects. Approximately half of the portfolio's multi-story office square footage is LEED or Energy Star Certified. FPO common shares (NYSE:FPO) and preferred shares (NYSE:FPO-PA) are publicly traded on the New York Stock Exchange. 

SOURCE First Potomac Realty Trust

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED