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Founder & CEO of First Potomac Realty Trust (FPO) resigned amid strategic initiatives to sell assets worth $200 million

Nov 12, 2015

  • BASICS
  • M. Cap: $642 million
  • 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, DC region.
  • Internal appointment: On November 8, 2015, First Potomac Realty Trust appointed Robert Milkovich as President and CEO.
  • SIGNIFICANT SITUATION AT THE TIME OF APPOINTMENT
  • TRACK RECORD OF NEW CEO
  • Served as president of Spaulding & Slye, which manages $1.6 billion in AUM. He headed the investment committee, developed the company’s investment portfolio strategies, oversaw investment management and sourced new business opportunities.
  • Served as Regional Director of Archon Group, LP, an investment arm of the Merchant Banking Division of Goldman Sachs, where he spearheaded the asset management of $2 billion for their Merchant Banking Division, Special Situations Group and other parts of the firm, in addition to generating investment opportunities.
  • BIO OF NEW CEO

Robert Milkovich

Robert Milkovich joined First Potomac Realty Trust in June of 2014 as the Chief Operating Officer. Milkovich has more than 25 years of leadership in the greater Washington, DC region commercial real estate industry.

Prior to joining First Potomac Realty Trust, Milkovich served as President of Spaulding & Slye Investments, a comprehensive real estate services and investment company that is a wholly owned subsidiary of JLL. Milkovich managed Spaulding & Slye’s portfolio of assets, headed the investment committee, developed the company’s investment portfolio strategies, oversaw investment management and sourced new business opportunities.

Milkovich served as Regional Director of Archon Group, LP, an investment arm of the Merchant Banking Division of Goldman Sachs, where he spearheaded the asset management of $2 billion for their Merchant Banking Division, Special Situations Group and other parts of the firm, in addition to generating investment opportunities. Milkovich also previously served as a Market Managing Director for CarrAmerica Realty Corporation, a then publicly traded office REIT headquartered in Washington, DC, with primary responsibilities including overseeing asset management, development activities, portfolio investments and acquisition efforts.

Milkovich graduated with a BS in Business Administration from the University of Maryland. He currently serves as a Director and Investment Committee member for the University System of Maryland Foundation. Milkovich is on the Board of the Economic Club of Washington, DC. He is also a member of the Urban Land Institute’s Office Development Counsel and is a Past President of The Real Estate Group in Washington, DC.

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