Board OF TRUSTEES

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Terry L. Stevens

Chairman of the Board of Trustees

Terry L. Stevens served as the Senior Vice President and Chief Financial Officer of Highwoods Properties, Inc. (“Highwoods”) located in Raleigh, North Carolina until 2014. Stevens joined Highwoods in December 2003. Highwoods is a publicly traded real estate investment trust that owns office, industrial and retail properties. Stevens has served as a trustee of the Company since our initial public offering. He is on the Audit Committee as First Potomac's Audit Committee financial expert.

Prior to joining Highwoods, Stevens held various executive positions, including Executive Vice President, Chief Financial Officer and Trustee, from 1994 to 2003 with Crown American Realty Trust, a publicly traded retail real estate company that merged with Pennsylvania Real Estate Investment Trust in November 2003. From 1990 to 1994, Stevens was Director of Financial Systems Development as well as Director of Internal Audit at AlliedSignal, Inc., a large multi-national manufacturer. He also spent 18 years with Price Waterhouse, including seven years as an audit partner. Stevens received a Bachelor of Science degree in physics from Juniata College and a Masters of Business Administration from The Wharton School.

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Robert H. Arnold

Robert H. Arnold has served since 1989 as the Co-Managing Director of R.H. Arnold & Company, LLC, a New York-based investment banking firm which specializes in providing advisory services to U.S. and international investment funds, and advising corporations on capital raising, mergers, acquisitions, divestitures and valuations.

He has served as a trustee since our initial public offering and was a director of First Potomac Realty Investment Trust, Inc. (our “Predecessor”) from 1997 until our initial public offering. Mr. Arnold has more than 30 years of financial experience including serving as the Treasurer of Merrill Lynch & Co. and the Chief Financial Officer of Merrill Lynch Capital Markets. Mr. Arnold serves on the boards of the WT Mutual Funds and Treasury Strategies, Inc. He received his Bachelor of Science, Master of Science and Ph.D. degrees from Northwestern University.

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Richard B. Chess

Richard B. Chess is an attorney and has served since 2007 as the managing partner of the Chess Law Firm, located in Richmond, Virginia. He has also served since 2007 as President of American Realty Capital Markets, a securities broker dealer focused on real estate and in 2010 became President-Elect of the Real Estate Securities Association. Chess serves as the Audit Committee Chair for First Potomac Realty Trust.

From 2005 to 2006, he was Of Counsel to the firm Hoctor Kaplan, PLC. Chess has served as a trustee since our initial public offering and was a director of our Predecessor from 1997 until our initial public offering. From 1987 to 1996, Chess was Director of Acquisitions for United Dominion Realty Trust, a publicly traded real estate investment trust that invests in apartment properties. He received his Bachelor of Science Degree from the University of Pittsburgh and a JD degree from the University of Richmond Law School.

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James P. Hoffmann

James P. Hoffmann is a former Partner and Senior Vice President of Wellington Management Company, an investment management company, where he served as the firm's senior global REIT analyst and portfolio manager, as well as on numerous internal management oversight committees, from 1997 to 2012. Prior to that, he held analyst positions at Everen Securities, LaSalle Street Capital Management and Eastdil Realty, Inc. since 1986, and gained extensive experience covering REITs and other real estate portfolios across all property sectors. He also served as Senior Investment Officer, Real Estate, at the Washington State Investment Board from 1992 to 1994. Mr. Hoffmann currently serves on the board of directors of HCP, Inc. (NYSE: HCP). He received a Bachelor of Science in Economics and Master of Science in Real Estate Appraisal & Investment Analysis from the University of Wisconsin.

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Alan G. Merten

Alan G. Merten served as the President of George Mason University from July 1996 to 2012. He is currently President Emeritus and a Distinguished Service Professor at George Mason University. Dr. Merten was Dean of the Johnson Graduate School of Management of Cornell University from 1989 to 1996, the Dean of the College of Business Administration at the University of Florida from 1986 to 1989, and Associate Dean for Executive Education and Computing Sciences at the University of Michigan from 1984 to 1986.

He has served on the Board of Trustees of mutual funds affiliated with Legg Mason Partners since 1990 and the Board of Directors of Cardinal Financial Corporation since 2006. He was a director of INOVA Health System from 1999 to 2007 and resumed serving on that Board in 2009. He also served on the Board of Xybernaut Corporation from 2004 to 2006. Dr. Merten holds a Bachelor of Science in mathematics and Ph.D. in computer science from the University of Wisconsin and a Master of Science in computer science from Stanford University.

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Robert Milkovich

Robert Milkovich serves as First Potomac Realty Trust's Chief Executive Officer and Chief Operating Officer. He joined First Potomac Realty Trust in June of 2014 as the Chief Operating Officer and was appointed CEO and member of the board in November 2015. Milkovich has over 20 years of leadership in the greater Washington, D.C. 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, L.P., an investment arm of the merchant banking division of Goldman Sachs, where he spearheaded the asset management of $2 billion for their merchant bank, 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, D.C., with primary responsibilities including overseeing asset management, development activities, portfolio investments and acquisition efforts.

 

Kati Penney

Ms. Penney is currently a Managing Director at Cross Country Consulting, a corporate advisory consulting firm, where she provides accounting and financial consulting services to private and public companies, as position she has held since December 2014. She has over 20 years of Big Four public accounting experience serving both private and public companies, executing financial statement audits and audits of internal controls over financial reporting; leading technical accounting matters and implementation of new accounting standards; advising on spin-offs, mergers, acquisitions and dispositions; initial public offerings; and securities offerings. Prior to joining Cross Country, Ms. Penney was an assurance partner at Ernst & Young and was a member of Ernest & Young's Global Real Estate, Hospitality & Construction sector team. She serves as an advisor and guest lecturer at the Catholic University School of Business & Economics.

Ms. Penney received her Bachelors of Science and Masters in Accounting from the Catholic University of America. She is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants. 

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Thomas E. Robinson

Thomas E. Robinson is currently a Senior Advisor to the real estate investment banking group at Stifel, Nicolaus & Company, a full-service brokerage and investment banking firm. Prior to that position, he served as the President and Chief Financial Officer of Storage USA, Inc., a self-storage real estate investment trust.

He is a former member of the Board of Governors of the National Association of Real Estate Investment Trusts (NAREIT) and in 2009 received its Industry Achievement Award for his wisdom, expertise, and service to the REIT industry. Robinson currently serves on the board of directors of Essex Property Trust (NYSE: ESS), as well as Tanger Factory Outlet Centers, Inc. (NYSE: SKT) . He is a former trustee of Centerpoint Properties Trust and BRE Properties, Inc. (NYSE: BRE), and a former director of Legg Mason Real Estate Investors, Inc. He holds a bachelor’s degree from Washington and Lee University, a juris doctor degree from Suffolk University Law School, and a master of law degree in taxation from the Georgetown University Law Center.