Hospitality Properties Trust Announces Closing of Sale of Common Shares of The RMR Group Inc.
July 01 2019 - 6:45PM
Business Wire
Net Proceeds of $93.9 Million Will be Used
to Repay Debt
Sale Price Represents a 283% Total Return on
Investment
Hospitality Properties Trust (Nasdaq: HPT) today announced it
closed its sale of 2,503,777 shares Class A Common Shares, or
Common Shares, of The RMR Group Inc. (Nasdaq: RMR) in an
underwritten public offering at a price to the public of $40.00 per
Common Share. HPT received $93.9 million in net proceeds after
underwriting fees and before other offering expenses that it will
use to repay debt.
HPT had a cost basis of $11.52 per Common Share, and with
previously received aggregate cash distributions of $4.13 per
share, HPT’s total return on investment since purchase on June 8,
2015 is approximately 283% before underwriting fees and other
offering expenses.
Hospitality Properties Trust is a real estate investment trust,
or REIT, which owns a diverse portfolio of hotels and travel
centers located in 45 states, Washington, DC, Puerto Rico and
Canada. HPT's properties are operated under long term management or
lease agreements. HPT is managed by the operating subsidiary of RMR
Group Inc., an alternative asset management company that is
headquartered in Newton, Massachusetts.
A Maryland Real Estate Investment Trust with
transferable shares of beneficial interest listed on the Nasdaq. No
shareholder, Trustee or officer is personally liable for any act or
obligation of the Trust.
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version on businesswire.com: https://www.businesswire.com/news/home/20190701005895/en/
Katie Strohacker, Senior Director, Investor Relations (617)
796-8232 www.hptreit.com
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