Office Properties Income Trust Announces the Sale of Two Properties
June 03 2019 - 8:00AM
Business Wire
Office Properties Income Trust (Nasdaq:OPI) today announced that
it has sold two properties for an aggregate sales price of $21.9
million, excluding closing costs. The two properties include:
- A six-story, 121,711 square foot office
building located at 138 Delaware Avenue in Buffalo, NY.
- A three-story, 287,037 square foot
vacant office building located at 111 Powdermill Road in Maynard,
MA.
The sales proceeds will be used for general corporate purposes,
including the repayment of amounts outstanding on the company’s
unsecured term loan.
Office Properties Income Trust is a real estate investment
trust, or REIT, focused on owning, operating and leasing buildings
primarily leased to single tenants and those with high credit
quality characteristics such as government entities. OPI is managed
by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an
alternative asset management company that is headquartered in
Newton, MA.
Warning Concerning
Forward-Looking Statements
This press release contains statements that constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and other securities
laws. Also, whenever OPI uses words such as “believe”, “expect”,
“anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and
negatives or derivatives of these or similar expressions, OPI is
making forward-looking statements. These forward-looking statements
are based upon OPI’s present intent, beliefs or expectations, but
forward-looking statements are not guaranteed to occur and
may not occur. Actual results may differ materially from
those contained in or implied by OPI’s forward-looking statements
as a result of various factors. Forward-looking statements involve
known and unknown risks, uncertainties and other factors, some of
which are beyond OPI's control.
The information contained in OPI’s filings with the SEC,
including under “Risk Factors” in OPI’s periodic reports, or
incorporated therein, identifies other important factors that could
cause OPI’s actual results to differ materially from those stated
in or implied by OPI’s forward-looking statements. OPI’s filings
with the SEC are available on the SEC's website at www.sec.gov.
You should not place undue reliance upon forward-looking
statements.
Except as required by law, OPI does not intend to update or
change any forward-looking statements as a result of new
information, future events or otherwise.
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/20190603005278/en/
Olivia Snyder, Manager, Investor Relations(617) 796-8320
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