Office Properties Income Trust Announces Closing of Sale of Common Shares of The RMR Group Inc.
July 01 2019 - 6:45PM
Business Wire
Net Proceeds of $105.0 Million Will be Used
to Repay Debt
Sale Price Represents a 283% Total Return on
Investment
Office Properties Income Trust (Nasdaq: OPI) today
announced it closed its sale of 2,801,060 of 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. OPI received $105.0 million in net proceeds after
underwriting fees and before other offering expenses that it will
use to repay debt.
OPI had a cost basis of $11.52 per Common Share, and with
previously received aggregate cash distributions of $4.13 per
share, OPI’s total return on investment since purchase on June 8,
2015 is approximately 283% before underwriting fees and other
offering expenses.
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 RMR, an alternative asset
management company that is headquartered in Newton, MA.
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version on businesswire.com: https://www.businesswire.com/news/home/20190701005899/en/
Olivia Snyder, Manager, Investor Relations (617) 219-1410
www.opireit.com
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