Government Properties Income Trust Completes Acquisition of First Potomac Realty Trust
October 02 2017 - 4:05PM
Business Wire
Government Properties Income Trust (Nasdaq: GOV) today announced
that it has completed its acquisition of First Potomac Realty Trust
(NYSE: FPO), which includes 39 office properties (74 buildings)
with approximately 6.5 million square feet that were 92.6% occupied
as of June 30, 2017 (including two joint venture
properties which were 50% and 51% owned by FPO). This transaction
was approved by FPO’s shareholders on September 26, 2017. GOV
acquired FPO for a total value of approximately $1.4 billion. The
cash consideration paid to FPO shareholders
was $11.15 per FPO common share, or
approximately $652 million in aggregate.
About Government Properties Income Trust
GOV is a real estate investment trust, or REIT, which primarily
owns properties located throughout the United States that are
majority leased to the U.S. Government and other government tenants
and office properties in the metropolitan Washington, D.C. market
area that are leased to government and private sector tenants. GOV
is managed by the operating subsidiary of The RMR Group Inc.
(Nasdaq: RMR), 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: http://www.businesswire.com/news/home/20171002006447/en/
Government Properties Income TrustChristopher Ranjitkar,
617-219-1410Director, Investor Relations
Government Properties Income (NASDAQ:GOV)
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