Transactions - SEPTEMBER 4, 2019

Office Properties Income Trust sells four properties for $223m

by Released

Office Properties Income Trust has sold four properties for an aggregate sales price of $223.2 million, excluding closing costs.

The four properties include:

  • A one-story, 182,630-square foot-office building located at 2115-2116 E. Randol Mill Road, Arlington, Texas.
  • A one-story, 94,800-square foot-office building located at 500 Canal View Boulevard, Rochester, N.Y.
  • A one-story, 502,300-square foot-vacant office building located at 501 Ridge Avenue, Hanover, Pa.
  • A two-building, six-story and 14-story, 618,000-square foot-office property located at 19100 Ridgewood Parkway, San Antonio, Texas.

The sales proceeds were used for general business purposes, including the repayment of the remaining balance on the company’s unsecured term loan, with additional proceeds used to pay down its revolving credit facility.

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