Equity Commonwealth Completes $416.9 Million Midwest Portfolio Sale

CHICAGO--()--Equity Commonwealth (NYSE: EQC) today announced that it completed the sale of a four-property office portfolio totaling 3.1 million square feet for a gross sale price of $416.9 million. Proceeds from the sale were $376.2 million net of credits for rent abatements and contractual lease costs.

The assets sold include 111 Monument Circle and 101-115 West Washington Street in Indianapolis, Indiana; North Point Office Complex in Cleveland, Ohio; and 100 East Wisconsin in Milwaukee, Wisconsin. As of June 30, 2016, the sold portfolio was 86.5% leased.

Earlier in the month, the company also completed the sale of a 121,901 square foot office property, 8701 North Mopac in Austin, Texas, for a gross sale price of $21.5 million. As of June 30, 2016, the property was 79.1% leased.

Year-to-date, the company has sold $1.1 billion of assets, inclusive of 27 properties and 7.2 million square feet.

About Equity Commonwealth

Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estate investment trust (REIT) with commercial office properties throughout the United States. EQC’s portfolio is comprised of 38 properties and 16.9 million square feet.

Contacts

Equity Commonwealth
Sarah Byrnes, Investor Relations
(312) 646-2801
www.eqcre.com

Release Summary

Equity Commonwealth completes $416.9 million portfolio sale.

Contacts

Equity Commonwealth
Sarah Byrnes, Investor Relations
(312) 646-2801
www.eqcre.com