NEWTON, Mass.--(BUSINESS WIRE)--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.