HRPT Properties Trust (NYSE:HRP) has granted the underwriters of a previous public offering an option to exercise the company’s overallotment option for the purchase of an additional 4,500,000 common shares. The sale of the additional shares will be used to help the company raise more net proceeds after the underwriting discount. The sale of the shares is valued at $31.2 million. Joint book-running managers for the offering were Morgan Stanley, Citi, and Wells Fargo Securities. Co-lead managers were Jefferies & Company, Morgan Keegan & Company, Inc., RBC Capital markets, and UBS Investment Bank.
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HRPT Properties Trust is a real estate investment trust (REIT). The Company’s primary business is the ownership and operation of real estate, including office and industrial buildings and leased industrial land. As of December 31, 2009, HRPT Properties Trust owned 518 properties including 332 office properties with 35.3 million square feet and 186 industrial and other properties with 31.5 million square feet of space. The Company’s 186 industrial and other properties include approximately 17.9 million square feet of leased industrial and commercial lands in Oahu, Hawaii. The Company’s managing trustees are also managing trustees of Government Properties Income Trust (GOV) and owners of Reit Management & Research LLC (RMR), which is the manager to HRPT Properties Trust and GOV. As of December 31, 2009, the Company acquired nine office properties with 2.2 million square feet and two industrial properties with 983,000 square feet.
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