Government Properties Income Trust Completes Acquisition of First Potomac Realty Trust

10/02/2017

NEWTON, Mass.--(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.

Source: Government Properties Income Trust

Government Properties Income Trust

Christopher Ranjitkar, 617-219-1410

Director, Investor Relations

  • 2017 Green Lease Leader
  • 2016 Green Lease Leader
  • 2015 Green Lease Leader
  • 2014 Green Lease Leader
  • U.S Green Building Council
  • Energy Star Partner
Cautionary Language

The information appearing in GOV’s website includes statements which constitute forward looking statements. These forward looking statements are based upon GOV’s present intents, beliefs or expectations, but forward looking statements are not guaranteed to occur and may not occur. GOV’s actual results may differ materially from those contained in GOV’s forward looking statements. The information contained in GOV’s filings with the Securities and Exchange Commission (SEC), including under “Risk Factors” and “Warnings Concerning Forward Looking Statements” in GOV’s periodic reports and other filings, identifies important factors that could cause GOV’s actual results to differ materially from those stated or implied in GOV’s forward looking statements. GOV’s filings with the SEC are available on the SEC’s website at www.sec.gov and are also accessible on GOV’s website at the following link: SEC Filings. You should not place undue reliance upon forward looking statements. Except as required by law, GOV does not intend to update or change any forward looking statements as a result of new information, future events or otherwise.

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