Office Properties Income Trust has sold two properties for an aggregate sales price of $21.9 million, excluding closing costs. The two properties include:
A six-story, 121,711 square foot office building located at 138 Delaware Avenue in Buffalo, NY.
A three-story, 287,037-square-foot vacant office building located at 111 Powdermill Road in Maynard, MA.
The sales proceeds will be used for general corporate purposes, including the repayment of amounts outstanding on the company’s unsecured term loan.
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 The RMR Group Inc., an alternative asset management company that is headquartered in Newton, MA.