A Government PropertiesIncome Trust holding.

WASHINGTON, DCNewton, MA-basedOffice Properties Income Trust has finalized its sale of aportfolio of 34 buildings in the suburban Metro DC area for $198.5million, excluding closing costs. The 1.6-million square footportfolio sale is part of the REIT's disposition plan to fund its$1.4 billion acquisition  of First Potomac Realty Trust, which was purchasedwhen under Government Properties Trust.

“When we purchased [First Potomac], we determined that we wouldsell a number of the acquired properties that had significant capexrequirements or did not fit our long-term investment focus, andthese properties comprise the majority of today's transaction,”said David Blackman, OPI's President and Chief ExecutiveOfficer.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.