NEWTON, MA-RMR Hospitality and Real Estate Fund priced its initial public offering. The locally based closed-end investment company invests in securities issued by hospitality and real estate companies and focuses on capital appreciation. A total of 2.5 million shares were priced at $20 per share, which totals nearly $50 million in proceeds. Included in the shares were 480,000 shares purchased by affiliates of the fund’s advisor. The offering is closing at the end of the month.The fund has granted the offering underwriters an option to purchase up to an additional 372,000 shares during the next 45 days to cover over allotments. RBC Capital Markets and Merrill Lynch & Co. are co-lead managing underwriters for this offering. RBC Capital Markets is the sole book runner.The co-managing underwriters for this offering are BB&T Capital Markets, BNY Capital Markets, Harrisdirect, KeyBanc Capital Markets, Legg Mason Wood Walker Inc., Stifel, Nicolaus & Company Inc., SunTrust Robinson Humphrey, Wachovia Securities, Wedbush Morgan Securities and Wells Fargo Securities, LLC.

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