Government Properties Income Trust: Proposed REIT merger is credit negative for Select Income, but positive for Government Properties
The merger provides Government Properties with increased scale and addresses several operating challenges, while Select Income will lose some asset type diversification and increase leverageGovernment Properties Income Trust is a real estate investment trust. As of Dec 31 2016, the company owned 73 properties (95 buildings), excluding one property (one building) classified as discontinued operations. The company's properties are located in 31 states and the District of Columbia.
Select Income Real Estate Investment Trust is a real estate investment trust that primarily owns single tenant, net leased properties. As of Dec 31 2016, the company owned 121 properties (362 buildings, leasable land parcels and easements). These properties consisted of 110 office and industrial properties (131 buildings) located in 34 states throughout the mainland U.S., and 11 properties (229 buildings, leasable land parcels and easements) located on the island of Oahu, HI.
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