Select Income REIT: Update following merger announcement
Our credit view of SIR, reflecting negative credit implications of the proposed merger, external management structure, strong liquidity and long-term leases providing earnings stability.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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