OPI - Mergers and acquisitions

Addresses Sale Speculation Modiv Industrial, Inc. ("Modiv" or the "Company") (NYSE:MDV), the only public REIT exclusively focused on acquiring industrial manufacturing real estate properties, today announced its latest independent, third-party appraisal of its assets resulting in an updated Net Asset Value ("NAV") of $24.11 per share as of December 31, 2024. The following is a statement from Aaron Halfacre, CEO of Modiv Industrial: "This year we engaged Cushman & Wakefield to conduct an appraisal of our 43 properties and to value our three fixed rate mortgages. Their estimates of value were then used to calculate our net asset value (NAV) per share as delineated in the table further b

Urban Core Class A Office Properties Highly Leased to Strong Credit Tenants in Strong and Growing Markets Office Properties Income Trust (NASDAQ:OPI) today announced that it has completed the acquisition of two Class A office properties for a total of $550.0 million, excluding closing costs. OPI acquired the approximately 531,190 square foot Class A office property known as 1K Fulton in Chicago, IL for $355.0 million, excluding closing costs, reflecting a current GAAP cap rate of 4.7% at closing. The property is 73% leased to Google as its Midwest headquarters and 99% leased overall, with a weighted average lease term of 6.6 years. This LEED certified property underwent a full redevelopme

NEWTON, Mass.--(BUSINESS WIRE)--Office Properties Income Trust (Nasdaq: OPI) today announced that it has completed the sale of a property in Richmond, VA for a sale price of $130.0 million, excluding closing costs. “We are pleased with this opportunistic sale at what we believe to be a price reflective of a long-term stabilized property despite the tenant’s lease expiring in 2024,” stated Chris Bilotto, President and Chief Operating Officer of OPI. “The $418 per square foot sale is on par with the higher sales comps realized in the market over the past few years.” Proceeds from this sale will be used for general business purposes, including the potential future acquisition or rede