OFFICE PROPERTIES INCOME TRUST (OPIRQ): M&A transaction — OPI completes sale of Colorado Springs office property to Mitre for $26.2M

OFFICE PROPERTIES INCOME TRUST

Sold 350 Spectrum Loop (155,808 sq ft) to The Mitre Corporation for $26.2M, excluding closing costs.
Net proceeds of ~$24.2M added to cash; pro forma gain on sale of $12.96M recognized.
Pro forma rental income reduced by $2.5M (2023) and $2.0M (9M 2024) due to the sale.
Sale completed November 1, 2024; property was previously classified as held for sale.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

OFFICE PROPERTIES INCOME TRUST completed a disposition involving The Mitre Corporation for $26.2 million (closed 2024-11-01).

Action: disposition
Counterparty: The Mitre Corporation
Consideration: $26.2 million
Closing: 2024-11-01

Exact text from the filing

On November 1, 2024, OPI completed the sale of an office property with approximately 155,808 rentable square feet located at 350 Spectrum Loop, Colorado Springs, Colorado, or 350 Spectrum Loop, to The Mitre Corporation for $26.2 million, excluding closing costs.

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Source: SEC EDGAR

accession 0001456772-24-000055

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