Government Properties Trust. Announces Pricing of Initial Public Offering

OMAHA, NE - January 27, 2004 - PRNewswire

Government Properties Trust, Inc. (NYSE: GPP), a real estate company that invests in single-tenant properties under long-term leases to the U.S. government, announced today the pricing of an initial public offering of 16,800,000 shares of common stock at $10.00 per share, all of which were offered by Government Properties Trust. The shares will trade on the New York Stock Exchange under the symbol 'GPP.' Friedman, Billings, Ramsey & Co., Inc. acted as the sole book-running lead manager and BB&T Capital Markets and Flagstone Securities, acted as co-managers of the offering.

Total net proceeds from the offering after deducting underwriting discounts and costs associated with the offering were approximately $158.9 million and will be used to repay outstanding indebtedness and to acquire additional properties. Government Properties Trust, Inc. invests in single tenant properties under long-term leases to the U.S. government. Government Properties Trust is a self-managed, self-administered company that will elect to be taxed as a real estate investment trust, or REIT, under the federal tax laws. Sphere: Related Content