Also in December 2012, CWH’s majority owned consolidated subsidiary, SIR, completed a public offering of 8,050,000 of its common shares (including 1,050,000 common shares sold pursuant to the underwriters’ option to purchase additional shares) for gross proceeds (before deducting underwriters’ discounts and estimated expenses) of $193.2 million. SIR owns substantially all of CWH’s consolidated commercial and industrial properties located in Oahu, HI, as well as 38 suburban office and industrial properties located throughout the mainland United States. After this offering, CWH continues to own 22,000,000, or approximately 56.0%, of SIR’s common shares.
Unless otherwise noted, the amounts reported above are on a consolidated basis and, as such, include the results of CWH’s consolidated subsidiary, SIR, including the effect of SIR’s minority interests since March 2012, when SIR became a public company with common shares registered under the Securities Exchange Act of 1934, as amended. For further information about SIR and its subsidiaries, please see SIR’s periodic reports and other filings with the Securities and Exchange Commission, or the SEC, which are available at the SEC’s website at www.sec.gov. References in this press release to SIR’s filings with the SEC are included to identify the source of SIR information only, and the information in SIR’s filings with the SEC is not incorporated by reference into this press release.
Conference Call:Later today, at 10:00 a.m. Eastern Time, Adam Portnoy, President and Managing Trustee, and John Popeo, Chief Financial Officer, will host a conference call to present the financial results for the quarter and year ended December 31, 2012. The conference call will not have a question and answer period. A replay, if any, will be announced at a future time. The conference call telephone number is (800) 230-1096. Participants calling from outside the United States and Canada should dial (612) 332-0725. No pass code is necessary to access either call. Participants should dial in about 15 minutes prior to the scheduled start of the call.