This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CommonWealth REIT Announces The Filing Of A Registration Statement For Possible Sale Of Select Income REIT Common Shares

CommonWealth REIT (NYSE: CWH) today announced that, at its request, Select Income REIT (NYSE: SIR) has filed with the Securities and Exchange Commission, or SEC, a registration statement to permit CWH’s public offering of some or all of the common shares of SIR owned by CWH. No decision has been made by CWH to sell any of the SIR common shares owned by CWH at this time. After the registration statement is declared effective by the SEC, and subject to market conditions, CWH may determine to sell all, some or none of the 22,000,000 SIR common shares it owns.

The Board of Trustees and management of CWH continue to be focused on executing CWH’s business plan, which includes (1) simplifying its investment portfolio, (2) selling non-core assets and (3) repositioning its investment portfolio toward central business district, or CBD, office buildings. If CWH determines to sell some or all of the SIR common shares that it owns, CWH’s current plan is to initially use the net proceeds to repay debt and eventually recycle the net proceeds into new investments in CBD office buildings.

SIR previously was a 100% owned subsidiary of CWH. In March 2012, SIR completed its initial public offering and became a separately listed public company. Today, SIR has a total of approximately 39.3 million common shares outstanding, of which 22,000,000 common shares (or approximately 56%) are owned by CWH.

The book running manager listed for the possible offering of SIR common shares owned by CWH is BofA Merrill Lynch.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement is declared effective. This press release shall not constitute an offer to sell nor a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.66 -0.09%
FB $118.57 0.84%
GOOG $698.30 0.76%
TSLA $241.82 0.44%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs