CommonWealth REIT Sells Remaining GOV Stake

The commercial and industrial REIT unloads its position in a former subsidiary.

Eric Volkman
Eric Volkman
Mar 12, 2013 at 9:29PM

CommonWealth REIT (NYSE:EQC) has sold what was left of its stake in Government Properties Income Trust (NASDAQ:GOV). The two companies both announced the sale, which saw CommonWealth REIT divest itself of 9.95 million shares of its onetime subsidiary -- a stake of roughly 18% -- in a public offering. The price was $25.20 per share, and the proceeds totaled just over $240 million.