HRPT Properties Trust, Newton, Mass., has priced a public offering of 3 million common shares of beneficial interest of Senior Housing Properties Trust, also of Newton, at $18.20 per share.The shares were owned by HRPT, a real estate investment trust. At the same time, Senior Housing Properties, also a REIT, has agreed to sell 5 million newly issued common shares. HRPT said it has granted the underwriters a 30-day option to buy up to 1.20 million additional shares of its Senior Housing Properties holdings to cover any overallotments for the combined offering of 8 million shares. Senior Housing Properties will not receive any proceeds from the sale of shares sold by HRPT. After the closing of the offering, and assuming no exercise of the overallotment option, HRPT will own 9.8 million shares of Senior Housing Properties, the company said. UBS Investment Bank and RBC Capital Markets are the joint book-running managers of the combined offering. The REITs can be found online at http://www.hrpreit.com and http://www.snhreit.com.
-
The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
3h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
7h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
10h ago -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24