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.

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