RE Company Prices IPO

Government Properties Trust Inc., Omaha, Neb., has priced an initial public offering of 16.8 million shares of common stock at $10 per share.The net proceeds of the offering, totaling approximately $158.9 million, will be used to repay debt and buy additional properties, the company said. Friedman, Billings, Ramsey & Co. was the book-running lead manager of the offering. The underwriters have been granted an option to buy up to 2.52 million additional shares to cover any overallotments. Government Properties, which said it will elect to be taxed as a real estate investment trust, invests in single-tenant properties under long-term lease to the U.S. government.