Industrial Logistics Properties Trust Announces Closing of Previously Announced Acquisitions
NEWTON, Mass.--(BUSINESS WIRE)--Apr 10, 2019--Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced that is has closed on the previously announced acquisition of a portfolio of 18 properties for $624.7 million. Also, ILPT last week closed on the last remaining property included in the previously announced portfolio acquisition of eight properties which had an aggregate purchase price of $280.0 million.
“We are pleased with the closing of these portfolio acquisitions which grow our industrial asset base by over $900 million with well located, high quality properties and strong credit tenants, including leading e-commerce companies,” said John Murray, ILPT’s President and CEO. “Over 70% of the funds to complete these acquisitions came from unlocking some of the value in our industrial assets in Hawaii. We look forward to the growing cash flows these acquisitions will provide which may enhance our ability to grow distributions and continue to create value for our shareholders.”
Industrial Logistics Properties Trust is a real estate investment trust, or REIT, that owns and leases industrial and logistics properties throughout the United States. ILPT is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, MA.
WARNING REGARDING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS STATEMENTS THAT CONSTITUTE FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. ALSO, WHENEVER ILPT USES WORDS SUCH AS “BELIEVE”, “EXPECT”, “ANTICIPATE”, “INTEND”, “PLAN”, “ESTIMATE”, “WILL”, “MAY” AND NEGATIVES OR DERIVATIVES OF THESE OR SIMILAR EXPRESSIONS, ILPT IS MAKING FORWARD LOOKING STATEMENTS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON ILPT’S PRESENT INTENT, BELIEFS OR EXPECTATIONS, BUT FORWARD LOOKING STATEMENTS ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTAINED IN OR IMPLIED BY ILPT’S FORWARD LOOKING STATEMENTS AS A RESULT OF VARIOUS FACTORS. FOR EXAMPLE:
- ILPT’S PRESIDENT STATES IN THIS PRESS RELEASE THAT ILPT IS LOOKING FORWARD TO THE GROWING CASH FLOWS THESE ACQUISITIONS WILL PROVIDE WHICH MAY ENHANCE ILPT’S ABILITY TO GROW DISTRIBUTIONS AND CONTINUE TO CREATE VALUE FOR SHAREHOLDERS. HOWEVER, ILPT’S CASH FLOWS AND DISTRIBUTIONS MAY NOT INCREASE.
THE INFORMATION CONTAINED IN ILPT’S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION, OR SEC, INCLUDING UNDER “RISK FACTORS” IN ILPT’S PERIODIC REPORTS OR INCORPORATED THEREIN, IDENTIFIES OTHER IMPORTANT FACTORS THAT COULD CAUSE ILPT’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE STATED IN OR IMPLIED BY ILPT’S FORWARD LOOKING STATEMENTS. ILPT’S FILINGS WITH THE SEC ARE AVAILABLE AT THE SEC’S WEBSITE AT WWW.SEC.GOV.
YOU SHOULD NOT PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.
EXCEPT AS REQUIRED BY LAW, ILPT DOES NOT INTEND TO UPDATE OR CHANGE ANY FORWARD LOOKING STATEMENTS AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190410005243/en/
CONTACT: Olivia Snyder, Manager, Investor Relations
KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS
INDUSTRY KEYWORD: PROFESSIONAL SERVICES REIT FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: Industrial Logistics Properties Trust
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PUB: 04/10/2019 08:00 AM/DISC: 04/10/2019 08:01 AM