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MASS. MOVERS

REIT prices offering of 10 million shares

Settlement of CommonWealth’s stock offering is expected Monday. Above, the New York Stock Exchange. Settlement of CommonWealth’s stock offering is expected Monday. Above, the New York Stock Exchange. (Ramin Talaie/Getty Images)
July 14, 2011

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CommonWealth REIT has priced an offering to the public of 10 million common shares at $24 per share. The Newton-based owner of office and industrial properties (formerly known as HRPT Properties Trust) said it expects to use the proceeds of the offering to repay debt under its revolving credit facility and for general business purposes, including funding acquisitions. The underwriters have been granted a 30-day option to purchase up to an additional 1.5 million common shares to cover any over-allotments.