NEWTON, Mass.--(BUSINESS WIRE)--

HRPT Properties Trust (NYSE: HRP) announced today that it has commenced a $250 million public offering of Series D Convertible Preferred Shares. HRPT intends to use the net proceeds of this offering to reduce amounts outstanding under its revolving credit facility. The underwriters will be granted a 30-day option to purchase additional shares from HRPT for overallotments, if any.

The Series D Convertible Preferred Shares will have a liquidation preference of $25.00 per share. An application will be made to list the Series D Convertible Preferred Shares on the New York Stock Exchange.

The joint book-running managers for the offering are Merrill Lynch & Co. and Banc of America Securities LLC. The co-lead managers for this offering are RBC Capital Markets and UBS Investment Bank.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state. An electronic copy of the preliminary prospectus supplement and accompanying prospectus may be obtained from the offices of Merrill Lynch & Co., 4 World Financial Center, New York, NY 10080, or Banc of America Securities LLC, Capital Markets (Prospectus Fulfillment) by e-mail to [email protected] or by mail to Banc of America Securities LLC, Capital Markets Operations, 100 West 33rd Street, 3rd Floor, New York, NY 10001.

             WARNING REGARDING FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND THE FEDERAL SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON HRPT'S PRESENT EXPECTATIONS, BUT THESE STATEMENTS AND THE IMPLICATIONS OF THESE STATEMENTS ARE NOT GUARANTEED. FOR EXAMPLE, ALTHOUGH THIS PRESS RELEASE REFERS TO THE SALE OF $250 MILLION OF SERIES D CONVERTIBLE PREFERRED SHARES, THE AMOUNT OF THIS OFFERING MAY CHANGE OR THIS OFFERING MAY BE WITHDRAWN. INVESTORS SHOULD NOT PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.

Source: HRPT Properties Trust