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

HRPT Properties Trust (NYSE: HRP) announced today that it has priced a public offering of 12,000,000 common shares of beneficial interest at a price of $10.07 per share. The settlement of this sale is expected to occur on Friday, October 19, 2007. HRP expects to use the net proceeds, plus borrowings under its revolving credit facility, to redeem all or a portion of its $300 million outstanding 8.75% Series B preferred shares. The underwriters have been granted a 30-day option to purchase up to an additional 1,800,000 shares from HRP to cover overallotments, if any.

The joint book running managers for this offering are Morgan Stanley, RBC Capital Markets and UBS Investment Bank. The co-managers for this offering are Banc of America Securities LLC, Ferris, Baker Watts Incorporated, Janney Montgomery Scott LLC, Morgan Keegan & Company, Inc., Oppenheimer & Co. and Stifel Nicolaus.

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 or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. Copies of the prospectus supplement and accompanying prospectus related to this offering may be obtained from the offices of Morgan Stanley & Co. Incorporated (Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or by email at [email protected]) or from the offices of any of the other managing underwriters identified above.

Source: HRPT Properties Trust