ILPT - Mergers and acquisitions

NEWTON, Mass.--(BUSINESS WIRE)--Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced financial results for the quarter ended December 31, 2020. John Murray, President and Chief Executive Officer of ILPT, made the following statement: "We reported a strong finish to the year, with steady progress on our key priorities to reduce leverage, expand the portfolio, and create value for tenants and investors in today's competitive operating environment. ILPT entered into new and renewal leases for approximately 253,000 square feet, resulting in weighted average rental rates that were 14.1% higher than prior rental rates with a weighted average lease term of 13 years. Our p

NEWTON, Mass.--(BUSINESS WIRE)--Industrial Logistics Properties Trust (Nasdaq: ILPT) announced the acquisition of a net leased Class A industrial building in Kansas City, Kansas for a purchase price of $44.0 million, excluding acquisition related costs. The building is situated on 57 acres located at 17001 West Mercury Street and consists of approximately 645,000 rentable square feet. This single tenant property is 100% leased and has a remaining lease term of approximately 12 years. The purchase price represents a 6.5% capitalization rate. John Murray, President and Chief Executive Officer of ILPT, made the following statement: “We are pleased to add this modern distribution faci