June 1, 2020
Service Properties Trust (Nasdaq: SVC) has completed the sale of a 674,143-square-foot industrial facility in Canton, MA. The sales price was $51 million. The proceeds from the sale will be used for the repayment of debt.
Located at 555 Turnpike St., the facility was acquired as part of the REIT’s SMTA net lease portfolio acquisition in September of 2019.
Service Properties Trust owns a portfolio of hotels and net lease service and necessity-based retail properties across the United States and Canada, with 148 brands across 23 industries. SVC’s properties are operated under long term management or lease agreements. SVC is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR).
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