2/27/12

Select Income REIT, a real estate investment trust with 228 leased properties in Oahu, Hawaii and 23 more in the mainland US, announced terms for its IPO on Monday. The Newton, MA-based company plans to raise $176 million by offering 8 million shares at a price range of $21.00 to $23.00. At the midpoint of the proposed range, Select Income REIT would command a market value of $660 million. Select Income REIT plans to list on the NYSE under the symbol SIR. Morgan Stanley, BofA Merrill Lynch and Wells Fargo are the lead underwriters on the deal.