NEWTON, Mass.--(BUSINESS WIRE)--Select Income REIT (Nasdaq: SIR) today announced that it has completed the distribution of all its 45,000,000 common shares of beneficial interest of Industrial Logistics Properties Trust (Nasdaq: ILPT) that it owned in a pro rata distribution. The ILPT common shares were distributed on December 27, 2018 to the holders of SIR’s common shares of beneficial interest outstanding as of the close of business on December 20, 2018.

Each common shareholder of SIR entitled to receive ILPT shares in the Distribution received approximately 0.503 ILPT common shares for each SIR common share outstanding as of the Record Date, subject to cash payment in lieu of any fractional shares.

The Distribution is a condition of closing SIR’s merger (the “Merger”) with Government Properties Income Trust (Nasdaq: GOV), which merger was approved by SIR shareholders at SIR’s special meeting of shareholders held on December 20, 2018 and is expected to be effective December 31, 2018.

SIR expects that approximately half of its 2018 cash and other distributions (including the Distribution) will be a nontaxable return of capital to SIR’s shareholders.

For more information, shareholders who are record holders of SIR common shares should contact SIR’s transfer agent, registrar and dividend disbursing agent, EQ Shareowner Services, at (855) 598-5491. Shareholders who hold SIR common shares in an account with a broker, bank or other nominee should contact such broker, bank or other nominee.

Select Income REIT is a real estate investment trust, or REIT, which owns properties that are primarily net leased to single tenants. SIR is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, MA.