NEWTON, Mass.--(BUSINESS WIRE)--Office Properties Income Trust (Nasdaq: OPI) today announced that it has acquired a Class A net leased office building totaling 150,000 square feet on 16 acres located in Fort Mill, SC for $35.1 million, excluding closing costs. The property is 100% leased for more than 10 years and serves as corporate headquarters for RoundPoint Mortgage Servicing Corp., a wholly owned subsidiary of Freedom Mortgage Company, one of the nation’s largest full-service mortgage companies and a leader in Veterans Affairs and government-insured lending. The property was constructed in 2019 and is located along I-77 in what is considered suburban Charlotte, NC.

David Blackman, President and Chief Executive Officer of OPI, made the following statement:

“We are pleased to announce an acquisition that demonstrates the strategy behind our capital recycling program. Year to date we have generated approximately $110 million in proceeds from asset sales and are recycling a portion of that capital into a property that we believe will generate greater cash returns after capex than the properties sold. The acquisition of this recently constructed, Class A, single tenant, long term leased property in a growing market is indicative of our core investment criteria. We remain committed to continuing the execution of our capital recycling program as we move into 2021.”

Office Properties Income Trust is a real estate investment trust, or REIT, focused on owning, operating and leasing buildings primarily leased to single tenants and those with high credit quality characteristics such as government entities. OPI is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, MA.