Equity commonwealth completes $416.9 million midwest portfolio sale

Chicago--(business wire)--equity commonwealth (nyse: eqc) today announced that it completed the sale of a four-property office portfolio totaling 3.1 million square feet for a gross sale price of $416.9 million. proceeds from the sale were $376.2 million net of credits for rent abatements and contractual lease costs. the assets sold include 111 monument circle and 101-115 west washington street in indianapolis, indiana; north point office complex in cleveland, ohio; and 100 east wisconsin in milwaukee, wisconsin. as of june 30, 2016, the sold portfolio was 86.5% leased. earlier in the month, the company also completed the sale of a 121,901 square foot office property, 8701 north mopac in austin, texas, for a gross sale price of $21.5 million. as of june 30, 2016, the property was 79.1% leased. year-to-date, the company has sold $1.1 billion of assets, inclusive of 27 properties and 7.2 million square feet. about equity commonwealth equity commonwealth (nyse: eqc) is a chicago based, internally managed and self-advised real estate investment trust (reit) with commercial office properties throughout the united states. eqc’s portfolio is comprised of 38 properties and 16.9 million square feet.
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