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Government Properties, Select Income REIT complete merger

Government Properties Income Trust completed its merger with fellow real estate investment trust Select Income REIT.

After the effective time of the merger, the merged entity changed its name to Office Properties Income Trust and effected a 1-for-4 reverse split of its outstanding common shares.

Office Properties will begin trading on the Nasdaq on a split-adjusted basis under the ticker symbol OPI on Jan. 2, 2019.

Government Properties also amended its business management agreement with its manager The RMR Group LLC, the majority-owned operating unit of RMR Group Inc. Under the amended agreement, for periods beginning on and after Jan. 1, 2019, the business management agreement will use the SNL U.S. Office REIT Index instead of the SNL U.S. REIT Equity Index to calculate the benchmark return per share for purposes of determining the incentive management fee, if any, payable to the manager.