CommonWealth REIT (CWH)

Profile

Exchange: NYSE       Sector: Financial       Industry: REIT - Diversified

CommonWealth REIT is a real estate investment trust, or REIT, which primarily owns office and industrial buildings located throughout the United States. The majority of its properties are office buildings located in suburban areas and central business districts, or CBDs, of major metropolitan markets. CWH was founded in 1986 and went public on the New York Stock Exchange as a REIT that owned healthcare related properties. In the 1990’s it transformed into an office REIT by selling healthcare assets and buying office buildings. The company also formed three subsidiary REITs: Hospitality Properties Trust (HPT), a REIT that owns hotels and travel centers; Senior Housing Properties Trust (SNH), a REIT that primarily owns healthcare properties; and Government Properties Income Trust (GOV), a REIT that primarily owns and leases office buildings that are majority leased to government tenants. HPT, SNH and GOV became separate public companies in 1995, 1999 and 2009, respectively. The company has changed its name from HRPT Properties Trust to CommonWealth REIT in July 2010. It was founded by Barry M. Portnoy on October 9, 1986 and is headquartered in Newton, Massachusetts.