SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 8, 2004
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GOVERNMENT PROPERTIES TRUST, INC.
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(Exact name of registrant as specified in its charter)
Maryland 1-31962 20-0611663
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
10250 Regency Circle, Suite 100, Omaha, Nebraska 68114
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (402) 391-0010
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None
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 2.01. ACQUISITION OF ASSETS
On October 5, 2004, Government Properties Trust, Inc. (GPT) completed
its previously announced acquisition of the Food and Drug Administration (FDA)
building at 4300 River Road, College Park, Maryland for approximately $22.3
million. The purchase price was determined through arms-length negotiations
between GPT and the Class A and Class B membership owners of The Riverdale LLC,
unrelated parties with an address at 560 Herndon Parkway, Herndon, VA. GPT
funded the purchase price with cash on hand and the assumption of a mortgage
loan from a financial institution in the amount of $16.7 million. The mortgage
loan bears interest at a fixed rate of 6.75% with principal and interest
payments due monthly through November 2026.
The College Park property, completed in September 2004, totals
approximately 79,000 rentable square feet. Approximately 64,000 square feet is
leased by the federal government under a modified gross lease and is occupied by
the FDA. The current lease with the federal government expires in September
2014. The remaining space, totaling 15,000 rentable square feet is vacant. Under
the terms of the acquisition agreement, GPT will pay an additional amount of
$1.2 million to the membership owners of The Riverdale LLC should a lease be
executed for the vacant space within 6 months of the date of acquisition.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of business acquired.
The College Park property began operations in September 2004 and
therefore financial statements required pursuant to Rule 3-14 of Regulation S-X
are not applicable.
(b) Pro forma financial information
The College Park property began operations in September 2004 and
therefore pro forma financial information pursuant to Article 11 of Regulation
S-X is not applicable.
(c) Exhibits
None
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GOVERNMENT PROPERTIES TRUST, INC.
Date: October 8, 2004 By: /s/ Nancy D. Olson
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Nancy D. Olson
Chief Financial Officer and
Treasurer