September 24, 2010 (FinancialWire) — CommonWealth REIT (NYSE: CWH) said that it has priced a public offering of 7.5 million common shares of beneficial interest at a public offering price of $26.75 per share.

The settlement of this offering is scheduled to occur on September 24. CWH plans to use the net proceeds to repay amounts outstanding under its $750 million revolving credit facility, fund a portion of its redemption of the remaining seven million shares of its 8 ?% Series B cumulative redeemable preferred shares, and fund general business activities, including possible future acquisitions.

The underwriters have been granted a 30-day option to purchase up to an additional 1.125 million shares to cover over allotments, if any.

Massachusetts-base Commonwealth REIT is a real estate investment trust that 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 of major metropolitan markets.

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