Newton-based real estate investment trust HRPT Properties Trust (HRP) reported net income for the fourth quarter of $63.5 million, compared to $27.5 million for the same quarter last year – a $36 million jump.
The trust reported net income available of $244.6 million for 2008, compared to net income of $124.3 million in 2007 – a $120.3 million leap.
HRP signed lease renewals for 638,000 square feet and new leases for 221,000 square feet during the fourth quarter, for weighted average rental rates that were 6 percent above prior rents for the same space, the trust said.
During the fourth quarter of 2008, HRP acquired seven office properties with 830,000 square feet of space for $134.3 million, excluding closing costs. The trust sold nine properties with 424,000 square feet of space for $114.0 million, excluding closing costs.