Select Income REIT, a CommonWealth REIT carve-out with commercial properties primarily in Oahu, raised $172 million by offering 8 million shares at $21.50, at the low end of the range of $21.00 to $23.00. At the IPO price, the REIT's expected yield rises to 7.4%. Select Income REIT plans to list on the NYSE under the symbol SIR. Morgan Stanley, BofA Merrill Lynch, and Wells Fargo Securities acted as lead managers on the deal.
