On the heels of announcing a name change and stock split plan, Newton’s HRPT Properties Trust is also selling 15 of its primarily government-leased properties to former subsidiary and fellow Newton REIT Government Properties Income Trust (GOV) for approximately $231 million.

HRPT currently holds 9.95 million shares of Government Properties Income Trust, or slightly less than a 32 percent stake in the REIT it formerly fully-owned.

According to a statement, when GOV completed its initial public offering in June 2009, HRPT granted GOV a right of first refusal to purchase properties which HRP owns that are majority leased to government tenants, including the 15 properties subject to the agreements announced today.

The purchases of the 15 properties are expected to close in phases between today and March 31, 2011, the companies said.

When all of the sales are completed, HRP said it expects to recognize net capital gains totaling approximately $20 million.