Office Properties Income Trust Announces First Quarter 2023 Results

Rhea-AI Summary

Office Properties Income Trust (Nasdaq: OPI) announced its financial results for the first quarter ended March 31, 2023. The REIT owns and leases high-quality office properties across the U.S., with approximately 63% of revenues coming from investment-grade rated tenants. As of the end of Q1 2023, OPI managed 157 properties totaling about 20.9 million square feet in 30 states and Washington, D.C. Furthermore, OPI has been recognized as an Energy Star® Partner of the Year for six consecutive years. The company is managed by The RMR Group (Nasdaq: RMR), which has over $37 billion in assets under management. A conference call to discuss these results will be held on April 27, 2023, at 10:00 a.m. Eastern Time.

Positive

• 63% of revenues from investment-grade rated tenants.
• 157 properties owned, totaling approximately 20.9 million square feet.
• Recognized as Energy Star® Partner of the Year for six consecutive years.

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• None.

NEWTON, Mass.--(BUSINESS WIRE)-- Office Properties Income Trust (Nasdaq: OPI) today announced its financial results for the quarter ended March 31, 2023, which can be found at the Quarterly Results section of OPI’s website at https://www.opireit.com/investors/financial-information/default.aspx.

A conference call to discuss OPI's first quarter results will be held on Thursday, April 27, 2023 at 10:00 a.m. Eastern Time. The conference call may be accessed by dialing (877) 328-1172 or (412) 317-5418 (if calling from outside the United States and Canada); a pass code is not required. A replay will be available for one week by dialing (412) 317-0088; the replay pass code is 1986161. A live audio webcast of the conference call will also be available in a listen only mode on OPI’s website, at www.opireit.com. The archived webcast will be available for replay on OPI’s website after the call. The transcription, recording and retransmission in any way are strictly prohibited without the prior written consent of OPI.

About Office Properties Income Trust:

OPI is a national REIT focused on owning and leasing high quality office and mixed-use properties in select growth-oriented U.S. markets. As of March 31, 2023, approximately 63% of OPI's revenues were from investment grade rated tenants. OPI owned and leased 157 properties as of March 31, 2023, with approximately 20.9 million square feet located in 30 states and Washington, D.C. In 2023, OPI was named as an Energy Star® Partner of the Year for the sixth consecutive year. OPI is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $37 billion in assets under management as of March 31, 2023, and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. OPI is headquartered in Newton, MA. For more information, visit opireit.com.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230426005940/en/

Kevin Barry, Director, Investor Relations

(617) 219-1410

Source: Office Properties Income Trust

FAQ

What were the Q1 2023 results for Office Properties Income Trust (OPI)?

OPI reported its financial results for Q1 2023, with 63% of revenues from investment-grade tenants and owning 157 properties across the U.S.

When is the next conference call for OPI's financial results?

The next conference call will take place on April 27, 2023, at 10:00 a.m. Eastern Time.

What percentage of OPI's revenue comes from investment-grade tenants?

Approximately 63% of OPI's revenues come from investment-grade rated tenants.

How many properties does OPI own?

As of March 31, 2023, OPI owns 157 properties.

What recognition has OPI received in 2023?

OPI was named as an Energy Star® Partner of the Year for the sixth consecutive year.