Office Properties Income Trust Appoints Christopher Bilotto as President and Chief Operating Officer Effective January 1, 2021
Office Properties Income Trust (Nasdaq: OPI) has appointed Christopher Bilotto as the new President and Chief Operating Officer, effective January 1, 2021. Previously serving as Vice President and Chief Operating Officer, Bilotto has been instrumental in guiding OPI during the pandemic, enhancing its position in the office REIT sector. His predecessor, David M. Blackman, will retire on June 30, 2021 after over a decade with OPI, ensuring a smooth transition by remaining as a non-executive employee until then.
- Appointment of a seasoned leader who has navigated the company through challenging times.
- Expected continuity in operational performance and strategic direction.
- Transition period may raise concerns regarding continuity of leadership.
- Potential experience gap until Bilotto fully establishes his leadership style.
NEWTON, Mass.--(BUSINESS WIRE)--Office Properties Income Trust (Nasdaq: OPI) today announced that Christopher Bilotto has been appointed as President and Chief Operating Officer of OPI, effective January 1, 2021.
Mr. Bilotto has been Vice President of OPI since 2019 and Chief Operating Officer of OPI since May 2020. Mr. Bilotto is also Senior Vice President of The RMR Group (Nasdaq: RMR), responsible for portfolio management oversight for all office, industrial and retail properties managed by RMR as well as responsible for all development and redevelopment activities at RMR across the United States. Prior to joining RMR in 2011, Mr. Bilotto worked at General Growth Properties in various management roles. He has more than 15 years of experience working in the commercial real estate industry, specializing in asset management, leasing and development.
Mr. Bilotto succeeds David M. Blackman, who is retiring from RMR on June 30, 2021 and therefore resigning from his executive officer positions at OPI, RMR and other affiliated companies, effective December 31, 2020. Mr. Blackman has been a member of OPI Senior Management since 2009 and a Managing Trustee of OPI since 2019. To ensure a smooth transition, Mr. Blackman will remain a non-executive employee of RMR until his retirement on June 30, 2021. Mr. Blackman will continue as a Managing Trustee of OPI until the earlier of his successor Managing Trustee being elected to the Board or his retirement on June 30, 2021.
Adam Portnoy, a Managing Trustee of OPI and a Managing Director, President and Chief Executive Officer of RMR, made the following statement:
“In nearly a decade at RMR and over the past two years as part of Senior Management at OPI, Chris has proven himself to be an inclusive and creative leader who has grown and excelled with each opportunity and challenge. Most recently, Chris has played a primary role during the pandemic in navigating OPI to a position of strength within the office REIT industry. Looking forward, Chris has the Board’s confidence to continue delivering strong operating performance while creating value for OPI’s shareholders.”
OPI is a REIT focused on owning, operating and leasing properties primarily leased to single tenants and those with high credit quality characteristics such as government entities. OPI is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, Massachusetts.
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.
