Office Properties Income Trust Elects Mark Talley to Board of Trustees

Rhea-AI Summary

Office Properties Income Trust (Nasdaq: OPI) has elected Mark Talley as an Independent Trustee, enhancing its Board composition to 78% independent members, 44% women, and 11% from underrepresented communities. Talley, a founding partner at Greenwood Commercial Real Estate, brings over 25 years of experience in the commercial real estate sector, primarily in office real estate. His expertise is expected to provide valuable insights as OPI aims to enhance shareholder value. The announcement highlights the company's commitment to diversity and effective governance.

Positive

• Increased Board independence with 78% independent trustees.
• 44% of the Board members are women, promoting diversity.
• Mark Talley's extensive experience in commercial real estate could enhance OPI's strategic decisions.

Negative

• None.

Expanded Board Includes 78% Independent Trustees, 44% Women and 11% Members of Underrepresented Communities

NEWTON, Mass.--(BUSINESS WIRE)-- Office Properties Income Trust (Nasdaq: OPI) today announced that it has elected Mark Talley to its Board of Trustees as an Independent Trustee, effective immediately. With the addition of Mr. Talley, OPI’s Board now includes nine Trustees, consisting of approximately 78% Independent Trustees, 44% women and 11% members of underrepresented communities.

Mr. Talley is a principal and one of the founding partners of Greenwood Commercial Real Estate, where he primarily provides acquisition, disposition and leasing services for clients regarding office real estate. Prior to starting Greenwood in May 2021, Mr. Talley worked for more than 25 years in various roles in the commercial real estate industry in the metropolitan Detroit, Michigan market, including working at Griswold Realty Advisors between 2012 and 2021, working at Grubb & Ellis between 2007 and 2012 as well as working at Jones Lang LaSalle (including its predecessor LaSalle Partners) between 1995 and 2007. Mr. Talley is also currently involved in various non-profit and civic leadership roles in the Detroit, Michigan area.

Adam Portnoy, Chair of OPI’s Board, made the following statement on today’s announcement:

“We are excited to welcome Mark as an Independent Trustee on OPI’s Board. We believe his more than twenty five years of commercial real estate industry experience, including significant experience in office real estate, will be a significant asset and we look forward to benefitting from his insight and expertise as we continue our work to create value for OPI’s shareholders.”

Korn Ferry assisted OPI’s Nominating and Governance Committee in identifying Mark Talley as a candidate for the Board.

About Office Properties Income Trust

Office Properties Income Trust (Nasdaq: OPI) is a national REIT focused on owning and leasing office properties primarily to single tenants and those with high credit quality characteristics. As of December 31, 2021, approximately 62% of OPI’s revenues were from investment grade rated tenants. OPI owned and leased more than 170 properties as of December 31, 2021, with over 23 million square feet located in 33 states and Washington, D.C. In 2021, OPI was named as an Energy Star® Partner of the Year for the fourth consecutive year, and a Green Lease Leader. OPI is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company. OPI is headquartered in Newton, MA. For more information, visit www.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/20220412006045/en/

Kevin Barry

Director, Investor Relations

(617) 219-1410

Source: Office Properties Income Trust

FAQ

Who is the new Independent Trustee elected by OPI?

Mark Talley is the newly elected Independent Trustee of Office Properties Income Trust (Nasdaq: OPI).

What percentage of OPI's Board is independent?

Approximately 78% of Office Properties Income Trust's Board of Trustees is independent.

What is the diversity composition of OPI's Board?

OPI's Board consists of 44% women and 11% members from underrepresented communities.

What is Mark Talley's professional background?

Mark Talley has over 25 years of experience in the commercial real estate industry and is a founding partner of Greenwood Commercial Real Estate.

How many properties does OPI manage?

As of December 31, 2021, Office Properties Income Trust owned and leased more than 170 properties.