The RMR Group Inc. - RMR STOCK NEWS

Seven Hills Realty Trust (Nasdaq: SEVN) has successfully closed a $21 million floating-rate bridge loan to acquire Bellevue Terrace, a 72,000-square-foot multi-tenant office property in Bellevue, Washington. The initial funding of approximately $20 million will support the purchase, with an additional $1 million available for improvements. The loan, managed by Tremont Realty Capital, has a three-year term with extension options. SEVN's President, Tom Lorenzini, highlighted the company's aim to grow its portfolio by funding well-leased properties and stated a positive outlook on future transactions.

Service Properties Trust (Nasdaq: SVC) reported a third quarter net loss of $59.7 million, or $(0.36) per share, improving from a loss of $102.6 million in Q3 2020. Normalized FFO rose to $43.8 million, or $0.27 per share, from $23.2 million, while EBITDAre increased 32.5% to $137.3 million. Hotel portfolio occupancy improved to 60.1%, and RevPAR surged by 75.7% year-over-year. SVC maintains strong liquidity with $912.5 million in cash and no debt maturities until Q3 2022, anticipating a rebound in business travel as urban areas re-open.

Diversified Healthcare Trust (Nasdaq: DHC) reported significant leasing activity in Q3 2021, with 372,106 square feet leased at average rents 28% higher than prior levels. New management agreements for 107 senior living communities were executed, with 99 transitioned to new third-party managers, expected to complete by year-end. The company faced a net loss of $89.3 million, or $0.38 per share, and a decrease in normal funds from operations (Normalized FFO) to -$9.4 million. DHC's liquidity remains strong with $800 million cash available, despite industry recovery challenges.

Seven Hills Realty Trust (Nasdaq: SEVN) completed its merger with Tremont Mortgage Trust (TRMT) on September 30, 2021. The merger resulted in a combined portfolio with over $526 million in capital. For Q3 2021, SEVN reported net income of $2.5 million, or $0.24 per share, and distributable earnings also at $2.5 million, reflecting a significant increase from Q2. SEVN's loan commitments totaled $525.9 million with a weighted average coupon rate of 4.86%. Despite a decrease in book value per share to $16.32, the company aims to leverage its expanded liquidity for future investments.

Seven Hills Realty Trust (Nasdaq: SEVN) has successfully closed a $24.8 million floating-rate bridge loan to refinance the Centerpoint Plaza, a 98,000 square foot office property in Carlsbad, California. The initial funding of approximately $23.7 million is supplemented by $1.1 million available for future enhancements. This loan features a three-year term with two one-year extensions. The company's President, Tom Lorenzini, noted this marks a significant milestone following the merger of RMR Mortgage Trust and Tremont Mortgage Trust, showcasing SEVN's growth trajectory.

Service Properties Trust (Nasdaq: SVC) announced an amended management agreement with Radisson Hospitality to manage nine hotels for a 10-year term starting August 1, 2021. Radisson will manage eight hotels, ensuring a $10.2 million annual owner's priority return backed by a $22 million guaranty from 2023. SVC plans to invest $12 million in renovations, expected to boost owner return coverage. This agreement extends their relationship until at least 2031, allowing for improved portfolio management and potential financial stability.

Office Properties Income Trust (Nasdaq: OPI) reported a net income of $3.7 million ($0.08/share) for Q3 2021, a recovery from a $3.8 million loss in the same quarter of 2020. Normalized FFO was $59.6 million ($1.24/share), a drop from $62.6 million ($1.30/share) year-over-year. The same property cash basis NOI increased by 1.0% to $82.5 million. OPI leased 659,000 square feet with an average term of 10.9 years and ended the quarter with an occupancy rate of 89.0%. The company raised $750 million in senior notes, enhancing liquidity to over $800 million.

Industrial Logistics Properties Trust (Nasdaq: ILPT) reported third quarter net income of $0.28 per share, representing a 27.3% year-over-year increase. The company achieved 818,000 square feet of leasing activity with an average rental rate increase of over 20%. Normalized funds from operations (FFO) remained stable at $0.46 per share. Same property cash basis net operating income (NOI) increased by 3.4%. ILPT's portfolio occupancy was 99%, and the company acquired three Class A industrial buildings for $100 million during the quarter.

The RMR Group Inc. (Nasdaq: RMR) announced it will release its fourth quarter 2021 financial results on November 15, 2021, after market close. A conference call with President Adam Portnoy and CFO Matt Jordan is scheduled for November 16, 2021, at 10:00 a.m. ET. Participants can call (877) 270-2148 for US and Canadian access, or (412) 902-6510 internationally. A live audio webcast will also be available on RMR’s website. The company manages approximately $32 billion in assets and leverages a team of over 600 real estate professionals nationwide.