The RMR Group Inc. Reports 79 Leases Totaling Approximately 3.4 Million Square Feet of Leasing for the Three Months Ended March 31, 2021

Rhea-AI Summary

The RMR Group Inc. (Nasdaq: RMR) announced the execution of 79 new and renewal leases totaling approximately 3.4 million square feet from January to March 2021. This includes 32 new leases of around 480,000 square feet and 47 renewals exceeding 2.9 million square feet. The weighted average lease term is about nine years. With nearly 1,300 properties under management, RMR specializes in commercial real estate and manages approximately $32 billion in assets.

Positive

• Execution of 79 leases totaling 3.4 million square feet indicates strong leasing momentum.
• Increase in new and renewal leases both sequentially and year-over-year.
• Weighted average lease term of approximately nine years suggests stability.

Negative

• None.

The RMR Group Inc. (Nasdaq: RMR) today announced the execution of 79 new and renewal leases totaling approximately 3.4 million square feet during the three months ended March 31, 2021 for its clients. This includes 32 new leases for a total of approximately 480,000 square feet, and 47 renewal leases for a total of over 2.9 million square feet.

Adam Portnoy, President & Chief Executive Officer, made the following statement:

“We are pleased with the continued leasing momentum across our nationwide portfolio during the first three months of 2021. RMR executed approximately 3.4 million square feet of new and renewal leases, an increase both sequentially and year-over-year, with a weighted average lease term of approximately nine years.”

The RMR Group provides property management services nationwide for nearly 1,300 properties with approximately 91 million square feet of office, industrial, medical office, life science and retail space. RMR exclusively provides property management services to its clients and does not offer stand-alone property management services to third-parties.

About The RMR Group

The RMR Group Inc. (Nasdaq: RMR) is a holding company and substantially all of its business is conducted by its majority owned subsidiary, The RMR Group LLC, or RMR. RMR is a leading U.S. alternative asset management company, unique for its focus on commercial real estate (CRE) and related businesses. RMR’s vertical integration is supported by its more than 600 real estate professionals in over 30 offices nationwide who manage approximately $32 billion in assets under management and leverage 35 years of institutional experience in buying, selling, financing and operating CRE. RMR is headquartered in Newton, MA and was founded in 1986. For more information, please visit www.rmrgroup.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210518005995/en/

FAQ

What did RMR Group announce regarding leases in Q1 2021?

RMR Group announced the execution of 79 new and renewal leases totaling approximately 3.4 million square feet during Q1 2021.

How many new leases did RMR Group execute in Q1 2021?

RMR Group executed 32 new leases totaling approximately 480,000 square feet in Q1 2021.

What is the weighted average lease term for the leases executed by RMR Group?

The weighted average lease term for the leases executed by RMR Group is approximately nine years.

How many properties does RMR Group manage?

RMR Group manages nearly 1,300 properties nationwide.

What is the total assets under management for RMR Group?

RMR Group manages approximately $32 billion in assets.