The RMR Group Inc. Reports 97 Leases Totaling Approximately Two Million Square Feet for the Three Months Ended June 30, 2021

Rhea-AI Summary

The RMR Group Inc. (Nasdaq: RMR) reported robust leasing activity for the quarter ending June 30, 2021, with 97 total new and renewal leases executed. This includes 37 new leases covering 526,000 square feet and 60 renewals totaling 1.4 million square feet. The total leasing for the fiscal year to date stands at 7.7 million square feet across 265 leases, reflecting a strong performance and a weighted average lease term exceeding 13 years. RMR manages nearly 1,300 properties nationwide, representing around 91 million square feet.

Positive

• Executed 97 new and renewal leases in Q2 2021.
• Total leasing of 2 million square feet in the recent quarter.
• An aggregate of 7.7 million square feet leased year-to-date.
• A weighted average lease term exceeding 13 years.

Negative

• None.

The RMR Group Inc. (Nasdaq: RMR) today announced the execution of 97 new and renewal leases during the three months ended June 30, 2021 for its clients. This includes 37 new leases for a total of 526,000 square feet, and 60 renewal leases for a total of 1.4 million square feet.

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

“Our portfolio continued to perform well during the three months ended June 30, 2021, with total leasing of two million square feet and a weighted average lease term of more than 13 years. Aggregate leasing activity for RMR’s fiscal year to date is 7.7 million square feet in 265 leases, which illustrates the ongoing leasing velocity we are seeing across our platform.”

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 standalone 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 over $32 billion in assets under management and leverage 35 years of institutional experience in buying, selling, financing and operating CRE. RMR benefits from a scalable platform, a deep and experienced management team and a diversity of direct real estate strategies across its clients. 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/20210820005051/en/

FAQ

What recent leasing activity has RMR announced?

RMR announced 97 new and renewal leases during Q2 2021, covering a total of 2 million square feet.

What is the total square footage leased by RMR for the fiscal year so far?

RMR has leased a total of 7.7 million square feet year-to-date across 265 leases.

How many properties does RMR manage?

RMR manages nearly 1,300 properties totaling approximately 91 million square feet.

What is the weighted average lease term for RMR's leases?

The weighted average lease term exceeds 13 years.

What is RMR's stock symbol?

RMR is traded under the stock symbol 'RMR' on Nasdaq.