The RMR Group Reports 1.9 Million Square Feet of Leasing Activity for the Three Months Ended March 31, 2022

Rhea-AI Summary

The RMR Group (Nasdaq: RMR) reported the execution of 93 leases totaling approximately 1.9 million square feet during Q1 2022. This includes 35 leases with new tenants for about 714,000 square feet, showcasing strong leasing momentum and a weighted average lease term of approximately 9 years. President & CEO Adam Portnoy emphasized the ongoing robust leasing activity across all property types managed. RMR oversees nearly 1,400 properties with $37 billion in assets under management, utilizing a vertically integrated approach to asset management.

Positive

• Executed 93 leases totaling approximately 1.9 million square feet.
• 35 leases with new tenants covering about 714,000 square feet.
• Strong leasing momentum indicates robust market demand.
• Weighted average lease term of approximately 9 years enhances stability.
• Management oversees nearly 1,400 properties with $37 billion in assets.

Negative

• None.

93 Leases Executed for a Weighted Average Lease Term of Approximately 9.0 Years

NEWTON, Mass.--(BUSINESS WIRE)-- The RMR Group (Nasdaq: RMR) announced the execution of 93 leases for approximately 1.9 million square feet on behalf of its clients during the three months ended March 31, 2022, including 35 leases with new tenants for approximately 714,000 square feet.

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

“Strong leasing momentum continued into the second fiscal quarter as we leased approximately 1.9 million square feet on behalf of our clients, with a weighted average lease term of approximately nine years and sizable roll-ups in rent across our platform. We remain encouraged by our recent trend of robust leasing results across all property types that we manage.”

The RMR Group provides asset and property management services nationwide for nearly 1,400 properties with approximately 116 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 (Nasdaq: 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 nearly 600 real estate professionals in over 30 offices nationwide who manage over $37 billion in assets under management and leverage more than 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/20220523006071/en/

Christopher Ranjitkar

Senior Director, Marketing & Corporate Communications

(617) 219-1473

Source: The RMR Group Inc.

FAQ

What did RMR Group announce in their recent press release?

RMR Group announced the execution of 93 leases totaling approximately 1.9 million square feet in Q1 2022.

How many leases did RMR Group execute with new tenants?

RMR Group executed 35 leases with new tenants for approximately 714,000 square feet.

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

The weighted average lease term for RMR Group's recent leases is approximately 9 years.

How many properties does RMR Group manage?

RMR Group manages nearly 1,400 properties.

What is the total assets under management by RMR Group?

RMR Group has approximately $37 billion in assets under management.