The RMR Group Reports Approximately 5.0 Million Square Feet of Leasing Activity for the Three Months Ended June 30, 2022

Rhea-AI Summary

The RMR Group (Nasdaq: RMR) announced the execution of 90 leases totaling approximately 5.0 million square feet during the three months ended June 30, 2022, doubling the previous quarter's activity. This included 40 leases with new tenants, accounting for 2.9 million square feet. The weighted average lease term is approximately 19.4 years, with a nearly 26% increase in rent. Strong demand was noted particularly in the industrial sector, driven by e-commerce growth.

Positive

• Executed 90 leases for approximately 5.0 million square feet, doubling previous quarter activity.
• Weighted average lease term of approximately 19.4 years.
• Nearly 26% increase in rent across leases.
• Strong performance in the industrial sector, driven by e-commerce demand.

Negative

• None.

90 Leases Executed for a Weighted Average Lease Term of Approximately 19.4 Years

NEWTON, Mass.--(BUSINESS WIRE)-- The RMR Group (Nasdaq: RMR) announced the execution of 90 leases for approximately 5.0 million square feet on behalf of its clients during the three months ended June 30, 2022, including 40 leases with new tenants for approximately 2.9 million square feet.

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

“During the third fiscal quarter, we executed approximately 5.0 million square feet of leases across our platform on behalf of our clients, more than double the previous quarter, with a weighted average lease term of approximately 19.4 years and a weighted average roll up in rent of nearly 26 percent. While there was momentum across all sectors, we saw particular strength in industrial, highlighting the continued robust demand for e-commerce and logistics properties.”

The RMR Group provides asset and property management services nationwide for nearly 1,400 properties with approximately 115 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 approximately 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/20220906005701/en/

Christopher Ranjitkar

Senior Director, Marketing & Corporate Communications

(617) 219-1473

Source: The RMR Group Inc.

FAQ

What is the recent leasing activity of RMR Group?

RMR Group executed 90 leases totaling approximately 5.0 million square feet during Q2 2022.

When did RMR Group execute these leases?

The leases were executed during the three months ended June 30, 2022.

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

The weighted average lease term was approximately 19.4 years.

What sectors showed strength in RMR Group's leasing activity?

The industrial sector showed particular strength, driven by e-commerce and logistics.

How much did the rent increase on average for RMR Group's leases?

The weighted average increase in rent was nearly 26%.