Welcome to our dedicated page for RMR Group news (Ticker: RMR), a resource for investors and traders seeking the latest updates and insights on RMR Group stock.
The RMR Group Inc. (Nasdaq: RMR) is a U.S. alternative asset management company focused on residential and commercial real estate and related businesses. News about RMR often centers on its role as manager of multiple publicly traded REITs and its own corporate and financial developments.
On this page, readers can follow RMR stock news and updates related to its management activities, including announcements of quarterly dividends on RMR’s Class A and Class B-1 common shares and incentive business management fees earned from client companies. Recent releases have highlighted incentive fees earned from Diversified Healthcare Trust and Industrial Logistics Properties Trust, reflecting performance-based elements of RMR’s management arrangements.
Because RMR manages several REITs, its news flow is closely connected to developments at those client entities. Press releases from Diversified Healthcare Trust, Industrial Logistics Properties Trust and Service Properties Trust explicitly state that they are managed by The RMR Group, and their business updates, capital recycling programs, portfolio changes and dividend announcements are often referenced alongside RMR’s role as manager.
Investors and observers can also find information about RMR’s executive appointments, conference calls to discuss quarterly results and its involvement in restructuring-related agreements for managed REITs, as disclosed in Form 8-K filings. By monitoring this news feed, users can track how The RMR Group’s asset management activities, fee structures and client relationships evolve over time within the broader real estate sector.
Service Properties Trust (Nasdaq: SVC) has announced the pricing for its cash tender offer to purchase all of its outstanding $350 million 4.50% Senior Notes due 2025. The offer is detailed in an Offer to Purchase and Consent Solicitation Statement dated May 15, 2024. The total consideration is based on the yield to maturity of the applicable U.S. Treasury Security plus a fixed spread of 35 basis points. The total consideration per $1,000 principal amount is $991.33. The deadline to withdraw tenders has passed, and the settlement date is expected to be June 3, 2024. Citigroup Global Markets Inc. is acting as the dealer manager.
Service Properties Trust (Nasdaq: SVC) announced the early tender results for its $350 million 4.50% Senior Notes due 2025.
As of 5:00 p.m. on May 29, 2024, $271.96 million in principal amount of the Notes were validly tendered and accepted.
Noteholders who tendered their notes by the Early Tender Deadline will receive a total consideration determined by a fixed spread over the yield to maturity of a specified U.S. Treasury security, including an early tender payment of $50 per $1,000 principal amount.
The expected settlement date for tendered notes is June 3, 2024, subject to satisfaction or waiver of all conditions. Additionally, consents were solicited for amendments to the indenture governing the Notes, which SVC intends to effect for any Notes not purchased in the offer.
Office Properties Income Trust (Nasdaq: OPI) announced amendments to its private exchange offers for existing unsecured senior notes due 2025, 2026, 2027, and 2031. The amendments include updated Acceptance Priority Levels and Priority Amounts for the notes, extending the expiration time to June 10, 2024. The company will exchange the existing notes for new 9.000% Senior Secured Notes due 2029. The total amount of new notes to be issued is capped at $610 million. The offer is only available to qualified institutional buyers in the U.S. or non-U.S. persons in compliance with Regulation S. The new notes and related guarantees will not be registered under the Securities Act of 1933.
Office Properties Income Trust (Nasdaq: OPI) has amended its previously announced private exchange offers for its senior unsecured notes due 2025, 2026, 2027, and 2031. These notes will now be exchanged for new 9.000% Senior Secured Notes due 2029. The amendments include changes to the acceptance priority levels and new priority amounts. The maximum principal amount issued remains $610 million. The expiration time for these offers has been extended to June 4, 2024. As of May 17, 2024, OPI received tenders representing $399.1 million in aggregate principal amount of the existing notes. The offers are being made to qualified institutional buyers in the US and non-US persons outside the US. The new notes will not be registered under the Securities Act, meaning they are subject to transfer restrictions.
Service Properties Trust (SVC) has priced underwritten public offerings of $700 million of 8.375% Senior Guaranteed Unsecured Notes due 2029 and $500 million of 8.875% Senior Guaranteed Unsecured Notes due 2032. These notes will be guaranteed by certain subsidiaries and are expected to settle on June 3, 2024, subject to customary closing conditions.
SVC plans to use the proceeds to redeem $800 million of its 7.50% senior unsecured notes due 2025, and to fund the purchase of $350 million of its 4.50% senior unsecured notes due 2025, including any premiums and accrued interest. Any remaining proceeds will be used for general business purposes.
Citigroup, BofA Securities, J.P. Morgan, BMO Capital Markets, Goldman Sachs, Morgan Stanley, PNC Capital Markets, UBS Securities, and Wells Fargo Securities are the joint book-running managers for the offerings.
Service Properties Trust (Nasdaq: SVC) has initiated a cash tender offer to purchase its outstanding $350,000,000 4.50% Senior Notes due 2025. This offer includes a consent solicitation for amendments to the indenture governing these notes. The offer expires on June 13, 2024, with an early tender deadline of May 29, 2024. Holders tendering by the early deadline receive an additional $50 per $1,000 principal amount. The offer is contingent upon the issuance of new senior unsecured notes, generating sufficient proceeds for the repurchase and settlement of the outstanding notes. Settlement dates are June 3, 2024, and June 17, 2024, for early and final tenders, respectively.
The RMR Group has appointed Summit Walia as Vice President, Head of Residential Acquisitions. Walia brings over 20 years of real estate investment experience, having previously closed $5.2 billion in acquisitions, including $4.1 billion in the residential sector. He previously held key roles at LaSalle Investment Management and JP Morgan Asset Management. This strategic hire emphasizes RMR's commitment to residential real estate and its focus on expanding its private capital assets under management. RMR Residential, which has $5.5 billion in assets, aims to broaden its investor base and enhance its product and service offerings.
Service Properties Trust (Nasdaq: SVC) announced its Q1 2024 financial results, owning over $11 billion in hotels and retail properties. The results can be accessed on SVC's website. The company held a conference call to discuss the results and is managed by The RMR Group. SVC is a real estate investment trust with a strong presence in the US.
The RMR Group Inc. (Nasdaq: RMR) announced its financial results for the fiscal quarter ended March 31, 2024. The press release includes information on the Quarterly Results section of RMR's website. A conference call to discuss the results is scheduled for May 8, 2024. Details for accessing the call and webcast are provided.
Diversified Healthcare Trust (Nasdaq: DHC) reported its financial results for the first quarter of 2024, available on their website. A conference call discussing the results will be held on May 7, 2024. The press release can be accessed through the provided links.
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