RMR Group Inc Stock Price, News & Analysis

Seven Hills Realty Trust (SEVN) has announced the closing of a $45.0 million first mortgage floating rate bridge loan to finance the acquisition of Club Quarters Hotel in Boston, Massachusetts. The 178-room hotel is located at 161 Devonshire Street, near major attractions including the Massachusetts State House, Faneuil Hall, and Boston Common.

The loan features a three-year initial term with two one-year extension options, subject to borrower requirements. The transaction was facilitated by JLL, who advised the borrower, Arch & Devonshire The deal showcases SEVN's commitment to identifying and executing strategic loan investment opportunities to generate attractive risk-adjusted returns for shareholders.

Seven Hills Realty Trust (SEVN) has elected Ann M. Danner as an Independent Trustee to its Board of Trustees, effective immediately. This appointment expands the board to seven members, with 71% being independent trustees. Danner, who founded RHA Advisors in 2018, brings over 40 years of real estate industry experience, particularly in residential and multifamily development. She previously served as CEO of Residential Homes of America, Inc., which she founded in 1986. The appointment aims to leverage her expertise in creating value for SEVN's shareholders. Korn Ferry assisted in the trustee placement process.

Office Properties Income Trust (OPI) has completed a private exchange of its 4.50% senior unsecured notes due 2025. The exchange involves $340 million of 2025 Notes for: $445 million of new 3.25% senior secured notes due 2027, approximately 11.5 million shares of OPI common stock, and $25.0 million in premiums. OPI plans to handle the remaining $113.1 million of 2025 Notes before their February 2025 maturity.

The new 2027 Notes require quarterly principal payments of $6.5 million and a mandatory $125 million payment by March 2026. These notes are secured by first-priority liens on 35 properties worth approximately $1.3 billion and second-priority liens on 19 properties worth about $717 million.

Seven Hills Realty Trust (Nasdaq: SEVN) has closed a $42.0 million first mortgage floating rate bridge loan to refinance The Domain at Oxford, a 642-bed student housing property near the University of Mississippi. The loan has a three-year initial term with two one-year extension options, contingent on the borrower meeting specific requirements. SEVN’s manager, Tremont Realty Capital, was introduced to the transaction by Newmark, which advised the sponsor, Shore to Shore Properties. Tom Lorenzini, President and Chief Investment Officer of SEVN, highlighted the growing demand for quality student housing due to rising enrollment at the university, emphasizing the loan's potential to generate attractive risk-adjusted returns for shareholders.

Office Properties Income Trust (OPI) has entered into a private exchange agreement with noteholders to address its 2025 debt maturities. The agreement allows for exchanging up to $340 million of the $453.6 million outstanding senior unsecured notes due 2025. Noteholders will receive $445 million new senior secured notes due 2027, approximately 11.5 million shares of OPI common stock (19.9% of outstanding shares), and cash for accrued interest. The 2027 Notes will have a 3.25% interest rate, requiring quarterly principal amortization of $6.5 million and a $125 million mandatory repayment by March 2026. The notes will be secured by first-priority liens on 35 properties worth $1.3 billion and second-priority liens on 19 additional properties.

The RMR Group announced its financial results for the fiscal quarter ended September 30, 2024. The company will hold a conference call to discuss these results on November 12, 2024 at 10:00 a.m. Eastern Time. Interested parties can access the call by dialing (844) 481-2945 from the U.S. and Canada, or (412) 317-1868 from other locations. A replay will be available for one week using passcode 4257057. Additionally, a live audio webcast will be available on RMR's website.

Service Properties Trust (Nasdaq: SVC) has released its financial results for Q3 2024. The real estate investment trust manages a portfolio valued at over $11 billion, consisting of 214 hotels with over 36,000 guest rooms across the United States, Puerto Rico, and Canada, along with 745 service-focused retail net lease properties covering more than 13.3 million square feet throughout the United States. SVC is managed by The RMR Group, which has nearly $41 billion in assets under management as of September 30, 2024.

Diversified Healthcare Trust (Nasdaq: DHC) announced its financial results for the third quarter ended September 30, 2024. The company has made the detailed results available on their website in the Quarterly Reports section.

A conference call to discuss the results is scheduled for Tuesday, November 5, 2024, at 10:00 a.m. Eastern Time. Investors can access the call via phone or through a live audio webcast on DHC's website.

Office Properties Income Trust (Nasdaq: OPI) has announced its financial results for the third quarter ended September 30, 2024. The detailed results are available on the company's website in the Quarterly Results section. A conference call to discuss the results is scheduled for Thursday, October 31, 2024, at 10:00 a.m. Eastern Time, accessible via phone or webcast through the company's website.