NEWTON, Mass.--(BUSINESS WIRE)--
The RMR Group Inc. (Nasdaq: RMR) today announced that a total of $120.1
million of incentive business management fees have been earned for the
2018 calendar year from certain client companies based upon the three
year measurement periods ended December 31, 2018. The incentive business
management fees were earned as follows (dollars in millions):
|
|
|
Client Company
|
|
Incentive Fees
Earned
|
Hospitality Properties Trust
|
|
$
|
53.6
|
Senior Housing Properties Trust
|
|
40.7
|
Select Income REIT
|
|
25.8
|
|
|
$
|
120.1
|
|
|
|
|
Incentive business management fees are payable annually in January
following the year in which they are earned.
More information concerning the calculation of the incentive business
management fee can be found under the heading “Incentive Fee” in each
managed company’s most recent Annual Report on Form 10-K filing, which
is available on the Securities and Exchange Commission’s website located
at www.sec.gov.
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. The RMR Group LLC is an alternative asset management
company that was founded in 1986 to invest in real estate and manage
real estate related businesses. RMR's business primarily consists of
providing management services to five publicly owned real estate
investment trusts, or REITs, and three real estate related operating
companies. As of September 30, 2018, The RMR Group LLC had approximately
$30.1 billion of total assets under management, including more than
1,700 properties, and employed almost 600 real estate professionals in
more than 30 offices throughout the United States; the companies managed
by The RMR Group LLC collectively had over 52,000 employees. The RMR
Group Inc. is headquartered in Newton, Massachusetts.
WARNING REGARDING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE
MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND
OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON
RMR’S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE STATEMENTS AND THE
IMPLICATIONS OF THESE STATEMENTS ARE NOT GUARANTEED TO OCCUR AND MAY NOT
OCCUR FOR VARIOUS REASONS, SOME OF WHICH ARE BEYOND RMR’S CONTROL. FOR
EXAMPLE, THIS PRESS RELEASE REPORTS THAT AGGREGATE INCENTIVE BUSINESS
MANAGEMENT FEES OF $120.1 MILLION HAVE BEEN EARNED FROM CERTAIN CLIENT
COMPANIES FOR THE YEAR ENDED DECEMBER 31, 2018. AN IMPLICATION OF THIS
STATEMENT MAY BE THAT INCENTIVE BUSINESS MANAGEMENT FEES MAY BE EARNED
IN THE FUTURE. THE INCENTIVE BUSINESS MANAGEMENT FEES WHICH MAY BE
EARNED ARE BASED UPON TOTAL RETURNS REALIZED BY THE SHAREHOLDERS
COMPARED TO THE TOTAL SHAREHOLDERS RETURN OF CERTAIN IDENTIFIED INDICES.
RMR HAS LIMITED CONTROL OVER THE TOTAL RETURNS REALIZED BY SHAREHOLDERS
OF ITS CLIENT COMPANIES AND EFFECTIVELY NO CONTROL OVER INDEXED TOTAL
RETURNS. THERE CAN BE NO ASSURANCE THAT INCENTIVE BUSINESS MANAGEMENT
FEES WILL BE EARNED IN THE FUTURE.
FOR THE FOREGOING REASONS, AMONG OTHERS, INVESTORS IN THE RMR GROUP INC.
SECURITIES ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON FORWARD
LOOKING STATEMENTS. EXCEPT AS REQUIRED BY LAW, THE RMR GROUP INC.
UNDERTAKES NO OBLIGATION TO UPDATE ANY FORWARD LOOKING STATEMENT,
WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190114005515/en/
Timothy A. Bonang, Senior Vice President
(617) 796-8230
Source: The RMR Group Inc.