RMR Executes 108 Leases for a Weighted Average Lease Term of Approximately 8.5 Years during the Three Months Ended December 31, 2021
NEWTON, Mass.--(BUSINESS WIRE)--
The RMR Group (Nasdaq: RMR) today announced the execution of 108 leases comprising approximately 4.0 million square feet for its clients during the three months ended December 31, 2021, including 49 new leases for 663,000 square feet. Total leasing volume for the three months ended December 31, 2021 represented a 39% sequential increase over the 2.8 million square feet of leasing reported for the three months ended September 30, 2021 and a 76% increase over the 2.3 million square feet reported for the three months ended December 31, 2020.
Adam Portnoy, President & Chief Executive Officer, made the following statement:
“Our leasing volume in the first quarter of fiscal 2022 represented strong growth on a sequential basis and when compared to pre-pandemic 2019 levels. This quarter’s leasing activity was the highest level we have seen over the past decade and was spread broadly across all the real estate sectors we manage.”
The RMR Group provides asset and property management services nationwide for nearly 1,300 properties with approximately 91 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 more than 600 real estate professionals in over 30 offices nationwide who manage over $33 billion in assets under management and leverage 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.
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Christopher Ranjitkar
Senior Director, Marketing & Corporate Communications
(617) 219-1473
Source: The RMR Group Inc.