10/08/2020

The RMR Group Promotes Jennifer F. Francis to Executive Vice President

Head of Nationwide Real Estate Asset Management Becomes Second Woman EVP at $32 Billion Alternative Asset Manager

NEWTON, Mass.--(BUSINESS WIRE)-- The RMR Group Inc. (Nasdaq: RMR) today announced the promotion of Jennifer F. Francis to Executive Vice President, effective immediately. Ms. Francis will now be leading the entire asset management division of RMR, adding the senior living and hotel segments to her previous responsibilities of overseeing asset management for the office, industrial and retail segments and serving as President and Chief Operating Officer of Diversified Healthcare Trust (Nasdaq: DHC). Additionally, with the promotion of Ms. Francis, The RMR Group now has six Executive Vice Presidents, including two women.

Adam D. Portnoy, Managing Director, President and Chief Executive Officer of RMR, made the following statement about Ms. Francis’ promotion:

“Over the past 14 years, Jennifer has played a critical and integral role in executing on our business strategy and growing RMR into the nationwide $32 billion alternative asset manager it is today. She is directly responsible for the creation and growth of RMR’s real estate asset management team, which today is responsible for all RMR-managed properties, overseeing more than 1,800 leases and close to 92 million square feet of commercial office, industrial, medical office, life science and retail space. Jennifer’s contributions to RMR are invaluable and I am confident she will continue to excel at RMR and continue to drive value for our shareholders and client companies.”

Ms. Francis currently serves as President and Chief Operating Officer of Diversified Healthcare Trust (Nasdaq: DHC) and is also responsible for asset management and leasing activities at all RMR managed properties. Ms. Francis has more than 30 years of experience working in the commercial real estate industry. She is on the Executive Board of the American Seniors Housing Association (ASHA), a member of the National Association of Industrial and Office Properties (NAIOP) and a member of the Commercial Real Estate Women (CREW). Ms. Francis has been recognized by Real Estate Forum Magazine as a 2020 Woman of Influence and by Connect Media as one of its 2019 Women in Real Estate.

The RMR Group Inc. 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 primarily provides management services to publicly traded REITs and real estate operating companies. As of June 30, 2020, The RMR Group LLC had $32.0 billion of total assets under management, including over 2,100 properties, and employed over 600 real estate professionals in more than 30 offices throughout the United States; and the companies managed by The RMR Group LLC collectively had nearly 45,000 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:

  • The appointment of Ms. Francis and the enumeration of her qualifications may imply that RMR’s business and operations will improve as a result of her appointment. However, RMR’s business and operations are subject to various risks, many of which are beyond its control. As a result, RMR’s business and operations may not improve despite the appointment of Ms. Francis.
  • Mr. Portnoy states that he believes Ms. Francis will continue to drive value for RMR’s shareholders and client companies. However, there can be no assurance that the promotion of Ms. Francis will provide any benefit to RMR’s shareholders or client companies.
  • This press release also notes recent recognitions received by Ms. Francis. These recognitions express only the views of Real Estate Forum Magazine and Connect Media, as applicable, and should not be taken as an endorsement of Ms. Francis’ promotion or a guarantee of future success.

For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Except as required by law, RMR does not intend to update or change any forward-looking statements as a result of new information, future events, or otherwise.

Michael Kodesch, Director, Investor Relations
(617) 796-8230

Source: The RMR Group Inc.

Cautionary Language

The information appearing in RMR's website includes statements which constitute forward looking statements. These forward looking statements are based upon RMR's present intents, beliefs or expectations, but forward looking statements are not guaranteed to occur and may not occur. RMR's actual results may differ materially from those contained in RMR's forward looking statements. The information contained in RMR's filings with the Securities and Exchange Commission (SEC), including under “Risk Factors” and “Warnings Concerning Forward Looking Statements” in RMR's periodic reports and other filings, identifies important factors that could cause RMR's actual results to differ materially from those stated or implied in RMR's forward looking statements. RMR's filings with the SEC are available on the SEC’s website at www.sec.gov and are also accessible on RMR's website at the following link: SEC Filings. You should not place undue reliance upon forward looking statements. Except as required by law, RMR does not intend to update or change any forward looking statements as a result of new information, future events or otherwise.

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