RMR Executes 42 New and 60 Renewal Leases with Weighted Average Lease Term of Approximately 10 Years in Q4 2021
For Fiscal 2021, RMR Executes Approximately 10.5 Million Square Feet of Leasing
NEWTON, Mass.--(BUSINESS WIRE)--
The RMR Group (Nasdaq: RMR) today announced the execution of 102 new and renewal leases during the three months ended September 30, 2021 for its clients. This includes 42 new leases for 524,000 square feet, and 60 renewal leases for 2.3 million square feet. During the fiscal year ended September 30, 2021, RMR executed 364 new and renewal leases for its clients, including 135 new leases for 1.9 million square feet and 229 renewal leases for 8.6 million square feet.
Adam Portnoy, President & Chief Executive Officer, made the following statement:
“Despite the pandemic related headwinds, RMR’s platform delivered another strong quarter of leasing activity, as we executed more than 2.8 million square feet of new and renewal leases on behalf of our clients, which is an increase of 40% compared to the previous quarter. For fiscal year 2021, we negotiated over 10.5 million square feet of leasing transactions, or a 39% increase compared to fiscal 2019’s pre-pandemic levels.”
The RMR Group provides 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 $32 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.