REIT Management & Research is founded in Newton, Massachusetts by Barry Portnoy and Gerard Martin to provide management services to publicly traded real estate companies. Established at a time when the REIT industry was still developing, the firm was built on the belief that specialized management expertise could help real estate companies operate more effectively and create long-term value for shareholders. This foundation would serve as the basis for what later became RMR Group.

Health and Rehabilitation Properties Trust begins trading on the New York Stock Exchange, becoming the first publicly traded real estate company managed by RMR and marking the start of the firm's public-market platform.

Hospitality Properties Trust is formed, expanding the platform beyond healthcare real estate and establishing a dedicated hospitality investment strategy. The launch represented an important step in broadening RMR's sector expertise and demonstrated its ability to identify opportunities across different areas of the commercial real estate market. The company was later renamed Service Properties Trust.

Senior Housing Properties Trust is formed under RMR management, expanding the platform's presence in healthcare real estate and senior living. The new REIT was established to address growing demand for seniors housing and healthcare-related properties, further diversifying the portfolio of real estate sectors managed by RMR. The company was later renamed Diversified Healthcare Trust.

Five Star Senior Living (later AlerisLife) is spun off as a senior-living operating company, one of several RMR-Managed Operating Companies.

TravelCenters of America is spun off from Hospitality Properties Trust as a separately traded, RMR-managed operating company. Operating a nationwide network of travel centers and truck-service locations, the company expanded the platform into a new business category and became a significant tenant within Hospitality Properties Trust's portfolio. Following TravelCenters of America's acquisition by BP in 2023, BP became Service Properties Trust's largest tenant, with RMR continuing to manage the underlying real estate leased to and operated by BP across North America.

Government Properties Income Trust is established as a publicly traded office REIT focused on properties leased to government agencies and other mission-critical tenants. The launch broadened RMR's office sector presence while adding a portfolio characterized by long-term tenancy and stable occupancy. The company later became part of Office Properties Income Trust.

The acquisition of Sonesta International Hotels adds a global hospitality operating platform and significantly expands RMR's presence in the lodging sector. Beyond real estate ownership, the transaction brought hotel management and operational capabilities into the broader platform, creating new opportunities for strategic growth and integration across hospitality assets.

Select Income REIT launches as a publicly traded REIT focused on net lease and industrial properties. The addition of industrial and logistics-related assets further diversified the platform and expanded RMR's expertise into sectors that would become increasingly important to the evolving economy and supply chain landscape.

REIT Management & Research becomes The RMR Group Inc. and begins trading on Nasdaq under the ticker RMR. The transaction represented a significant evolution for the business, increasing transparency, aligning interests between RMR and managed REIT shareholders and establishing the public company structure that continues to support the organization today. The change also reflected the growing scale and complexity of the platform that had developed over nearly three decades.

RMR acquires Tremont Realty Capital, establishing a dedicated commercial real estate credit platform. The acquisition expanded RMR's capabilities beyond equity real estate investing and management, providing access to commercial real estate lending and private credit strategies that would become an increasingly important component of the broader platform.

Industrial Logistics Properties Trust (Nasdaq: ILPT) is launched through the separation of Select Income REIT's industrial portfolio into a standalone public REIT. Focused exclusively on industrial and logistics real estate, the new company further strengthens RMR's presence in a key sector.

Government Properties Income Trust merges with Select Income REIT, creating Office Properties Income Trust (Nasdaq: OPI). The combination brings together complementary office and industrial portfolios under a single organization and enhances scale while simplifying the broader platform's public REIT structure.

Hospitality Properties Trust is renamed Service Properties Trust (Nasdaq: SVC). The new identity reflects the company's evolution beyond traditional lodging assets and acknowledges the growing role of service-oriented net lease retail properties within the portfolio. The rebrand better aligns the company's name with its diversified business mix and long-term strategy.

Senior Housing Properties Trust adopts the name Diversified Healthcare Trust (Nasdaq: DHC), reflecting the growing diversity of its portfolio, which includes a mix of senior living communities, medical office properties, life science facilities and wellness-focused assets.

RMR Mortgage Trust merges with Tremont Mortgage Trust to form Seven Hills Realty Trust (Nasdaq: SEVN). The transaction consolidates RMR's commercial mortgage lending REITs into a larger, more focused platform designed to support growth and capital deployment opportunities. Today, SEVN is managed by Tremont Realty Capital and serves as an important component of RMR's broader credit business.

RMR enters the multifamily sector at scale through the acquisition of CARROLL. The transaction significantly expands the firm's private capital and residential capabilities, adding a large multifamily operating platform and creating new opportunities across property operations, investment management and residential asset management. The acquisition represents one of the most significant expansions in the company's history.

RMR introduces a new brand identity and digital platform that reflects its evolution from a real estate manager into a diversified alternative asset management company spanning public and private capital strategies.

RMR celebrates its 40th anniversary, ringing the Nasdaq closing bell in Times Square. Today, RMR manages approximately $37 billion in assets across public and private strategies spanning real estate equity, private credit and residential investments, supported by a national platform of real estate professionals.