NEWTON, Mass.--(BUSINESS WIRE)--The RMR Group Inc. (Nasdaq: RMR) today announced the execution of 79 new and renewal leases totaling approximately 3.4 million square feet during the three months ended March 31, 2021 for its clients. This includes 32 new leases for a total of approximately 480,000 square feet, and 47 renewal leases for a total of over 2.9 million square feet.
Adam Portnoy, President & Chief Executive Officer, made the following statement:
“We are pleased with the continued leasing momentum across our nationwide portfolio during the first three months of 2021. RMR executed approximately 3.4 million square feet of new and renewal leases, an increase both sequentially and year-over-year, with a weighted average lease term of approximately nine years.”
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 stand-alone property management services to third-parties.
About The RMR Group
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, or RMR. 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 its more than 600 real estate professionals in over 30 offices nationwide who manage approximately $32 billion in assets under management and leverage 35 years of institutional experience in buying, selling, financing and operating CRE. RMR is headquartered in Newton, MA and was founded in 1986. For more information, please visit www.rmrgroup.com.