NEWTON, Mass.--(BUSINESS WIRE)--Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced that it was named one of the fastest growing middle market companies in Massachusetts by the Boston Business Journal (BBJ) in its 2022 Middle Market Leaders ranking. ILPT ranked 32nd on the list, which incorporates the BBJ’s analysis of revenue growth of companies with revenue between $25 million and $1 billion for 2018, 2019 and 2020. This is the second consecutive year that ILPT appears on the list after ranking 49th last year.
Yael Duffy, Chief Operating Officer of ILPT, made the following statement:
“We are proud to have ILPT’s growth recognized by the Boston Business Journal for the second year in a row. ILPT’s ranking among the fastest growing middle market companies in Massachusetts reflects our successful advancement of ILPT’s business strategy focused on investing in industrial real estate that serves the growing needs of e-commerce.”
ILPT is a client of The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with more than $33 billion in assets under management. RMR earned the top ranking on the BBJ’s 2020 Middle Market Leaders list. Office Properties Income Trust (Nasdaq: OPI), another client of The RMR Group, placed 29th on the 2022 Middle Market Leaders list, which is the third consecutive year that OPI appears on the list.
About Industrial Logistics Properties Trust
Industrial Logistics Properties Trust (Nasdaq: ILPT) is a real estate investment trust, or REIT, focused on owning and leasing high quality distribution and logistics properties that serve the growing needs of e-commerce. As of December 31, 2021, ILPT’s portfolio consisted of 288 properties containing 34 million rentable square feet in 31 states. More than 70% of ILPT’s annual rental revenues are derived from investment grade tenants, tenants that are subsidiaries of investment grade rated entities or Hawaii land leases. On February 25, 2022, ILPT closed its acquisition of Monmouth Real Estate Investment Corporation, adding 126 Class A, single tenant, net leased, e-commerce focused industrial properties containing over 26 million square feet of space. ILPT is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company. ILPT is headquartered in Newton, MA. For more information, visit ilptreit.com.
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.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.