RMR Group Secures New 5-Year Management Agreements with OPI Post-Bankruptcy

summarizeSummary

RMR Group's subsidiary, RMR LLC, finalized new five-year management agreements with Office Properties Income Trust (OPI) following OPI's emergence from Chapter 11 bankruptcy, securing future revenue and an equity stake.

check_boxKey Events

• OPI Emerges from Chapter 11

  Office Properties Income Trust (OPI) successfully emerged from Chapter 11 bankruptcy on June 17, 2026, resolving a significant financial distress event for a key managed entity of RMR Group.

• New 5-Year Management Agreements

  RMR LLC, a majority-owned subsidiary of RMR Group, entered into new Third Amended and Restated Business and Property Management Agreements with OPI, each with an initial term of five years.

• Secured Annual Management Fee

  The new Business Management Agreement provides RMR LLC with an annual fee of $14.0 million for the first two years, establishing a stable and material revenue stream.

• Equity Stake in OPI

  RMR LLC will receive OPI common shares equal to 2% of OPI's common equity immediately, with the potential for an additional 8% upon OPI achieving certain financial and performance metrics.

auto_awesomeAnalysis

This filing confirms Office Properties Income Trust (OPI) has emerged from Chapter 11 bankruptcy, a significant positive development for RMR Group Inc. as OPI is a key managed entity. The new five-year management agreements secure a substantial annual fee of $14.0 million for the first two years and provide RMR LLC with an immediate 2% equity stake in OPI, with potential for an additional 8% based on performance. This resolution provides long-term revenue visibility and aligns RMR's interests with OPI's recovery, removing a major uncertainty that has weighed on the company.