- Aiming to quell investor concerns by more-aligning the interests of RMR Management and the REITs it manages, Senior Housing Properties (SNH), Hospitality Properties (HPT), Select Income REIT (SIR), and Government Properties Trust (GOV) are now the owners of about half of Reit Management & Research (RMR).
- The management agreements will RMR are all extended for 20-year terms.
- The REITs plan to distribute about half of their RMR shares to their shareholders, a move that will be facilitated by RMR's plan for a public listing.
- The total purchase price was $172.8M, $46.4M of which was paid in cash and the rest in restricted common shares subject to 10-year lockups. The REITs now own 48.4% of RMR.
- Source: Press Release