Office Properties Income Trust (OPI) is a real estate investment trust that owns, operates, and leases buildings mostly to single tenants and those with high credit quality characteristics, such as government institutions. OPI is managed by the operating subsidiary of The RMR Group Inc. (RMR), an alternative asset management firm based in Newton, Massachusetts.
OPI's first-quarter results showed that the company's overall performance remained favorable. It executed 572,000 square feet of new and renewal leasing with a 5.1% weighted average rent roll-up and a lease term of more than ten years. It completed almost one million square feet of fresh leasing over the last four quarters, concluding the first quarter with same-property occupancy of more than 91%.
