Adjusted EBITDA Achievements
Reported adjusted EBITDA of $20.1 million for the quarter, in line with expectations.
Increase in REIT Share Prices and Incentive Fees
Share prices of managed REITs, particularly DHC and ILPT, have increased substantially year-to-date. This has resulted in potential incentive fees of over $17 million for RMR.
Expansion of Private Capital Initiatives
The private capital platform now totals over $12 billion, with plans to accumulate a portfolio of value-add multi-tenant retail assets of approximately $100 million.
Notable Residential Sector Investments
Anticipated closing of two value-add acquisitions in August for a total of $147 million, supporting the launch of the RMR Residential enhanced growth venture.
DHC's Solid Performance
DHC posted strong second quarter results, with the SHOP segment's same-property cash basis NOI increasing by 18.5% year-over-year.
ILPT's Successful Debt Refinancing
ILPT refinanced $1.2 billion of floating rate debt with new 5-year fixed rate debt at a weighted average interest rate of 6.4%.