Business
RMR Mortgage Trust Completes Transition to a Commercial Mortgage REIT
No Longer an Investment Company Under Investment Company Act of 1940 Announces Management and Board Changes Enters New Business Management Agreement with
About this update from The Rmr Group Inc.
[{"type":"text","content":"\nNo Longer an Investment Company Under Investment Company Act of 1940\n\nAnnounces Management and Board Changes\n\nEnters New Business Management Agreement with Tremont Realty Advisors\n\n NEWTON, Mass.--(BUSINESS WIRE)--\nRMR Mortgage Trust (Nasdaq: RMRM) today announced that the Securities and Exchange Commission, or SEC, has issued an order granting RMRM’s request to deregister as an investment company under the Investment Company Act of 1940, or the Deregistration Order. The issuance of the Deregistration Order enables RMRM to proceed with full implementation of its new business mandate to operate as a commercial mortgage REIT. As a commercial mortgage REIT, RMRM is focused primarily on originating and investing in first mortgage whole loans secured by middle market and transitional commercial real estate. To date, RMRM has liquidated all of its legacy investment securities and has closed five loans totaling $111.7 million in aggregate commitments.\n\nRMRM also announced changes to its Board of Trustees and executive officers. Thomas J. Lorenzini has been appointed President and G. Douglas Lanois has been appointed Chief Financial Officer and Treasurer. Mr. Lorenzini and Mr. Lanois succeed Fernando Diaz and Brian E. Donley, respectively, who have resigned from RMRM, effective January 5, 2021.\n\nMr. Lorenzini is a Vice President of The RMR Group and President of Tremont Mortgage Trust (Nasdaq: TRMT). He is also a Vice President of Tremont Realty Advisors LLC, an SEC registered investment adviser and an indirect subsidiary of The RMR Group Inc. (Nasdaq: RMR). Mr. Lorenzini has over 25 years of experience in the real estate industry.\n\nMr. Lanois is a Senior Vice President of The RMR Group and Senior Vice President, Chief Financial Officer and Treasurer of Tremont Realty Advisors LLC. He also serves as Chief Financial Officer and Treasurer of TRMT. Mr. Lanois has over 30 years of real estate experience.\n\nIn addition, RMRM announced that Matthew P. Jordan has been appointed a Managing Trustee, effective January 5, 2021. He succeeds Jennifer B. Clark, who is resigning from her position on RMRM’s Board of Trustees, effective January 5, 2021. Mr. Jordan is also a Director and the President and Chief Executive Officer of Tremont Realty Advisors LLC as well as a Managing Trustee of TRMT. Mr. Jordan joined The RMR Group in 2012 a...