The Rmr Group Inc. · NASDAQ:RMR
The Rmr — RMR Group — Investor Presentation (June 2025)
28 slides from The Rmr's investor presentation, Jun 2, 2025
Slide 1: Investor Presentation June 2025
1 Investor Presentation June 2025
Slide 2: Forward-looking statements disclaimer
2 This presentation contains information about Service Properties Trust, Diversified Healthcare Trust, Office Properties Income Trust, Industrial Logistics Properties Trust and Seven Hills Realty Trust (together, the REITs). The information regarding each REIT (each, a company) has been provided sol
Slide 3: Overview of The RMR Group (Nasdaq: RMR)
3 Overview of The RMR Group (Nasdaq: RMR)
Slide 4: Compelling Investment Opportunity
4 1 Diversified revenue sources from perpetual capital and private capital clients spanning all major commercial real estate sectors. Durable earnings resulting from nearly 70% of services revenues derived from 20-year evergreen contracts with significant termination provisions. Attractive fee upsid
Slide 5: A Dynamic Alternative Asset Manager Focused Solely on Real Estate
5 Private Clients A Dynamic Alternative Asset Manager Focused Solely on Real Estate Approximately $40 Billion in AUM RMR Platform Approximately 1,900 Properties More than 35 Offices Nationwide Over 900 Real Estate Professionals National Multi-Sector Investment Platform Industrial Residential Senior
Slide 6: Vertically Integrated Platform
6 Vertically Integrated Platform Accounting Marketing Human Resources Investor Relations Property Management Development Finance Legal Information Technology Project Management Tax Portfolio Management Transactions Asset Management Key Differentiators • Deep Bench of Experienced Professionals: Marke
Slide 7: Perpetual and Private Capital Assets Under Management
7 Hotel 17% Industrial 17% Office 15% Senior Living 14% Retail 13% Residential 12% Medical Office & Life Science 12% $26B $27B $28B $30B $33B $32B $33B $37B $36B $41B $40B 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 FQ2 Perpetual Capital Private Capital Perpetual and Private Capital Asset
Slide 8: AUM by Client Type
8 AUM by Client Type Vertically integrated platform focused on multifamily properties across the Sunbelt. $4.7B Industrial Real Estate Funds Portfolio of “Core Plus” industrial real estate. $4.0B Medical Office & Life Science Real Estate Funds Portfolio of “Core Plus” medical office and life science
Slide 9: RMR's Significant Contractual Relationships
9 RMR earns fees pursuant to Business Management and Property Management Agreements that renew each year for successive 20-year terms. • Business management revenues principally consist of monthly fees generally based on 50 bps per annum multiplied by the lower of: (1) the historical cost of real es
Slide 10: Track Record of Attractive Cash Flows and Well Covered Dividend
10 $92M $100M$107M $120M $108M $91M $93M $106M $102M $91M $40M 55% 57% 57% 59% 57% 51% 51% 51% 51% 45% 41% -40% -30% -20% -10% 0% 10% 20% 30% 40% 50% 60% $0 $20 $40 $60 $80 $100 $120 $140 $160 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 YTD Adjusted EBITDA Adjusted EBITDA Margin Track Rec
Slide 11: Positioned for Growth
11 Positioned for Growth
Slide 12: Multiple Levers to Drive Growth
12 Multiple Levers to Drive Growth • Diverse client platform allows RMR to capitalize on strategic opportunities across sectors and navigate real estate cycles. • Significant opportunity to grow annual base business management fee (~$66 million) and incentive fees (2016 – 2019 annual average of ~$10
Slide 13: Significant Upside Potential as Managed Equity REIT Share Prices Recover
13 ILPT: • With no debt maturities until 2027, focused on driving operational excellence (tenant retention, maximizing rental rate growth and continued organic cash flow growth). Significant Upside Potential as Managed Equity REIT Share Prices Recover 1 Illustrates the approximate incremental impact
Slide 14: Positioned to Capitalize on Reallocation Towards Private Alternative Investments
14 Positioned to Capitalize on Favorable Industry Trend of Investors Reallocating Capital Towards Private Alternative Investments Source: Hamilton Lane 2025 Annual Global Private Wealth Survey. Favorable Demand Drivers Expanding Role of Alternative Asset Classes Interest Rate Stabilization Retail Ma
Slide 15: Gaining Traction on Private Capital Growth Initiatives
15 Gaining Traction on Private Capital Growth Initiatives Pompano Beach, FL Revere, MA Wayne, PA Real Estate Lending Venture RMR Residential • RMR continues to advance its private capital fundraising and investment initiatives, closing acquisitions of value-add residential communities and seeding a
Slide 16: Key Takeaways
16 • Long term financial and operational alignment with clients. • Durable cash flows with attractive operating leverage as platform continues to scale. • Opportunity to cross sell private capital relationships. • Well-positioned to expand across equity and debt vehicles. Key Takeaways • Approximate
Slide 17: Appendix
17 Appendix
Slide 18: Governed by a Highly Skilled Board of Directors
18 Governed by a Highly Skilled Board of Directors Ann Logan Independent Director Rosen Plevneliev Lead Independent Director Walter C. Watkins, Jr. Independent Director Jonathan Veitch Independent Director Adam Portnoy Managing Director Jennifer Clark Managing Director 50% Female and Members of Unde
Slide 19: Demonstrated Commitment to Sustainability
19 Demonstrated Commitment to Sustainability 1Certifications as of December 31, 2024. • Zero Emissions Promise by 2050 for all RMR managed properties. – Reduce GHG emissions 50% by 2029 from 2019 baseline. Target validated by the Science Based Target Initiative (SBTi). – Achieve net zero emissions f
Slide 20: Annual Sustainability Report 2024
20 Annual Sustainability Report 2024 Annual Sustainability Report To access sustainability reports, visit RMR’s website at www.rmrgroup.com/corporate-sustainability
Slide 21: Financials
> Financials /f
Slide 22: Condensed Consolidated Statements of Income
22 Substantially all revenues are earned from related parties. CONDENSED CONSOLIDATED STATEMENTS OF INCOME For the Three Months Ended March 31, 2025 December 31, 2024 March 31, 2024 Revenues: Management services $ 44,382 $ 46,183 $ 48,460 Incentive fees 19 68 60 Advisory services 1,104 1,141 1,126 T
Slide 23: Condensed Consolidated Statements of Income (Continued)
23 CONDENSED CONSOLIDATED STATEMENTS OF INCOME (CONTINUED) Substantially all revenues are earned from related parties. Certain prior period amounts have been reclassified to conform to the current period presentation. For the Three Months Ended March 31, 2025 December 31, 2024 March 31, 2024 Operati
Slide 24: Condensed Consolidated Balance Sheets
24 CONDENSED CONSOLIDATED BALANCE SHEETS (dollars in thousands) March 31, 2025 September 30, 2024 Assets Cash and cash equivalents held by The RMR Group Inc. $ 21,317 $ 23,189 Cash and cash equivalents held by The RMR Group LLC 115,869 118,410 Due from related parties 90,022 134,030 Prepaid and othe
Slide 25: Definitions
25 Definitions
Slide 26: Definitions
26 Definitions • Assets Under Management (AUM) All references in this presentation to AUM on, or as of, a date are calculated at a point in time. • AUM is calculated as: (i) the historical cost of real estate and related assets, excluding depreciation, amortization, impairment charges or other non-c
Slide 27: Definitions (Continued)
27 Definitions (Continued) Non-GAAP Measures: RMR presents certain “non-GAAP financial measures” within the meaning of the applicable rules of the SEC, including EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin. The GAAP financial measure that is most directly comparable to EBITDA and Adjusted EBI
Slide 28: Two Newton Place, Newton, MA - RMRGROUP.COM
28 Investor Presentation June 2025 Two Newton Place 255 Washington Street, Suite 300 Newton, MA 02458 RMRGROUP.COM