RMR - Mergers and acquisitions

High-End Destination Resort Hotel Located on Irreplaceable Parcel $25 Million Repositioning in 2024; Will Reopen in Early 2025 Under Sonesta's Lifestyle Brand, The James Service Properties Trust (NASDAQ:SVC) announced today that it has acquired the 250-room Nautilus Hotel located at 1825 Collins Avenue, Miami Beach, FL for $165.4 million, or approximately $661,600 per key. The Nautilus is a lifestyle oceanfront hotel located in Miami's South Beach neighborhood with 250 guestrooms, including 55 suites, four food and beverage outlets, outdoor pool, spa, fitness center and 17,500 SF of flexible outdoor and indoor event space. The hotel will initially be branded as the Nautilus Sonesta Miam

Urban Core Class A Office Properties Highly Leased to Strong Credit Tenants in Strong and Growing Markets Office Properties Income Trust (NASDAQ:OPI) today announced that it has completed the acquisition of two Class A office properties for a total of $550.0 million, excluding closing costs. OPI acquired the approximately 531,190 square foot Class A office property known as 1K Fulton in Chicago, IL for $355.0 million, excluding closing costs, reflecting a current GAAP cap rate of 4.7% at closing. The property is 73% leased to Google as its Midwest headquarters and 99% leased overall, with a weighted average lease term of 6.6 years. This LEED certified property underwent a full redevelopme

NEWTON, Mass.--(BUSINESS WIRE)--Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced financial results for the quarter ended December 31, 2020. John Murray, President and Chief Executive Officer of ILPT, made the following statement: "We reported a strong finish to the year, with steady progress on our key priorities to reduce leverage, expand the portfolio, and create value for tenants and investors in today's competitive operating environment. ILPT entered into new and renewal leases for approximately 253,000 square feet, resulting in weighted average rental rates that were 14.1% higher than prior rental rates with a weighted average lease term of 13 years. Our p

NEWTON, Mass.--(BUSINESS WIRE)--Office Properties Income Trust (Nasdaq: OPI) today announced that it has completed the sale of a property in Richmond, VA for a sale price of $130.0 million, excluding closing costs. “We are pleased with this opportunistic sale at what we believe to be a price reflective of a long-term stabilized property despite the tenant’s lease expiring in 2024,” stated Chris Bilotto, President and Chief Operating Officer of OPI. “The $418 per square foot sale is on par with the higher sales comps realized in the market over the past few years.” Proceeds from this sale will be used for general business purposes, including the potential future acquisition or rede