- Business
- Office Properties Income Trust (Nasdaq: OPI; OPINL) is a real estate investment trust focused on owning, operating and leasing single-tenant and multi-tenant office properties to high credit quality tenants, including the U.S. government and investment-grade rated entities, primarily in markets throughout the United States with strong economic fundamentals; its portfolio comprises approximately 125 properties totaling 17.3 million rentable square feet located in 29 states and Washington, D.C., as of March 31, 2025, with tenants contributing about 51% to 60% of annualized rental income from investment grade rated sources or their affiliates; the company generates revenue principally from rental income under net-lease and modified gross lease structures, supplemented by property management services, tenant improvements, and selective asset sales as part of an ongoing capital recycling program. Founded in 2009 and headquartered at Two Newton Place, 255 Washington Street, Suite 300, Newton, Massachusetts 02458-1634, Office Properties Income Trust is externally managed by The RMR Group (Nasdaq: RMR), which provides comprehensive property management, leasing, financing, and operational services leveraging over 35 years of institutional real estate experience; the company targets suburban and urban office assets in growth-oriented regions such as the Northeast, Sun Belt, and coastal markets serving technology, healthcare, professional services, government agencies, and defense contractors. Recent major developments include the October 31, 2025, entry into a Restructuring Support Agreement with holders of its senior secured notes due September 2029 to substantially deleverage its balance sheet by equitizing approximately $1 billion in debt, coupled with the initiation of a voluntary Chapter 11 bankruptcy process and securing $125 million in debtor-in-possession financing from noteholders to support operations without disruption, while ensuring The RMR Group continues as manager under a new five-year arrangement; earlier in 2025, the company executed strategic asset sales totaling $114.5 million in the fourth quarter of 2024 and redeemed its 2025 senior notes ahead of schedule to optimize its portfolio, enhance liquidity, and strengthen its financial position; additionally, on June 11, 2025, its board elected Timothy R. Pohl, a restructuring expert, as an independent trustee to a newly formed special committee amid these efforts, and shareholders approved an expansion of its incentive share award plan.