The RMR Group Inc. (Nasdaq: RMR) today announced that Covenant Management Systems, L.P. recently signed a new ten-year lease for Austin Regional Clinic to open a specialty office in 9,557 square feet at Austin Surgical Plaza in Austin, Texas.
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Austin Surgical Plaza is a 78,789 square foot, two-story, multi-tenant, Class A medical office building. Located at 6818 Austin Center Boulevard, the property is a short distance from The Domain and The Arboretum developments, offering proximity to numerous retail, dining, entertainment, and hotel amenities. Austin Surgical Plaza is situated immediately off the MoPac Expressway, providing convenient access to downtown Austin, Highway 183 and Interstate 35.
The property is owned by Diversified Healthcare Trust (Nasdaq: DHC) and managed by The RMR Group. The RMR Group is responsible for providing all aspects of management services and strategy for more than 1,400 properties with over 97 million square feet of commercial office, industrial, medical office, life science and retail space.
DHC was represented by Will Stewart and Marshall Thurmond of Transwestern. Covenant Management Systems, L.P. was represented by George Baldwin.
About The RMR Group Inc.
The RMR Group Inc. (Nasdaq: RMR) is a holding company and substantially all of its business is conducted by its majority owned operating subsidiary, The RMR Group LLC. The RMR Group LLC is an alternative asset management company that primarily provides management services to publicly traded REITs and real estate related operating companies. As of December 31, 2019, The RMR Group LLC had $32.2 billion of total assets under management, including more than 2,100 properties, and employed approximately 600 real estate professionals in more than 30 offices throughout the United States; the companies managed by The RMR Group LLC collectively had nearly 50,000 employees. The RMR Group Inc. is headquartered in Newton, Massachusetts.
About Diversified Healthcare Trust
Diversified Healthcare Trust is a real estate investment trust (REIT) focused on owning high-quality healthcare properties located throughout the United States. DHC seeks diversification across the health services spectrum: by care delivery and practice type, by scientific research disciplines, by property type and location. As of September 30, 2019, DHC’s $8.6 billion portfolio included more than 430 properties in 40 states and Washington, D.C., occupied by more than 600 tenants, and totaling more than 12.0 million square feet medical office and life science properties and 32,000 living units. DHC is managed by the operating subsidiary of The RMR Group Inc. an alternative asset management company that is headquartered in Newton, MA. To learn more about DHC, visit www.dhcreit.com.
About Austin Regional Clinic
Austin Regional Clinic is a multispecialty medical group committed to providing comprehensive healthcare services throughout the greater Austin area. Founded by three physicians in 1980, it now provides health care to over 520,000 area residents in 27 locations in 10 Central Texas cities, including both primary and specialty care. ARC is unique to the Central Texas area because of its widespread locations, convenient services and quality assurance programs. ARC patients enjoy access to such conveniences as same-day appointments, 24/7 online and phone appointment scheduling, ARC MyChart patient portal, After Hours Clinics, and nursing services through the night. Most ARC clinics also offer on-site radiology and lab services and some clinics offer specialty programs such as a travel clinic, medical nutrition therapy, and ARC Healthiness. For more information, visit www.austinregionalclinic.com.
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