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The RMR Group (NASDAQ: RMR) announced Thursday that it has facilitated a $1 billion five-year fixed-rate mortgage financing for Vertex Pharmaceuticals’ headquarters in Boston’s Seaport district. The financing, which carries a weighted-average interest rate of 5.5957%, is secured by Vertex’s 1.1 million square foot headquarters at 50 Northern Avenue and 11 Fan Pier Boulevard [1].

The funds will primarily be used to repay an existing $620 million mortgage due in 2026, fund leasing reserves, and repatriate cash. The announcement follows a recent lease extension with Vertex Pharmaceuticals that extends the occupancy term to June 2044, adding approximately 15 years to the previous agreement [1].

Adam Portnoy, President and Chief Executive Officer of RMR, stated in a press release, "This financing allows us to recapitalize the joint venture’s debt at a leverage level appropriate for a well-leased, high-quality asset" [1].

The properties are owned by a joint venture for which RMR provides asset and property management services. The financing was provided by Morgan Stanley Bank, N.A., Bank of Montreal, Goldman Sachs, and J.P. Morgan [1].

Diversified Healthcare Trust (NASDAQ: DHC), an RMR client, owns a 10% equity interest in the joint venture, with the remaining ownership held by private institutional investors. DHC, currently valued at $819.6 million, has demonstrated strong momentum with a 29% return over the past six months. According to InvestingPro analysis, the company trades at an attractive Price/Book ratio of 0.44 and has maintained dividend payments for 27 consecutive years [1].

In other recent news, Diversified Healthcare Trust (DHC) reported its Q2 2025 earnings, showing a mixed financial outcome. The company announced an earnings per share (EPS) of -$0.38, which did not meet the forecasted -$0.24, resulting in a 58.33% negative surprise. On a more positive note, DHC’s revenue reached $382.7 million, slightly exceeding the expected $380.79 million. These recent developments highlight the company’s ongoing financial challenges and achievements. While the earnings per share fell short, the revenue figures offer a slight upside for investors. The company’s financial results continue to draw attention, reflecting both areas of concern and promise [1].

References:
[1] https://www.investing.com/news/company-news/rmr-group-secures-1-billion-mortgage-for-vertex-pharmaceuticals-hq-93CH-4178315