The RMR Group Announces Completion of 20 Mass Redevelopment; Project Wins NAIOP DC|MD’s Best Renovation Award

New Mixed-Use Property Features Class A Office Space,

Luxury Sonesta Hotel and First Class Amenities

NEWTON, Mass.–(BUSINESS WIRE)–The RMR Group (Nasdaq: RMR) today announced the completion of a redevelopment project at 20 Massachusetts Avenue NW (“20 Mass”) in Washington, D.C. and recognition of the project for Best Renovation by NAIOP DC|MD.




Christopher Bilotto, Executive Vice President of The RMR Group, made the following statement:

“We are honored by the recognition from NAIOP MD|DC for best renovation in the market for our recently completed 20 Mass redevelopment. This successful conversion of a former government office building into a Class A mixed-use destination is the culmination of significant efforts by RMR, its client Office Properties Income Trust, and the redevelopment project team. We are proud to add this distinctive property to The RMR Group’s extensive portfolio in the greater Washington, D.C. area.”

NAIOP DC|MD recognized 20 Mass for Best Renovation at the association’s recent annual Awards of Excellence Gala, which honors outstanding achievement in commercial real estate. The Best Renovation category recognizes creative building programming, design and construction in redevelopment projects throughout Washington, D.C. and surrounding Maryland counties.

The reimagined 20 Mass includes 13,800 square feet of retail, the recently opened 274-key luxury Royal Sonesta Washington, D.C. Capitol Hill hotel, 183,000 square feet of premier upper level office space and a 14,500 square foot penthouse amenity space with views of the Capitol. Positioned at the intersection of Massachusetts Avenue and F Street NW in the prestigious Capitol Hill neighborhood, 20 Mass is adjacent to Union Station, a major regional transit hub. 20 Mass also offers direct access to upscale dining, world class museums and landmark buildings including the United States Capitol and Supreme Court of the United States.

The property is 54% leased to Sonesta International Hotels Corporation (Sonesta), which opened The Royal Sonesta Washington, D.C. Capitol Hill hotel in September 2023. As the first luxury hotel to open in Capitol Hill in nearly 40 years, the hotel features 274 guest rooms that are some of the largest in the city, with an average room size of 480 square feet. KNEAD Hospitality + Design debuted its new 200 seat French restaurant Bistro Du Jour on the hotel’s main level with a stylish bar and lounge and outdoor café serving breakfast, lunch, dinner, weekend brunch and happy hour.

As a LEED Gold and WELL certified property, 20 Mass was redesigned to integrate sustainable and tech forward components that benefit hotel guests and office tenants. A new glass curtain wall façade and 10-story atrium cut into the existing structure bring in natural light while a green roof features drought-resistant planting and an integrated stormwater management system. Wellness amenities in the building include an on-site fitness facility with Peloton bikes and adjoining yoga studio as well as water refill stations and EV charging stations in the garage. The property also offers tenants multiple conference centers with private terraces, multipurpose meeting rooms and a tenant experience app providing a mobile concierge and touchless systems.

Amy Bowser, Executive Vice President of CBRE made the following statement:

“20 Mass is a unique mixed-use destination in Washington D.C. Office tenants will experience hospitality rich amenities which distinguish 20 Mass from other buildings in the market. While the top four office floors are ideal for larger tenants, the floorplates can be configured to accommodate organizations of varying sizes.”

The property is owned by Office Properties Income Trust (Nasdaq: OPI) and managed by The RMR Group. RMR provides asset and property management services nationwide for more than 1,500 properties with over 120 million square feet of office, industrial, medical office, life science and retail space. RMR exclusively provides property management services to its client companies and does not offer standalone property management services to third-parties.

The 20 Mass redevelopment was designed by architectural firm Leo A. Daly and constructed by DPR Construction. CBRE is the exclusive office leasing broker at 20 Mass, while JLL is responsible for retail leasing. For more information, please visit www.20Mass.com.

About The RMR Group

The RMR Group is a leading U.S. alternative asset management company, unique for its focus on commercial real estate (CRE) and related businesses. RMR’s vertical integration is supported by over 600 real estate professionals in more than 30 offices nationwide who manage approximately $36 billion in assets under management and leverage more than 35 years of institutional experience in buying, selling, financing and operating CRE. RMR benefits from a scalable platform, a deep and experienced management team and a diversity of direct real estate strategies across its clients. RMR is headquartered in Newton, MA and was founded in 1986. For more information, please visit www.rmrgroup.com.

About Office Properties Income Trust

Office Properties Income Trust (Nasdaq: OPI) is a national REIT focused on owning and leasing high quality office and mixed-use properties in select growth-oriented U.S. markets. As of June 30, 2023, approximately 63% of OPI’s revenues were from investment grade rated tenants. OPI owned and leased 155 properties as of June 30, 2023, with approximately 20.8 million square feet located in 30 states and Washington, D.C. In 2023, OPI was named as an Energy Star® Partner of the Year for the sixth consecutive year. OPI is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with approximately $36 billion in assets under management as of June 30, 2023, and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. OPI is headquartered in Newton, MA. For more information, visit opireit.com.

Contacts

Christopher Ranjitkar

Vice President, Marketing & Corporate Communications

(617) 219-1473