Senior Housing Properties Trust (Nasdaq: SNH) today announced that St. David’s Healthcare Partnership, one of the largest health systems in Texas, has signed a 10-year renewal lease for approximately 42,600 square feet at 1111 W. 34th Street in Austin, Texas.
The property is a four-story, multi-tenant medical office building approximately three miles north of downtown Austin. The property is adjacent to Seton Hospital with convenient access to nearby restaurants.
The property is managed by The RMR Group LLC, which manages Senior Housing Properties Trust and is the majority owned operating subsidiary of The RMR Group Inc. The RMR Group LLC is responsible for providing all aspects of property management services to more than 700 buildings with over 75 million square feet of commercial office, industrial, medical office, life science and retail space.
SNH was represented by Will Stewart of Transwestern. St. David’s Healthcare Partnership was represented by Theresa Ellington of HCFD Realty Management, Inc.
About Senior Housing Properties Trust
SNH is a real estate investment trust, or REIT, that owns medical office and life science properties, senior living communities and wellness centers throughout the United States, with $8.4 billion of assets under management, including more than 460 properties, as of March 31, 2019. SNH is managed by the operating subsidiary of The RMR Group Inc.
About The RMR Group Inc.
The RMR Group Inc. 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 March 31, 2019, The RMR Group LLC had approximately $30.0 billion of total assets under management, including more than 1,500 properties, and employed almost 600 real estate professionals in more than 30 offices throughout the United States; the companies managed by The RMR Group LLC collectively had approximately 50,000 employees. The RMR Group Inc. is headquartered in Newton, Massachusetts.