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  "documentTitle": "Office Properties Income Trust | Investor Presentation Deck | 25 slides",
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  "authorName": "Office Properties Income Trust",
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  "presentationDate": "2023-11-01 00:00:00",
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      "text": "Other fees.\nProperty management fee: consists of an annual fee based on 3.0% of rents collected at OPI's managed properties.\nConstruction management fee based on 5.0% of project costs.",
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      "text": "RMR incentive fees contingent on total shareholder return outperformance.\nIncentive management fee: 12% of the outperformance of our total return per share compared to the MSCI U.S. Office REIT Index over a three year period multiplied by equity market capitalization.\nOutperformance must be positive to be earned.\nShareholders keep 100% of benchmark returns and at least 88% of returns in excess of the benchmark.",
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      "text": "RMR base management fee tied to OPI share price performance.\nConsists of an annual fee equal to generally 50 bps multiplied by the lower of: (1) OPI's historical cost of real estate, or (2) OPI's total market capitalization.\nThere is no incentive for RMR to complete any transaction that could reduce share price.",
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      "text": "Alignment of Interests\nIf OPI's share price goes up and its total market cap exceeds its historical cost of real estate; RMR base management fee is capped at 50 bps of historical cost of real estate.\nIf OPI's stock price goes down and its historical cost of real estate exceeds its total market cap; RMR gets less base management fees (50 bps on equity market cap plus debt).\nIncentive fee structure keeps RMR focused on increasing total shareholder return.\nMembers of RMR senior management are holders of OPI common shares, some subject to long term lock up agreements.\nOPI shareholders have visibility into RMR, a publicly traded company.\nOPI benefits from RMR's national footprint and economies of scale of $36 billion platform.",
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      "text": "FEES THAT OPI PAYS TO RMR ARE PRIMARILY PERFORMANCE BASED WHICH ALIGNS INTERESTS WITH SHAREHOLDERS",
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