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RMR Group’s headquarters in Newton, MA. Photo by Google Streetview

NEWTON, MA–The RMR Group and ABP Trust are launching an office fund with an immediate purchasing power of $300 million — which is expected to grow to $500 million — and that has been seeded with 15 office buildings owned by ABP, otherwise known as the Portnoy Family Office, that are worth $206 million. RMR is committing $100 million to the endeavor, which is called the RMR Office Property Fund LP.

It will be a private, open end core fund focused on acquiring middle market, multi-tenant office buildings in urban infill and suburban locations in non-gateway US markets. The fund defines middle market office properties to be larger than 50,000 square feet but valued at less than $100 million.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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