XML 27 R32.htm IDEA: XBRL DOCUMENT v3.2.0.727
Related Person Transactions (Details)
$ in Thousands
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 05, 2015
USD ($)
agreement
shares
Jan. 29, 2015
USD ($)
ft²
state
property
Aug. 31, 2015
USD ($)
property
Jul. 31, 2015
USD ($)
property
item
Jun. 30, 2015
USD ($)
ft²
property
item
shares
May. 31, 2015
USD ($)
property
agreement
community
item
Apr. 30, 2015
USD ($)
Feb. 28, 2015
USD ($)
property
shares
Jan. 31, 2015
USD ($)
ft²
property
Dec. 31, 2014
USD ($)
community
Apr. 30, 2014
shares
Jun. 30, 2015
USD ($)
ft²
property
Vote
community
item
shares
Mar. 31, 2015
USD ($)
Jun. 30, 2014
USD ($)
property
community
Jun. 30, 2015
USD ($)
ft²
property
community
item
shares
Jun. 30, 2014
USD ($)
property
shares
Dec. 31, 2014
USD ($)
property
Dec. 31, 2001
Related person transactions                                    
Property management and construction supervision fees paid                       $ 1,494   $ 1,497 $ 3,235 $ 2,915    
Related party employee equity compensation plan accrual                       $ 507   359 $ 908 834    
Issuance of shares (in shares) | shares               31,050,000     15,525,000              
Number of states in which properties are located | item         43             43     43      
Income (loss) recognized arising from equity investments                       $ 23   118 $ 95 21    
Change in net unrealized gain(loss) on investments                       $ 1,387   640 $ 2,835 (1,280)    
Number of properties agreed to be offered for sale | property         3             3     3      
Number of properties sold or agreed to be sold | property               1                    
Interest and other income                       $ 142   154 $ 217 258    
RMR Trust                                    
Related person transactions                                    
Property management and construction supervision fees                       2,532   2,079 4,969 3,718    
RMR LLC                                    
Related person transactions                                    
Business management fees                       $ 9,144   $ 7,733 $ 18,014 $ 14,415    
Base business management fee payable in cash (as a percent)         100.00%             100.00%     100.00%      
Rental revenue from related party                         $ 51   $ 102      
Senior living communities                                    
Related person transactions                                    
Number of living units | item         192             192     192      
Number Of Communities | community                             19      
Number of properties agreed to be offered for sale | property     3   3             3     3      
Number of properties sold or agreed to be sold | property       1                            
Senior living communities | Pennsylvania                                    
Related person transactions                                    
Sale price of properties under agreement to be sold               $ 250                    
Senior living communities | Wisconsin                                    
Related person transactions                                    
Sale price of properties under agreement to be sold     $ 850                              
MOBs                                    
Related person transactions                                    
Sale price of properties under agreement to be sold             $ 1,500                      
Number of properties agreed to be offered for sale | property         1             1   4 1 4    
Acquisition                                    
Related person transactions                                    
Total rental income recognized                             $ 17,208      
Number of properties acquired or agreed to be acquired | property                             23      
Acquisition | Senior living communities                                    
Related person transactions                                    
Number of living units | item           3,352                        
Number of properties acquired or agreed to be acquired           37                     2  
Purchase price           $ 762,611                        
Acquisition | MOBs                                    
Related person transactions                                    
Purchase price excluding closing costs and working capital adjustments                 $ 531,623           $ 531,623      
Number of properties acquired or agreed to be acquired | property                 23           23   2  
Purchase price                 $ 539,000                  
Area of real estate properties (in square feet) | ft²         2,170,000       2,170,000     2,170,000     2,170,000      
Acquisition | MOBs | SIR                                    
Related person transactions                                    
Amount from SIR related to working capital activity             $ 8,993                      
Agreement to acquire | Senior living communities                                    
Related person transactions                                    
Number of living units | item       84                            
Number Of Communities | community           37       38                
Number of properties acquired or agreed to be acquired | property       1                            
Purchase price       $ 18,250                            
Five Star                                    
Related person transactions                                    
Percentage of total shares outstanding         8.60%             8.60%     8.60%     100.00%
Investment in common shares | shares         4,235,000             4,235,000     4,235,000      
Five Star | Senior living communities                                    
Related person transactions                                    
Number of real estate properties leased | property         180             180     180      
Total rental income recognized                       $ 47,753   $ 47,618 $ 95,443 $ 95,124    
Deferred estimated percentage rent payments received                             2,824 2,819    
Real estate improvements purchased                             9,392 17,423    
Rents receivable         $ 15,918         $ 17,310   $ 15,918     15,918   $ 17,310  
Increase or decrease in annual lease rent payable                             $ 757 1,394    
Number of properties acquired, referred to as managed properties           37           60   44 60      
Property management agreement expense                       $ 2,699   $ 2,433 $ 5,222 4,857    
Number of separate management agreements entered for communities acquired | agreement           14                        
Five Star | Senior living communities | TRS                                    
Related person transactions                                    
Purchase price excluding closing costs and working capital adjustments           $ 9,750                        
Number of private pay independent living units | item           40                        
Five Star | Acquisition | Senior living communities                                    
Related person transactions                                    
Number of living units | item           838                        
Five Star | Sale | Senior living communities                                    
Related person transactions                                    
Sale price of properties under agreement to be sold     850 155       250                    
Increase or decrease in annual lease rent payable       $ (16)                            
Five Star | Sale | Senior living communities | Pennsylvania                                    
Related person transactions                                    
Minimum annual rent payable to entity               $ 23                    
Five Star | Sale | Senior living communities | Wisconsin                                    
Related person transactions                                    
Minimum annual rent payable to entity     $ 85                              
D&R Yonkers LLC | TRS                                    
Related person transactions                                    
Sublease rental                       752   730 $ 1,504 1,460    
RMR LLC                                    
Related person transactions                                    
Shares issued in connection with acquisition | shares                             81,557      
SIR                                    
Related person transactions                                    
Debt disposed of from properties sold   $ 29,955                                
SIR | Acquisition | MOBs                                    
Related person transactions                                    
Purchase price excluding closing costs and working capital adjustments   $ 539,000                                
Number of properties acquired or agreed to be acquired | property   23                                
Area of real estate properties (in square feet) | ft²   2,170,000                                
Number of states in which properties are located | state   12                                
AIC                                    
Related person transactions                                    
Equity method investments, carrying value         6,903             6,903     $ 6,903      
Income (loss) recognized arising from equity investments                       23   118 95 21    
Change in net unrealized gain(loss) on investments                       $ (64)   $ 22 $ (19) $ 41    
Coverage of purchased property insurance         500,000                          
Coverage of purchased property insurance for large property         1,000,000                          
Coverage of purchased property terror insurance         200,000                          
Property insurance premium         $ 4,222                          
Up C Transaction                                    
Related person transactions                                    
Indirect economic interest in RMR LLC (as a percent) 17.00%                                  
Up C Transaction | RMR Trust                                    
Related person transactions                                    
Direct and indirect economic interest in RMR LLC (as a percent) 51.60%                                  
Voting power of outstanding capital stock of RMR Inc. (as a percent) 91.40%                                  
Up C Transaction | RMR LLC | Amended Agreement                                    
Related person transactions                                    
Number of business days notice for termination of property management agreement for convenience by the related party 60 days                                  
Number of business days notice for termination of property management agreement for performance by the related party 60 days                                  
Window for providing notice of termination of property management agreement for performance by the related party 60 days                                  
Window for providing notice of termination of property management agreement for change of control by the related party 12 months                                  
Number of terminated management agreements for convenience before termination fee is incurred | agreement 1                                  
Number of RMR LLC terminated management agreements for good cause before termination fee is incurred | agreement 1                                  
Number of terminated management agreements for a performance reason before termination fee is incurred | agreement 1                                  
Termination fee remaining term assumption 10 years                                  
Up C Transaction | GOV                                    
Related person transactions                                    
Indirect economic interest in RMR LLC (as a percent) 5.00%                                  
Up C Transaction | HPT                                    
Related person transactions                                    
Indirect economic interest in RMR LLC (as a percent) 16.20%                                  
Up C Transaction | SIR                                    
Related person transactions                                    
Indirect economic interest in RMR LLC (as a percent) 10.20%                                  
Up C Transaction | Managing Trustees Barry And Adam Portnoy | RMR Trust                                    
Related person transactions                                    
Number of shares under lock up and registration agreement | shares                       2,345,000            
Period over which shares remain under lock up and registration agreement                       10 years            
RMR Inc | Up C Transaction                                    
Related person transactions                                    
Cash purchase price $ 13,967                                  
Equity conversion ratio of RMR Inc class B-1 common stock                       1            
Equity conversion ratio of RMR LLC class A membership units                       1            
Preliminary amount of investment acquired 60,739                                  
Amount of investment acquired $ 58,428                                  
Percentage of interest acquired 33.00%                                  
Fair value of investment $ 136,278                                  
Initial other liabilities 77,850                                  
Investment at carrying value, including transaction costs $ 138,839                                  
Number of shares acquired | shares 5,272,787                                  
RMR Inc | Up C Transaction | RMR Trust                                    
Related person transactions                                    
Cash purchase price $ 11,520                                  
RMR Inc | Up C Transaction | RMR LLC                                    
Related person transactions                                    
Straight line discount amortization period 20 years                                  
RMR Inc | Up C Transaction | RMR LLC | General and administrative expense                                    
Related person transactions                                    
Amortization of other liabilities to reduce business and property management fees                       $ 191            
RMR Inc | Up C Transaction | RMR LLC | Operating expense                                    
Related person transactions                                    
Amortization of other liabilities to reduce business and property management fees                       $ 51            
RMR Inc | Up C Transaction | GOV                                    
Related person transactions                                    
Cash purchase price $ 3,917                                  
RMR Inc | Up C Transaction | HPT                                    
Related person transactions                                    
Cash purchase price 12,622                                  
RMR Inc | Up C Transaction | SIR                                    
Related person transactions                                    
Cash purchase price $ 15,880                                  
Common Shares | RMR LLC                                    
Related person transactions                                    
Common shares issued as payment for base business management fee | shares                             68,983 62,060    
Common Shares | RMR Inc | Up C Transaction                                    
Related person transactions                                    
Shares issued in connection with acquisition | shares 2,345,000                                  
Period prior to acquisition over which weighted average trading prices are calculated 20 days                                  
Common Shares | RMR Inc | Up C Transaction | GOV                                    
Related person transactions                                    
Shares issued in connection with acquisition | shares 700,000                                  
Common Shares | RMR Inc | Up C Transaction | HPT                                    
Related person transactions                                    
Shares issued in connection with acquisition | shares 1,490,000                                  
Common Shares | RMR Inc | Up C Transaction | SIR                                    
Related person transactions                                    
Shares issued in connection with acquisition | shares 880,000                                  
Class A common shares | Up C Transaction | RMR Inc                                    
Related person transactions                                    
Shares issued in connection with acquisition | shares 5,272,787                                  
Class A common shares | Up C Transaction | GOV | RMR Inc                                    
Related person transactions                                    
Shares issued in connection with acquisition | shares 1,541,201                                  
Class A common shares | Up C Transaction | HPT | RMR Inc                                    
Related person transactions                                    
Shares issued in connection with acquisition | shares 5,019,121                                  
Class A common shares | Up C Transaction | SIR | RMR Inc                                    
Related person transactions                                    
Shares issued in connection with acquisition | shares 3,166,891                                  
Class A common shares | RMR Inc | Up C Transaction                                    
Related person transactions                                    
Number of votes per equity interest | Vote                       1            
Class B1 common shares | Up C Transaction | RMR Inc                                    
Related person transactions                                    
Shares issued in connection with acquisition | shares 1,000,000                                  
Class B1 common shares | RMR Inc | RMR Trust                                    
Related person transactions                                    
Investment in common shares | shares 1,000,000                                  
Class B1 common shares | RMR Inc | Up C Transaction                                    
Related person transactions                                    
Number of votes per equity interest | Vote                       10            
Class B2 common shares | Up C Transaction | RMR Inc                                    
Related person transactions                                    
Shares issued in connection with acquisition | shares 15,000,000                                  
Class B2 common shares | RMR Inc | RMR Trust                                    
Related person transactions                                    
Investment in common shares | shares 15,000,000                                  
Class B2 common shares | RMR Inc | Up C Transaction                                    
Related person transactions                                    
Number of votes per equity interest | Vote                       10            
Class A member units | RMR LLC | RMR Trust                                    
Related person transactions                                    
Investment in common shares | shares 15,000,000                                  
Class A member units | RMR Inc | Up C Transaction | RMR LLC | RMR Trust                                    
Related person transactions                                    
Investment in common shares | shares 30,000,000                                  
Business acquisition related party equity interests delivered | shares 15,000,000                                  
Class B member units | RMR Inc | Up C Transaction | RMR LLC                                    
Related person transactions                                    
Shares issued in connection with acquisition | shares 1,000,000