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Subsequent Events | 3 Months Ended
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Dec. 31, 2017
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events ILPT Initial Public Offering An initial public offering of Industrial Logistics Properties Trust, or ILPT, a Maryland real estate investment trust, formerly a wholly owned subsidiary of SIR, was completed on January 17, 2018. Upon completion of this offering, RMR LLC entered into two management agreements with ILPT to provide management services to ILPT: (1) a business management agreement, which relates to ILPT’s business generally; and (2) a property management agreement, which relates to ILPT’s property level operations. The terms of these management agreements are substantially similar to the terms of RMR LLC’s management agreements with the Managed Equity REITs, including the terms related to the base business management fee, annual incentive business management fee and property management fees payable to RMR LLC, expense reimbursement, termination rights, termination fee payable to RMR LLC and the length of those contracts. The annual incentive business management fee under the management agreements with ILPT references the total returns per share, as defined, realized by holders of ILPT common shares compared to the total shareholder return of the SNL U.S. REIT Equity Index. RMR LLC will first be eligible to receive an annual incentive business management fee from ILPT for the period beginning on January 12, 2018 (the first day the ILPT common shares began trading) and ending on December 31, 2018. ILPT owns 266 properties located in 25 states with approximately 28.5 million square feet that were contributed to it by SIR. SIR is ILPT’s largest shareholder and, as of the completion of the initial public offering of ILPT, owned approximately 69.2% of the outstanding ILPT common shares. Our Managing Directors serve as managing trustees of ILPT, and the executive officers of ILPT are officers and employees of us and RMR LLC. Upon completion of the ILPT initial public offering, we and SIR entered a letter agreement to confirm that we will not be paid business or property management fees by SIR calculated with respect to SIR's ownership of ILPT's common shares or ILPT's properties.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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