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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities:      
Net income (loss) $ 53,129 $ 127,771 $ 77,468
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 4,713 1,102 993
Straight line rent, net (380) (345) (352)
Amortization expense related to other assets 9,416 9,416 9,416
Provision for credit losses 602 0 0
Provision (benefit) for deferred income taxes 3,057 (1,108) 1,559
Change in fair value of Earnout liability (2,589) 0 0
Operating expenses paid in The RMR Group Inc. common shares 3,937 3,608 3,774
Distributions from equity method investments 2,391 2,221 841
Gain on equity method investments (7,260) (25,237) (1,010)
Changes in assets and liabilities:      
Due from related parties (14,364) (6,584) (18,720)
Prepaid and other current assets (1,475) (1,625) 649
Reimbursable accounts payable and accrued expenses 12,520 (2,297) 25,106
Accounts payable and accrued expenses (2,322) 2,293 1,546
Net cash provided by operating activities 61,375 109,215 101,270
Cash Flows from Investing Activities:      
Acquisition of MPC Partnership Holdings LLC, net of cash acquired (78,771) 0 0
Rental property acquisition (70,509) 0 0
Origination of loans held for investment (57,180) 0 0
Purchase of property and equipment (3,865) (3,983) (1,121)
Proceeds from deferred origination fees 700 0 0
Proceeds from sale of TravelCenters of America Inc. common shares 0 53,479 0
Net cash (used in) provided by investing activities (209,838) 49,496 (10,590)
Cash Flows from Financing Activities:      
Proceeds from secured financing facility 41,655 0 0
Proceeds from mortgage note payable 46,500 0 0
Payment of deferred financing fees (1,960) 0 0
Distributions to noncontrolling interests (32,197) (50,145) (32,941)
Distributions to common shareholders (28,423) (26,576) (25,730)
Repurchase of common shares (1,136) (734) (547)
Payments under the tax receivable agreement (2,366) (2,355) (2,209)
Net cash provided by (used in) financing activities 22,073 (79,810) (61,427)
(Decrease) increase in cash and cash equivalents (126,390) 78,901 29,253
Cash and cash equivalents at beginning of period 267,989 189,088 159,835
Cash and cash equivalents at end of period 141,599 267,989 189,088
Supplemental disclosures:      
Income taxes paid 9,138 21,233 9,555
Interest paid 371 0 0
Non-cash investing and financing activities:      
Recognition of right of use assets and related lease liabilities 3,646 5,057 1,295
Recognition of Earnout liability 14,547 0 0
Write-off of fully depreciated property and equipment 1,209 479 1,272
Assumption of mortgage note payable 5,429 0 0
Property and equipment accrued, not paid 465 39 114
MF Fund VII      
Cash Flows from Investing Activities:      
Equity method investment (213) 0 0
SEVN      
Adjustments to reconcile net income to net cash provided by operating activities:      
Distributions from equity method investments 2,391 2,221 841
Cash Flows from Investing Activities:      
Equity method investment $ 0 $ 0 $ (9,469)