RMR Real Estate Income Fund (NYSE American: RIF) offers its investors the opportunity to invest in income producing real estate securities across various property types that have been strategically selected, leveraging our unique access to extensive commercial real estate expertise.  The Fund’s primary investment objective is to earn and pay a high level of current income to its common shareholders by investing in real estate companies, including real estate investment trusts, and its secondary objective is capital appreciation. As of June 30, 2019, RMR Advisors LLC, the Fund’s investment adviser, had approximately $342 million assets under management primarily invested in common and preferred real estate securities.

RIF's Mandate

Objective

1

To earn and pay a high level of current income to its common shareholders by investing in real estate securities.

2

Capital appreciation.

Criteria

1

90%+ of managed assets must be invested in income producing securities issued by real estate companies.

2

75% + of managed assets must be invested in securities issued by real estate investment trusts.

3

10% - no more then ten percent of managed assets can be invested in securities denominated in currencies other than the US dollar or traded on a non-US stock exchange.

For term definitions, please refer to the footer at the bottom of this page.

Investment Approach

RIF's portfolio management team (the “team”) employs a value oriented investment process which integrates a top-down bottom-up method of selecting individual securities for the RIF portfolio.  Leveraging its affiliation with The RMR Group, the team believes that it benefits from a unique advantage over its peers in its top-down analysis approach.  The breadth and depth of The RMR Group platform provides the team a broad scope of expert insight and information which the team draws upon when setting the portfolio’s strategy.  The team’s bottom-up analysis utilizes traditional fundamental equity analysis to evaluate a company’s portfolio, current business strategy, capital structure, management track record and ability to grow and sustain the dividend.

The RMR Advantage

RMR Advisors LLC is a wholly owned subsidiary of The RMR Group LLC.  RMR Advisors benefits from The RMR Group’s resource rich platform, leveraging its deep industry expertise, “boots on the ground” knowledge and real-time fundamental market data.

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Experience

Over 30 years of experience in the commercial real estate industry supported by a network of over 30 offices nationwide.

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Real-time Market Data

Access to real estate market and property level information on a real-time basis.

Economic And
Demographic Trends

In depth perspective into economic and demographic trends in targeted markets.

Portfolio

Top Ten Holdings

As of June 30, 2019

Prologis, Inc. 2.7%
Sun Communities, Inc. 2.7%
EPR Properties 2.5%
Simon Properties Group, Inc. 2.2%
Avalonbay Communities, Inc. 2.1%
Medical Properties Trust, Inc. 2.1%
National Retail Properties, Inc. 2.1%
Stag Industrial, Inc. 2.1%
Ventas, Inc. 2.0%
Independence Realty Trust 1.7%

Sub-Sector Allocation

As of June 30, 2019

Residential 14.1%
Health Care 13.0%
Lodging Resorts 10.9%
Industrial 10.1%
Office 8.4%
Diversified 7.2%
Shopping Centers 6.2%
Free Standing 5.2%
Regional Malls 5.1%
Other 19.8%

This data is subject to change on a daily basis.  The Fund’s portfolio is actively managed and the foregoing presents only a “snapshot” at June  30, 2019.  There is no assurance that the composition of the Fund’s portfolio, either currently or in the future, will resemble the composition of the Fund’s portfolio at June 30, 2019.  The Fund’s current or future portfolio may contain some, all or none of the referenced sectors or holdings in allocations that may be the same, similar or different from those reflected at June 30, 2019.

Portfolio Management Team

RMR Real Estate Income Fund ‘s portfolio is lead by a team of seasoned executives with over 30 years of commercial real estate and securities experience between them.

Portrait

Fernando Diaz, President

Mr. Diaz is Vice President of RMR Advisors LLC and President and Senior Portfolio Manager of RMR Real Estate Income Fund (NYSE American: RIF).  Mr. Diaz is Vice President of The RMR Group LLC and has over 15 years of experience as a securities analyst and portfolio manager.  Prior to joining RMR Advisors LLC in 2007, Mr. Diaz was a senior REIT analyst and assistant portfolio manager with GID Securities, LLC and a senior REIT analyst and assistant portfolio manager with State Street Global Advisors/The Tuckerman Group.  Mr. Diaz earned a Bachelor’s degree in Mechanical Engineering from Northeastern University and an MBA in Finance from Bentley University.  Mr. Diaz holds the Chartered Financial Analyst designation and is a member of the Boston Security Analysts Society.

Portrait

Adam Portnoy, Managing Trustee

Mr. Portnoy is a Managing Trustee of RMR Real Estate Income Fund (NYSE American: RIF), and has been a member of the Fund's portfolio management team since 2007 and serves on the board of RMR Advisors LLC. Mr. Portnoy is a Managing Director, President and Chief Executive Officer of The RMR Group Inc. (Nasdaq: RMR) and President and Chief Executive Officer of The RMR Group LLC. Mr. Portnoy also serves on the Boards of several companies managed by The RMR Group LLC, including: Service Properties Trust (Nasdaq: SVC), Senior Housing Properties Trust (Nasdaq: SNH), Office Properties Income Trust (Nasdaq: OPI), Tremont Mortgage Trust (Nasdaq: TRMT), Industrial Logistics Properties Trust (Nasdaq: ILPT), Five Star Senior Living Inc. (Nasdaq: FVE), TravelCenters of America Inc. (Nasdaq: TA) and Sonesta International Hotels Corporation (Private). Mr. Portnoy is also a Director of Tremont Realty Advisors LLC, a wholly owned SEC registered investment adviser subsidiary of The RMR Group LLC. Prior to joining The RMR Group in 2003, Mr. Portnoy held various positions in the finance industry and public sector, including working as a banker at Donaldson, Lufkin & Jenrette and ABN AMRO, working in private equity at the International Finance Corporation (a member of The World Bank Group) and DLJ Merchant Banking Partners, as well as serving as Chief Executive Officer of a telecommunications company. Mr. Portnoy currently serves on the Board of Directors of the Pioneer Institute, as the Honorary Consul General of the Republic of Bulgaria to the Commonwealth of Massachusetts, and he is formerly a member of the Board of Trustees of Occidental College and the Board of Governors of the National Association of Real Estate Investment Trusts (NAREIT). Mr. Portnoy graduated with a Bachelor’s degree in Public Policy from Occidental College in 1993.

Note: For the purposes of its investment policies, RIF defines a “real estate company” as an entity that derives at least 50% of its revenues from the ownership, leasing, management, construction, sale or financing of commercial, industrial or residential real estate, or has at least 50% of its assets in real estate.

As used herein, “managed assets” means the net asset value of the Fund’s common shares plus the liquidation preference of RIF’s preferred shares and the principal amount of the Fund’s outstanding borrowings.

Investment Objectives” are fundamental policies that cannot be changed without shareholder approval.

Principal Investment Policies (or Criteria) are applicable under normal market conditions, are measured at the time of the investment and are non-fundamental policies that may be changed by the board of trustees of the Fund without prior shareholder approval.

For considerations of risk related to an investment in RMR Real Estate Income Fund, please refer to these
Risk Considerations

For further Risk Considerations, please click here.

Carefully consider RIF’s investment objectives, risk factors and expenses.  This and other information can be found in RIF’s SEC filings which may be obtained by visiting the SEC Edgar database or the “SEC Filings” section of this website.  Read these filings carefully before investing.

RIF is subject to numerous risks, including investment risks.  Shares of closed-end funds often trade at a discount from their net asset value.  RIF is not a complete investment program and you may lose money investing in RIF.  An investment in RIF may not be appropriate for all investors.

RIF is a closed-end fund and its common shares are only available for purchase and sale at current market price on the NYSE American.  A closed-end fund’s dividend yield, market price and net asset value will fluctuate with market conditions.  Closed-end funds may trade at a premium to NAV but often trade at a discount, and RIF has historically traded at a discount to NAV.  Information for RIF is provided for informational purposes only and does not constitute a solicitation of an offer to buy or sell RIF shares.

There can be no assurance that the Fund’s investment objectives will be achieved or that the Fund’s investment program will be successful.