Exhibit 99.(k)(4)

                           ORGANIZATIONAL AND OFFERING
                        EXPENSES REIMBURSEMENT AGREEMENT

     Agreement made this 20 day of April, 2006, by and between RMR Asia Pacific
Real Estate Fund, a Massachusetts business trust (the "Fund"), and RMR Advisors,
Inc., a Massachusetts corporation (the "Manager").

     WHEREAS, the Fund and the Manager have entered into an Investment Advisory
Agreement dated April 20, 2006 (the "Advisory Agreement");

     NOW THEREFORE, in consideration of the mutual covenants hereinafter
contained, and in connection with the establishment and commencement of
operations of the Fund, it is hereby agreed by and between the parties hereto as
follows:

1.   The Manager agrees to reimburse the Fund for expenses incurred by the Fund
     in connection with the organization of the Fund if the initial public
     offering is not completed. The Manager also agrees that if the initial
     public offering occurs, the Manager will bear all of organizational
     expenses and any of the costs of the initial offering of the common shares
     of beneficial interest of the Fund ("shares") to the extent the costs of
     such offering exceed $0.04 per share. The expenses for which the Fund is
     being reimbursed pursuant to this Agreement do not include (i) the Advisory
     Fee, as defined in the Advisory Agreement, payable by the Fund pursuant to
     the terms of the Advisory Agreement, as such Advisory Fee may be modified
     by the Fee Waiver set forth in the Advisory Agreement, and (ii) any sales
     load or underwriting discount paid by shareholders of the Fund.

2.   If any provision of this Agreement shall be held or made invalid by a court
     decision, statute, rule, or otherwise, the remainder shall not be thereby
     affected.

3.   The Fund's Agreement and Declaration of Trust, as amended to date, is on
     file with the Secretary of The Commonwealth of Massachusetts. This
     Agreement is executed on behalf of the Fund, by the Trustees or by an
     officer or officers of the Fund in their capacity as such and not
     individually, and neither the shareholders nor the Fund's Trustees nor any
     officers, employees or agents shall be liable thereunder and the Advisor
     shall look solely to the Fund's estate for the payment of any claim
     hereunder or for the performance of the Fund's duties created by this
     Agreement.


                  [Remainder of Page Intentionally Left Blank]



     IN WITNESS WHEREOF, the Fund and the Manager have caused this Agreement to
be executed on the day and year above written.

                                    RMR ASIA PACIFIC REAL ESTATE FUND

                                    By: /s/ Thomas M. O'Brien
                                       -----------------------------------------
                                    Name: Thomas M. O'Brien
                                    Title: President

                                    RMR ADVISORS, INC.

                                    By: /s/ Mark L. Kleifges
                                       -----------------------------------------
                                    Name: Mark L. Kleifges
                                    Title: Vice President


        [Signature Page to Organizational and Offering Expense Agreement]