XML 53 R31.htm IDEA: XBRL DOCUMENT v3.25.0.1
Business and Property Management Agreements with RMR (Tables)
12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
For the years ended December 31, 2024 and 2023, the business management fees, property management fees and construction supervision fees and expense reimbursements recognized in our consolidated financial statements were as follows:
Year Ended December 31,
20242023
Pursuant to business management agreement:
Business management fees (1)
$13,145 $14,751 
Pursuant to property management agreement:
Property management fees (2)
$13,584 $14,890 
Construction supervision fees2,872 8,390 
$16,456 $23,280 
Expense Reimbursement:
Property level expenses
$25,797 $25,872 
(1)The net business management fees we recognized for the years ended December 31, 2024 and 2023 each reflect a reduction of $603 for the amortization of the liability we recorded in connection with our former investment in RMR Inc.
(2)The net property management fees we recognized for the years ended December 31, 2024 and 2023 each reflect a reduction of $484 for the amortization of the liability we recorded in connection with our former investment in RMR Inc.