Adam D. Portnoy
BOSTON – The Boston Real Estate Times, one of New England’s largest digital, video and print real estate media outlets, now bears the name Adam D. Portnoy how Person of the year 2021.
Mr. Portnoy led The RMR group (Nasdaq: RMR) by transforming it into a leading alternative asset management company in the country with more than $ 32 billion in assets under management and a focus on commercial real estate and related businesses.
“We at the Boston Real Estate Times are pleased to honor Mr. Portnoy for transforming the RMR Group into a national giant since joining the company in 2003,” said Upendra Mishra, publisher of Boston Real Estate Times. “In addition to his role at the helm of RMR, Mr. Portnoy is a leader in the Boston business community. In 2020 he was named chairman of the Pioneer Institute and joined the board of directors of the Greater Boston Chamber of Commerce in 2021. “
Mr. Portnoy will be honored at the Boston Real Estate Times Annual Excellence Awards ceremony on October 29, 2021. Due to COVID-19, this year’s event will take place virtually. As part of the event, the Real Estate Times Excellence Awards 2021 will also be presented in various categories.
“I am proud to be President and CEO of The RMR Group, a leading alternative asset manager with $ 32.4 billion in assets under management, a vertically integrated platform and nationwide reach,” said Portnoy, President and Chief Executive Officer of The RMR Group. “I appreciate this recognition from the Boston Real Estate Times and share this honor with the talented, entrepreneurial team at RMR who work tirelessly with me to achieve significant results for RMR and our clients.”
In a year marked by significant market uncertainty, the RMR team, led by Mr. Portnoy, has achieved significant achievements for RMR and its clients, including: Implementing a successful capital recycling strategy including 287 million Office Properties Income Trust (Nasdaq: OPI); Completed a $ 680 million joint venture for Industrial Logistics Properties Trust (Nasdaq: ILPT); Transition of over 200 hotels from other hotel operators to Sonesta Hotels for Service Properties Trust (Nasdaq: SVC); Restructuring agreements with senior care facility operators for Diversified Healthcare Trust (Nasdaq: DHC); successfully completing over $ 2 billion in total in customer loan offers; Executed 7.7 million square feet of leases in the first nine months of fiscal 2021, in addition to 8.8 million square feet of leases in 2020; Completed Muse $ 100 million redevelopment in Torrey Pines, San Diego and commenced major new developments at 20 Massachusetts Ave in Washington, DC and the East Bank of Nashville; and National Recognition from the US EPA and Building Owners and Managers Association International’s ENERGY STAR program for managing a statewide portfolio of 91 million square feet of office, industrial, doctor’s office, life science and retail space.
In addition to serving as CEO and President of RMR, Mr. Portnoy was named chairman of the Pioneer Institute in 2020 and joined the board of directors of the Greater Boston Chamber of Commerce in 2021.
He is currently Honorary Consul General of the Republic of Bulgaria with the Commonwealth of Massachusetts. Mr. Portnoy earned a bachelor’s degree in public policy from Occidental College in 1993. He has lived in Massachusetts for a long time and lives in Boston with his wife Elika and their two children.
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