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The RMR Group Appoints Summit Walia as Vice President, Head of Residential Acquisitions

Newton, MA– The RMR Group introduced the appointment of Summit Walia as Vice President, Head of Residential Acquisitions. On this new position, Mr. Walia will lead the execution of RMR Residential’s funding technique nationwide and can report back to Rob Lester, Senior Vice President, Chief Funding Officer, Residential.

Mr. Walia joins RMR with greater than 20 years of actual property funding and management expertise at massive institutional asset managers the place he has closed greater than $5.2 billion in acquisitions, together with greater than $4.1 billion in acquisitions within the residential sector.

Most not too long ago, Mr. Walia was Managing Director, Actual Property Acquisitions for LaSalle Funding Administration the place he led a workforce that executed transactions throughout all asset lessons and sourced investments throughout the chance spectrum within the western United States. Beforehand, he was Government Director, Actual Property Acquisitions for JP Morgan Asset Administration.

Adam Portnoy, President & Chief Government Officer, made the next assertion:
“We welcome Summit to RMR’s management workforce and look ahead to leveraging his
expertise as we give attention to deploying fairness capital. We imagine his market information
and multifamily funding experience will improve our means to efficiently execute on
residential acquisition alternatives.”

The appointment of Mr. Walia underscores RMR’s dedication to residential actual property
and its give attention to development by way of non-public capital. This strategic rent follows RMR’s 2023
acquisition of a vertically built-in multifamily platform, now referred to as RMR Residential, which has roughly $5.5 billion of belongings below administration. RMR Residential is actively searching for alternatives to broaden its investor base, strengthen its aggressive place and increase its product and repair choices. In his new position, Mr. Walia will lead RMR Residential’s workforce of residential funding professionals chargeable for sourcing and shutting residential acquisitions throughout the U.S.

Mr. Lester made the next assertion: “As a extremely skilled actual property skilled with a robust funding acumen, Summit is the best particular person to steer our acquisitions workforce. He’s well-known and properly revered inside the multifamily sector and we’re excited to have him be a part of our workforce and additional drive our acquisition efforts as we proceed to develop our platform.”

Mr. Walia earned a Bachelor’s diploma with honors in Enterprise and Finance from The
College of Texas at Austin. He serves as an Advisory Council Member of The College of
Texas Actual Property and Finance Funding Heart, as a Gold Member of the City Land
Institute Multifamily Council and as a Member of the Nationwide Multifamily Housing Council.

The RMR Residential acquisitions workforce contains Michael Palmer, Senior Director,
Acquisitions; Brent Josephson, Senior Director, Acquisitions; and Thomas Evans, Director,
Acquisitions. Mr. Palmer has greater than 10 years of economic actual property funding and
capital markets expertise. Most not too long ago, Mr. Palmer has held senior funding roles with
RMR Residential. Beforehand, he additionally held roles at JLL and Raymond James. Mr. Josephson
additionally has greater than 10 years of actual property non-public fairness, debt funding and funding
banking expertise. Beforehand, Mr. Josephson held roles at Cottonwood Group, Credit score Suisse and ICG Advisors. Mr. Evans has seven years of economic actual property funding
expertise. Beforehand, Mr. Evans was Senior Funding Affiliate for Hawthorne Residential Companions and Senior Affiliate for Duff & Phelps.

The RMR Group is a number one U.S. various asset administration firm, distinctive for its
give attention to business actual property (CRE) and associated companies. RMR’s vertical integration is
supported by over 1,100 actual property professionals in additional than 35 places of work nationwide who
handle over $41 billion in belongings below administration and leverage greater than 35 years of
institutional expertise in shopping for, promoting, financing and working CRE. RMR advantages from a scalable platform, a deep and skilled administration workforce and a range of direct actual property methods throughout its shoppers. RMR is headquartered in Newton, MA and was based in 1986.

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