Office Properties Income Trust — Cyborg Score 1/10

Challenged
Real Estate Investment Trust (REIT) - Office

Strategic Profile

OPI owned 125 properties as of June 30, 2025, with approximately 17.3 million square feet located in 29 states and Washington, D.C. OPI is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with approximately $40 billion in assets under management as of June 30, 2025. The company faces significant financial challenges amid a declining office real estate market.

Cyborg Score Rationale

OPI missed roughly $30M in debt service payments and had informed its creditor that it expects to be in default on their agreement. Office Properties Income Trust will be delisted from the Nasdaq Stock Market as its debt troubles deepen. The company is currently in Chapter 11 bankruptcy reorganization.

Top Insights

  • Filed for Chapter 11 bankruptcy protection on October 30, 2025, citing inability to service debt obligations
  • Delisted from NASDAQ and moved to over-the-counter trading due to falling below $1 per share minimum threshold
  • Stock has declined from ~$30 per share in 2021 to ~$0.27 as of late 2025, reflecting structural office sector challenges
  • U.S. government is the largest tenant; ~59% of revenues from investment-grade rated tenants provides some stability

Named Competitors

  • Office REIT Portfolio — Office REIT with portfolio in sunbelt markets
  • Office REIT Portfolio — Office REIT focused on prime office locations
  • Office REIT Portfolio — Office REIT with focus on trophy assets

Recent Developments

  • (October 2025) Filed Chapter 11 bankruptcy petition in Southern District of Texas
  • (October 2025) Delisted from NASDAQ due to failure to maintain $1 per share minimum; stock moved to OTC trading
  • (September 2025) Missed approximately $30 million in debt service payments; expected default on credit facility
  • (September 2025) Appointed John Castellano from AlixPartners as Chief Restructuring Officer

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