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Mr. Portnoy has been one of the Managing Trustees since 2007. Mr. Portnoy served as a Managing Trustee of Tremont Mortgage Trust from 2017 until its merger into the company. Mr. Portnoy is a Managing Director, President and Chief Executive Officer of The RMR Group Inc. (Nasdaq: RMR) and President and Chief Executive Officer of The RMR Group LLC. Mr. Portnoy also serves on the Boards of several companies managed by The RMR Group LLC, including: Service Properties Trust (Nasdaq: SVC), Diversified Healthcare Trust (Nasdaq: DHC), Office Properties Income Trust (Nasdaq: OPI), Industrial Logistics Properties Trust (Nasdaq: ILPT), AlerisLife Inc. (Nasdaq: ALR), TravelCenters of America Inc. (Nasdaq: TA) and Sonesta International Hotels Corporation (Private). Mr. Portnoy is also a Director of Tremont Realty Capital LLC, a wholly owned SEC registered investment adviser subsidiary of The RMR Group LLC.

Prior to joining RMR in 2003, Mr. Portnoy held various positions in the finance industry and public sector, including working as a banker at Donaldson, Lufkin & Jenrette and ABN AMRO, working in private equity at the International Finance Corporation (a member of The World Bank Group) and DLJ Merchant Banking Partners, as well as serving as Chief Executive Officer of a telecommunications company. Mr. Portnoy currently serves as Chair of the Board of Directors of the Pioneer Institute, as a member of the executive committee of the Board of Directors of the Greater Boston Chamber of Commerce and as the Honorary Consul General of the Republic of Bulgaria to the Commonwealth of Massachusetts, and he is formerly a member of the Board of Trustees of Occidental College and the Board of Governors of the National Association of Real Estate Investment Trusts (Nareit). Mr. Portnoy graduated with a Bachelor’s degree in Public Policy from Occidental College in 1993.