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Government Properties Income Trust Announces Board and Management Changes

10/25/2018

David Blackman Appointed as a Managing Trustee Following Mark Kleifges’s Retirement

Jeff Leer Appointed as Chief Financial Officer and Treasurer

NEWTON, Mass.--(BUSINESS WIRE)-- Government Properties Income Trust (Nasdaq: GOV) today announced that David M. Blackman has been appointed as Managing Trustee of GOV, and Jeffrey C. Leer has been appointed as Chief Financial Officer and Treasurer, both effective January 1, 2019.

Mr. Blackman joined The RMR Group (Nasdaq: RMR) in 2009 and has been a member of the senior executive team since that time. Mr. Blackman will continue to serve as President and Chief Executive Officer of GOV, Executive Vice President of The RMR Group (Nasdaq: RMR), Managing Trustee, President and Chief Executive Officer of Select Income REIT (Nasdaq: SIR), and Managing Trustee, President and Chief Executive Officer of Tremont Mortgage Trust (Nasdaq: TRMT). Prior to joining RMR in 2009, Mr. Blackman was a real estate banker at Wachovia Corporation and its predecessors for over 20 years.

Mr. Leer was recently promoted to Senior Vice President of RMR and he is currently responsible for the day to day oversight of the accounting and finance support functions of RMR and various affiliates. Mr. Leer has been with RMR for over five years in various accounting leadership functions. Prior to joining RMR, Mr. Leer held accounting and finance positions at several Fortune 500 companies as well as practiced for several years in public accounting. Mr. Leer is also a certified public accountant.

Both Mr. Blackman and Mr. Leer succeed Mark L. Kleifges who is retiring and therefore resigning from his positions at both GOV and RMR effective December 31, 2018. Mr. Kleifges has been with GOV since 2010, and he has been with RMR since 2002. To ensure a smooth transition, Mr. Kleifges will remain a non-executive employee of RMR until his retirement on June 30, 2019.

Adam D. Portnoy, Managing Trustee of GOV and Managing Director, President and Chief Executive Officer of RMR, made the following statement:

“Mark has been with GOV since its founding in 2010 and has been instrumental in its growth from just over $1 billion in gross assets to the almost $4 billion government leased office REIT it is today. During that time, he successfully achieved and maintained an investment grade rating for GOV and orchestrated the closing of numerous debt and equity transactions. On behalf of the GOV and RMR Boards, I want to thank Mark for his many years of exceptional service.”

Mr. Leer has also been recently appointed as Chief Financial Officer and Treasurer of Select Income REIT (Nasdaq: SIR).

Government Properties Income Trust is a real estate investment trust, or REIT, which primarily owns properties located throughout the United States that are majority leased to government tenants and office properties in the metropolitan Washington, D.C. market area that are leased to government and private sector tenants. GOV is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, MA.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

Government Properties Income Trust
Brad Shepherd, 617-219-1410
Senior Director, Investor Relations
www.govreit.com

Source: Government Properties Income Trust

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