Business and Property Management Agreements with RMR (Tables)

6 Months Ended

Jun. 30, 2025

Schedule Of Business Management And Operating Expenses

For the three and six months ended June 30, 2025 and 2024, the business management fees, incentive management fees, property management fees, construction supervision fees and expense reimbursements recognized in our condensed consolidated financial statements were as follows:


	Financial Statement	Three Months Ended June 30,				Six Months Ended June 30,
	Line Item	2025		2024		2025		2024
Pursuant to business management agreement:
Business management fees	General and administrative expenses	$	5,754	$	5,809	$	11,489	$	11,639
Incentive management fees	General and administrative expenses	1,311		—		2,278		—
Total		$	7,065	$	5,809	$	13,767	$	11,639

Pursuant to property management agreement:


Property management fees	Other operating expenses	$	3,238	$	3,116	$	6,505	$	6,446
Construction supervision fees	Buildings and improvements (1)	87		115		117		188
Total		$	3,325	$	3,231	$	6,622	$	6,634

Expense reimbursement:
Other expenses	General and administrative expenses	$	51	$	82	$	101	$	164
Property level expenses	Other operating expenses	1,736		1,565		3,306		3,170
Total		$	1,787	$	1,647	$	3,407	$	3,334

(1)Amounts capitalized as buildings and improvements are depreciated over the estimated useful lives of the related assets.

Industrial Logistics Properties Trust 10-Q