v3.26.1
Shareholders' Equity
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Shareholders' Equity Shareholders' Equity
Rights Offering
In November 2025, we commenced a transferable rights offering, or the Rights Offering, pursuant to which we issued transferable rights to our shareholders of record as of November 10, 2025. The record date shareholders received one transferable right for each outstanding common share they owned on the record date, which entitled them to purchase one new common share for every two rights held. The Rights Offering was fully backstopped by Tremont. In December 2025, we completed the Rights Offering, in which 7,532,861 common shares were issued at $8.65 per share, generating net proceeds of $61,494, after offering costs. See Note 9 for further information regarding the Rights Offering.
Common Share Purchases
During the three months ended March 31, 2026, we purchased 814 of our common shares from certain former officers and employees of Tremont Realty Capital, or Tremont, and the RMR Group LLC, or RMR, in satisfaction of tax withholding and payment obligations in connection with the vesting of awards of our common shares, valued at the closing price of our common shares on The Nasdaq Stock Market LLC, or Nasdaq, on the applicable purchase date. The aggregate value of common shares purchased was $7.
Distributions

For the three months ended March 31, 2026, we declared and paid regular quarterly distributions to common shareholders, using cash on hand, as follows:
Record DatePayment DateDistribution per ShareTotal Distribution
January 26, 2026February 19, 2026$0.28 $6,327 
On April 9, 2026, we declared a quarterly distribution of $0.28 per common share, or $6,327, to shareholders of record on April 21, 2026. We expect to pay this distribution on or about May 14, 2026, using cash on hand.