DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT
2/13/07
1. NAME OF REPORTING PERSON
Bulldog Investors, Phillip Goldstein and Andrew Dakos
2. CHECK THE BOX IF MEMBER OF A GROUP a[ ]
b[ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
________________________________________________________________
7. SOLE VOTING POWER
414,500
8. SHARED VOTING POWER
0
9. SOLE DISPOSITIVE POWER
414,500
_________________________________________________________
10. SHARED DISPOSITIVE POWER
0
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
414,500
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES []
13. PERCENT OF CLASS REPRESENTED BY ROW 11
6.07
14. TYPE OF REPORTING PERSON
IA
________________________________________________________________
Item 1. SECURITY AND ISSUER
This Schedule 13D relates to the shares of Common Stock of
RMR Real Estate Fund ("RMR").The principal executive offices of RMR are
located at 400 Centre Street, Newton, MA 02458.
Item 2. IDENTITY AND BACKGROUND
This statement is filed on behalf of Bulldog Investors,
Phillip Goldstein, 60 Heritage Drive, Pleasantville, NY 10570 a
principal of Bulldog Investors and Andrew Dakos, Park 80 West, Plaza
Two, Saddle Brook, NJ 07663, also a principal of Bulldog Investors.
Mr.Goldstein and Mr. Dakos are self-employed investment
advisors.
During the past 5 years none of the above has been
convicted in a criminal proceeding, nor been party to a civil
proceeding of a judicial or administrative body of competent
jurisdiction as a result of which they were or are subject to a
judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state
securities laws or finding any violation with respect to such laws.
Each of the above are United States citizens.
ITEM 3. SOURCE AND AMOUNT OF FUNDS AND OTHER CONSIDERATIONS
Shares of the issuer have been accumulated with funds from accounts
managed by the reporting persons.
ITEM 4. PURPOSE OF TRANSACTION
RMR?s market price has persistently been significantly less than its
net asset value. The reporting persons will monitor RMR's discount and
may take actions in the future to increase the value of their
investment if RMR's stock continues to trade at a significant discount
to its net asset value.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
As per the NCRS filed on 8/21/2006 there were
6,824,000 shares of RMR outstanding as of 6/30/06. The
percentage set forth in item 5 was derived using such number.
Phillip Goldstein, Andrew Dakos and accounts managed by the reporting
persons beneficially own an aggregate of 414,500 shares of RMR or
6.07% of the outstanding shares.
Power to dispose and vote securities lie solely with Phillip Goldstein
and Andrew Dakos.
c) During the past 60 days the following shares of RMR were
purchased (there were no sales):
Date Shares Price
1/3/2007 300 17.4
1/4/2007 1,700 17.4
1/5/2007 3,000 17.31
1/17/2007 2,800 17.7999
1/17/2007 1,000 17.7999
1/17/2007 900 17.7999
1/17/2007 3,500 17.7999
1/18/2007 1,600 17.8
2/13/2007 72,000 18.1
2/13/2007 23,000 18.1
2/13/2007 6,800 18.1
2/13/2007 21,000 18.1
2/13/2007 19,000 18.1
2/13/2007 89,000 18.1
2/14/2007 1,600 18.05
2/14/2007 500 18.05
2/14/2007 500 18.05
2/14/2007 400 18.05
2/14/2007 2,000 18.05
2/16/2007 1,300 17.8385
2/20/2007 3,200 17.9825
2/22/2007 1,500 18.01
2/22/2007 2,200 18.01
d) Beneficial Owners of the accounts managed by the reporting
persons are entitled to receive any dividends or sales proceeds.
e) NA
ITEM 6. CONTRACTS,ARRANGEMENTS,UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 1. Joint Filing Agreement
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Dated: 2/23/07
By: /s/ Phillip Goldstein
Name: Phillip Goldstein
By: /s/ Andrew Dakos
Name:: Andrew Dakos
Exhibit 1. Joint Filing Agreement
In accordance with Rule 13d-1 (k) (1) under the Securities
Exchange Act of 1934, as amended, the persons named below
agree to the joint filing on behalf of each of them of the
Schedule 13D (and all further amendments filed by them)
with respect to the shares of RMR.
Dated: 2/23/07
By: /s/ Phillip Goldstein
Name: Phillip Goldstein
By: /s/ Andrew Dakos
Name: Andrew Dakos