Seven Hills Realty Trust Close

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Seven + Hills + Realty + Trust +% 28Nasdaq% 3A + SEVN% 29 today announced the closing of a $ 24.8 million variable rate bridge loan to refinance Centerpoint Plaza, a 98,000 square foot multi-tenant office building located at 5910 Priestly Drive in Carlsbad, California .

An initial advance of approximately $ 23.7 million was funded at closing with future advances of approximately $ 1.1 million available for leasehold improvements, rental commissions and capital expenditures. The loan is structured with an initial term of three years and two options for one year extension, subject to the borrower meeting certain conditions. director of SEVN, Tremont + Real Estate + Capital, was introduced into the transaction by Newmark.

Tom + Lorenzini, President of SEVN, made the following statement:

“We are proud to announce the closing of the first loan from our recently renamed company, Seven Hills Realty Trust, resulting from the merger of RMR Mortgage Trust and Tremont Mortgage Trust. This Senior Mortgage is secured by a well-leased, high-quality office building in the North San Diego County submarket and has an attractive risk-adjusted return profile. Our origination platform is actively evaluating a strong pipeline of new loan opportunities to invest SEVN’s available capital and continue to leverage our growth momentum.

Seven + Hills + Realty + Trust +% 28Nasdaq% 3A + SEVN% 29 is a real estate finance company that creates and invests in senior mortgages secured by middle and bridging commercial real estate. SEVN is managed by Tremont + Real Estate + Capital, a wholly owned subsidiary of The RMR Group LLC. The RMR Group LLC is an alternative management company, majority owned by Le + RMR + Groupe + Inc. +% 28Nasdaq% 3A + RMR% 29, with over $ 32 billion in assets under management and 35 years of institutional experience buying, selling, financing and operating commercial real estate. For more information on SEVN, please visit www.sevnreit.com.

Tremont + Real Estate + Capital is a direct lender that creates and invests in secured middle market loans and bridging commercial real estate. For more information on Tremont Realty Capital, please visit www.tremontcapital.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Additionally, whenever SEVN uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, SEVN makes forward-looking statements. These forward-looking statements are based on SEVN’s current intention, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained or implied by SEVN’s forward-looking statements due to various factors. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond SEVN’s control. For example:

  • This press release refers to recently concluded loans and future plans to drive the growth of SEVN, which may imply that SEVN will close additional loans and its business will continue to improve accordingly. However, SEVN’s business and its ability to execute loans and achieve its investment objective are subject to various risks, including the competitive nature of the industry in which it operates, as well as other factors, many of which are beyond the control of its control, such as the covid19 pandemic. These risks and other factors may prevent SEVN from successfully entering into additional loans, carrying out new activities and achieving its investment objective. In addition, once SEVN has invested or committed its remaining capital, its ability to continue to grow and finance loans will be subject to its ability to raise profitable additional capital or redeploy the proceeds from repayments of its loan investments.

Information contained in documents filed by SEVN with the Securities and Exchange Commission, or SEC, including under the heading “Risk Factors” in or incorporated into SEVN’s periodic reports, identifies other important factors that could cause SEVN’s actual results to differ materially from those indicated or implied by SEVN’s forward-looking statements. The documents filed by SEVN with the SEC are available on the SEC’s website at www.sec.gov.

You should not place undue reliance on forward-looking statements.

Except as required by law, SEVN does not intend to update or modify any forward-looking statements as a result of new information, future events or otherwise.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211102005385/en/

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