NEWTON, Mass., December 22, 2021–(BUSINESS WIRE)–Seven Hills Realty Trust (Nasdaq:SEVN) at present introduced the closing of a $35.0 million first mortgage floating-rate bridge mortgage to finance the acquisition of Charleston Commerce Middle, a 431,000 sq. foot industrial warehouse constructing positioned at 574 Commerce Middle Parkway in Summerville, South Carolina. The mortgage is structured with a three-year preliminary time period with two one-year extension choices, topic to the borrower assembly sure necessities. SEVN’s supervisor, Tremont Realty Capital, was launched to the transaction by JLL Capital Markets, which suggested the sponsor, Lightstone Group.
Tom Lorenzini, President of SEVN, made the next assertion:
“The closing of this $35 million first mortgage mortgage continues the expansion and actual property sector diversification of SEVN’s funding portfolio. This mortgage is secured by a newly constructed Class-A warehouse distribution facility positioned in one in every of Charleston’s strongest industrial submarkets and exemplifies our give attention to investing in prime quality loans supported by properly capitalized sponsors and properties with sturdy money circulate. Our portfolio now exceeds $600 million of dedicated capital and we look ahead to persevering with our progress on rising mortgage manufacturing and positioning SEVN for future progress.”
Seven Hills Realty Trust (Nasdaq:SEVN) is an actual property finance firm that originates and invests in first mortgage loans secured by center market and transitional industrial actual property. SEVN is managed by Tremont Realty Capital, an affiliate of The RMR Group Inc. (Nasdaq:RMR), a number one U.S. different asset administration firm with over $32 billion in belongings below administration and 35 years of institutional expertise in shopping for, promoting, financing and working industrial actual property. For extra details about SEVN, please go to www.sevnreit.com.
Tremont Realty Capital is a direct lender that originates and invests in loans secured by center market and transitional industrial actual property. For extra details about Tremont Realty Capital please go to www.tremontcapital.com.
WARNING CONCERNING FORWARD-LOOKING STATEMENTS
This press launch incorporates statements that represent forward-looking statements throughout the that means of the Personal Securities Litigation Reform Act of 1995 and different securities legal guidelines. Additionally, each time SEVN makes use of phrases similar to “consider,” “anticipate,” “anticipate,” “intend,” “plan,” “estimate,” “will,” “might” and negatives or derivatives of those or comparable expressions, SEVN is making forward-looking statements. These forward-looking statements are based mostly upon SEVN’s current intent, beliefs or expectations, however forward-looking statements are usually not assured to happen and should not happen. Precise outcomes might differ materially from these contained in or implied by SEVN’s forward-looking statements on account of varied components. Ahead-looking statements contain identified and unknown dangers, uncertainties and different components, a few of that are past SEVN’s management. For instance:
This press launch references latest loans closed and future plans to additional enhance mortgage origination quantity, additional diversify our portfolio and proceed to broaden SEVN, which can suggest that SEVN will shut extra loans, that it’s going to obtain elevated portfolio diversification and that its enterprise will proceed to enhance consequently. Nevertheless, SEVN’s enterprise and talent to execute loans and notice its funding goal are topic to varied dangers, together with the aggressive nature of the business by which it operates, in addition to different components, a lot of that are outdoors its management, similar to the present COVID-19 pandemic. These dangers and different components might stop SEVN from efficiently closing extra loans and realizing its funding goal. Additional, as soon as SEVN invests or commits its remaining capital, its capability to proceed to develop and fund loans shall be topic to its capability to acquire extra cost-effective capital or its redeploying proceeds from repayments of its mortgage investments.
The data contained in SEVN’s filings with the Securities and Alternate Fee, or SEC, together with below “Danger Components” in SEVN’s periodic reviews or included therein, identifies different necessary components that might trigger SEVN’s precise outcomes to vary materially from these acknowledged in or implied by SEVN’s forward-looking statements. SEVN’s filings with the SEC can be found on the SEC’s web site at www.sec.gov.
You shouldn’t place undue reliance upon forward-looking statements.
Besides as required by regulation, SEVN doesn’t intend to replace or change any forward-looking statements on account of new data, future occasions or in any other case.
A Maryland Actual Property Funding Belief with transferable shares of useful curiosity listed on the Nasdaq.
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Kevin Barry, Director, Investor Relations