Seven Hills Realty Trust Closes $42.0 Million Bridge Loan to Refinance a Student Housing Property Near the University of Mississippi
02 Décembre 2024 - 2:00PM
Business Wire
Seven Hills Realty Trust (Nasdaq: SEVN) today announced the
closing of a $42.0 million first mortgage floating rate bridge loan
to refinance The Domain at Oxford, a 642-bed (216-unit) student
housing property located near the University of Mississippi (“Ole
Miss”) in Oxford, Mississippi.
The loan has a three-year initial term with two one-year
extension options, subject to the borrower meeting certain
requirements. SEVN’s manager, Tremont Realty Capital, was
introduced to the transaction by Newmark, which advised Shore to
Shore Properties, Inc., the Sausalito, California based
sponsor.
Tom Lorenzini, President and Chief Investment Officer of SEVN,
made the following statement:
“The Domain at Oxford is expected to benefit from growing demand
for high quality student housing as a result of rising enrollment
at the University of Mississippi. This loan further underscores our
ability to identify and close compelling loan investment
opportunities while generating attractive risk adjusted returns for
our shareholders.”
About Seven Hills Realty Trust
Seven Hills Realty Trust (Nasdaq: SEVN) is a real estate finance
company focused on originating and investing in first mortgage
loans secured by middle market transitional commercial real estate.
SEVN is managed by Tremont Realty Capital, an affiliate of The RMR
Group (Nasdaq: RMR), a leading U.S. alternative asset management
company with nearly $41 billion in assets under management and more
than 35 years of institutional experience in buying, selling,
financing and operating commercial real estate. For more
information about SEVN, please visit www.sevnreit.com.
WARNING CONCERNING 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.
These statements may include words such as “believe,” “expect,”
“anticipate,” “intend,” “plan,” “estimate,” “will,” “may” and
negatives or derivatives of these or similar expressions. These
forward-looking statements include, among others, statements about
the performance of student housing properties and The Domain, as
well as SEVN’s investment focus, ability to complete additional
loan investments in the future and ability to generate attractive
risk adjusted returns for shareholders. Forward-looking statements
reflect SEVN’s current expectations, are based on judgments and
assumptions, are inherently uncertain and are subject to risks,
uncertainties and other factors, which could cause SEVN’s actual
results, performance or achievements to differ materially from
expected future results, performance or achievements expressed or
implied in those forward-looking statements. Some of the risks,
uncertainties and other factors that may cause our actual results,
performance or achievements to differ materially from those
expressed or implied by forward-looking statements include, but are
not limited to, the following: the ability of SEVN to make
additional investments; the success of SEVN’s investments; SEVN’s
available liquidity, access to capital and cost of capital; and
various other matters. These risks, uncertainties and other factors
are not exhaustive and should be read in conjunction with other
cautionary statements that are included in SEVN’s periodic filings
with the Securities and Exchange Commission, or SEC. The
information contained in SEVN’s filings with the SEC, including
under the caption “Risk Factors” in its periodic reports, or
incorporated therein, identifies important factors that could cause
SEVN’s actual results to differ materially from those stated in or
implied by SEVN’s forward-looking statements. SEVN’s filings with
the SEC are available on the SEC’s website at www.sec.gov. You
should not place undue reliance upon forward-looking statements.
Except as required by law, SEVN does not intend to update or change
any forward-looking statements as a result of new information,
future events or otherwise.
A Maryland Real Estate Investment Trust with
transferable shares of beneficial interest listed on the
Nasdaq.
No shareholder, Trustee or officer is
personally liable for any act or obligation of the Trust.
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version on businesswire.com: https://www.businesswire.com/news/home/20241201294139/en/
Timothy Bonang, Senior Vice President (617) 231-3223
www.sevnreit.com
Seven Hills Realty (NASDAQ:SEVN)
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