Seven Hills Realty Trust Closes $45.0 Million Bridge Loan to Finance the Acquisition of a Hotel in Boston, Massachusetts
17 Décembre 2024 - 11:40PM
Business Wire
Seven Hills Realty Trust (Nasdaq: SEVN) today announced the
closing of a $45.0 million first mortgage floating rate bridge loan
to finance the acquisition of Club Quarters Hotel, a 178-room hotel
located at 161 Devonshire Street in Boston, Massachusetts.
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 JLL, which advised Arch &
Devonshire LLC, the borrower.
Tom Lorenzini, President and Chief Investment Officer of SEVN,
made the following statement:
“The Club Quarters Hotel benefits from being
near the Massachusetts State House, Faneuil Hall, Boston Common,
the Boston Theatre District and many significant historical sites.
The closing of the loan to finance the acquisition of this hotel
demonstrates our ability to identify and execute compelling loan
investment opportunities. Furthermore, we continue to be active in
the market and maintain a strong pipeline of quality loan
opportunities to generate 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
SEVN continuing to be active in the market and maintaining a strong
pipeline of quality loan opportunities and 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/20241217402135/en/
Timothy Bonang, Senior Vice President (617) 231-3223
www.sevnreit.com
Seven Hills Realty (NASDAQ:SEVN)
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