Seven Hills Realty Trust Closes $16.0 Million Bridge Loan to Recapitalize a Hotel in Orlando, Florida
10 Septiembre 2024 - 7:00AM
Business Wire
Seven Hills Realty Trust (Nasdaq: SEVN) today announced the
closing of a $16.0 million first mortgage floating rate bridge loan
secured by the Home2 Suites by Hilton Lake Mary Orlando, a recently
constructed 123-room extended-stay hotel located at 582 New
Technology Blvd in Lake Mary, Florida.
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 Highgate, a New York City based
sponsor and a repeat borrower of SEVN.
Tom Lorenzini, President and Chief Investment Officer of SEVN,
made the following statement:
“This transaction exemplifies SEVN’s ability to close deals in a
competitive and challenging market, while also enhancing the
diversity of our portfolio with a premium hotel asset. The property
is well located, situated within the Lake Mary Wellness and
Technology Park, approximately 15 miles north of Downtown Orlando
and 30 miles from Disney World and surrounding resorts and parks.
With an active pipeline of quality opportunities, SEVN is committed
to further expanding its presence across key asset classes and
generating attractive risk adjusted returns for its
shareholders.”
About Seven Hills Realty Trust
Seven Hills Realty Trust (Nasdaq: SEVN) is a real estate
investment trust, or REIT, that originates and invests in first
mortgage loans secured by middle market and 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 approximately $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’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/20240909791310/en/
Timothy Bonang, Senior Vice President (617) 231-3223
www.sevnreit.com
Seven Hills Realty (NASDAQ:SEVN)
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