Tremont Realty Capital Announces the Closing of a $27 Million Mortgage Loan to Refinance an Industrial Property in Wayne, PA
25 Julio 2024 - 7:00AM
Business Wire
Tremont Realty Capital today announced the closing of a $27
million first mortgage loan to refinance 400 Devon Park Drive, a
138,065 square foot industrial property located at 400 Devon Park
Drive in Wayne, Pennsylvania, an affluent Philadelphia
submarket.
The loan has a three-year initial term with two one-year
extension options, subject to the borrower meeting certain
requirements. Tremont Realty Capital was introduced to the
transaction by JLL, which advised the joint venture sponsorship of
Mainstreet Capital Partners, Inc. and Contrarian Capital
Management, LLC. Funding for the loan was provided by The RMR Group
(Nasdaq: RMR).
Tom Lorenzini, Senior Vice President of Tremont Realty Capital,
made the following statement:
“Tremont continues to be an active participant in middle market
commercial real estate transactions. Including the 400 Devon Park
Drive loan, Tremont has closed more than $100 million in loans in
2024. With a robust pipeline, Tremont is well positioned to execute
quality loan opportunities across all property types.”
About Tremont Realty Capital
Tremont Realty Capital is the commercial real estate finance
division of The RMR Group (Nasdaq: RMR). Tremont is a direct lender
that originates and invests in loans secured by middle market and
transitional commercial real estate on behalf of its capital
sources, including Seven Hills Realty Trust (Nasdaq: SEVN). For
more information about Tremont, please visit
www.tremontcapital.com.
NMLS #1752106
Arizona Commercial Mortgage Banker License
#CBK-0949402
California Finance Lender License
#60DBO-80218
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Christopher Ranjitkar, Vice President, Marketing & Corporate
Communications (617) 219-1473