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Seven Hills Realty Trust Closes $18.0 Million Bridge Loan to Finance the Acquisition of a Student Housing Property at Iowa State University

NEWTON, Mass., November 18, 2021–(Small business WIRE)–Seven Hills Realty Trust (Nasdaq:SEVN) right now declared the closing of an $18. million first property finance loan floating-rate bridge loan to finance the acquisition of Aspen Ames, a 422 mattress pupil housing property situated at 3306 Lincoln Way in Ames, Iowa, in the vicinity of the Iowa State University campus.

An first advance of approximately $17.7 million was funded at closing with long run advances of close to $300,000 readily available for capital expenditures. The personal loan is structured with a three-yr initial term and two one-calendar year extension options, subject to the borrower assembly specified necessities. SEVN’s supervisor, Tremont Realty Cash, was introduced to the transaction by Jones Lang LaSalle Included, which advised the sponsor, Centurion Residence Group.

Tom Lorenzini, President of SEVN, manufactured the subsequent statement:

“We carry on to increase and diversify SEVN’s investment decision portfolio with the closing of a initially house loan bank loan for the acquisition of Aspen Ames, a scholar housing local community that is 100% leased and effectively found fewer than a mile from Iowa Condition University’s campus. Our deal pipeline remains strong and we have an outstanding possibility to construct on our momentum and develop SEVN’s origination volume as we continue on our target on center sector and transitional commercial mortgage lending.”

7 Hills Realty Belief (Nasdaq:SEVN) is a actual estate finance corporation that originates and invests in to start with mortgage financial loans secured by middle current market and transitional industrial authentic estate. SEVN is managed by Tremont Realty Funds, a wholly owned subsidiary of The RMR Team LLC. The RMR Team LLC is an choice asset administration firm, the greater part owned by The RMR Team Inc. (Nasdaq:RMR), with above $32 billion in property beneath administration and 35 a long time of institutional expertise in getting, providing, funding and running business genuine estate. For additional data about SEVN, remember to stop by www.sevnreit.com.

Tremont Realty Money is a direct loan company that originates and invests in loans secured by middle marketplace and transitional professional true estate. For far more information about Tremont Realty Funds remember to pay a visit to www.tremontcapital.com.

WARNING Concerning Ahead-Looking STATEMENTS

This press release contains statements that represent forward-searching statements in just the indicating of the Personal Securities Litigation Reform Act of 1995 and other securities laws. Also, anytime SEVN takes advantage of text this kind of as “believe,” “be expecting,” “anticipate,” “intend,” “strategy,” “estimate,” “will,” “may” and negatives or derivatives of these or comparable expressions, SEVN is creating forward-hunting statements. These ahead-wanting statements are based upon SEVN’s current intent, beliefs or anticipations, but ahead-wanting statements are not assured to manifest and may well not arise. Real effects may well differ materially from those people contained in or implied by SEVN’s forward-looking statements as a result of numerous elements. Ahead-on the lookout statements require acknowledged and not known pitfalls, uncertainties and other components, some of which are further than SEVN’s manage. For instance:

  • This press release references new financial loans shut and long term designs to increase SEVN, which may possibly suggest that SEVN will close extra financial loans and that its organization will continue to enhance as a consequence. Nonetheless, SEVN’s business enterprise and means to execute loans and know its expense goal are subject to a variety of pitfalls, which includes the competitive mother nature of the industry in which it operates, as very well as other components, lots of of which are outside its manage, this sort of as the current COVID-19 pandemic. These dangers and other elements may avert SEVN from effectively closing added financial loans, executing its new company and recognizing its investment objective. Additional, when SEVN invests or commits its remaining funds, its potential to continue on to grow and fund financial loans will be subject to its means to attain added cost-effective money or its redeploying proceeds from repayments of its financial loan investments.

The facts contained in SEVN’s filings with the Securities and Exchange Commission, or SEC, together with underneath “Risk Factors” in SEVN’s periodic reports or integrated therein, identifies other important things that could cause SEVN’s actual outcomes to differ materially from those mentioned in or implied by SEVN’s forward-on the lookout statements. SEVN’s filings with the SEC are out there on the SEC’s website at www.sec.gov.

You really should not spot undue reliance upon forward-seeking statements.

Besides as expected by regulation, SEVN does not intend to update or modify any ahead-hunting statements as a end result of new data, foreseeable future functions or if not.

A Maryland Statutory Believe in with transferable shares of advantageous fascination shown on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Believe in.

View supply variation on businesswire.com: https://www.businesswire.com/news/dwelling/20211118006265/en/

Contacts

Kevin Barry, Director, Trader Relations
(617) 658-0776
www.sevnreit.com