Seven Hills Realty Trust - SEVN STOCK NEWS

Seven Hills Realty Trust (Nasdaq: SEVN) announced a quarterly cash distribution of $0.25 per share, totaling $1.00 annually. The payment will be directed to shareholders on record as of October 24, 2022, with distribution expected around November 17, 2022. SEVN focuses on first mortgage loans secured by commercial real estate and is managed by Tremont Realty Capital, part of The RMR Group, which oversees over $37 billion in assets. The continuation of dividends is subject to their Board's discretion and various financial considerations.

Seven Hills Realty Trust (Nasdaq: SEVN) will release its Q3 2022 financial results on October 26, 2022, post-market. A call led by President Tom Lorenzini and CFO Tiffany Sy is scheduled for October 27, 2022, at 11:00 a.m. ET. Call-in numbers are (866) 739-7850 for U.S. and (412) 317-6592 for international participants. A replay will be available until November 3, 2022. The company specializes in first mortgage loans for middle-market and transitional commercial real estate and is managed by Tremont Realty Capital, affiliated with The RMR Group.

Seven Hills Realty Trust (Nasdaq: SEVN) announced the appointment of Tiffany Sy as Chief Financial Officer and Treasurer, effective October 1, 2022. Sy, a certified public accountant, has been with The RMR Group since 2020 and will succeed Douglas Lanois, who is resigning from his positions effective September 30, 2022. Lanois has played a significant role since joining SEVN in 2021. The transition aims to maintain operational continuity, as Lanois will stay on as a non-executive employee until the end of December 2022.

Seven Hills Realty Trust (Nasdaq: SEVN) has secured a $47.0 million first mortgage floating-rate bridge loan aimed at financing the acquisition and renovation of a 330,000 square foot industrial warehouse in Passaic, New Jersey. An initial $38.4 million was funded at closing, with potential future advances of $8.6 million. This transaction marks SEVN's sixth loan closing this year, increasing its committed capital to over $760 million. The loan is set for a three-year term with two one-year extensions, emphasizing SEVN's strategy to grow and diversify its portfolio.

Seven Hills Realty Trust (Nasdaq: SEVN) reported strong financial results for Q2 2022, highlighting a net income per share of $0.31 and adjusted distributable earnings per share of $0.24. The company achieved $60 million in loan originations, increasing total loan commitments to $735 million, a threefold rise year-over-year. With a portfolio of 100% floating-rate loans, SEVN anticipates higher income as interest rates rise. The company declared a quarterly distribution of $0.25 per common share, totaling $3.6 million for shareholders.

Seven Hills Realty Trust (Nasdaq: SEVN) has announced a quarterly cash distribution of $0.25 per share, totaling $1.00 annually. This distribution will be paid to shareholders of record by July 25, 2022, with payment expected around August 18, 2022. SEVN primarily invests in first mortgage loans secured by transitional commercial real estate, managing over $37 billion in assets as part of The RMR Group's investment strategy.

Seven Hills Realty Trust (Nasdaq: SEVN) will release its Q2 2022 financial results after Nasdaq closes on July 27, 2022. A conference call hosted by President Tom Lorenzini and CFO Doug Lanois will take place on July 28, 2022, at 11:00 a.m. ET. Participants may join the call by dialing (866) 739-7850 (US) or (412) 317-6592 (international). Replay available until August 4, 2022. The call will also be accessible via live audio webcast on the company’s website.

Seven Hills Realty Trust (Nasdaq: SEVN) has closed a $29.0 million floating-rate bridge loan to acquire Sunridge Apartment Homes, a 216-unit multifamily property in Las Vegas, Nevada. The initial funding of $23.1 million was provided at closing, with additional advances of approximately $5.9 million available for capital expenditures. This loan marks SEVN's fifth closing this year, raising its total committed capital to over $730 million. The loan has a three-year term with two one-year extension options, dependent on certain requirements.

Seven Hills Realty Trust (Nasdaq: SEVN) has closed a $31.5 million first mortgage floating-rate bridge loan to finance the acquisition of Summit Apartments, a 154-unit multifamily property in Farmington Hills, Michigan. An initial advance of approximately $28.5 million was made, with up to $3 million available for future capital expenditures. The loan, secured by a fully leased complex, is expected to support future growth as SEVN targets nearly $1 billion in assets. The portfolio now exceeds $700 million in committed capital.