Seven Hills Realty Trust - SEVN STOCK NEWS

Seven Hills Realty Trust (Nasdaq: SEVN) has successfully closed two first mortgage bridge loans totaling $53.3 million, with initial advances amounting to $49.2 million. The first loan, worth $37.3 million, funds the acquisition of Aspen Heights, a 958-bed student housing facility in Starkville, Mississippi. The second loan of $16.0 million refinances Bed Bath & Beyond Plaza, an 86,000-square-foot shopping center in Delray Beach, Florida. Both loans come with initial terms and extension options, showcasing SEVN's strong investment strategy.

Seven Hills Realty Trust (Nasdaq: SEVN) has appointed Phyllis M. Hollis as an Independent Trustee, increasing the board's diversity and independence. The board now includes 71% independent trustees, 29% women, and 14% members of underrepresented communities. Hollis brings over 30 years of experience in financial services, including roles in investment banking and capital raising. Adam Portnoy, Chair of the Board, expressed confidence that her expertise will enhance shareholder value. Korn Ferry assisted in the nomination process.

Seven Hills Realty Trust (Nasdaq: SEVN) has announced a $125 million master repurchase facility agreement with Wells Fargo Bank. This facility allows SEVN to leverage its commercial mortgage loan investments and features a three-year term with advances of up to 80% on whole loan investments, expandable to $250 million. This financing diversifies SEVN's capital sources and aims to enhance return on equity. Total debt capacity is now over $750 million, supporting expansion of its investment portfolio to nearly $1 billion.

Seven Hills Realty Trust (Nasdaq: SEVN) reported record loan originations of $165 million and a net income per share of $1.42 for the fourth quarter of 2021. Adjusted Distributable Earnings per share was $0.21. The company declared a 67% increase in its quarterly distribution to $0.25 per share, supported by $650 million in total loan commitments. SEVN also closed a $100 million financing facility with BMO Harris Bank, enhancing its investment capabilities. Overall, the results reflect strong operational performance and a positive outlook for growth.

Seven Hills Realty Trust (Nasdaq: SEVN) announced it will release its fourth quarter 2021 financial results on February 17, 2022. A conference call featuring President Tom Lorenzini and CFO Doug Lanois will follow on February 18, 2022, at 10:00 a.m. ET. Investors can participate by calling (877) 270-2148 in the U.S. or (412) 902-6510 internationally. The call will also be available via live audio webcast on the company’s website, with replay access until February 25, 2022.

Seven Hills Realty Trust (Nasdaq: SEVN) has announced the dividend characterization for 2021 tax reporting. Shareholders should note the total dividend distribution of $0.45 per share, with $0.3543 classified as ordinary income. The dividends were declared on April 15, July 15, and August 27, 2021. The company advises shareholders to refer to IRS Form 1099-DIV for tax reporting purposes. SEVN primarily engages in originating and investing in first mortgage loans secured by middle market and transitional commercial real estate.

Seven Hills Realty Trust (Nasdaq: SEVN) announced a substantial raise in its quarterly cash distribution, increasing it by $0.10 per share, or 67%, to $0.25 per share ($1.00 per year). The new distribution will be given to shareholders of record as of January 24, 2022, and will be distributed on or about February 17, 2022. This positive move reflects the company’s confidence in sustaining its financial obligations and supporting shareholder income.

Seven Hills Realty Trust (Nasdaq:SEVN) announced the closing of a $35 million first mortgage floating-rate bridge loan for the acquisition of the Charleston Trade Center, a 431,000 square foot industrial warehouse in Summerville, South Carolina. The loan has an initial term of three years with two one-year extension options. SEVN's diversified investment portfolio now exceeds $600 million. The investment strategy focuses on high-quality loans with strong cash flow from well-capitalized sponsors, positioning SEVN for further growth.

Seven Hills Realty Trust (Nasdaq:SEVN) has closed a $42.5 million floating-rate bridge loan to refinance The Gateway Center, a 272,000 square foot shopping center in West Bloomfield, Michigan. The initial funding is $37.4 million, with an additional $5.1 million for tenant improvements. The loan features a two-year term with a one-year extension option. SEVN's President, Tom Lorenzini, highlighted the company's ongoing momentum in commercial mortgage lending and a strong investment pipeline for the upcoming year.