Seven Hills Realty Trust - SEVN STOCK NEWS

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.

Seven Hills Realty Trust (Nasdaq: SEVN) has successfully closed a $23.5 million first mortgage floating-rate bridge loan to refinance the Woodland Corporate Tower, a 185,000 square foot office property in Downers Grove, Illinois. The loan comes with a three-year initial term and two one-year extension options. This transaction marks SEVN's second collaboration with the sponsor within a year, indicating strong business relationships. SEVN aims to enhance its loan origination volume, focusing on capital preservation and attractive returns.

Seven Hills Realty Trust (Nasdaq:SEVN) has closed an $18 million first mortgage floating-rate bridge loan to acquire Aspen Ames, a student housing property in Ames, Iowa. An initial amount of approximately $17.7 million was funded at closing, with future advances of $300,000 available for capital expenditures. The loan includes a three-year term and options for two one-year extensions. SEVN aims to diversify its portfolio and strengthen its position in middle market and transitional commercial mortgage lending.

Seven Hills Realty Trust (Nasdaq: SEVN) has secured a $100 million note on note financing facility with BMO Harris Bank. This strategic move aims to enhance its capital sources and leverage commercial mortgage loan investments. The financing allows for up to an 80% advance rate and is designed to align with the terms of the company's loan portfolio without subjecting it to margin calls. CFO Doug Lanois emphasized that this arrangement will support SEVN's growth strategy and improve investment returns for shareholders.

Seven Hills Realty Trust (Nasdaq: SEVN) has successfully closed a $21 million floating-rate bridge loan to acquire Bellevue Terrace, a 72,000-square-foot multi-tenant office property in Bellevue, Washington. The initial funding of approximately $20 million will support the purchase, with an additional $1 million available for improvements. The loan, managed by Tremont Realty Capital, has a three-year term with extension options. SEVN's President, Tom Lorenzini, highlighted the company's aim to grow its portfolio by funding well-leased properties and stated a positive outlook on future transactions.

Seven Hills Realty Trust (Nasdaq: SEVN) completed its merger with Tremont Mortgage Trust (TRMT) on September 30, 2021. The merger resulted in a combined portfolio with over $526 million in capital. For Q3 2021, SEVN reported net income of $2.5 million, or $0.24 per share, and distributable earnings also at $2.5 million, reflecting a significant increase from Q2. SEVN's loan commitments totaled $525.9 million with a weighted average coupon rate of 4.86%. Despite a decrease in book value per share to $16.32, the company aims to leverage its expanded liquidity for future investments.