Seven Hills Realty Trust Closes $18.5 Million Bridge Loan to Refinance a Student Housing Property Near Baylor University
Seven Hills Realty Trust (Nasdaq: SEVN) has closed an $18.5 million first mortgage floating rate bridge loan to refinance LL Sams, a 271-bed student housing property located adjacent to Baylor University in Waco, Texas. The loan features a three-year initial term with two one-year extension options, subject to borrower requirements.
The transaction, introduced by JLL to SEVN's manager Tremont Realty Capital, was completed in just over 30 days from application for Shore to Shore Properties, Inc., a Sausalito-based repeat sponsor. The company maintains its focus on secured investment opportunities to grow and diversify its portfolio, with current ample borrowing capacity and an active investment pipeline.
Seven Hills Realty Trust (Nasdaq: SEVN) ha chiuso un prestito ponte a tasso variabile di 18,5 milioni di dollari per rifinanziare LL Sams, una proprietà di alloggio per studenti con 271 posti letto situata accanto alla Baylor University a Waco, Texas. Il prestito prevede un termine iniziale di tre anni con due opzioni di estensione di un anno, soggette ai requisiti del mutuatario.
La transazione, introdotta da JLL al manager di SEVN Tremont Realty Capital, è stata completata in poco più di 30 giorni dalla richiesta da parte di Shore to Shore Properties, Inc., uno sponsor ricorrente con sede a Sausalito. L'azienda mantiene il suo focus su opportunità di investimento garantite per crescere e diversificare il proprio portafoglio, con una capacità di prestito attuale ampia e un attivo pipeline di investimenti.
Seven Hills Realty Trust (Nasdaq: SEVN) ha cerrado un préstamo puente a tasa flotante de 18.5 millones de dólares para refinanciar LL Sams, una propiedad de alojamiento estudiantil de 271 camas ubicada junto a la Universidad de Baylor en Waco, Texas. El préstamo cuenta con un plazo inicial de tres años y dos opciones de extensión de un año, sujeto a los requisitos del prestatario.
La transacción, presentada por JLL al gerente de SEVN Tremont Realty Capital, se completó en poco más de 30 días desde la solicitud de Shore to Shore Properties, Inc., un patrocinador recurrente con sede en Sausalito. La empresa mantiene su enfoque en oportunidades de inversión aseguradas para crecer y diversificar su cartera, con una capacidad de endeudamiento actual amplia y un pipeline de inversiones activo.
세븐 힐스 리얼티 트러스트 (Nasdaq: SEVN)는 1,850만 달러 규모의 변동 금리 브릿지 대출을 통해 텍사스 Waco에 위치한 Baylor University 인근의 271실 학생 주택인 LL Sams를 재융자했습니다. 이 대출은 3년의 초기 기간과 차입자 요구 사항에 따라 두 개의 1년 연장 옵션을 제공합니다.
JLL이 SEVN의 매니저인 Tremont Realty Capital에 소개한 이 거래는 Shore to Shore Properties, Inc.의 신청서로부터 30일이 채 안 되어 완료되었습니다. 이 회사는 현재의 넉넉한 차입 능력과 활발한 투자 파이프라인을 바탕으로 포트폴리오를 성장시키고 다양화하기 위해 담보가 있는 투자 기회에 집중하고 있습니다.
Seven Hills Realty Trust (Nasdaq: SEVN) a conclu un prêt relais à taux variable de 18,5 millions de dollars pour refinancer LL Sams, une propriété de logement étudiant de 271 lits située à proximité de l'Université Baylor à Waco, au Texas. Le prêt présente une durée initiale de trois ans avec deux options de prolongation d'un an, sous réserve des exigences de l'emprunteur.
La transaction, introduite par JLL au gestionnaire de SEVN Tremont Realty Capital, a été finalisée en un peu plus de 30 jours après la demande de Shore to Shore Properties, Inc., un sponsor récurrent basé à Sausalito. L'entreprise maintient son attention sur les opportunités d'investissement sécurisées pour croître et diversifier son portefeuille, avec une capacité d'emprunt actuelle suffisante et un pipeline d'investissement actif.
Seven Hills Realty Trust (Nasdaq: SEVN) hat ein Brücken-Darlehen mit variablem Zinssatz in Höhe von 18,5 Millionen Dollar abgeschlossen, um LL Sams, eine 271-Betten-Studentenwohnanlage in der Nähe der Baylor University in Waco, Texas, zu refinanzieren. Das Darlehen hat eine anfängliche Laufzeit von drei Jahren mit zwei einjährigen Verlängerungsoptionen, die von den Anforderungen des Kreditnehmers abhängen.
Die Transaktion, die von JLL an den SEVN-Manager Tremont Realty Capital eingeführt wurde, wurde in etwas mehr als 30 Tagen nach der Antragstellung von Shore to Shore Properties, Inc., einem wiederkehrenden Sponsor mit Sitz in Sausalito, abgeschlossen. Das Unternehmen konzentriert sich weiterhin auf gesicherte Investitionsmöglichkeiten, um sein Portfolio zu vergrößern und zu diversifizieren, mit einer derzeit umfangreichen Kreditaufnahme und einer aktiven Investitionspipeline.
- Rapid loan processing time of just over 30 days
- Transaction with repeat sponsor indicates strong business relationships
- Company reports ample borrowing capacity for future investments
- Active investment pipeline suggests continued growth potential
- None.
The loan has a three-year initial term with two one-year extension options, subject to the borrower meeting certain requirements. SEVN’s manager, Tremont Realty Capital, was introduced to the transaction by JLL, which advised Shore to Shore Properties, Inc., the
Tom Lorenzini, President and Chief Investment Officer of SEVN, made the following statement:
“We remain focused on taking advantage of well-secured investment opportunities that further grow and diversify our portfolio. The LL Sams loan was closed just over 30 days from application and was made to a repeat sponsor. With ample borrowing capacity and an active investment pipeline, we look forward to continuing to execute on accretive lending opportunities that align with our strategy.”
About Seven Hills Realty Trust
Seven Hills Realty Trust (Nasdaq: SEVN) is a real estate investment trust, or REIT, that originates and invests in first mortgage loans secured by middle market transitional commercial real estate. SEVN is managed by Tremont Realty Capital, an affiliate of The RMR Group (Nasdaq: RMR), a leading
WARNING CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These statements may include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “will,” “may” and negatives or derivatives of these or similar expressions. These forward-looking statements include, among others, statements about the performance of student housing properties and LL Sams, as well as SEVN’s investment focus, pipeline, ability to complete additional loan investments in the future that grow and diversify SEVN’s portfolio and ability to generate attractive risk adjusted returns for shareholders. Forward-looking statements reflect SEVN’s current expectations, are based on judgments and assumptions, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause SEVN’s actual results, performance or achievements to differ materially from expected future results, performance or achievements expressed or implied in those forward-looking statements. Some of the risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, the following: the ability of SEVN to make additional investments; the success of SEVN’s investments; SEVN’s available liquidity, access to capital and cost of capital; and various other matters. These risks, uncertainties and other factors are not exhaustive and should be read in conjunction with other cautionary statements that are included in SEVN’s periodic filings with the Securities and Exchange Commission, or SEC. The information contained in SEVN’s filings with the SEC, including under the caption “Risk Factors” in its periodic reports, or incorporated therein, identifies important factors that could cause SEVN’s actual results to differ materially from those stated in or implied by SEVN’s forward-looking statements. SEVN’s filings with the SEC are available on the SEC’s website at www.sec.gov. You should not place undue reliance upon forward-looking statements. Except as required by law, SEVN does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
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Matt
(617) 796-8253
www.sevnreit.com
Source: Seven Hills Realty Trust
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