Seven Hills Realty Trust Closes $42.0 Million Bridge Loan to Refinance a Student Housing Property Near the University of Mississippi
Seven Hills Realty Trust (Nasdaq: SEVN) has closed a $42.0 million first mortgage floating rate bridge loan to refinance The Domain at Oxford, a 642-bed student housing property near the University of Mississippi. The loan has a three-year initial term with two one-year extension options, contingent on the borrower meeting specific requirements. SEVN’s manager, Tremont Realty Capital, was introduced to the transaction by Newmark, which advised the sponsor, Shore to Shore Properties. Tom Lorenzini, President and Chief Investment Officer of SEVN, highlighted the growing demand for quality student housing due to rising enrollment at the university, emphasizing the loan's potential to generate attractive risk-adjusted returns for shareholders.
Seven Hills Realty Trust (Nasdaq: SEVN) ha concluso un prestito ponte con tasso variabile di 42,0 milioni di dollari per rifinanziare The Domain at Oxford, una struttura abitativa per studenti con 642 posti letto nei pressi dell'Università del Mississippi. Il prestito ha un termine iniziale di tre anni con due opzioni di estensione annuali, soggette al soddisfacimento di specifici requisiti da parte dell'emittente. Il gestore di SEVN, Tremont Realty Capital, è stato presentato alla transazione da Newmark, che ha consigliato lo sponsor, Shore to Shore Properties. Tom Lorenzini, Presidente e Chief Investment Officer di SEVN, ha sottolineato la crescente domanda di alloggi di qualità per studenti a causa dell'aumento delle iscrizioni all'università, evidenziando il potenziale del prestito di generare rendimenti interessante corretti per il rischio per gli azionisti.
Seven Hills Realty Trust (Nasdaq: SEVN) ha cerrado un préstamo puente a tipo de interés variable de 42,0 millones de dólares para refinanciar The Domain at Oxford, una propiedad de alojamiento estudiantil de 642 camas cerca de la Universidad de Mississippi. El préstamo tiene un plazo inicial de tres años con dos opciones de extensión anual, condicionadas al cumplimiento de requisitos específicos por parte del prestatario. El gerente de SEVN, Tremont Realty Capital, fue presentado a la transacción por Newmark, quien asesoró al patrocinador, Shore to Shore Properties. Tom Lorenzini, Presidente y Director de Inversiones de SEVN, destacó la creciente demanda de alojamiento estudiantil de calidad debido al aumento de inscripciones en la universidad, enfatizando el potencial del préstamo para generar rendimientos atractivos ajustados al riesgo para los accionistas.
세븐 힐스 리얼티 트러스트 (Nasdaq: SEVN)는 4,200만 달러 규모의 유동금리 첫 번째 모기지 브릿지 론을 종료하여 The Domain at Oxford를 재융자했습니다. 이 학생 주택은 642개 침대를 보유하고 있으며 미시시피 대학교 근처에 위치해 있습니다. 이 대출은 3년의 초기 기간을 가지고 있으며, 차입자가 특정 요건을 충족할 경우 1년의 연장 옵션을 두 차례 가질 수 있습니다. SEVN의 관리자 Tremont Realty Capital은 Newmark를 통해 이 거래에 소개되었으며, Newmark는 스폰서인 Shore to Shore Properties에 조언했습니다. SEVN의 사장 겸 최고 투자 책임자인 Tom Lorenzini는 대학의 신입생 증가로 인해 양질의 학생 주택에 대한 수요가 증가하고 있다고 강조하며, 대출이 주주들에게 매력적인 위험 조정 수익을 창출할 수 있는 잠재력을 강조했습니다.
Seven Hills Realty Trust (Nasdaq: SEVN) a conclu un prêt relais à taux variable de 42,0 millions de dollars pour refinancer The Domain at Oxford, une propriété de logement étudiant de 642 lits située près de l'Université du Mississippi. Le prêt a une durée initiale de trois ans avec deux options de prolongation d'un an, conditionnées à ce que l'emprunteur réponde à des exigences spécifiques. Le gestionnaire de SEVN, Tremont Realty Capital, a été présenté à la transaction par Newmark, qui a conseillé le sponsor, Shore to Shore Properties. Tom Lorenzini, Président et Directeur des Investissements de SEVN, a souligné la demande croissante de logements étudiants de qualité en raison de l'augmentation des inscriptions à l'université, en mettant l'accent sur le potentiel de ce prêt à générer des rendements intéressants ajustés au risque pour les actionnaires.
Seven Hills Realty Trust (Nasdaq: SEVN) hat ein 42,0 Millionen Dollar schweres Brücken-Darlehen mit variabler Verzinsung abgeschlossen, um The Domain at Oxford, eine 642-Betten Studentenunterkunft in der Nähe der University of Mississippi, zu refinanzieren. Das Darlehen hat eine drei Jahre laufende Anfangsfrist mit zwei einjährigen Verlängerungsoptionen, die vom Erfüllen bestimmter Anforderungen durch den Kreditnehmer abhängen. Der Manager von SEVN, Tremont Realty Capital, wurde von Newmark in die Transaktion eingeführt, das den Sponsor, Shore to Shore Properties, beraten hat. Tom Lorenzini, Präsident und Chief Investment Officer von SEVN, hob die wachsende Nachfrage nach qualitativ hochwertigem Studentenwohnraum aufgrund steigender Einschreibungen an der Universität hervor und betonte das Potenzial des Darlehens, attraktive risikoadjustierte Renditen für die Aktionäre zu generieren.
- Closed a $42.0 million first mortgage floating rate bridge loan.
- Three-year initial term with two one-year extension options.
- The Domain at Oxford benefits from rising enrollment at the University of Mississippi.
- Loan expected to generate attractive risk-adjusted returns for shareholders.
- None.
Insights
This
The loan structure, featuring a three-year term with two one-year extension options, provides flexibility while maintaining security through borrower performance requirements. For Seven Hills Realty Trust, this transaction strengthens their portfolio in the resilient student housing sector, which typically shows stability even during economic downturns. The floating rate structure also allows SEVN to benefit from the current high-interest rate environment while maintaining protection against future rate changes.
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 Newmark, which advised Shore to Shore Properties, Inc., the
Tom Lorenzini, President and Chief Investment Officer of SEVN, made the following statement:
“The Domain at
About Seven Hills Realty Trust
Seven Hills Realty Trust (Nasdaq: SEVN) is a real estate finance company focused on originating and investing 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 The Domain, as well as SEVN’s investment focus, ability to complete additional loan investments in the future 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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Timothy Bonang, Senior Vice President
(617) 231-3223
www.sevnreit.com
Source: Seven Hills Realty Trust
FAQ
What is the value of the bridge loan closed by Seven Hills Realty Trust?
What property is being refinanced by the $42.0 million loan from SEVN?
What is the initial term of the bridge loan closed by SEVN?
Who introduced Tremont Realty Capital to the transaction for the $42.0 million loan?
What is the expected benefit of The Domain at Oxford from the SEVN loan?
