Seven Hills Realty Trust Closes $45.0 Million Bridge Loan to Finance the Acquisition of a Hotel in Boston, Massachusetts
Seven Hills Realty Trust (SEVN) has announced the closing of a $45.0 million first mortgage floating rate bridge loan to finance the acquisition of Club Quarters Hotel in Boston, Massachusetts. The 178-room hotel is located at 161 Devonshire Street, near major attractions including the Massachusetts State House, Faneuil Hall, and Boston Common.
The loan features a three-year initial term with two one-year extension options, subject to borrower requirements. The transaction was facilitated by JLL, who advised the borrower, Arch & Devonshire The deal showcases SEVN's commitment to identifying and executing strategic loan investment opportunities to generate attractive risk-adjusted returns for shareholders.
Seven Hills Realty Trust (SEVN) ha annunciato la chiusura di un prestito ponte a tasso variabile di 45,0 milioni di dollari per finanziare l'acquisizione del Club Quarters Hotel a Boston, Massachusetts. L'hotel, composto da 178 camere, si trova al 161 di Devonshire Street, vicino a importanti attrazioni come il Massachusetts State House, Faneuil Hall e Boston Common.
Il prestito prevede un termine iniziale di tre anni con due opzioni di estensione annuale, soggette ai requisiti dell'emittente. La transazione è stata facilitata da JLL, che ha consigliato l'emittente, Arch & Devonshire. L'affare dimostra l'impegno di SEVN nell'identificare ed eseguire opportunità di investimento strategico nel settore dei prestiti per generare rendimenti interessanti e adeguati ai rischi per gli azionisti.
Seven Hills Realty Trust (SEVN) ha anunciado el cierre de un préstamo puente hipotecario a tasa flotante de 45.0 millones de dólares para financiar la adquisición del Club Quarters Hotel en Boston, Massachusetts. El hotel de 178 habitaciones está ubicado en 161 Devonshire Street, cerca de atracciones importantes como la Casa de Estado de Massachusetts, Faneuil Hall y Boston Common.
El préstamo cuenta con un plazo inicial de tres años con dos opciones de extensión de un año, sujeto a los requisitos del prestatario. La transacción fue facilitada por JLL, que asesoró al prestatario, Arch & Devonshire. Este acuerdo demuestra el compromiso de SEVN en identificar y ejecutar oportunidades estratégicas de inversión en préstamos para generar rendimientos ajustados al riesgo atractivos para los accionistas.
세븐 힐스 리얼티 신탁 (SEVN)는 4천5백만 달러 규모의 변동 금리 첫 번째 담보 대출을 종료하고 매사추세츠주 보스턴의 클럽 쿼터스 호텔 인수를 위해 자금을 조달했다고 발표했습니다. 178개의 객실을 보유한 이 호텔은 매사추세츠주 주의사당, 파뉴일 홀, 보스턴 커먼 등 주요 관광 명소 근처인 161 데본셔 스트리트에 위치하고 있습니다.
이 대출은 3년의 초기 기간과 차입자의 요구 사항에 따라 두 개의 1년 연장 옵션이 특징입니다. 이 거래는 차입자 Arch & Devonshire를 자문한 JLL의 도움으로 이루어졌습니다. 이번 거래는 SEVN이 주주에게 매력적인 위험 조정 수익을 창출하기 위하여 전략적 대출 투자 기회를 식별하고 실행하는 것에 대한 의지를 보여줍니다.
Seven Hills Realty Trust (SEVN) a annoncé la clôture d'un prêt pont à taux variable de 45,0 millions de dollars pour financer l'acquisition de l'hôtel Club Quarters à Boston, Massachusetts. L'hôtel de 178 chambres est situé au 161 Devonshire Street, près d'attractions majeures telles que la Massachusetts State House, le Faneuil Hall et le Boston Common.
Le prêt comprend un terme initial de trois ans avec deux options de prolongation d'un an, sous réserve des exigences de l'emprunteur. La transaction a été facilitée par JLL, qui a conseillé l'emprunteur, Arch & Devonshire. Cette opération met en avant l'engagement de SEVN à identifier et à mettre en œuvre des opportunités d'investissement stratégique dans les prêts afin de générer des rendements ajustés au risque attrayants pour les actionnaires.
Seven Hills Realty Trust (SEVN) hat den Abschluss eines 45,0 Millionen Dollar großen ersten Hypothekendarlehens mit variablem Zinssatz zur Finanzierung des Erwerbs des Club Quarters Hotel in Boston, Massachusetts, bekannt gegeben. Das 178-Zimmer-Hotel befindet sich in der Devonshire Street 161, nahe wichtigen Sehenswürdigkeiten wie dem Massachusetts State House, Faneuil Hall und dem Boston Common.
Das Darlehen hat eine dreijährige Anfangslaufzeit mit zwei einjährigen Verlängerungsoptionen, die von den Anforderungen des Darlehensnehmers abhängen. Die Transaktion wurde von JLL vermittelt, die den Darlehensnehmer Arch & Devonshire beraten hat. Der Deal zeigt SEVNs Engagement, strategische Investitionsmöglichkeiten im Bereich Darlehen zu identifizieren und umzusetzen, um attraktive risikoadjustierte Renditen für die Aktionäre zu erzielen.
- Secured $45.0 million loan agreement in prime Boston location
- Flexible loan structure with 3-year term and two 1-year extension options
- Strategic property location near major Boston attractions and business districts
- None.
Insights
This
The transaction aligns with SEVN's strategy of targeting high-quality commercial real estate opportunities in prime locations. With a market cap of
The acquisition financing for Club Quarters Hotel is strategically significant given Boston's robust hospitality market fundamentals. The property's location at 161 Devonshire Street places it in the heart of Boston's financial district, with proximity to major tourist attractions that drive consistent demand. The 178-room hotel size is well-positioned for both business and leisure travelers, particularly given the recent recovery in urban hotel performance.
Boston's hotel market has shown resilience post-pandemic, with strong occupancy rates and RevPAR growth. The market benefits from diverse demand drivers including education, healthcare, technology sectors and tourism. The involvement of JLL as advisor suggests thorough market validation and competitive loan terms, while the floating rate structure provides a hedge against inflation in a rising rate environment.
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 Arch & Devonshire LLC, the borrower.
Tom Lorenzini, President and Chief Investment Officer of SEVN, made the following statement:
“The Club Quarters Hotel benefits from being near the Massachusetts State House, Faneuil Hall, Boston Common, the Boston Theatre District and many significant historical sites. The closing of the loan to finance the acquisition of this hotel demonstrates our ability to identify and execute compelling loan investment opportunities. Furthermore, we continue to be active in the market and maintain a strong pipeline of quality loan opportunities to generate attractive risk adjusted returns for our shareholders.”
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
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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
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