Seven Hills Realty Trust Deploys $101.3 Million Across Three New Loan Investments
Seven Hills Realty Trust (NASDAQ:SEVN) today announced investments in three new first mortgage loans totaling $101.3 million. The loans include:
- A recently originated $37.3 million first mortgage loan secured by Mazza Grandmarc, a 628-bed (232-unit) student housing property in College Park, MD. The property primarily serves students at the University of Maryland and benefits from strong enrollment-driven demand in the College Park market. The loan has an initial term extending through November 2028 and two 12-month extension options.
- The acquisition of a $37.0 million first mortgage loan secured by SpringHill Suites, a 168-room, Marriott-branded hotel built in 2022 in Revere, MA. The property offers ocean views, modern amenities, close proximity to Boston Logan Airport, and strong year-round demand drivers. The loan has an initial term extending through July 2026 and three 12-month extension options.
- The acquisition of a $27.0 million first mortgage loan secured by a 138,000 SF industrial property in Wayne, PA. The property features modernized infrastructure and significant recent capital upgrades, and it is partially leased to a global life science tenant that has committed substantial investment under a long-term lease. The loan has an initial term extending through July 2027 and two 12-month extension options.
Tom Lorenzini, President and Chief Investment Officer of SEVN, made the following statement:
"These three loans are consistent with our focus on disciplined, credit-oriented investments supported by strong real estate fundamentals. The assets include a student housing property serving a large university market, a recently built oceanfront hotel with diversified demand drivers, and a modern GMP-capable industrial property backed by meaningful tenant investment. Each property serves a distinct demand base within established operating markets, adding differentiated exposure to our portfolio in markets where we continue to see attractive opportunities. The loan structures reflect what we believe to be strong alignment with the sponsors' business plans, and these investments demonstrate our ability to deploy capital into compelling opportunities that meet our underwriting objectives."
About Seven Hills Realty Trust
Seven Hills Realty Trust (NASDAQ:SEVN) is a real estate investment trust 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 U.S. alternative asset management company with approximately $39 billion in assets under management and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. For more information about SEVN, please visit www.sevnreit.com.
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 certain properties and market opportunities, as well as SEVN's investment focus and ability to deploy capital. 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 Murphy, Manager, Investor Relations
(617) 796-8253
www.sevnreit.com