RMR Mortgage Trust Secures $17M in Financing to Acquire Atlanta Retail Center

RMR Mortgage Trust has closed a $16.5-million first mortgage floating-rate bridge loan to finance the acquisition of City Center Crossing, a grocery anchored retail center located in the Sandy Springs submarket of Atlanta. 

An initial advance of $14.8 million was funded at closing with future advances of approximately $1.7 million available for tenant improvements and leasing commissions. The loan is structured with a three-year initial term and two one-year extension options, subject to the borrower meeting certain requirements. RMRM’s manager, Tremont Realty Capital, was introduced to the transaction by the sponsor, First National Realty Partners. 

“The closing of this City Center Crossing loan further diversifies RMRM’s investment portfolio and continues its growth,” said Tom Lorenzini, president of RMRM. “This loan is secured by a Lidl anchored grocery center located in a rapidly growing submarket in Atlanta. This is our eighth loan closing this year and increases our investment portfolio to more than $325 million of committed capital. We are well positioned for continued portfolio growth with a healthy pipeline of attractive investment opportunities.”