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Boston & New England  + Boston  + Finance  |  July 8, 2024
Emily Fu
By: Emily Fu

Tremont Realty Capital Closes $40M Loan to Refi Revere Hotel 

Tremont Realty Capital announced a $40 million first mortgage loan closing to refinance the SpringHill Suites by Marriott Boston Logan Airport Revere Beach hotel. Located at 400 Ocean Avenue in Revere, MA, the recently developed 168-room hotel is near the MBTA Wonderland Station. 

The loan has a two-year initial term with three one-year extension options, contingent on borrower requirements. The transaction was introduced by HREC Investment Advisors, with funding from The RMR Group.  

“The closing of the SpringHill Suites Revere demonstrates Tremont’s ability to meet borrowers’ financing needs in today’s challenging environment. Our investment pipeline remains strong, and we continue to see attractive opportunities to originate new loans and expand our portfolio throughout 2024,” said Tom Lorenzini, senior vice president of Tremont Realty Capital. 

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Inside The Story

Tom Lorenzini

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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