Seven Hills Realty Trust Closes $53M of New First Mortgage Bridge Loans
Newton, MA-based Seven Hills Realty Trust has closed two first mortgage bridge loans in an aggregate principal amount of $53.3 million with aggregate initial advances of $49.2 million.
SEVN closed a $37.3 million first mortgage floating-rate bridge loan to finance the acquisition of Aspen Heights, a 958-bed student housing property located in Starkville, MS near Mississippi State University. The loan is structured with a three-year initial term and two one-year extension options. SEVN’s manager, Tremont Realty Capital, was introduced by Jones Lang LaSalle Incorporated, which advised the sponsor, Centurion Property Group.
SEVN closed a $16.0 million first mortgage floating-rate bridge loan to refinance Bed Bath & Beyond Plaza, an 86,000 square foot shopping center located in Delray Beach, FL. The loan is structured with a two-year initial term and two one-year extension options. Tremont Realty Capital was introduced by Concord Summit Capital, which advised the sponsor, Berta Management of Florida.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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