Washington DC CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Tremont Realty Capital Closes $37M Loan for Maryland Student Housing Property
Tremont Realty Capital, the commercial real estate finance division of The RMR Group, has provided a $37 million loan for a student housing property in Maryland.
The recently originated $37.3 million first mortgage loan secured by Mazza Grandmarc, a 628-bed, 232-unit, student housing property in College Park. 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 deal was part of three new first mortgage loans totaling $101.3 million in transactions closed by Seven Hills Realty Trust.