NEWTON, Mass.--(BUSINESS WIRE)--Tremont Mortgage Trust (Nasdaq: TRMT) today announced the closing of a $22.9 million first mortgage bridge loan it provided to refinance Woodside Village, a high end retail center located in Coppell, Texas containing approximately 96,000 square feet.
This floating rate loan includes initial funding of $20 million and a future funding allowance of $2.9 million for property improvements and leasing capital. The loan is structured with a two-year term.
Tremont Mortgage Trust (Nasdaq: TRMT) is a real estate finance company that focuses primarily on originating and investing in first mortgage loans secured by middle market and transitional commercial real estate. Tremont Mortgage Trust is managed by Tremont Realty Advisors LLC, an SEC registered investment adviser and an indirect subsidiary of The RMR Group Inc.
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.