Seven Hills Realty Trust Closes $27.5 Million Bridge Loan to Finance the Acquisition of an Industrial Property in South Carolina

NEWTON, Mass.--(BUSINESS WIRE)--Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $27.5 million first mortgage floating rate bridge loan to finance the acquisition of Woodfield Commerce Center, a 320,000 square foot industrial warehouse building located at 200 International Boulevard in Fountain Inn, South Carolina.

An initial advance of $24.3 million was funded at closing with future advances of up to $3.2 million available for capital expenditures. The loan is structured with a two-year initial term with a one-year extension option, subject to the borrower meeting certain requirements. SEVN’s manager, Tremont Realty Capital, was introduced to the transaction by Medalist Capital, which advised the sponsor Lightstone Group, a repeat borrower of SEVN.

Tom Lorenzini, President and Chief Investment Officer of SEVN, made the following statement:

“The closing of this $27.5 million loan reflects the continued diversification of SEVN’s investment portfolio and exemplifies our focus on lending on high quality real estate supported by well capitalized sponsors. The Woodfield Commerce Center loan was made to a repeat sponsor of ours for the acquisition of a newly constructed, to be leased, Class A warehouse distribution facility located in a strong manufacturing hub and industrial market in Greater Greenville. We remain well positioned to continue leveraging our industry relationships to further expand SEVN’s portfolio and generate attractive, risk adjusted returns for our shareholders.”

About Seven Hills Realty Trust

Seven Hills Realty Trust (Nasdaq: SEVN) is a real estate investment trust, or REIT, that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate. SEVN is managed by Tremont Realty Capital, an affiliate of The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $37 billion in assets under management as of March 31, 2023, and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. For more information about SEVN, please visit www.sevnreit.com.

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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.