{"id":4761,"date":"2023-10-13T13:30:16","date_gmt":"2023-10-13T13:30:16","guid":{"rendered":"https:\/\/listselfstorage.com\/us\/industry-insights\/?p=4761"},"modified":"2023-10-13T13:30:16","modified_gmt":"2023-10-13T13:30:16","slug":"seven-hills-realty-trust-closes-25-3-million-bridge-loan-to-refinance-two-self-storage-facilities-in-atlanta-and-fayetteville-ga","status":"publish","type":"post","link":"https:\/\/listselfstorage.com\/us\/industry-insights\/seven-hills-realty-trust-closes-25-3-million-bridge-loan-to-refinance-two-self-storage-facilities-in-atlanta-and-fayetteville-ga\/","title":{"rendered":"Seven Hills Realty Trust Closes $25.3 Million Bridge Loan to Refinance Two Self-Storage Facilities in Atlanta and Fayetteville, GA"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<img loading=\"lazy\" class=\"aligncenter\" src=\"https:\/\/mms.businesswire.com\/media\/20231011390455\/en\/1268790\/23\/Seven_Hills_Realty_Trust.jpg\" alt=\"Seven Hills Realty Trust Closes $25.3 Million Bridge Loan to Refinance Two  Self-Storage Facilities in Georgia | Business Wire\" width=\"551\" height=\"288\" \/><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $25.3 million first mortgage floating rate bridge loan to refinance two Life Storage branded self-storage facilities located at 3900 Cascade Road in Atlanta, Georgia and 815 W. Lanier Avenue in Fayetteville, Georgia. The loan has a three-year initial term with two one-year extension options, subject to the borrower meeting certain requirements. SEVN\u2019s manager, Tremont Realty Capital, was introduced to the transaction by Talonvest Capital, which advised the joint venture sponsorship of Castle Hill Investors and Olympus Ventures LLC.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Tom Lorenzini, President and Chief Investment Officer of SEVN, made the following statement:<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\">\u201c<span style=\"font-size: medium;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">We remain active in the current lending environment as evidenced by our recent loan closings. This $25.3 million first mortgage loan is secured by two well-leased Class A self-storage properties in vibrant metro Atlanta submarkets. With ample liquidity available for investment, we continue to focus on lending opportunities to well-capitalized institutional sponsors that present attractive risk-adjusted returns for our shareholders.\u201d<\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><b><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">About Seven Hills Realty Trust<\/span><\/span><\/b><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><a href=\"https:\/\/sevnreit.com\/home\/default.aspx\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"text-decoration: underline;\"><strong>Seven Hills Realty Trust (Nasdaq: SEVN)<\/strong><\/span><\/a> 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 <a href=\"https:\/\/www.tremontcapital.com\/Home\/default.aspx\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"text-decoration: underline;\"><strong>Tremont Realty Capital<\/strong><\/span><\/a>, an affiliate of <span style=\"text-decoration: underline;\"><strong><a href=\"https:\/\/www.rmrgroup.com\/Home\/\" target=\"_blank\" rel=\"noopener noreferrer\">The RMR Group (Nasdaq: RMR)<\/a><\/strong><\/span>, a leading U.S. alternative asset management company with approximately $36 billion in assets under management and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. For more information about SEVN, please visit <span style=\"text-decoration: underline;\"><strong><a href=\"https:\/\/sevnreit.com\/home\/default.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">www.sevnreit.com<\/a><\/strong><\/span><\/span><\/span><\/span><\/p>\n<p><em><strong><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Warning Concerning Forward-Looking Statements:<\/span><\/span><\/span><\/strong><\/em><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These statements may include words such as \u201cbelieve,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cestimate,\u201d \u201cwill,\u201d \u201cmay\u201d and negatives or derivatives of these or similar expressions. These forward-looking statements include, among others, statements about SEVN\u2019s investment focus and ability to complete additional loan investments in the future. Forward-looking statements reflect SEVN\u2019s current expectations, are based on judgments and assumptions, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause SEVN\u2019s actual results, performance or achievements to differ materially from expected future results, performance or achievements expressed or implied in those forward-looking statements. Some of the risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, the following: the ability of SEVN to make additional investments; the success of SEVN\u2019s investments; SEVN\u2019s available liquidity, access to capital and cost of capital; and various other matters. These risks, uncertainties and other factors are not exhaustive and should be read in conjunction with other cautionary statements that are included in SEVN\u2019s periodic filings with the Securities and Exchange Commission, or SEC. The information contained in SEVN\u2019s filings with the SEC, including under the caption \u201cRisk Factors\u201d in its periodic reports, or incorporated therein, identifies important factors that could cause SEVN\u2019s actual results to differ materially from those stated in or implied by SEVN\u2019s forward-looking statements. SEVN\u2019s filings with the SEC are available on the SEC\u2019s website at www.sec.gov. You should not place undue reliance upon forward-looking statements. Except as required by law, SEVN does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><u>Contact<\/u><\/span><\/span><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">:<\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">Kevin Barry, Director, Investor Relations<br \/>\n<\/span><\/span><\/span><span style=\"font-size: medium;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">(617) 332-9530<br \/>\n<\/span><\/span><\/span><span style=\"font-size: medium;\"><a href=\"http:\/\/www.sevnreit.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"text-decoration: underline;\"><strong>www.sevnreit.com<\/strong><\/span><\/span><\/span><\/a><\/span><\/p>\n<p><a href=\"https:\/\/www.businesswire.com\/news\/home\/20231011390455\/en\/Seven-Hills-Realty-Trust-Closes-25.3-Million-Bridge-Loan-to-Refinance-Two-Self-Storage-Facilities-in-Georgia\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"text-decoration: underline;\"><span style=\"font-size: medium;\"><span style=\"color: #222222; text-decoration: underline;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">S<\/span><\/span><span style=\"color: #222222; text-decoration: underline;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\">ource<\/span><\/span><\/span><\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $25.3 million first mortgage floating rate bridge loan to refinance two Life Storage branded self-storage facilities located at 3900 Cascade Road in Atlanta, Georgia and 815 W. Lanier Avenue in Fayetteville, Georgia. The loan has a three-year initial term with two one-year extension options, subject to the borrower meeting certain requirements. SEVN\u2019s manager, Tremont Realty Capital, was introduced to the transaction by Talonvest Capital, which advised the joint venture sponsorship of Castle Hill Investors and Olympus Ventures LLC.&hellip;<\/p>\n","protected":false},"author":13,"featured_media":4763,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/4761"}],"collection":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/comments?post=4761"}],"version-history":[{"count":1,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/4761\/revisions"}],"predecessor-version":[{"id":4764,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/4761\/revisions\/4764"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media\/4763"}],"wp:attachment":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media?parent=4761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/categories?post=4761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/tags?post=4761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}