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Seven Hills Realty Trust Closes $23.5 Million Bridge Loan to Refinance an Office Building in Downers Grove, ILSeven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $23.5 million first mortgage floating-rate bridge loan to refinance Woodland Corporate Tower, a 185,000 square foot, multi-tenant office property located at 1333 Butterfield Road in Downers Grove, Illinois. The loan is structured with a three-year initial term and two one-year extension options, subject to the borrower meeting certain requirements. SEVN's manager, Tremont Realty Capital, was introduced to the transaction by CBRE, which advised the sponsor, Stanton Road Capital. Tom Lorenzini, President of SEVN, made the following statement: "The closing of this loan highlights the ongoing growth and momentum of Seven Hills Realty Trust's investment portfolio. This first mortgage loan is secured by a well-leased, multi-tenant office building with convenient Interstate highway access to both downtown Chicago and O'Hare International Airport. It is our second transaction with the sponsor in the past 12 months, which demonstrates the value of our existing relationships. We see a clear path to further increasing our loan origination volume while pursuing our investment objective of balancing capital preservation with generating attractive, risk adjusted returns." Seven Hills Realty Trust (Nasdaq: SEVN) is a real estate finance company 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 Inc. (Nasdaq: RMR), a leading U.S. alternative asset management company with over $32 billion in assets under management and 35 years of institutional experience in buying, selling, financing and operating commercial real estate. For more information about SEVN, please visit www.sevnreit.com. Tremont Realty Capital is a direct lender that originates and invests in loans secured by middle market and transitional commercial real estate. For more information about Tremont Realty Capital please visit www.tremontcapital.com. WARNING CONCERNING FORWARD-LOOKING STATEMENTS 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. Also, whenever SEVN uses words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "will," "may" and negatives or derivatives of these or similar expressions, SEVN is making forward-looking statements. These forward-looking statements are based upon SEVN's present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by SEVN's forward-looking statements as a result of various factors. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond SEVN's control. For example:
The information contained in SEVN's filings with the Securities and Exchange Commission, or SEC, including under "Risk Factors" in SEVN's periodic reports or incorporated therein, identifies other important factors that could cause SEVN's actual results to differ materially from those stated in or implied by SEVN's forward-looking statements. SEVN's filings with the SEC are available on the SEC's 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.
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