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Seven Hills Realty Trust Closes $24.4 Million Bridge Loan to Finance the Acquisition of an Industrial Property in Fontana, CaliforniaSeven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $24.4 million first mortgage floating-rate bridge loan to finance the acquisition of an 83,000 square foot industrial warehouse property located at 10516 Commerce Way in Fontana, California. An initial advance of $22.0 million was funded at closing with future advances of up to approximately $2.4 million available for capital expenditures, tenant improvements and leasing commissions. The loan is structured with a two-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 JLL Capital Markets, which advised the sponsor, Thor Equities. Tom Lorenzini, President of SEVN, made the following statement: "SEVN remains active and continues to identify strong investments for our portfolio that present attractive risk adjusted returns in today's lending environment. The Commerce Way loan was made to a repeat sponsor of ours for the acquisition of an industial facility located in a prime submarket of the Inland Empire. This closing further demonstrates the strength of our platform and our ability to leverage our deep network of industry relationships to originate loans secured by high quality assets." About Seven Hills Realty Trust 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 (Nasdaq: RMR), a leading U.S. alternative asset management company with over $37 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 www.sevnreit.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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