Business
RMR Mortgage Trust Announces the Completion of Its Merger with Tremont Mortgage Trust
The Combined Company Will Be Renamed Seven Hills Realty Trust and will Begin Trading on the Nasdaq under the Ticker Symbol “SEVN” on October 1st NEWTON,
About this update from Seven Hills Realty Trust
[{"type":"text","content":"\nThe Combined Company Will Be Renamed Seven Hills Realty Trust and will Begin Trading on the Nasdaq under the Ticker Symbol “SEVN” on October 1st\n\n NEWTON, Mass.--(BUSINESS WIRE)--\nRMR Mortgage Trust (Nasdaq: RMRM) today announced that it has completed its merger with Tremont Mortgage Trust (Nasdaq: TRMT).\n\nIn connection with the merger, the combined company changed its name to “Seven Hills Realty Trust.” The company will begin trading on the Nasdaq under the ticker symbol “SEVN” on October 1, 2021. For more information about SEVN, please visit www.SEVNreit.com. Concurrent with the merger, SEVN’s manager, Tremont Realty Advisors LLC, has changed its name to “Tremont Realty Capital.”\n\nTom Lorenzini, President of SEVN, made the following statement:\n\n“We are excited to have completed this merger resulting in SEVN becoming a larger, more diversified mortgage REIT with an expanded capital base, increased operating efficiency and improved access to capital markets. We look forward to expanding SEVN’s investment portfolio to nearly $1 billion when fully invested and generating attractive, risk adjusted returns for our shareholders as we continue our focus on middle market commercial mortgage lending.”\n\nSeven Hills Realty Trust (Nasdaq: SEVN), formerly known as RMR Mortgage Trust (Nasdaq: RMRM), 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 an affiliate of The RMR Group Inc. (Nasdaq: RMR). Substantially all of RMR’s business is conducted by its majority owned subsidiary, The RMR Group LLC, which is an alternative asset management company with $32 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.\n\nWARNING CONCERNING FORWARD-LOOKING STATEMENTS\n\nThis 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 we use words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “will,” “may” and negatives or derivatives of these or similar expressions, we are making forward-looking statemen...