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RMR Mortgage Trust Provides $19 Million First Mortgage Bridge Loan for the Refinancing of a Lab Campus in Berkeley, CA
NEWTON, Mass.--(BUSINESS WIRE)-- RMR Mortgage Trust (Nasdaq: RMRM) today announced the closing of a $19.1 million first mortgage bridge loan it provided to
About this update from Seven Hills Realty Trust
[{"type":"text","content":" NEWTON, Mass.--(BUSINESS WIRE)--\nRMR Mortgage Trust (Nasdaq: RMRM) today announced the closing of a $19.1 million first mortgage bridge loan it provided to refinance a three building lab campus containing 47,000 square feet on three acres in Berkeley, California.\n\nThis first mortgage bridge loan includes initial funding of approximately $18.9 million and a future funding allowance of approximately $0.2 million for leasing costs. The loan is structured with a three-year initial term and two one-year extension options, subject to the borrower meeting certain requirements.\n\nRMR Mortgage Trust (Nasdaq: RMRM) historically operated as a registered closed end investment company advised by RMR Advisors LLC, but is in the process of transitioning to a mortgage real estate investment trust. RMR Advisors LLC is a wholly owned subsidiary of The RMR Group LLC, an alternative asset management company that is the majority owned operating subsidiary of The RMR Group Inc.\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 RMRM uses words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “will,” “may” and negatives or derivatives of these or similar expressions, RMRM is making forward-looking statements. These forward-looking statements are based upon RMRM’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 RMRM’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 RMRM’s control.\n\nThe information contained in RMRM’s filings with the SEC, including under “Risk Factors” in RMRM’s periodic reports or incorporated therein, identifies other important factors that could cause RMRM’s actual results to differ materially from those stated in or implied by RMRM’s forward-looking statements. RMRM’s filings with the SEC are available on the SEC’s website at www.sec.gov.\n\nYou should not place undue reliance upon forward-looking statements.\n\nExcept as required by l...