Seven Hills Realty Trust Closes Two First Mortgage Loans Totaling $52.3 Million and Receives Office Loan Repayment

About this update from Seven Hills Realty Trust

Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of two new first mortgage loan investments totaling approximately $52.3 million and the repayment of a $26.5 million loan secured by an office property in suburban Chicago. The new loan investments include: A $36.3 million floating rate first mortgage loan to refinance Enclave at Roswell, a 236-unit multifamily property located in Roswell, Georgia. The property is located in a prominent submarket of metropolitan Atlanta with convenient access to major employment and retail corridors. The loan has a three-year initial term with two one-year extension options, subject to customary conditions. The transaction was brought to SEVN’s manager, Tremont Realty Capital, by JLL on behalf of the sponsor. A $16.0 million floating rate first mortgage loan to refinance Snapbox Self Storage Philadelphia, a 104,000 square foot self-storage facility with 1,068 units located in northeast Philadelphia, Pennsylvania. The property was originally developed in 2021 and is located within Liberty Plaza, a retail center with strong population density and convenient access to major regional transportation corridors. The loan has a three-year initial term with two one-year extension options, subject to customary conditions. The transaction was brought to Tremont Realty Capital by JLL on behalf of the sponsor, Self Storage Capital Partners. In addition, SEVN announced the full repayment of a $26.5 million loan secured by an office property in Downers Grove, Illinois. The loan, which was originated in September 2020 and was scheduled to mature in May 2026, was repaid through a borrower refinancing. This repayment reduces SEVN’s office exposure to approximately 20% of its total current portfolio. Tom Lorenzini, President and Chief Investment Officer of SEVN, made the following statement: “Today we announced two strong additions to our portfolio, executing loans on a well-located multifamily property in metropolitan Atlanta and a self-storage facility in a resilient Philadelphia submarket. Both properties benefit from strong occupancy, attractive supply-demand dynamics, and experienced sponsors with significant equity investments. Furthermore, the full repayment of the Downers Grove office loan demonstrates our continued progress in reducing SEVN’s exposure to the office sector. The return of capital through this refinan...

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