{"id":787331,"date":"2023-10-02T08:46:14","date_gmt":"2023-10-02T12:46:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\/"},"modified":"2023-10-02T08:46:14","modified_gmt":"2023-10-02T12:46:14","slug":"seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\/","title":{"rendered":"Seven Hills Realty Trust Closes $17.3 Million Bridge Loan to Recapitalize a New Hotel in Scottsdale, Arizona"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwmarginl1 { margin-left: 30px }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Seven Hills Realty Trust Closes $17.3 Million Bridge Loan to Recapitalize a New Hotel in Scottsdale, Arizona<\/b><\/p>\n<p>NEWTON, Mass.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fsevnreit.com%2Fhome%2Fdefault.aspx&amp;esheet=53566596&amp;newsitemid=20230929376155&amp;lan=en-US&amp;anchor=Seven+Hills+Realty+Trust+%28Nasdaq%3A+SEVN%29&amp;index=1&amp;md5=492dfd069639771fd5ee3ce01cc10659\">Seven Hills Realty Trust (Nasdaq: SEVN)<\/a> today announced the closing of a $17.3 million first mortgage floating rate bridge loan to recapitalize a recently constructed 130-room Home2 Suites by Hilton hotel located at 20001 N. Scottsdale Road in Scottsdale, Arizona. The loan has a three-year initial term with two one-year extension options, subject to the borrower meeting certain requirements. SEVN\u2019s manager, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.tremontcapital.com%2FHome%2Fdefault.aspx&amp;esheet=53566596&amp;newsitemid=20230929376155&amp;lan=en-US&amp;anchor=Tremont+Realty+Capital&amp;index=2&amp;md5=50009e490e9a22d784d0e5a871a885f5\">Tremont Realty Capital<\/a>, was introduced to the transaction by <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.cbre.com%2F&amp;esheet=53566596&amp;newsitemid=20230929376155&amp;lan=en-US&amp;anchor=CBRE&amp;index=3&amp;md5=60fc2205177a35537ca5c65c329ad934\">CBRE<\/a>, which advised the joint venture sponsorship of <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.highgate.com%2F&amp;esheet=53566596&amp;newsitemid=20230929376155&amp;lan=en-US&amp;anchor=Highgate&amp;index=4&amp;md5=93986b48414525e8d591cc6fd305daba\">Highgate<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Frockpoint.com%2F&amp;esheet=53566596&amp;newsitemid=20230929376155&amp;lan=en-US&amp;anchor=Rockpoint&amp;index=5&amp;md5=b659b92838369766607a3f71692dd679\">Rockpoint<\/a>.<\/p>\n<p class=\"bwmarginl1\"><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fsevnreit.com%2Fabout-us%2Fleadership%2Fthomas-lorenzini%2Fdefault.aspx&amp;esheet=53566596&amp;newsitemid=20230929376155&amp;lan=en-US&amp;anchor=Tom+Lorenzini&amp;index=6&amp;md5=619cbcbdb72adba89929b0bebee81abe\">Tom Lorenzini<\/a>, President and Chief Investment Officer of SEVN, made the following statement:<\/p>\n<p class=\"bwmarginl1\">\n\u201cThe closing of the Home2 Suites loan demonstrates the continued growth and diversification of SEVN\u2019s investment portfolio. This $17.3 million loan is secured by a new Hilton branded hotel in the Phoenix-Scottsdale medical corridor near numerous amenities and demand generators, including the Mayo Clinic hospital, TPC Scottsdale and the Scottsdale Airport. We remain active in the current lending environment and continue to focus on lending opportunities to well-capitalized institutional sponsors that present attractive risk adjusted returns.\u201d<\/p>\n<p><b>About Seven Hills Realty Trust<\/b><\/p>\n<p>\nSeven Hills Realty Trust (Nasdaq: SEVN) is a real estate investment trust, or REIT, that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate. SEVN is managed by <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.tremontcapital.com%2FHome%2Fdefault.aspx&amp;esheet=53566596&amp;newsitemid=20230929376155&amp;lan=en-US&amp;anchor=Tremont+Realty+Capital&amp;index=7&amp;md5=99bba258a2cf9b81724b62fd3aca92d2\">Tremont Realty Capital<\/a>, an affiliate of <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.rmrgroup.com%2FHome%2F&amp;esheet=53566596&amp;newsitemid=20230929376155&amp;lan=en-US&amp;anchor=The+RMR+Group+%28Nasdaq%3A+RMR%29&amp;index=8&amp;md5=be967ae987dd587fc005fac3dca52bed\">The RMR Group (Nasdaq: RMR)<\/a>, a leading U.S. alternative asset management company with approximately $36 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 <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fsevnreit.com%2Fhome%2Fdefault.aspx&amp;esheet=53566596&amp;newsitemid=20230929376155&amp;lan=en-US&amp;anchor=www.sevnreit.com&amp;index=9&amp;md5=5de71242343cb3acd0113d19ab7a421a\">www.sevnreit.com<\/a>.<\/p>\n<p class=\"bwalignc\"><b><span class=\"bwuline\">WARNING CONCERNING FORWARD-LOOKING STATEMENTS<\/span><\/b><\/p>\n<p>\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. These statements may include words such as \u201cbelieve,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cestimate,\u201d \u201cwill,\u201d \u201cmay\u201d and negatives or derivatives of these or similar expressions. These forward-looking statements include, among others, statements about SEVN\u2019s investment focus and ability to complete additional loan investments in the future. Forward-looking statements reflect SEVN\u2019s current expectations, are based on judgments and assumptions, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause SEVN\u2019s actual results, performance or achievements to differ materially from expected future results, performance or achievements expressed or implied in those forward-looking statements. Some of the risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, the following: the ability of SEVN to make additional investments; the success of SEVN\u2019s investments; SEVN\u2019s available liquidity, access to capital and cost of capital; and various other matters. These risks, uncertainties and other factors are not exhaustive and should be read in conjunction with other cautionary statements that are included in SEVN\u2019s periodic filings with the Securities and Exchange Commission, or SEC. The information contained in SEVN\u2019s filings with the SEC, including under the caption \u201cRisk Factors\u201d in its periodic reports, or incorporated therein, identifies important factors that could cause SEVN\u2019s actual results to differ materially from those stated in or implied by SEVN\u2019s forward-looking statements. SEVN\u2019s filings with the SEC are available on the SEC\u2019s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=53566596&amp;newsitemid=20230929376155&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=10&amp;md5=6d86855c870ef5274def737bd3db7ad5\">www.sec.gov<\/a>. 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.<\/p>\n<p class=\"bwalignc\">\nA Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.<\/p>\n<p>No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230929376155r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230929376155\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230929376155\/en\/<\/a><\/span><\/p>\n<p>\nKevin Barry, Director, Investor Relations<br \/>\n<br \/>(617) 332-9530<br \/>\n<br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sevnreit.com&amp;esheet=53566596&amp;newsitemid=20230929376155&amp;lan=en-US&amp;anchor=www.sevnreit.com&amp;index=11&amp;md5=b7f21797b60e290eb075cbedae4a067c\">www.sevnreit.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Arizona Massachusetts United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> REIT Finance Professional Services Residential Building &amp; Real Estate Construction &amp; Property<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230929376155\/en\/1268790\/3\/Seven_Hills_Realty_Trust.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Seven Hills Realty Trust Closes $17.3 Million Bridge Loan to Recapitalize a New Hotel in Scottsdale, Arizona NEWTON, Mass.&#8211;(BUSINESS WIRE)&#8211;Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $17.3 million first mortgage floating rate bridge loan to recapitalize a recently constructed 130-room Home2 Suites by Hilton hotel located at 20001 N. Scottsdale Road in Scottsdale, Arizona. The loan has a three-year initial term with two one-year extension options, subject to the borrower meeting certain requirements. SEVN\u2019s manager, Tremont Realty Capital, was introduced to the transaction by CBRE, which advised the joint venture sponsorship of Highgate and Rockpoint. Tom Lorenzini, President and Chief Investment Officer of SEVN, made the following statement: \u201cThe closing of the Home2 Suites loan &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Seven Hills Realty Trust Closes $17.3 Million Bridge Loan to Recapitalize a New Hotel in Scottsdale, Arizona&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-787331","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Seven Hills Realty Trust Closes $17.3 Million Bridge Loan to Recapitalize a New Hotel in Scottsdale, Arizona - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seven Hills Realty Trust Closes $17.3 Million Bridge Loan to Recapitalize a New Hotel in Scottsdale, Arizona - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Seven Hills Realty Trust Closes $17.3 Million Bridge Loan to Recapitalize a New Hotel in Scottsdale, Arizona NEWTON, Mass.&#8211;(BUSINESS WIRE)&#8211;Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $17.3 million first mortgage floating rate bridge loan to recapitalize a recently constructed 130-room Home2 Suites by Hilton hotel located at 20001 N. Scottsdale Road in Scottsdale, Arizona. The loan has a three-year initial term with two one-year extension options, subject to the borrower meeting certain requirements. SEVN\u2019s manager, Tremont Realty Capital, was introduced to the transaction by CBRE, which advised the joint venture sponsorship of Highgate and Rockpoint. Tom Lorenzini, President and Chief Investment Officer of SEVN, made the following statement: \u201cThe closing of the Home2 Suites loan &hellip; Continue reading &quot;Seven Hills Realty Trust Closes $17.3 Million Bridge Loan to Recapitalize a New Hotel in Scottsdale, Arizona&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-02T12:46:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230929376155r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Seven Hills Realty Trust Closes $17.3 Million Bridge Loan to Recapitalize a New Hotel in Scottsdale, Arizona\",\"datePublished\":\"2023-10-02T12:46:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\\\/\"},\"wordCount\":700,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20230929376155r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\\\/\",\"name\":\"Seven Hills Realty Trust Closes $17.3 Million Bridge Loan to Recapitalize a New Hotel in Scottsdale, Arizona - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\/","og_locale":"en_US","og_type":"article","og_title":"Seven Hills Realty Trust Closes $17.3 Million Bridge Loan to Recapitalize a New Hotel in Scottsdale, Arizona - Market Newsdesk","og_description":"Seven Hills Realty Trust Closes $17.3 Million Bridge Loan to Recapitalize a New Hotel in Scottsdale, Arizona NEWTON, Mass.&#8211;(BUSINESS WIRE)&#8211;Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $17.3 million first mortgage floating rate bridge loan to recapitalize a recently constructed 130-room Home2 Suites by Hilton hotel located at 20001 N. Scottsdale Road in Scottsdale, Arizona. The loan has a three-year initial term with two one-year extension options, subject to the borrower meeting certain requirements. SEVN\u2019s manager, Tremont Realty Capital, was introduced to the transaction by CBRE, which advised the joint venture sponsorship of Highgate and Rockpoint. Tom Lorenzini, President and Chief Investment Officer of SEVN, made the following statement: \u201cThe closing of the Home2 Suites loan &hellip; Continue reading \"Seven Hills Realty Trust Closes $17.3 Million Bridge Loan to Recapitalize a New Hotel in Scottsdale, Arizona\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\/","og_site_name":"Market Newsdesk","article_published_time":"2023-10-02T12:46:14+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230929376155r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Seven Hills Realty Trust Closes $17.3 Million Bridge Loan to Recapitalize a New Hotel in Scottsdale, Arizona","datePublished":"2023-10-02T12:46:14+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\/"},"wordCount":700,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230929376155r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/seven-hills-realty-trust-closes-17-3-million-bridge-loan-to-recapitalize-a-new-hotel-in-scottsdale-arizona\/","name":"Seven Hills Realty Trust Closes $17.3 Million Bridge Loan to Recapitalize a New Hotel in Scottsdale, Arizona - 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