Seven Hills Realty Trust Closes $17.8 Million Bridge Loan to Finance the Acquisition of a Multifamily Property in Virginia
Seven Hills Realty Trust (SEVN)
Company Research
Source: Business Wire
NEWTON, Mass.--(BUSINESS WIRE)--Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $17.8 million first mortgage floating rate bridge loan to finance the acquisition of the Hilton Village Townhomes, a 160-unit apartment complex located at 531 Bulkeley Place in Newport News, Virginia.The loan has a three-year initial term with two one-year extension options, subject to the borrower meeting certain requirements. SEVN’s manager, Tremont Realty Capital, was introduced to the transaction by CBRE, which advised Ritz Banc Group, the Arlington, Virginia based sponsor.Tom Lorenzini, President and Chief Investment Officer of SEVN, made the following statement:“The closing of the Hilton Village Townhomes loan demonstrates continued growth and further diversification of our portfolio into the multifamily sector. This well leased property is located near downtown Newport News and is less than five miles from Newport News Shipbuilding, a significant employer in the region.
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- Seven Hills Realty Trust (NASDAQ: SEVN) had its "buy" rating re-affirmed by analysts at Jonestrading. They now have a $15.00 price target on the stock.MarketBeat
- Seven Hills Realty Trust Announces First Quarter 2024 ResultsBusiness Wire
- Seven Hills Realty Trust's (NASDAQ:SEVN) largest shareholders are retail investors with 58% ownership, institutions own 28% [Yahoo! Finance]Yahoo! Finance
SEVN
Sec Filings
- 5/20/24 - Form 8-K
- 4/29/24 - Form 10-Q
- 4/29/24 - Form 8-K
- SEVN's page on the SEC website