Seven Hills Realty Trust Closes $23.8 Million Mortgage Loan to Recapitalize a Self-Storage Property in Los Angeles
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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 $23.8 million first mortgage floating rate loan to recapitalize 2515 S Broadway, a newly constructed, Extra Space Storage branded 80,000 square foot self-storage facility located in Los Angeles, CA.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 JLL, which advised Staley Point Capital, the Los Angeles based sponsor.Tom Lorenzini, President and Chief Investment Officer of SEVN, made the following statement:“The closing of the 2515 S Broadway loan further grows our portfolio and diversifies it into the self-storage sector. This Class A self-storage property is in a supply constrained market near the University of Southern California’s main campus. With ample liquidity for investment and a strong pipeline, we continue to foc
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News
- Seven Hills Realty Trust Second Quarter 2024 Conference Call Scheduled for Tuesday, July 30thBusiness Wire
- Seven Hills Realty Trust (NASDAQ: SEVN) had its price target raised by analysts at JMP Securities from $13.50 to $14.00. They now have a "market outperform" rating on the stock.MarketBeat
- Seven Hills Realty Trust to be Added to the Russell 3000® IndexBusiness Wire
- Seven Hills Realty Trust to Present at Nareit’s REITweek 2024 Investor Conference on Wednesday, June 5thBusiness Wire
- Seven Hills Realty Trust Appoints Jared Lewis as Vice PresidentBusiness Wire
SEVN
Sec Filings
- 6/3/24 - Form 4
- 6/3/24 - Form 4
- 6/3/24 - Form 4
- SEVN's page on the SEC website