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Stock impact report

Seven Hills Realty Trust Closes $31.2 Million Bridge Loan to Finance the Acquisition of a Student Housing Property Near Texas State University

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 $31.2 million first mortgage floating rate bridge loan for the acquisition of The Lodge, a 696-bed (258-unit) student housing property located near the 40,000 student Texas State University in San Marcos, Texas.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 Walker & Dunlop, which advised Palladius Capital Management, the sponsor.Tom Lorenzini, President and Chief Investment Officer of SEVN, made the following statement:“We continue to identify and close compelling loan investment opportunities, such as this loan for the acquisition of The Lodge, a student housing community near Texas State University. With an active pipeline of quality opportunities, SEVN is committed to further expanding its presence across key asset cl Show less Read more
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