RMR Mortgage Trust Provides $ 41 Million in New First Mortgage Bridge Loans


NEWTON, Mass .– (COMMERCIAL THREAD) – RMR Mortgage Trust (Nasdaq: RMRM) today announced the closing of two new senior mortgages totaling $ 41.1 million with initial financing of $ 31.9 million.

RMRM has entered into an initial $ 24.6 million mortgage bridge loan for the acquisition of 5500 Franklin Avenue, a 2-acre commercial property in the East Hollywood / Silverlake submarket of Los Angeles, California. This variable rate loan includes initial financing of approximately $ 17.2 million to finance the acquisition and a provision for future financing of approximately $ 7.4 million for the expansion. The loan is structured with an initial term of two years and two options of one year extension, subject to the borrower meeting certain conditions.

RMRM also entered into an initial bridge loan of $ 16.5 million to refinance 750 North Commons Drive, a mixed-use property consisting of a 114,000 square foot office building and a 91,000 industrial warehouse. square feet on 16 acres in Aurora, Illinois. This variable rate loan includes initial financing of approximately $ 14.7 million and a provision for future financing of approximately $ 1.8 million for leasehold improvements. The loan is structured with an initial term of three years and an option to extend for one year, subject to the borrower meeting certain conditions.

RMR Mortgage Trust (Nasdaq: RMRM) historically operated as a registered closed-end investment company advised by RMR Advisors LLC, but is in the process of transitioning to a mortgage real estate investment trust. RMR Advisors LLC is a wholly owned subsidiary of The RMR Group LLC, an alternative asset management company which is the majority-owned operating subsidiary of The RMR Group Inc.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This 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. In addition, whenever RMRM uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “can” and expressions that are negative or derived from such expressions or similar expressions, RMRM makes forward-looking statements. These forward-looking statements are based on RMRM’s current intention, beliefs or expectations, but forward-looking statements are not guaranteed and may not occur. Actual results may differ materially from those contained or implied by RMRM’s forward-looking statements due to various factors. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond RMRM’s control.

Information contained in documents filed by RMRM with the SEC, including under the heading “Risk Factors” in or incorporated into RMRM’s periodic reports, identifies other material factors that could cause RMRM’s actual results differ materially from those indicated or implied by RMRM’s forward-looking statements. The documents filed by RMRM with the SEC are available on the SEC’s website at www.sec.gov.

You should not place undue reliance on forward-looking statements.

Except as required by law, RMRM does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.

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