Tremont Mortgage Trust Closes $15.3 Million Bridge Loan

NEWTON, Mass.–(BUSINESS WIRE)–Tremont Mortgage Trust (Nasdaq: TRMT) today announced the closing of a $15.3 million first mortgage floating-rate bridge loan to refinance Prime Center at Northridge office park. The property is comprised of two adjacent single-story multi-tenant office buildings with a total of approximately 125,000 square feet located at 1765 and 1865 W. 121^st Avenue in Westminster, Colorado. TRMT’s manager, Tremont Realty Capital, was introduced to the transaction by ColumbiaNational, which advised the sponsors, Redfearn Capital and Foundation Capital Partners.

TRMT funded an initial advance of approximately $13.5 million at closing, with future advances of up to $1.8 million available for tenant improvements, leasing commissions and capital expenditures. The loan is structured with a three-year initial term and two one-year extension options, subject to the borrower meeting certain conditions.

Tom Lorenzini, President of TRMT, made the following statement:

“The closing of the Prime Center loan demonstrates our continued execution of our business plan to fund first mortgage whole loans secured by middle market and transitional commercial real estate. Prime Center is owned by an institutional borrower and is a prototypical loan for TRMT, with its stable current rent roll and likely enhanced collateral value as our borrower executes on the approved business plan. Our manager, Tremont Realty Capital, remains active in the market with a robust pipeline of potential opportunities to deploy capital in loans like Prime Center that deliver attractive risk-adjusted returns.”

Tremont Mortgage Trust (Nasdaq: TRMT) is a real estate finance company that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate. TRMT is managed by an affiliate of The RMR Group Inc. (Nasdaq: RMR). Substantially all of RMR’s business is conducted by its majority owned subsidiary, The RMR Group LLC, which is an alternative asset management company with $32 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 TRMT, please visit www.trmtreit.com.

Tremont Realty Capital, on behalf of its capital sources, Tremont Mortgage Trust (Nasdaq: TRMT) and RMR Mortgage Trust (Nasdaq: RMRM), is a direct lender that invests in loans secured by middle market and transitional commercial real estate. Tremont Realty Capital is the trade name of Tremont Realty Advisors LLC, which is an affiliate of The RMR Group (Nasdaq: RMR). For more information about Tremont Realty Capital please visit www.tremontcapital.com.

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