NEWTON, Mass.--(BUSINESS WIRE)--Tremont Mortgage Trust (Nasdaq:TRMT) today announced the closing of a
$12.8 million first mortgage bridge loan to finance the acquisition of
the Mountainview Marketplace Retail Center, a 123,000 square foot retail
property located in Phoenix, Arizona.
This floating rate loan includes initial funding of $5.8 million and a
future funding allowance of $7.0 million for property improvements and
leasing capital. The loan is structured with a two-year initial term and
two one-year extension options and has an as-is LTV ratio of 48%.
Tremont Mortgage Trust (Nasdaq: TRMT) is a real estate finance company
that focuses primarily on originating and investing in first mortgage
loans secured by middle market and transitional commercial real estate.
Tremont Mortgage Trust is managed by Tremont Realty Advisors LLC, an SEC
registered investment adviser and an indirect subsidiary of The RMR
A Maryland Real Estate Investment Trust with transferable shares of
beneficial interest listed on the Nasdaq.
Trustee or officer is personally liable for any act or obligation of the
Tremont Mortgage Trust
Director, Marketing & Investor Relations