Tremont Mortgage Trust Provides $28.0 Million Refinancing for Owner of 1711 Caroline Apartments in Houston
NEWTON, Mass.--(BUSINESS WIRE)--May 13, 2019--
Tremont Mortgage Trust (Nasdaq: TRMT) today announced the closing of a $28.0 million first mortgage bridge loan it provided to refinance 1711 Caroline Apartments, a 220-unit multifamily property located in Houston, Texas.
This floating rate loan has a one and a half year initial term with two one-year extension options, subject to the borrower meeting certain conditions.
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 Group Inc.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190513005827/en/
CONTACT: Christopher Ranjitkar
Senior Director, Marketing & Investor Relations
KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS TEXAS
INDUSTRY KEYWORD: PROFESSIONAL SERVICES REIT BANKING FINANCE CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE
SOURCE: Tremont Mortgage Trust
Copyright Business Wire 2019.
PUB: 05/13/2019 04:15 PM/DISC: 05/13/2019 04:15 PM