Seven Hills Realty signs $25.3 million first mortgage bridge loan

By Marisa Wong

Los Angeles, Oct. 12 – Seven Hills Realty Trust announced it closed a $25.3 million first mortgage floating-rate bridge loan to refinance two Life Storage branded self-storage facilities located in Atlanta and Fayetteville, Ga., according to a press release.

The loan has a three-year initial term with two one-year extension options, subject to the borrower meeting certain requirements.

The trust’s manager, Tremont Realty Capital, was introduced to the transaction by Talonvest Capital, which advised the joint venture sponsorship of Castle Hill Investors and Olympus Ventures LLC.

Seven Hills is a Newton, Mass.-based real estate investment trust that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate.

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