Market Overview

Tremont Mortgage Trust Closes $14.8 Million First Mortgage Bridge Loan to Refinance a Scarsdale, NY Office Building

Share:

Tremont Mortgage Trust (NASDAQ:TRMT) today announced the closing of a
$14.8 million first mortgage bridge loan to refinance 2 Overhill Road, a
62,000 square foot, 4-story office building located in Scarsdale, New
York.

This floating rate loan includes initial funding of $13.8 million and a
future funding allowance of $1.1 million for building improvements and
leasing capital. The loan is structured with a three-year initial term
and two one-year extension options and has an as-is LTV ratio of 78%.

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 Comments and Join the Discussion!