Seven Hills Realty Trust Closes $25.3 Million Bridge Loan to Refinance Two Self-Storage Facilities in Georgia
Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $25.3 million first mortgage floating rate bridge loan to refinance two Life Storage branded self-storage facilities located at 3900 Cascade Road in Atlanta, Georgia and 815 W. Lanier Avenue in Fayetteville, Georgia.
- Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $25.3 million first mortgage floating rate bridge loan to refinance two Life Storage branded self-storage facilities located at 3900 Cascade Road in Atlanta, Georgia and 815 W. Lanier Avenue in Fayetteville, Georgia.
- The loan has a three-year initial term with two one-year extension options, subject to the borrower meeting certain requirements.
- SEVN’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.
- This $25.3 million first mortgage loan is secured by two well-leased Class A self-storage properties in vibrant metro Atlanta submarkets.