NEWTON, Mass.--(BUSINESS WIRE)--Tremont Mortgage Trust (Nasdaq: TRMT) today announced the closing of a $22.8 million first mortgage bridge loan it provided to refinance The Blazer Plaza, a three building office/lab campus containing 519,000 square feet on 54 acres in Dublin, OH.
This floating rate loan includes initial funding of $12.1 million and a future funding allowance of approximately $10.7 million for tenant improvements. The loan is structured with a two-year initial term and a one-year extension option, subject to the borrower meeting certain requirements.
Tremont Mortgage Trust (Nasdaq: TRMT) is a real estate finance company that focuses 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.
