NEWTON, Mass.--(BUSINESS WIRE)--Tremont Mortgage Trust (Nasdaq: TRMT) today announced that it has extended the maturity date of its Master Repurchase Facility with Citibank, N.A. by one year from November 2021 to November 2022.
Doug Lanois, Chief Financial Officer and Treasurer of TRMT, made the following statement:
“We are pleased to announce the extension of our repurchase facility with Citibank. We believe this reflects our positive relationship with our financial partner and our mutual confidence in TRMT’s loan portfolio.”
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, which is an indirect subsidiary of The RMR Group Inc.
WARNING CONCERNING FORWARD LOOKING STATEMENTS
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever TRMT uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, TRMT is making forward-looking statements. These forward-looking statements are based upon TRMT’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by TRMT’s forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond TRMT’s control. For example:
- Mr. Lanois states that TRMT believes that this extension reflects TRMT’s positive relationship with its financial partner and TRMT’s and its financial partner’s mutual confidence in TRMT’s loan portfolio. These statements may imply that Citibank may forgo taking action, or reduce any action it may take, if TRMT’s borrowers default or the value of any of the collateral underlying TRMT’s loans declines below prescribed levels. However, Citibank may ultimately determine to utilize one or more of the risk mitigation mechanisms available to it under the master repurchase agreement if TRMT’s borrowers default or the value of any collateral underlying TRMT’s loans decline below the prescribed levels. Any such action by Citibank may negatively impact TRMT’s portfolio, liquidity and prospects, and could require TRMT to sell investments or obtain replacement financing, the terms of which may be less favorable to TRMT than its current master repurchase agreement.
The information contained in TRMT’s filings with the SEC, including under “Risk Factors” in TRMT’s periodic reports or incorporated therein, identifies other important factors that could cause TRMT’s actual results to differ materially from those stated in or implied by TRMT’s forward looking statements. TRMT’s filings with the SEC are available on the SEC’s website at www.sec.gov.
You should not place undue reliance upon forward looking statements.
Except as required by law, TRMT does not intend to update or change any forward looking statements as a result of new information, future events or otherwise.
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.
