Seven Hills Realty Trust recently closed a $37.5 million first mortgage bridge loan to refinance The Union at Auburn, a 501-bed Class A student housing property located near the Auburn University campus. This loan is structured with an initial term of 30 months and one 12-month extension option, subject to certain requirements being met by the borrower. This marks Seven Hills Realty Trust’s second transaction with Boston-based WFI.
Tom Lorenzini, President of Seven Hills Realty Trust commented: “We remain committed to finding investment opportunities that offer attractive risk adjusted returns in today’s lending environment. The Union at Auburn loan was made for refinancing purposes on a recently developed Class A student housing community situated less than one mile from the university campus.” He added: “Our pipeline remains active and we have sufficient liquidity available for additional opportunities in upcoming months.”
