Seven Hills Realty Trust Closes $37.5 Million Loan for Auburn Student Housing Refinancing

Seven Hills Realty Trust Closes $37.5 Million Loan for Auburn Student Housing Refinancing

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.”

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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