**SEVN Closes $34.5M Loan to Refinance Upper West Side Mixed-Use Property**
Seven Hills Realty Trust (SEVN) has successfully closed a $34.5 million floating-rate first mortgage loan to refinance 2875 Broadway, a mixed-use property located on Manhattan’s Upper West Side. The 23,300-square-foot asset includes both retail and medical office space.
The loan features an initial two-year term and offers three one-year extension options, contingent upon the borrower meeting specified conditions.
The deal was facilitated by SEVN’s manager, Tremont Realty Capital, and introduced by Meridian Capital Group, which advised TPG Angelo Gordon and Premier Equities—sponsors of the project.
Tom Lorenzini, President and Chief Investment Officer of SEVN, commented on the transaction, stating, “The financing of 2875 Broadway aligns with our strategic focus on originating first mortgage loans backed by experienced sponsors. This mixed-use asset is fully leased to a diverse tenant base of national retailers and long-term medical providers, offering steady cash flow that enhances the investment’s credit profile.”
The property’s prime location and robust occupancy highlight the continuing appeal of well-located, diversified urban assets in the current lending environment.
