Seven Hills Realty Trust Secures $17.8M Bridge Loan For Hilton Village Townhomes

The financial transaction involved the acquisition of Hilton Village Townhomes, a 160-unit apartment complex located at 531 Bulkeley Place in Newport News, Virginia. The loan amount secured for the acquisition was $17,800,000. Tremont Realty Capital provided a $17.8 million first mortgage floating rate bridge loan to Seven Hills Realty Trust (Nasdaq: SEVN) for this property.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $17,800,000
• Address: 531 Bulkeley Place
• Market: Newport News, VA
• Units: 160
• Lender: Tremont Realty Capital
• Landlord: Seven Hills Realty Trust
• Loan Type: Bridge

The closing of the $17.8 million bridge loan for the Hilton Village Townhomes acquisition was facilitated by Seven Hills Realty Trust, represented by Tremont Realty Capital. This transaction highlights the strategic financial decision-making by the entities involved in enhancing their real estate portfolio through the acquisition of the multifamily property.