RMR Mortgage Trust completes initial $ 39.2 million mortgage bridge loan for the acquisition of two cold storage facilities in New Hampshire

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RMR Mortgage Trust (Nasdaq: RMRM) today announced the closing of a $ 39.2 million variable rate bridge loan to finance the acquisition of two Class A cold storage warehouses located at 6 Rockingham Road and at 219 Rockingham Road in Londonderry, New Hampshire. At closing, the properties were re-let to Highwood Cold Storage and Londonderry Freezer Warehouse, respectively. RMRM’s director, Tremont Realty Capital, was introduced to the transaction by Cushman and Wakefield, who advised the sponsor, KPR.

An initial advance of approximately $ 34.2 million was funded at closing with future advances of up to $ 5.0 million available for leasehold improvements, rental commissions and capital expenditures. The loan is structured with an initial term of three years and two options for one year extension, subject to the borrower meeting certain conditions.

Tom Lorenzini, President of RMRM, made the following statement:

“This first mortgage loan secured by two well-positioned cold storage industrial properties continues our growth and the diversification of the real estate sector of RMRM’s investment portfolio. It once again demonstrates our ability to offer flexible financing to owners of mid-level and transition commercial real estate.

RMR Mortgage Trust (Nasdaq: RMRM) is a real estate finance company that creates and invests in senior mortgages secured by middle and bridging commercial real estate. RMRM is managed by a subsidiary of The RMR Group Inc. (Nasdaq: RMR). Almost all of RMR’s ​​business is carried out by its majority-owned subsidiary, The RMR Group LLC, which is an alternative asset management company with $ 32 billion in assets under management and over 35 years of institutional experience. in the purchase, sale, financing and operation of commercial real estate. domain. For more information on RMRM, please visit www.rmrmortgagetrust.com.

Tremont Realty Capital, on behalf of its capital sources, Tremont Mortgage Trust (Nasdaq: TRMT) and RMR Mortgage Trust (Nasdaq: RMRM), is a direct lender that invests in loans secured by middle and bridging commercial real estate. Tremont Realty Capital is the trading name of Tremont Realty Advisors LLC, which is a subsidiary of The RMR Group (Nasdaq: RMR). For more information on Tremont Realty Capital, please visit www.tremontcapital.com.

CAUTION REGARDING 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 RMRM uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negative or derived from these or similar expressions, RMRM makes forward-looking statements. These forward-looking statements are based on RMRM’s current intention, 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 RMRM’s forward-looking statements due to various factors. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond RMRM’s control. For example:

  • This press release refers to a continued dynamic of expansion and diversification of RMRM’s investment portfolio, which may imply that RMRM will enter into additional loans and its business will continue to improve as a result. However, RMRM’s business and its ability to execute loans are subject to various risks, including the competitive nature of the industry in which it operates, as well as other factors, many of which are beyond its control, such as the current pandemic of COVID-19. These risks and other factors may prevent RMRM from successfully entering into additional loans, carrying out new operations and achieving its investment objective. In addition, once RMRM invests or commits its remaining capital, its ability to continue to grow and finance loans will be subject to its ability to raise profitable additional capital or to redeploy the proceeds from repayments of its investments in the form of loans. ready.

The information in our “Summary of principal risk factors” included in our current report on Form 8-K filed on March 24, 2021 with the Securities and Exchange Commission, or SEC, identifies other important factors that could cause the results to differ. actual results of RMRM. substantially as indicated or implied by RMRM’s forward-looking statements. The documents filed by RMRM with the SEC are available on the SEC’s website at www.sec.gov.

You should not place undue reliance on forward-looking statements.

Except as required by law, RMRM does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.

A statutory Maryland trust with transferable beneficial interest shares listed on the Nasdaq.
No shareholder, trustee or officer is personally liable for any act or obligation of the Trust.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210407005893/en/

Contacts

Kevin Barry, Director, Investor Relations
(617) 658-0776
www.rmrmortgagetrust.com

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