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Tremont Mortgage Trust Closes $50.0 Million First Mortgage Bridge Loan to Finance Acquisition of an Office Property in Dallas, Texas

NEWTON, Mass.–(BUSINESS WIRE)–Tremont Mortgage Trust (Nasdaq: TRMT) today announced the closing of its first $50.0 million floating rate mortgage loan to fund the acquisition of 10,000 NCX, a class of A 15-story, 296,000 square foot office tower located at 10000 North Central Expressway in Dallas, Texas. TRMT’s manager, Tremont Realty Capital, was introduced to the transaction through Colliers International, who advised the sponsor, Charter Holdings.

TRMT funded an initial advance of approximately $43.5 million at closing, with future advances of up to $6.5 million available for tenant improvements and lease commissions. The loan is structured with an initial term of three years and two one-year renewal options, provided the borrower meets certain conditions.

Tom Lorenzini, Chairman of TRMT, made the following statement:

“This $50.0 million first mortgage is secured by a well-let, Class A office building located in the Dallas North Central Expressway submarket. It reflects the continued progress of our plan to reinvest capital from recent loan repayments in strong credit capabilities, supported by mid-market commercial real estate and high-quality sponsors Our origination platform remains active and we are well positioned to take advantage of ample investment opportunities in the bridge loan market to further expand our portfolio and deliver attractive risk-adjusted returns for our shareholders.”

Tremont Mortgage Trust (Nasdaq: TRMT) is a real estate finance company that initiates and invests in prime mortgages backed by mid-market and temporary commercial real estate. TRMT is operated by a subsidiary of The RMR Group Inc. (Nasdaq: RMR). Virtually all of RMR’s ​​business is conducted by its majority subsidiary, The RMR Group LLC, an alternative wealth management firm with $32.4 billion in assets under management and more than 35 years of institutional experience buying, selling, financing and operating commercial real estate. For more information about TRMT, visit www.trmtreit.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 medium and temporary commercial real estate. Tremont Realty Capital is the trading name of Tremont Realty Advisors LLC, a subsidiary of The RMR Group (Nasdaq: RMR). For more information about Tremont Realty Capital, please visit www.tremontcapital.com.


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. When TRMT uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, TRMT makes forward-looking statements. These forward-looking statements are based on TRMT’s current intentions, beliefs or expectations, but forward-looking statements cannot be guaranteed and may not occur. Actual results could differ materially from those contained in or implied by TRMT’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 TRMT’s control. For example:

References in this press release to the closing of the 10000 NCX loan, as well as future opportunities to reallocate capital in the bridge loan market, may imply that TRMT will undertake additional borrowing and that its business will continue to perform at current levels or improve as a result. . However, TRMT’s ability to undertake additional borrowing is dependent on its ability to obtain additional cost-effective equity capital, whether through prepayment or otherwise, and on various risks, including the competitive nature of the commercial real estate lending industry, and other factors, many of which are beyond TRMT’s control. These and other risks and factors may prevent TRMT from executing additional borrowing and executing its business plan.

The information in TRMT’s filings with the Securities and Exchange Commission, or the SEC, including under “Risk Factors” in TRMT’s periodic reports or included therein, identifies other important factors that could cause TRMT’s actual results to differ materially from those stated in or implied by TRMT’s forward-looking statements. TRMT’s filings 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, TRMT does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.

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

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