NEWTON, Massachusetts, July 20, 2021– (BUSINESS WIRING) –RMR Mortgage Fund (Nasdaq: RMRM) announced the closure of its first $ 19.7 million floating rate bridging mortgage loan to finance the acquisition of Laurel 42, a 100-unit apartment building located at 4242 NE Halsey Street in Portland, Oregon. The loan is structured with an initial three-year maturity and two renewal options for one year, subject to the borrower’s compliance with certain requirements. RMRM Manager, Tremont Realty Capital, was presented to the IPA Capital Markets deal by Marcus & Millichap.
Tom LorenziniThe President of RMRM made the following statement:
“We are delighted to announce the closure of this first mortgage secured by a Class A apartment building in downtown Hollywood, downtown Portland. This loan further diversifies RMRM’s investment portfolio and expands our loan portfolio to nearly $ 300 million in invested capital. … We look forward to continued growth in the RMRM portfolio and to delivering attractive risk-adjusted returns to our shareholders. ”
RMR Mortgage Trust (Nasdaq: RMRM) is a real estate finance company that creates and invests in the first mortgage loans secured by mid-market and commercial real estate in transition. RMRM is operated by a branch RMR Inc. group of companies (Nasdaq: RMR)… Virtually all of RMR’s business is carried out by its controlling subsidiary RMR Group LLC, which is an alternative asset management company with $ 32 billion in assets under management and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. … property. For more information on RMRM visit www.rmrmortgagetrust.com…
Tremont Realty Capital, on behalf of its sources of capital, Tremont Mortgage Trust (Nasdaq: TRMT) and RMR Mortgage Trust (Nasdaq: RMRM) is a direct lender investing in loans secured by mid-market and commercial real estate in transition. Tremont Realty Capital is a trade name of Tremont Realty Advisors LLC, a subsidiary of the RMR Group (Nasdaq: RMR). For more information on Tremont Realty Capital visit www.tremontcapital.com…
WARNING REGARDING FORWARD-LOOKING STATEMENTS
This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. In addition, whenever RMRM uses words such as “believe,” “expect,” “expect,” “intend,” “plan,” “evaluate,” “will,” “may,” and are negative or derived from these or similar expressions, RMRM makes forward-looking statements. These forward-looking statements are based on the current intent, beliefs or expectations of RMRM, but forward-looking statements are not guaranteed and may not occur. Actual results could differ materially from those contained in or implied in RMRM’s forward-looking statements as a result of various factors. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond the control of RMRM. For example:
This press release mentions recent closed loans and future plans to expand RMRM’s business as a commercial mortgage REIT and achieve its investment objective, which could mean that RMRM will close additional loans, that it will achieve its investment objective and that its business will continue to improve. … as a result. However, RMRM’s business and its ability to arrange loans and pursue its investment objectives is 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 COVID-19 pandemic. These risks and other factors can prevent RMRM from successfully closing additional loans, starting a new business and realizing its investment goal. In addition, after RMRM invests or transfers the remaining capital, its ability to continue to grow and fund loans will depend on its ability to raise additional profitable capital or reallocate proceeds from repaying its loan investments.
Information contained in RMRM filings with the Securities and Exchange Commission or SEC, including in or included in the Risk Factors section of the RMRM periodic reports, identifies other important factors that may cause actual RMRM results to be differ materially from those stated or implied by the RMRM Forward-looking Statements. RMRM documents to the SEC are available on the SEC 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.
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No shareholder, Trustee or officer is personally responsible for any actions or obligations of the Trust.
See the original version at businesswire.com: https://www.businesswire.com/news/home/20210720005138/en/
Kevin Barry, Investor Relations Manager