Tremont Mortgage Trust Closes First $ 13.4 Million Mortgage Bridging Loan to Fund the Acquisition of Parallax Apartments in Portland, Oregon

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NEWTON, Massachusetts, August 3, 2021– (BUSINESS WIRING) –Tremont Mortgage Fund (Nasdaq: TRMT) announced the closure of its first $ 13.4 million floating rate bridging mortgage loan to finance the acquisition of Parallax Apartments, a 66-unit Class A tenement located at 4030 North Williams Avenue 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. TRMT Manager, Tremont Realty Capital, was presented to the IPA Capital Markets deal by Marcus & Millichap.

Tom LorenziniThe TRMT President made the following statement:

“We are pleased to announce the closure of this first mortgage loan secured by a modern, centrally located multi-family property located in one of Portland’s most popular residential areas. This loan is in line with TRMT’s goal of investing capital in strong lending opportunities supported by the medium market. commercial real estate and high quality sponsors. TRMT’s investment portfolio remains active and we look forward to getting additional loans such as Parallax that meet our ROI and credit criteria. ”

Tremont Mortgage Trust (Nasdaq: TRMT) is a real estate finance company that creates and invests in the first mortgage loans secured by mid-market and transitional commercial real estate. TRMT is operated by an affiliate 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 TRMT visit www.trmtreit.com

Tremont Realty Capital, on behalf of its sources of capital, Tremont Mortgage Fund (Nasdaq: TRMT) and RMR Mortgage Fund (Nasdaq: RMRM), is a direct lender investing in loans secured by commercial real estate in the middle and transitional period. Tremont Realty Capital is a trade name of Tremont Realty Advisors LLC, which is 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, when TRMT uses words such as “believe”, “expect”, “expect”, “intend”, “plan”, “estimate”, “will”, “may” and negative or derived from these or similar expressions . TRMT makes forward-looking statements. These forward-looking statements are based on TRMT’s current intent, beliefs or expectations, but forward-looking statements are not guaranteed and may not occur. Actual results could differ materially from those contained in or implied in TRMT’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 TRMT’s control. For example:

  • The statements in this press release regarding the quality of the Parallax loan and TRMT’s investment portfolio remaining active, as well as expectations for additional loans that meet TRMT’s yield requirements and creditworthiness criteria, could mean that TRMT will execute additional loans of the same quality as and Parallax. credit and that TRMT’s business will continue to operate at its current level or improve as a result. However, TRMT’s ability to disburse additional loans depends on its ability to obtain additional profitable equity capital, whether through early repayment of loans or otherwise, as well as various risks, including the competitive nature of the commercial real estate lending industry and other factors, many of which are beyond its control. … These and other risks and factors can prevent TRMT from obtaining additional loans and fulfilling its business plan.

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

Maryland real estate investment fund with transferable shares of income registered on the Nasdaq.
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/20210803005202/en/

Contacts

Kevin Barry
Investor Relations Manager
(617) 658-0776

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