RMR Mortgage Trust Provides $10.9 Million First Mortgage Bridge Loan for the Acquisition of an Office Building in Miami, FL

RMR Mortgage Trust (Nasdaq: RMRM) has successfully closed a $10.9 million first mortgage bridge loan to finance the acquisition of a nine-story multi-tenant office building totaling 83,000 square feet located at 5040 NW 7th Street, Miami, Florida.

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01/20/2021 - 08:00 AM EST

RMR Mortgage Trust (Nasdaq: RMRM) today announced the closing of a $10.9 million first mortgage bridge loan it provided to finance the acquisition of a nine-story multi-tenant office building containing 83,000 square feet at 5040 NW 7th Street in Miami, Florida. This first mortgage bridge loan is structured with a two-year initial term and two one-year extension options, subject to the borrower meeting certain requirements.

RMR Mortgage Trust (Nasdaq: RMRM) is a real estate finance company that focuses on originating and investing in first mortgage loans secured by middle market and transitional commercial real estate. RMR Mortgage Trust is managed by Tremont Realty Advisors LLC, an SEC registered investment adviser, which is a direct subsidiary of The RMR Group LLC. The RMR Group LLC, an alternative asset management company, is the majority owned operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), which is headquartered in Newton, MA.