Seven Hills Realty Trust announced the closing of an $18 million first mortgage floating rate bridge loan to refinance Curtis Junction. This recently renovated 112-unit multifamily property is located in Boise, Idaho.
The loan is structured with a three-year initial term and includes two one-year extension options, subject to the borrower meeting specific requirements. RanchHarbor, a Newport Beach, California-based sponsor, advised on the transaction.
Tom Lorenzini, President and Chief Investment Officer of SEVN, stated that this investment reflects the company's continued focus on providing capital to experienced sponsors and financing well-located properties. He highlighted the property's position to capitalize on the solid fundamentals of the Boise multifamily market.
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