Seven Hills Realty Trust announced the closing of a $28 million first mortgage floating rate bridge loan to refinance Rise at Loop 410. This property is a 360,000 square foot industrial warehouse distribution facility located in San Antonio, Texas.
The loan has a three-year initial term with two one-year extension options, subject to the borrower meeting certain requirements. Grandview Partners, a Greenwich, Connecticut-based sponsor, originated the transaction.
Tom Lorenzini, President and Chief Investment Officer of SEVN, stated that this investment aligns with the company's focus on deploying capital into compelling, risk-adjusted opportunities. He noted that the property's location provides direct access to key transportation corridors and a growing workforce.
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