Seven Hills Realty Trust Closes $23.5 Million Bridge Loan To Refinance An Office Building In Downers Grove, Il
Seven Hills Realty Trust Closes $23.5 Million Bridge Loan To Refinance An Office Building In Downers Grove, Il
12/14/21, 9:15 PM
Location
Money raised
$23.5 million
Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $23.5 million first mortgage floating-rate bridge loan to refinance Woodland Corporate Tower, a 185,000 square foot, multi-tenant office property located at 1333 Butterfield Road in Downers Grove, Illinois. The loan is structured with a three-year initial term and two one-year extension options, subject to the borrower meeting certain requirements. SEVN’s manager, Tremont Realty Capital, was introduced to the transaction by CBRE, which advised the sponsor, Stanton Road Capital.