Deal snapshot: Seven Hills Realty Trust Closes USD 31.5m Bridge Loan to Finance Acquisition of Summit Apartments.

MANews-(C)2009-2022

US-based real estate finance company Seven Hills Realty Trust (NASDAQ: SEVN) has closed a USD 31.5m first mortgage floating-rate bridge loan to finance the acquisition and repositioning of Summit Apartments, a 154-unit multifamily property located at 29925-30205 Summit Drive in Farmington Hills, Michigan, the company said.

An initial advance of approximately USD 28.5m was funded at closing with...

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