Seven Hills Realty Trust announced the closing of a $42 million first mortgage floating-rate bridge loan to refinance The Domain at Oxford, a 642-bed (216-unit) student housing property located near the University of Mississippi (Ole Miss) in Oxford, Miss.
The loan has a three-year initial term with two one-year extension options, subject to the borrower meeting certain requirements. SEVN’s manager, Tremont Realty Capital, was introduced to the transaction by Newmark, which advised Shore to Shore Properties, the Sausalito, Calif.-based sponsor.
