RMR Mortgage Trust Closes $30.0 Million First Mortgage Bridge Loan
September 28, 2020 at 08:00 am
RMR Mortgage Trust announced the closing of a $30.0 million first mortgage bridge loan it provided to finance the acquisition of Finley Point, a 223,771 square foot multi-tenant office building located in Downers Grove, IL. This floating rate loan includes initial funding of approximately $29.5 million and a future funding allowance of approximately $0.5 million for leasing capital. The loan is structured with a 38-month initial term and a one-year extension option, subject to the borrower meeting certain requirements.