RMR Mortgage Trust Announces the Completion of Its Merger with Tremont Mortgage Trust
The Combined Company Will Be Renamed Seven Hills Realty Trust and will Begin Trading on the Nasdaq under the Ticker Symbol "SEVN" on October 1st
RMR Mortgage Trust (NASDAQ:RMRM) today announced that it has completed its merger with Tremont Mortgage Trust (NASDAQ:TRMT).
In connection with the merger, the combined company changed its name to "Seven Hills Realty Trust." The company will begin trading on the Nasdaq under the ticker symbol "SEVN" on October 1, 2021. For more information about SEVN, please visit www.SEVNreit.com. Concurrent with the merger, SEVN's manager, Tremont Realty Advisors LLC, has changed its name to "Tremont Realty Capital."
Tom Lorenzini, President of SEVN, made the following statement:
"We are excited to have completed this merger resulting in SEVN becoming a larger, more diversified mortgage REIT with an expanded capital base, increased operating efficiency and improved access to capital markets. We look forward to expanding SEVN's investment portfolio to nearly $1 billion when fully invested and generating attractive, risk adjusted returns for our shareholders as we continue our focus on middle market commercial mortgage lending."
Seven Hills Realty Trust (NASDAQ:SEVN), formerly known as RMR Mortgage Trust (NASDAQ:RMRM), is a real estate finance company that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate. SEVN is managed by an affiliate of The RMR Group Inc. (NASDAQ:RMR). Substantially all of RMR's business is conducted by its majority owned subsidiary, The RMR Group LLC, which is an alternative asset management company with $32 billion in assets under management and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. For more information about SEVN, please visit www.SEVNreit.com.
WARNING CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever we use words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "will," "may" and negatives or derivatives of these or similar expressions, we are making forward-looking statements. These forward-looking statements are based upon our present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by our forward-looking statements as a result of various factors. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond our control. For example:
- The expectation to realize a number of benefits from the merger, including enhanced scale, increased operating efficiency, improved access to capital markets, and the ability to generate attractive risk-adjusted returns for shareholders. These expectations may not be realized as currently expected or at all.
The information contained in SEVN's filings with the Securities and Exchange Commission, or SEC, including under "Risk Factors" in SEVN's registration statement on Form S-4, or the Form S-4, and the joint proxy statement/prospectus of RMRM and TRMT contained therein, and in SEVN's periodic reports or incorporated therein, identifies other important factors that could cause SEVN's actual results to differ materially from those stated in or implied by SEVN's forward-looking statements. SEVN's filings with the SEC are available on the SEC's website at www.sec.gov.
You should not place undue reliance upon forward-looking statements.
Except as required by law, SEVN does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
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