Tremont Acquires $42,500,000 Bridge Loan from a National Lender
Tremont Realty Capital recently acquired a $42,500,000, performing first mortgage loan. The Note was originated as a bridge loan in July of 2007 by a national lender, and is secured by first mortgages on two well-located Class B office buildings in the metro-suburban areas of Dallas and Chicago (325,000 and 179,000 square feet, respectively).
Rick Gallitto, an Executive Director with Tremont, was presented with the opportunity directly from the existing lender, and Tremont purchased the Note all cash. The properties were approximately 50% occupied at the time of Tremont’s closing. According to Gallitto, “Purchasing the Note presented Tremont with a great opportunity to invest in quality assets with great public entity sponsorship.”
For additional information on this transaction,
please contact:
Richard Gallitto -
Executive Director
Email: rgallitto@tremontcapital.com
