RMR Mortgage Trust is working toward expanding its first mortgage and transitional commercial real estate portfolio.
The real estate finance company recently closed a $12.5 million first mortgage floating-rate bridge loan to finance the acquisition of a Class A, 45-unit apartment building located in downtown Seattle.
RMRM president Tom Lorenzini said that the loan, which marks the firm’s seventh loan closing this year, bolsters RMRM’s investment portfolio to more than $300 million of committed capital.