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Seven Hills Realty Trust closed a $31.2 million first mortgage floating rate bridge loan for the acquisition of The Lodge, a 696-bed (258-unit) student housing property located near the 40,000 student Texas State University in San Marcos, Texas. Palladius Capital is the developer/sponsor.

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 Walker & Dunlop, who advised Palladius.