REBusinessOnline

Tremont Mortgage Trust Provides $50M Acquisition Loan for Dallas Office Building

DALLAS — Metro Boston-based Tremont Mortgage Trust (NASDAQ: TRMT) has provided a $50 million first mortgage bridge loan for the acquisition of 10000 NCX, a 15-story, 296,000-square-foot office building located at 10000 North Central Expressway in Dallas. Colliers International arranged the loan on behalf of the sponsor, Charter Holdings. The loan was structured with a three-year initial term and two one-year extension options that are subject to the borrower meeting certain conditions. According to its property page, 10000 NCX was built in 1986 and was 80 percent leased at the time of sale. The building also offers amenities such as a fitness center, deli, break room and onsite storage space. The seller was Dallas-based Westdale Real Estate.

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