Seven Hills Realty Trust (RMRM)

NEWTON, Mass.--(BUSINESS WIRE)--Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $21.0 million first mortgage floating-rate bridge loan to finance the acquisition of Bellevue Terrace, a 72,000 square foot multi-tenant office property located at 3633 136th Place SE in Bellevue, Washington. An initial advance of approximately $20.0 million was funded at closing with future advances of up to $1.0 million available for tenant improvements and leasing commissions. The loan is structured with a three-year initial term and two one-year extension options, subject to the borrower meeting certain requirements. SEVN’s manager, Tremont Realty Capital, was introduced to the transaction by JS Coats Capital, which advised the sponsor, SMARTCAP. Tom Lorenzini, President of SEVN, made the following statement: “The closing of the Bellevue Terrace loan demonstrates the ongoing growth of SEVN’s portfolio as we fund additional investments and provide capital to well-established institutional sponsors of middle market commercial real estate. This first mortgage loan is secured by a well leased and recently renovated office property with easy access to both downtown Seattle and Bellevue’s central business district. We continue to evaluate a robust pipeline of potential transactions as we seek to further scale and diversify SEVN’s loan book in the near term.” Seven Hills Realty Trust (Nasdaq: SEVN) 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 Tremont Realty Capital, a wholly owned subsidiary of The RMR Group LLC. The RMR Group LLC is an alternative asset management company, majority owned by The RMR Group Inc. (Nasdaq: RMR), with over $32 billion in assets under management and 35 years of institutional experience in buying, selling, financing and operating commercial real estate. For more information about SEVN, please visit www.sevnreit.com. Tremont Realty Capital is a direct lender that originates and invests in loans secured by middle market and transitional commercial real estate. For more information about Tremont Realty Capital please visit www.tremontcapital.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 SEVN uses words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “will,” “may” and negatives or derivatives of these or similar expressions, SEVN is making forward-looking statements. These forward-looking statements are based upon SEVN’s 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 SEVN’s 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 SEVN’s control. For example: This press release references recent loans closed and future plans to scale and diversify SEVN, which may imply that SEVN will close additional loans and that its business will continue to improve as a result. However, SEVN’s business and ability to execute loans and realize its investment objective are subject to various risks, including the competitive nature of the industry in which it operates, as well as other factors, many of which are outside its control, such as the current COVID-19 pandemic. These risks and other factors may prevent SEVN from successfully closing additional loans, executing its new business and realizing its investment objective. Further, once SEVN invests or commits its remaining capital, its ability to continue to grow and fund loans will be subject to its ability to obtain additional cost-effective capital or its redeploying proceeds from repayments of its loan investments. The information contained in SEVN’s filings with the Securities and Exchange Commission, or SEC, including under “Risk Factors” 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.

NEWTON, Mass.--(BUSINESS WIRE)--RMR Mortgage Trust (Nasdaq:RMRM) today announced the closing of a $16.5 million first mortgage floating-rate bridge loan to finance the acquisition of City Center Crossing, a grocery anchored retail center located at 6331 Roswell Road in the Sandy Springs submarket of Atlanta, Georgia. An initial advance of $14.8 million was funded at closing with future advances of approximately $1.7 million available for tenant improvements and leasing commissions. The loan is structured with a three-year initial term and two one-year extension options, subject to the borrower meeting certain requirements. RMRM’s manager, Tremont Realty Capital, was introduced to the transaction by the sponsor, First National Realty Partners. Tom Lorenzini, President of RMRM, made the following statement: “The closing of this City Center Crossing loan further diversifies RMRM’s investment portfolio and continues its growth. This loan is secured by a Lidl anchored grocery center located in a rapidly growing submarket in Atlanta. This is our eighth loan closing this year and increases our investment portfolio to more than $325 million of committed capital. We are well positioned for continued portfolio growth with a healthy pipeline of attractive investment opportunities.” 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. RMRM 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 RMRM, please visit www.rmrmortgagetrust.com. Tremont Realty Capital, on behalf of its capital sources, Tremont Mortgage Trust (Nasdaq:TRMT) and RMR Mortgage Trust (Nasdaq:RMRM), is a direct lender that invests in loans secured by middle market and transitional commercial real estate. Tremont Realty Capital is the trade name of Tremont Realty Advisors LLC, which is an affiliate of The RMR Group (Nasdaq:RMR). For more information about Tremont Realty Capital please visit www.tremontcapital.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 RMRM uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, RMRM is making forward-looking statements. These forward-looking statements are based upon RMRM’s 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 RMRM’s 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 RMRM’s control. For example: This press release references recent loans closed and future plans to drive further growth at RMRM, which may imply that RMRM will close additional loans and that its business will continue to improve as a result. However, RMRM’s business and ability to execute loans and realize its investment objective are subject to various risks, including the competitive nature of the industry in which it operates, as well as other factors, many of which are outside its control, such as the current COVID-19 pandemic. These risks and other factors may prevent RMRM from successfully closing additional loans, executing its new business and realizing its investment objective. Further, once RMRM invests or commits its remaining capital, its ability to continue to grow and fund loans will be subject to its ability to obtain additional cost-effective capital or its redeploying proceeds from repayments of its loan investments. The information contained in RMRM’s filings with the Securities and Exchange Commission, or SEC, including under “Risk Factors” in RMRM’s periodic reports or incorporated therein, identifies other important factors that could cause RMRM’s actual results to differ materially from those stated in or implied by RMRM’s forward looking statements. RMRM’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, RMRM does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise. A Maryland Statutory Trust with transferable shares of beneficial interest listed on the Nasdaq. No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

NEWTON, Mass.--(BUSINESS WIRE)--RMR Mortgage Trust (Nasdaq: RMRM) announced the results of its special meeting of shareholders held on Friday, September 17, 2021, as follows. Shareholders approved the issuance of RMRM common shares in the merger with Tremont Mortgage Trust (Nasdaq: TRMT), with 92.3% of the shares that voted voting in favor. RMRM expects the merger to become effective on September 30, 2021, subject to the satisfaction or waiver of the closing conditions specified in the Agreement and Plan of Merger between RMRM and TRMT, dated April 26, 2021. As part of the merger, the combined company will change its name to Seven Hills Realty Capital and will trade on the Nasdaq under the ticker “SHRC”. The merger is expected to create a more diversified commercial mortgage real estate investment trust, or REIT, focused on middle market transitional bridge loans with assets expected to approach $1 billion when fully invested. With increased scale and an expanded capital base, the combined company is expected to be better positioned to access capital markets, increase operating efficiency, and deliver more attractive risk-adjusted returns for shareholders. 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. RMRM 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 RMRM, please visit www.rmrmortgagetrust.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 RMRM uses words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “will,” “may” and negatives or derivatives of these or similar expressions, RMRM is making forward-looking statements. These forward-looking statements are based upon RMRM’s 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 RMRM’s 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 RMRM’s control. For example: The closing of the merger is subject to the satisfaction or waiver of certain conditions. RMRM and TRMT cannot be sure that all the conditions will be satisfied or waived. Accordingly, the merger may not close when expected or at all. RMRM and TRMT expect to realize a number of benefits from the merger, including increased scale and an expanded capital base, improved access to capital markets, increased operating efficiency, and the ability to deliver more attractive risk-adjusted returns for shareholders. These expectations may not be realized as currently expected or at all. The information contained in RMRM’s filings with the Securities and Exchange Commission, or SEC, including under “Risk Factors” in RMRM’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 RMRM’s periodic reports or incorporated therein, identifies other important factors that could cause RMRM’s actual results to differ materially from those stated in or implied by RMRM’s forward-looking statements. RMRM’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, RMRM does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise. Additional Information about the Merger In connection with the merger, RMRM has filed with the SEC a Registration Statement on Form S-4 containing a definitive joint proxy statement/prospectus and other documents with respect to the merger, which was declared effective by the SEC on July 26, 2021. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. SHAREHOLDERS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND ANY OTHER DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE MERGER OR INCORPORATED BY REFERENCE IN THE JOINT PROXY STATEMENT/PROSPECTUS BECAUSE THEY CONTAIN AND WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER. The definitive joint proxy statement/prospectus has been mailed to RMRM’s and TRMT’s shareholders. Shareholders may obtain free copies of the Registration Statement on Form S-4, the definitive joint proxy statement/prospectus and any other relevant documents filed or to be filed with the SEC at the SEC’s website at www.sec.gov. In addition, shareholders may obtain free copies of RMRM’s filings with the SEC from RMRM’s website at www.rmrmortgagetrust.com or TRMT’s filings with the SEC from TRMT’s website at www.trmtreit.com.

NEWTON, Mass.--(BUSINESS WIRE)--RMR Mortgage Trust (Nasdaq: RMRM) announced the results of its special meeting of shareholders held on Friday, September 17, 2021, as follows. Shareholders approved the issuance of RMRM common shares in the merger with Tremont Mortgage Trust (Nasdaq: TRMT), with 92.3% of the shares that voted voting in favor. RMRM expects the merger to become effective on September 30, 2021, subject to the satisfaction or waiver of the closing conditions specified in the Agreemen

NEWTON, Mass.--(BUSINESS WIRE)--RMR Mortgage Trust (Nasdaq: RMRM) today announced that, on September 10, 2021, three proxy advisory firms that advise institutional investors, Institutional Shareholder Services Inc., or ISS, Glass Lewis & Co., LLC, or Glass Lewis, and Egan-Jones Proxy Services, or Egan-Jones, have all recommended that clients of RMRM vote “FOR” the issuance of shares, or the RMRM Share Issuance Proposal, in connection with the previously-announced merger of RMR Mortgage Trust and Tremont Mortgage Trust (Nasdaq: TRMT) at the special meeting of shareholders of RMRM to be held on September 17, 2021 at 10:00 a.m. Eastern Time. In recommending that RMRM shareholders vote “FOR” the RMRM Share Issuance Proposal, the proxy advisory firms endorsed the strategic, corporate governance and financial merits of the merger. In separate reports, ISS, Glass Lewis and Egan-Jones also recommended that TRMT shareholders vote “FOR” the merger. YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAY The special meeting of shareholders of RMRM is scheduled for September 17, 2021 at 10:00 a.m. Eastern Time. Shareholders who have not yet voted are encouraged to vote their shares promptly without further delay and without waiting until the final moments of the solicitation in order to ensure all votes are counted in advance of the special meeting. Internet and telephone voting options are available by following the instructions on the proxy cards or voting instruction forms previously sent to shareholders of record as of July 17, 2021. If shareholders have questions or require assistance voting their shares, they should contact D.F. King & Co., Inc. at (800) 761-6521 or via email at RMRM@dfking.com. Banks and brokers may call (212) 269-5550 for assistance. 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. RMRM 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 RMRM, please visit www.rmrmortgagetrust.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 RMRM uses words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “will,” “may” and negatives or derivatives of these or similar expressions, RMRM is making forward-looking statements. These forward-looking statements are based upon RMRM’s 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 RMRM’s 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 RMRM’s control. For example: The closing of the merger is subject to the satisfaction or waiver of certain conditions. RMRM and TRMT cannot be sure that all the conditions will be satisfied or waived. Accordingly, the merger may not close when expected or at all, or the terms of the merger and the other transactions may change. RMRM and TRMT have identified various reasons why they believe the merger makes sense for their shareholders. However, the expected benefits underlying those reasons may not be realized or sustained by the combined company and its shareholders. The information contained in RMRM’s filings with the Securities and Exchange Commission, or SEC, including under “Risk Factors” in RMRM’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 RMRM’s and TRMT’s periodic reports or incorporated therein, identifies other important factors that could cause RMRM’s actual results to differ materially from those stated in or implied by RMRM’s forward-looking statements. RMRM’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, RMRM does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise. Additional Information about the Merger In connection with the merger, RMRM has filed with the SEC a Registration Statement on Form S-4 containing a definitive joint proxy statement/prospectus and other documents with respect to the merger, which was declared effective by the SEC on July 26, 2021. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. SHAREHOLDERS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND ANY OTHER DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE MERGER OR INCORPORATED BY REFERENCE IN THE JOINT PROXY STATEMENT/PROSPECTUS BECAUSE THEY CONTAIN AND WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER. The definitive joint proxy statement/prospectus has been mailed to RMRM’s and TRMT’s shareholders. Shareholders may obtain free copies of the Registration Statement on Form S-4, the definitive joint proxy statement/prospectus and any other relevant documents filed or to be filed with the SEC at the SEC’s website at www.sec.gov. In addition, shareholders may obtain free copies of RMRM’s filings with the SEC from RMRM’s website at www.rmrmortgagetrust.com or TRMT’s filings with the SEC from TRMT’s website at www.trmtreit.com. Participants in Solicitation Relating to the Merger RMRM, TRMT and their respective trustees and executive officers, and Tremont Realty Advisors LLC, The RMR Group LLC, The RMR Group Inc. and certain of their respective directors, officers and employees, may be deemed to be participants in the solicitation of proxies from RMRM and TRMT shareholders in respect of the Merger and the other transactions contemplated by the Agreement and Plan of Merger between TRMT and RMRM, or the Merger Agreement. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of RMRM’s and TRMT’s shareholders in connection with the merger and the other transactions contemplated by the Merger Agreement is set forth in the definitive joint proxy statement/prospectus. Information regarding RMRM’s trustees and executive officers and TRMT’s trustees and executive officers can be found in RMRM’s and TRMT’s respective definitive proxy statement for its 2021 annual meeting of shareholders. These documents are available free of charge on the SEC’s website and from RMRM or TRMT, as applicable, using the sources indicated above. A Maryland Statutory Trust with transferable shares of beneficial interest listed on the Nasdaq. No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

NEWTON, Mass.--(BUSINESS WIRE)--RMR Mortgage Trust (Nasdaq: RMRM) today announced that it has declared a cash distribution to its shareholders of $0.15 per RMRM common share in lieu of its regular quarterly distribution to RMRM common shareholders for the quarter ending September 30, 2021, and in anticipation of the closing of the previously announced merger, or Merger, with Tremont Mortgage Trust (Nasdaq: TRMT). RMRM’s distribution will be paid to its common shareholders of record as of the close of business on September 7, 2021, on or about September 29, 2021. TRMT also announced today that it has declared a final cash distribution to its shareholders of $0.17 per TRMT common share that will be paid to its shareholders of record as of the close of business on September 7, 2021, on or about September 29, 2021, in order to satisfy its distribution requirements as a real estate investment trust and to avoid the payment of entity level income and excise tax. RMRM expects that it will resume its regular schedule of quarterly distributions in February 2022. In connection with these distributions and pursuant to the Agreement and Plan of Merger, dated as of April 26, 2021, or the Merger Agreement, RMRM and TRMT have adjusted the merger exchange ratio from 0.52 of one (1) RMRM common share for each issued and outstanding TRMT common share, to 0.516 of one (1) RMRM common share for each issued and outstanding TRMT common share. The merger is expected to close on September 30, 2021, following payment of the RMRM and TRMT distributions, subject to the satisfaction or waiver of the closing conditions specified in the Merger Agreement, including the receipt of the requisite approvals by RMRM’s and TRMT’s shareholders. RMRM is a real estate finance company that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate. RMRM 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 RMRM, please visit www.rmrmortgagetrust.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. These forward looking statements are based upon RMRM’s present beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and may not occur for various reasons, some of which are beyond RMRM’s control. For example: This press release states that RMRM’s distribution will be $0.15 per common share and that RMRM expects that it will resume its regular schedule of quarterly distributions in February 2022. A possible implication of these statements is that RMRM will continuously pay quarterly distributions of $0.15 per share in the future. The RMRM Board of Trustees considers many factors when determining whether to declare distributions, including RMRM’s historical and projected income, distributable earnings, the then current and expected needs and availability of cash to pay RMRM's obligations and fund its investments, distributions which may be required to be paid by RMRM to qualify for taxation as a real estate investment trust and other factors deemed relevant by RMRM's Board of Trustees in its discretion. Accordingly, future distributions may be increased or decreased and there is no assurance as to the rate at which future distributions will be paid, and they could decline in amount or be suspended or discontinued. This press release states that the Merger is expected to close on September 30, 2021, subject to the satisfaction or waiver of closing conditions, including the receipt of the requisite approvals by RMRM’s and TRMT’s shareholders, and RMRM and TRMT cannot be sure that these conditions will be satisfied or waived. Accordingly, the Merger may not close by September 30, 2021 or at all, or the terms contemplated by the Merger Agreement may change. The information contained in RMRM’s filings with the Securities and Exchange Commission, or the SEC, including under “Risk Factors” in RMRM’s periodic reports or incorporated therein, identifies other important factors that could cause RMRM’s actual results to differ materially from those stated in or implied by RMRM’s forward looking statements. RMRM’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, RMRM does not intend to update or change any forward looking statements as a result of new information, future events or otherwise. Additional Information about the Merger In connection with the Merger, RMRM has filed with the SEC a Registration Statement on Form S-4 containing a definitive joint proxy statement/prospectus and other documents with respect to the Merger, which was declared effective by the SEC on July 26, 2021. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. SHAREHOLDERS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND ANY OTHER DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE MERGER OR INCORPORATED BY REFERENCE IN THE JOINT PROXY STATEMENT/PROSPECTUS BECAUSE THEY CONTAIN AND WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER. The definitive joint proxy statement/prospectus has been mailed to RMRM’s and TRMT’s shareholders. Shareholders may obtain free copies of the Registration Statement on Form S-4, the definitive joint proxy statement/prospectus and any other relevant documents filed or to be filed with the SEC at the SEC’s website at www.sec.gov. In addition, shareholders may obtain free copies of RMRM’s filings with the SEC from RMRM’s website at www.rmrmortgagetrust.com or TRMT’s filings with the SEC from TRMT’s website at www.trmtreit.com. Participants in Solicitation Relating to the Merger RMRM, TRMT and their respective trustees and executive officers, and Tremont Realty Advisors LLC, The RMR Group LLC, The RMR Group Inc. and certain of their respective directors, officers and employees, may be deemed to be participants in the solicitation of proxies from RMRM and TRMT shareholders in respect of the Merger and the other transactions contemplated by the Merger Agreement. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of RMRM’s and TRMT’s shareholders in connection with the Merger and the other transactions contemplated by the Merger Agreement is set forth in the definitive joint proxy statement/prospectus. Information regarding RMRM’s trustees and executive officers and TRMT’s trustees and executive officers can be found in RMRM’s and TRMT’s respective definitive proxy statement for its 2021 Annual Meeting of Shareholders. These documents are available free of charge on the SEC’s website and from RMRM or TRMT, as applicable, using the sources indicated above.

NEWTON, Mass.--(BUSINESS WIRE)--Tremont Mortgage Trust (Nasdaq: TRMT) today announced that it has declared a final cash distribution to its shareholders of $0.17 per TRMT common share in order to satisfy its distribution requirements as a real estate investment trust, or REIT, and in order to avoid income and excise taxation as a REIT prior to the closing of its previously announced merger with RMR Mortgage Trust (Nasdaq: RMRM), in accordance with the Agreement and Plan of Merger, dated as of A

NEWTON, Mass.--(BUSINESS WIRE)--RMR Mortgage Trust (Nasdaq: RMRM) today announced that it has declared a cash distribution to its shareholders of $0.15 per RMRM common share in lieu of its regular quarterly distribution to RMRM common shareholders for the quarter ending September 30, 2021, and in anticipation of the closing of the previously announced merger, or Merger, with Tremont Mortgage Trust (Nasdaq: TRMT). RMRM's distribution will be paid to its common shareholders of record as of the cl

NEWTON, Mass.--(BUSINESS WIRE)--RMR Mortgage Trust (Nasdaq: RMRM) today announced the closing of a $12.5 million first mortgage floating-rate bridge loan to finance the acquisition of 80 Main, a Class A, 45-unit apartment building located at 80 S. Main St. in Seattle, Washington. The loan is structured with a three-year initial term and two one-year extension options, subject to the borrower meeting certain requirements. RMRM’s manager, Tremont Realty Capital, was introduced to the transaction by IPA Capital Markets, a Marcus & Millichap Company, which advised the sponsor, Unico Properties. Tom Lorenzini, President of RMRM, made the following statement: “We continue to build momentum executing on RMRM’s new business plan focused on investing capital in first mortgage loans secured by middle market and transitional commercial real estate. This loan is secured by a centrally located Class A multifamily property in the vibrant Pioneer Square neighborhood of downtown Seattle. It marks our seventh loan closing this year and increases our investment portfolio to more than $300 million of committed capital. Our investment pipeline remains active and we are well positioned to drive further growth at RMRM during the second half of 2021 and beyond.” 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. RMRM 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 RMRM, please visit www.rmrmortgagetrust.com. Tremont Realty Capital, on behalf of its capital sources, Tremont Mortgage Trust (Nasdaq: TRMT) and RMR Mortgage Trust (Nasdaq: RMRM), is a direct lender that invests in loans secured by middle market and transitional commercial real estate. Tremont Realty Capital is the trade name of Tremont Realty Advisors LLC, which is an affiliate of The RMR Group (Nasdaq: RMR). For more information about Tremont Realty Capital please visit www.tremontcapital.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 RMRM uses words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “will,” “may” and negatives or derivatives of these or similar expressions, RMRM is making forward-looking statements. These forward-looking statements are based upon RMRM’s 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 RMRM’s 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 RMRM’s control. For example: This press release references recent loans closed and future plans to drive further growth at RMRM during the second half of 2021 and beyond, which may imply that RMRM will close additional loans and that its business will continue to improve as a result. However, RMRM’s business and ability to execute loans and realize its investment objective are subject to various risks, including the competitive nature of the industry in which it operates, as well as other factors, many of which are outside its control, such as the current COVID-19 pandemic. These risks and other factors may prevent RMRM from successfully closing additional loans, executing its new business and realizing its investment objective. Further, once RMRM invests or commits its remaining capital, its ability to continue to grow and fund loans will be subject to its ability to obtain additional cost-effective capital or its redeploying proceeds from repayments of its loan investments. The information contained in RMRM’s filings with the Securities and Exchange Commission, or SEC, including under “Risk Factors” in RMRM’s periodic reports or incorporated therein, identifies other important factors that could cause RMRM’s actual results to differ materially from those stated in or implied by RMRM’s forward-looking statements. RMRM’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, RMRM does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise. A Maryland Statuatory Trust with transferrable shares of beneficial interest listed on the Nasdaq. No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

NEWTON, Mass.--(BUSINESS WIRE)--RMR Mortgage Trust (Nasdaq: RMRM) today announced the closing of a $12.5 million first mortgage floating-rate bridge loan to finance the acquisition of 80 Main, a Class A, 45-unit apartment building located at 80 S. Main St. in Seattle, Washington. The loan is structured with a three-year initial term and two one-year extension options, subject to the borrower meeting certain requirements. RMRM's manager, Tremont Realty Capital, was introduced to the transaction

RMR Mortgage Trust (RMRM) on Q2 2021 Results - Earnings Call Transcript

NEWTON, Mass.--(BUSINESS WIRE)--RMR Mortgage Trust (Nasdaq: RMRM) today announced financial results for the quarter and six months ended June 30, 2021. Tom Lorenzini, President of RMRM, made the following statement: "We continue to build momentum executing on RMR Mortgage Trust’s new business plan focused on investing capital in first mortgage loans secured by middle market and transitional commercial real estate. During the second quarter, we closed two new loans totaling $73.5 million in commitments, utilized leverage to enhance portfolio returns and realized meaningful growth in investment income and distributable earnings on a sequential quarter basis. Our momentum continued subsequent to quarter end with the closing of two additional loans, which expanded RMRM’s diversified portfolio to nearly $300 million of committed capital. Our deal pipeline remains active with more than $600 million in potential transactions, putting us on a solid path to fully investing our capital. We remain on track to complete our merger with Tremont Mortgage Trust during the third quarter of 2021.” Quarterly Results Three Months Ended (dollars in thousands, except per share data) June 30, 2021 March 31, 2021 Change Net income $1,160 $350 231.4% Net income per common share $0.11 $0.03 266.7% Distributable Earnings $1,342 $350 283.4% Distributable Earnings per share $0.13 $0.03 333.3% Income from investments, net $2,863 $2,001 43.1% Book value per share $18.90 $18.94 (0.2%) Additional information and a reconciliation of net income determined in accordance with U.S. generally accepted accounting principles, or GAAP, to Distributable Earnings for the quarter and six months ended June 30, 2021 appears later in this press release. Portfolio Summary and Recent Investment Activities (dollars in thousands) June 30, 2021 March 31, 2021 December 31, 2020 Number of loans 9 7 5 Total loan commitments $250,710 $177,195 $111,720 Weighted average maximum maturity (years) 4.2 4.3 4.2 Weighted average coupon rate 4.98% 4.99% 5.08% Weighted average all in yield 5.62% 5.65% 5.71% Weighted average LIBOR floor 0.76% 0.77% 0.78% Weighted average risk rating 2.9 3.0 3.0 Weighted average loan to value 68% 67% 68% RMRM committed capital and funded the following first mortgage loans during the three months ended June 30, 2021: Location Property Type Origination Date Committed Principal Balance Principal Balance as of June 30, 2021 Coupon Rate All in Yield Maximum Maturity (date) LTV (dollars in thousands) Colorado Springs, CO Office / Industrial 04/06/21 $ 34,275 $ 29,215 L + 4.50% L + 5.04% 04/06/2025 73 % Londonderry, NH Industrial 04/06/21 39,240 34,251 L + 4.00% L + 4.62% 04/06/2026 73 % Total/weighted average $ 73,515 $ 63,466 L + 4.23% L + 4.81% 73 % In July 2021, RMRM originated a first mortgage loan of $27.4 million that was used to refinance a multi-tenant office building located in Plano, TX. This loan requires the borrower to pay interest at the floating rate of LIBOR plus a premium of 475 basis points per annum. This floating rate loan includes an initial funding of $24.6 million and a future funding allowance of $2.8 million for tenant improvements, leasing commissions and capital expenditures and has a three-year initial term with two, one-year extension options, subject to the borrower meeting certain conditions. Also in July 2021, RMRM originated a first mortgage loan of $19.7 million that was used to finance the acquisition of a 100-unit apartment building located in Portland, OR. This loan requires the borrower to pay interest at the floating rate of LIBOR plus a premium of 357 basis points per annum. This floating rate loan was fully funded at closing and has a three-year initial term with two, one-year extension options, subject to the borrower meeting certain conditions. Merger with Tremont Mortgage Trust As previously announced, RMRM and Tremont Mortgage Trust (Nasdaq: TRMT) entered into a definitive agreement and plan of merger, dated April 26, 2021, or the Merger Agreement, pursuant to which TRMT will merge with and into RMRM, with RMRM continuing as the surviving company, or the Merger. Pursuant to the terms of the Merger Agreement, TRMT’s shareholders will receive 0.52 of one newly issued common share of RMRM for each common share of TRMT they hold, with cash paid in lieu of fractional shares. Completion of the Merger will require certain approvals of RMRM’s and TRMT's shareholders and the satisfaction or waiver of other conditions. The record date for determining the shareholders entitled to receive notice of, and to vote at, the RMRM and TRMT special meetings of shareholders is July 14, 2021. The special meetings of shareholders of RMRM and TRMT are scheduled to be held on September 17, 2021 and, pending the requisite approval by RMRM and TRMT shareholders, the Merger is expected to close during the third quarter of 2021. Recent Financing Activities During the quarter ended June 30, 2021, UBS AG advanced approximately $49.2 million to RMRM under its master repurchase facility. As of June 30, 2021 and July 30, 2021, RMRM had a $49.2 million and $69.2 million, respectively, in aggregate outstanding principal balance under its master repurchase facility. As of June 30, 2021, RMRM was in compliance with all covenants and other terms under its master repurchase facility. Distributions On May 20, 2021, RMRM paid a quarterly distribution to common shareholders of record as of April 26, 2021 of $0.15 per common share, or approximately $1.5 million in aggregate. On July 15, 2021, RMRM declared a quarterly distribution of $0.15 per common share for the second quarter of 2021, or approximately $1.5 million in aggregate, to shareholders of record on July 26, 2021. RMRM expects to pay this distribution on or about August 19, 2021. Conference Call At 10:00 a.m. Eastern Time on Wednesday, August 4, 2021, President, Tom Lorenzini, and Chief Financial Officer and Treasurer, Doug Lanois, will host a conference call to discuss RMRM’s second quarter 2021 financial results. The conference call telephone number is (877) 270-2148. Participants calling from outside the United States and Canada should dial (412) 902-6510. No pass code is necessary to access the call from either number. Participants should dial in about 15 minutes prior to the scheduled start of the call. A replay of the conference call will be available through 11:59 p.m. on Wednesday, August 11, 2021. To access the replay, dial (412) 317-0088. The replay pass code is 10157618. A live audio webcast of the conference call will also be available in a listen-only mode on RMRM’s website, which is located at www.rmrmortgagetrust.com. Participants wanting to access the webcast should visit RMRM’s website about five minutes before the call. The archived webcast will be available for replay on RMRM’s website after the call. The transcription, recording and retransmission in any way of RMRM’s second quarter conference call are strictly prohibited without the prior written consent of RMRM. Supplemental Data A copy of RMRM’s Second Quarter 2021 Supplemental Operating and Financial Data is available for download at RMRM’s website, www.rmrmortgagetrust.com. RMRM’s website is not incorporated as part of this press release. About RMR Mortgage Trust RMRM is a real estate finance company that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate. RMRM 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 RMRM, please visit www.rmrmortgagetrust.com. Non-GAAP Financial Measures RMRM presents Distributable Earnings, which is considered a “non-GAAP financial measure” within the meaning of the applicable rules of the Securities and Exchange Commission, or SEC. Distributable Earnings does not represent net income or cash generated from operating activities and should not be considered as an alternative to net income determined in accordance with GAAP or an indication of RMRM’s cash flows from operations determined in accordance with GAAP, a measure of RMRM’s liquidity or operating performance or an indication of funds available for RMRM’s cash needs. In addition, RMRM’s methodology for calculating Distributable Earnings may differ from the methodologies employed by other companies to calculate the same or similar supplemental performance measures; therefore, RMRM’s reported Distributable Earnings may not be comparable to the distributable earnings as reported by other companies. RMRM calculates Distributable Earnings as net income, computed in accordance with GAAP, including realized losses not otherwise included in net income determined in accordance with GAAP, and excluding: (a) the management incentive fees earned by RMRM’s manager, if any; (b) depreciation and amortization, if any; (c) non-cash equity compensation expense; (d) unrealized gains, losses and other similar non-cash items that are included in net income for the period of the calculation (regardless of whether such items are included in or deducted from net income or in other comprehensive income under GAAP), if any; and (e) one-time events pursuant to changes in GAAP and certain non-cash items, if any. Distributable Earnings are reduced for realized losses on loan investments when amounts are deemed uncollectable. RMRM intends to elect to be taxed as a REIT under the Internal Revenue Code of 1986, as amended, effective for its 2020 taxable year. In order to qualify for taxation as a REIT, RMRM is generally required to distribute substantially all of its taxable income, subject to certain adjustments, to its shareholders. RMRM believes that one of the factors that investors consider important in deciding whether to buy or sell securities of a REIT is its distribution rate. Over time, Distributable Earnings may be a useful indicator of distributions to RMRM's shareholders and is a measure that is considered by RMRM's Board of Trustees when determining the amount of such distributions. RMRM believes that Distributable Earnings provides meaningful information to consider in addition to net income and cash flows from operating activities determined in accordance with GAAP. This measure helps RMRM to evaluate its performance excluding the effects of certain transactions, the variability of any management incentive fees that may be paid or payable and GAAP adjustments that RMRM believes are not necessarily indicative of RMRM’s current loan portfolio and operations. In addition, Distributable Earnings is used in determining the amount of base management and management incentive fees payable by RMRM to RMRM’s manager under RMRM’s management agreement. Please see the pages attached hereto for a more detailed statement of RMRM’s operating results and financial condition and for an explanation of RMRM's calculation of Distributable Earnings and a reconciliation of net income determined in accordance with GAAP to that amount. RMR MORTGAGE TRUST CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (amounts in thousands, except per share data) (unaudited) Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 INCOME FROM INVESTMENTS: Interest income from investments $ 3,055 $ 5,056 Less: interest and related expenses (192 ) (192 ) Income from investments, net 2,863 4,864 OTHER EXPENSES: Base management fees 721 1,436 General and administrative expenses 714 1,306 Reimbursement of shared services expenses 275 601 Total expenses 1,710 3,343 Income before income tax benefit (expense) 1,153 1,521 Income tax benefit (expense) 7 (11 ) Net income $ 1,160 $ 1,510 Weighted average common shares outstanding 10,208 10,205 Net income per common share $ 0.11 $ 0.15 RMR MORTGAGE TRUST CALCULATION AND RECONCILIATION OF NET INCOME TO DISTRIBUTABLE EARNINGS (amounts in thousands, except per share data) (unaudited) Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 Reconciliation of net income to Distributable Earnings: Net income $ 1,160 $ 1,510 Non-cash equity compensation expense 182 182 Distributable Earnings $ 1,342 $ 1,692 Weighted average common shares outstanding 10,208 10,205 Distributable Earnings per common share $ 0.13 $ 0.17 RMR MORTGAGE TRUST CONDENSED CONSOLIDATED BALANCE SHEET (dollars in thousands, except per share data) (unaudited) June 30, 2021 ASSETS Cash and cash equivalents $ 30,402 Restricted cash 205 Loans held for investment, net 210,742 Accrued interest receivable 620 Prepaid expenses and other assets 2,505 Total assets $ 244,474 LIABILITIES AND SHAREHOLDERS' EQUITY Accounts payable, accrued liabilities and deposits $ 1,638 Master repurchase facility, net 48,775 Due to related persons 1,006 Total liabilities 51,419 Commitments and contingencies Shareholders' equity: Common shares of beneficial interest, $0.001 par value per share; unlimited number of shares authorized; 10,217,009 shares issued and outstanding 10 Additional paid in capital 193,065 Cumulative net income 1,510 Cumulative distributions (1,530 ) Total shareholders' equity 193,055 Total liabilities and shareholders' equity $ 244,474 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 RMRM uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, RMRM is making forward-looking statements. These forward-looking statements are based upon RMRM’s 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 RMRM’s forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond RMRM’s control. For example: Mr. Lorenzini states that RMRM continues to build momentum executing on its new business plan focused on investing capital in first mortgage loans secured by middle market and transitional real estate. Additionally, this press release references recent loans closed, and Mr. Lorenzini makes note of an active deal pipeline. These statements may imply that RMRM will close additional loans, that it will achieve its business plan objectives and that its business will continue to improve as a result. However, RMRM’s business and ability to execute loans and realize its business plan objectives are subject to various risks, including the competitive nature of the industry in which it operates, as well as other factors, many of which are outside its control, such as the current COVID-19 pandemic. These risks and other factors may prevent RMRM from successfully closing additional loans, executing its new business plan and realizing its business plan objectives. Further, once RMRM invests or commits its remaining capital, its ability to continue to grow and fund loans will be subject to its ability to obtain additional cost-effective capital or its redeploying proceeds from repayments of its loan investments. Mr. Lorenzini states that RMRM remains on track to merge with TRMT during the third quarter of 2021. However, the closing of the Merger is subject to the satisfaction or waiver of conditions, including the receipt of requisite approvals by RMRM’s and TRMT’s shareholders, and RMRM cannot be sure that any or all of those conditions will be satisfied or waived. Accordingly, the Merger may not close when expected, or at all. The Merger requires the approval of TRMT’s shareholders and the issuance of RMRM common shares in the Merger requires the approval of RMRM’s shareholders. Such approvals are being solicited by a definitive joint proxy statement/prospectus that is included as part of a registration statement on Form S-4, as amended, or the Form S-4, that RMRM filed with the SEC. The information contained in RMRM's filings with the SEC, including under "Risk Factors" in RMRM's periodic reports, or incorporated therein, identifies other important factors that could cause RMRM’s actual results to differ materially from those stated in or implied by RMRM’s forward looking statements. RMRM’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, RMRM does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise. Additional Information about the Merger In connection with the Merger, RMRM has filed with the SEC a Registration Statement on Form S-4 containing a definitive joint proxy statement/prospectus and other documents with respect to the Merger, which was declared effective by the SEC on July 26, 2021. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. SHAREHOLDERS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND ANY OTHER DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE MERGER OR INCORPORATED BY REFERENCE IN THE JOINT PROXY STATEMENT/PROSPECTUS BECAUSE THEY CONTAIN AND WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER. The definitive joint proxy statement/prospectus has been mailed to RMRM's and TRMT's shareholders. Shareholders may obtain free copies of the Registration Statement on Form S-4, the definitive joint proxy statement/prospectus and any other relevant documents filed or to be filed with the SEC at the SEC’s website at www.sec.gov. In addition, shareholders may obtain free copies of RMRM’s filings with the SEC from RMRM's website at www.rmrmortgagetrust.com or TRMT's filings from TRMT's website at www.trmtreit.com. Participants in Solicitation Relating to the Merger RMRM, TRMT and their respective trustees and executive officers, and Tremont Realty Advisors LLC, The RMR Group LLC, The RMR Group Inc. and certain of their respective directors, officers and employees may be deemed to be participants in the solicitation of proxies from RMRM and TRMT shareholders in respect of the Merger and the other transactions contemplated by the Merger Agreement. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of RMRM’s and TRMT’s shareholders in connection with the Merger and the other transactions contemplated by the Merger Agreement is set forth in the definitive joint proxy statement/prospectus. Information regarding RMRM’s trustees and executive officers and TRMT’s trustees and executive officers can be found in RMRM's and TRMT’s respective definitive proxy statement for its 2021 Annual Meeting of Shareholders. These documents are available free of charge on the SEC's website and from RMRM or TRMT, as applicable, using the sources indicated above.

NEWTON, Mass.--(BUSINESS WIRE)--RMR Mortgage Trust (Nasdaq: RMRM) today announced the closing of a $19.7 million first mortgage floating-rate bridge loan to finance the acquisition of Laurel 42, a 100-unit apartment building located at 4242 NE Halsey Street in Portland, Oregon. The loan is structured with a three-year initial term and two one-year extension options, subject to the borrower meeting certain requirements. RMRM’s manager, Tremont Realty Capital, was introduced to the transaction by IPA Capital Markets, a Marcus & Millichap Company. Tom Lorenzini, President of RMRM, made the following statement: “We are pleased to announce the closing of this first mortgage loan secured by a centrally located Class-A multifamily property in the Hollywood neighborhood of downtown Portland. This loan further diversifies RMRM’s investment portfolio and expands our loan book to nearly $300 million of committed capital. We look forward to continuing the growth of RMRM’s portfolio and generating attractive, risk adjusted returns for our shareholders.” 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. RMRM 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 RMRM, please visit www.rmrmortgagetrust.com. Tremont Realty Capital, on behalf of its capital sources, Tremont Mortgage Trust (Nasdaq: TRMT) and RMR Mortgage Trust (Nasdaq: RMRM), is a direct lender that invests in loans secured by middle market and transitional commercial real estate. Tremont Realty Capital is the trade name of Tremont Realty Advisors LLC, which is an affiliate of The RMR Group (Nasdaq: RMR). For more information about Tremont Realty Capital please visit www.tremontcapital.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 RMRM uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, RMRM is making forward-looking statements. These forward-looking statements are based upon RMRM’s 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 RMRM’s 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 RMRM’s control. For example: This press release references recent loans closed and future plans to expand RMRM’s business as a commercial mortgage REIT and pursue its investment objective, which may imply that RMRM will close additional loans, that it will achieve its investment objective and that its business will continue to improve as a result. However, RMRM’s business and ability to execute loans and realize its investment objective are subject to various risks, including the competitive nature of the industry in which it operates, as well as other factors, many of which are outside its control, such as the current COVID-19 pandemic. These risks and other factors may prevent RMRM from successfully closing additional loans, executing its new business and realizing its investment objective. Further, once RMRM invests or commits its remaining capital, its ability to continue to grow and fund loans will be subject to its ability to obtain additional cost-effective capital or its redeploying proceeds from repayments of its loan investments. The information contained in RMRM’s filings with the Securities and Exchange Commission, or SEC, including under “Risk Factors” in RMRM’s periodic reports or incorporated therein, identifies other important factors that could cause RMRM’s actual results to differ materially from those stated in or implied by RMRM’s forward looking statements. RMRM’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, RMRM does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise. A Maryland Statutory Trust with transferable shares of beneficial interest listed on the Nasdaq. No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

Real estate earnings season kicks off this week. We'll see results from more than 175 equity REITs, 40 mortgage REITs, and dozens of housing industry companies over the next month. REITs enter second-quarter earnings season as the best-performing asset class this year with total returns over 25%. 69 equity REITs and 19 mortgage REITs have raised their dividends this year.

NEWTON, Mass.--(BUSINESS WIRE)--RMR Mortgage Trust (Nasdaq: RMRM), today announced a regular quarterly cash distribution on its common shares of $0.15 per common share ($0.60 per share per year). The distribution declared today will be paid to RMRM’s common shareholders of record as of the close of business on July 26, 2021 and distributed on or about August 19, 2021. RMRM is a real estate finance company that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate. RMRM 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 RMRM, please visit www.rmrmortgagetrust.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. These forward looking statements are based upon RMRM’s present beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and may not occur for various reasons, some of which are beyond RMRM’s control. For example: This press release states that RMRM’s dividend rate will be $0.15 per common share ($0.60 per share per year). A possible implication of this statement is that RMRM will continuously pay quarterly dividends of $0.15 per share ($0.60 per share per year) in the future. The RMRM Board of Trustees considers many factors when determining whether to declare dividends, including RMRM’s historical and projected income, distributable earnings, the then current and expected needs and availability of cash to pay RMRM's obligations and fund its investments, distributions which may be required to be paid by RMRM to qualify for taxation as a real estate investment trust and other factors deemed relevant by RMRM's Board of Trustees in its discretion. Accordingly, future dividends may be increased or decreased and there is no assurance as to the rate at which future dividends will be paid, and they could decline in amount or be suspended or discontinued. The information contained in RMRM’s filings with the Securities and Exchange Commission, or SEC, including under “Risk Factors” in RMRM’s periodic reports or incorporated therein, identifies other important factors that could cause RMRM’s actual results to differ materially from those stated in or implied by RMRM’s forward looking statements. RMRM’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, RMRM does not intend to update or change any forward looking statements as a result of new information, future events or otherwise.

NEWTON, Mass.--(BUSINESS WIRE)--RMR Mortgage Trust (Nasdaq: RMRM) today announced the closing of a $27.4 million first mortgage floating-rate bridge loan to refinance 500 N. Central Expressway in Plano, Texas, a five-story, 237,000 square foot, multi-tenant office property. RMRM’s manager, Tremont Realty Capital, was introduced to the transaction by Jones Lang LaSalle Incorporated, which advised the sponsor, MoxieBridge. An initial advance of approximately $24.6 million was funded at closing with future advances of up to $2.8 million available for tenant improvements, leasing commissions and capital expenditures. The loan is structured with a three-year initial term and two one-year extension options, subject to the borrower meeting certain requirements. Tom Lorenzini, President of RMRM, made the following statement: “We continue to expand and diversify RMRM’s portfolio with the closing of this first mortgage whole loan. This loan fits squarely within our principal investment objective of investing in high quality loans secured by middle market and transitional commercial real estate supported by well capitalized sponsors and cash-flowing properties. RMRM is well positioned for continued portfolio growth with numerous attractive opportunities in our pipeline and ample liquidity available for investment.” 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. RMRM 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 RMRM, please visit www.rmrmortgagetrust.com. Tremont Realty Capital, on behalf of its capital sources, Tremont Mortgage Trust (Nasdaq: TRMT) and RMR Mortgage Trust (Nasdaq: RMRM), is a direct lender that invests in loans secured by middle market and transitional commercial real estate. Tremont Realty Capital is the trade name of Tremont Realty Advisors LLC, which is an affiliate of The RMR Group (Nasdaq: RMR). For more information about Tremont Realty Capital please visit www.tremontcapital.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 RMRM uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, RMRM is making forward-looking statements. These forward-looking statements are based upon RMRM’s 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 RMRM’s 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 RMRM’s control. For example: This press release references recent loans closed and future plans to expand RMRM’s business as a commercial mortgage REIT and pursue its investment objective, which may imply that RMRM will close additional loans, that it will achieve its investment objective and that its business will continue to improve as a result. However, RMRM’s business and ability to execute loans and realize its investment objective are subject to various risks, including the competitive nature of the industry in which it operates, as well as other factors, many of which are outside its control, such as the current COVID-19 pandemic. These risks and other factors may prevent RMRM from successfully closing additional loans, executing its new business and realizing its investment objective. Further, once RMRM invests or commits its remaining capital, its ability to continue to grow and fund loans will be subject to its ability to obtain additional cost-effective capital or its redeploying proceeds from repayments of its loan investments. The information contained in RMRM’s filings with the Securities and Exchange Commission, or SEC, including under “Risk Factors” in RMRM’s periodic reports or incorporated therein, identifies other important factors that could cause RMRM’s actual results to differ materially from those stated in or implied by RMRM’s forward looking statements. RMRM’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, RMRM does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise. A Maryland Statutory Trust with transferable shares of beneficial interest listed on the Nasdaq. No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.