Credit

Enhancing Value Through Private Credit

Tremont Realty Capital, RMR’s private credit platform, is a wholly owned subsidiary and SEC-registered investment adviser. Backed by more than 20 years of lending expertise and deep industry relationships, Tremont originates and invests in floating-rate first mortgage loans secured by middle-market and transitional commercial real estate.

Portfolio Highlights

Our track record

As a core component of RMR’s capital markets strategy, our track record reflects consistent executions and strong risk-adjusted returns across market cycles.

$0.4B

loans originated since inception

$0M

current loan commitments

$0.5B

in structured debt transactions

*As of December 31, 2025

Key market drivers

Renewed momentum in CRE lending

Private credit has become an increasingly significant component of today’s CRE capital stack, offering attractive yield, structural downside protection and diversification benefits.

Persistent Lending Gaps

Tightened capital requirements, heightened regulatory scrutiny and the repricing of risk have significantly reduced traditional bank lending. This pullback is most acute in transitional, value-add and construction financing.

Accelerating Private Credit Inflows

In 2025 alone, CRE debt funds targeting the U.S. raised more than $20 billion, marking one of the strongest capital inflows on record. Investor demand for private credit continues to accelerate as allocators seek yield with downside protection.

Attractive Risk-Adjusted Returns

CRE credits provides predictable income streams, structural downside protection and lower volatility relative to equity strategies - making it an increasingly compelling allocation within traditional real estate investments.

Investment & Lending Strategy

Our approach

Tremont has invested across multiple vehicles and is currently deploying capital on behalf of Seven Hills Realty Trust (Nasdaq: SEVN). Tremont formulates and executes investment strategies that provide investors access to compelling CRE credit opportunities. Combining real-time market intelligence with disciplined underwriting and active management, we deploy capital where conviction is highest.

Tremont originates floating‑rate first mortgage loans for middle‑market commercial real estate nationwide, providing capital for acquisitions, recapitalizations and transitional or value‑add business plans. Leveraging our long-standing sponsor relationships and market intelligence, we identify opportunities where private credit can deliver competitive yield, structural protection and meaningful impact with the CRE capital stack.

A significant portion of our originations are executed on behalf of SEVN, a publicly traded mortgage REIT advised by Tremont. SEVN’s investment objective - balancing capital preservation with attractive, risk‑adjusted returns - guides our sourcing strategy and enables us to deploy capital with speed and conviction across middle‑market and transitional CRE.

More about Tremont

Our underwriting discipline is grounded in rigorous analysis, real‑time data from RMR’s national operating platform, and SEVN’s investment guidelines. Every SEVN‑aligned opportunity is evaluated by Tremont’s Investment Committee to ensure alignment with risk, structure, and return parameters. By combining collateral fundamentals, sponsor strength and market insight, we structure loans that reflect today’s evolving CRE credit environment.

Lending Parameters:

  • Loan amounts: $20 million to $75 million.
  • Collateral: First mortgages, with mezzanine loans considered on a select basis.
  • Interest rates: Competitive spreads over SOFR.
  • LTV: Up to 75%.
  • Term: 3-5 years (inclusive of base term plus extensions).
  • Fees: Competitive.
  • Amortization: Interest only.
  • Recourse: Non-recourse except for standard carve-outs.
  • Prepayment: Open to prepayment at any time, subject to minimum interest or yield maintenance.
  • Property types: Industrial, Life Science, Multifamily, Manufactured Housing, Self-Storage, Medical Office, Retail and Hospitality.


Indicative terms are estimates based on current market conditions and are subject to change.

Tremont oversees each loan from closing through payoff, ensuring performance through active monitoring, transparent communication, and disciplined compliance. On behalf of SEVN, Tremont also manages ongoing portfolio administration, reporting and governance - providing investors with clarity and confidence across market cycles.

This integrated approach strengthens the feedback loop between originations, underwriting and asset management, enabling faster decisions, stronger risk controls and long‑term value creation for shareholders and private credit investors alike.

The RMR advantage

Why partner with RMR Credit

Our platform provides investors with access to a growing segment of CRE lending - supported by RMR’s national operating infrastructure, data‑driven insights and institutional discipline. We are focused on opportunities where our underwriting strength, strong sponsor relationships, and integrated platform create differentiated value.

Cycle-Tested Leadership

Tremont's leadership team brings decades of experience lending through shifting market cycles, giving us the perspective to navigate uncertainty and underwrite with conviction. Our disciplined approach, honed over years of active deployment helps ensure consistency, resilience and informed decision-making.

Integrated Platform Advantage

Backed by RMR's vertically integrated platform, Tremont benefits from real-time insights into leasing, asset performance and market fundamentals, enabling faster evaluations, smarter structures and the execution speed middle-market borrowers demand - creating meaningful advantages for our investors.

Repeat Borrower Relationships

Our lending approach is built on long-term partnership, transparency, and reliability. Sponsors return to Tremont because we deliver what we promise: speed, certainty and solutions tailored to their business plans. These strong relationships expand deal flow and reinforce the consistency of our platform.

Proprietary Deal Flow

RMR’s national footprint and long‑standing sponsor relationships give Tremont access to differentiated, often off‑market opportunities across the middle‑market lending landscape. This consistent, proprietary deal flow strengthens portfolio quality and enhances risk‑adjusted performance across cycles.

Representative deals

Strategic lending insights

Our portfolio of completed transactions demonstrates Tremont’s ability to deliver tailored financing solutions that meet the unique needs of middle-market sponsors. Each deal reflects our commitment to speed, certainty of execution and strategic alignment with borrower objectives – whether funding acquisitions, recapitalizations or value-add repositioning.

Let's talk opportunities

In a market flooded with promises, we lead with proof.

Explore our track record, see the market from our perspective and allow u sto introduce you to our team.

Tremont Realty Capital is a division of The RMR Group. For more information on The RMR Group, please visit rmrgroup.com.

Tremont Realty Capital is an operating division of The RMR Group LLC and refers to both (i) a brokerage business that exists within The RMR Group LLC which principally raises debt and equity capital for owners of commercial real estate and (ii) a wholly owned registered investment adviser subsidiary of The RMR Group LLC providing investment advice with respect to commercial real estate debt and equity capital.

Tremont Realty Capital

NMLS #1752106

Arizona Commercial Mortgage Banker License #CBK-0949402

California Finance Lender License #60DBO-80218

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For additional information about Tremont or to contact us, please visit our website at www.tremontcapital.com.