Walnut Creek, CA (PRWEB) August 01, 2013
Owens Realty Mortgage, Inc. (NYSE MKT: ORM) announced today that it has closed a $9.625 million senior trust deed investment secured by an industrial office building located in the greater San Francisco Bay area. The investment is a five-year, interest-only loan with an interest rate of 10%, with a 6% pay rate for the first nine months and deferred interest due at maturity.
William Owens, the Chief Executive Officer, commented, “We are very pleased with this opportunity to provide a customized financing structure that addressed the unique requirements of the borrower and will make a valuable addition to our portfolio. This transaction is another example of our ability to provide lending solutions with speed and flexibility.”
About Owens Realty Mortgage, Inc.
Owens Realty Mortgage, Inc., a Maryland corporation, is a real estate investment trust that invests in commercial real estate mortgage loans primarily in the Western U.S. The Company specializes in unconventional loans that require speed and flexibility. Owens Realty Mortgage, Inc., is headquartered in Walnut Creek, California, and is externally managed and advised by Owens Financial Group, Inc.
Additional information can be found on the Company’s website at http://www.owensmortgage.com.
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “target,” “assume,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward looking statements made in this release include, but may not be limited to the Company’s expectations regarding the performance of its business and the yield on its investments.
Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. Additional information concerning these and other risk factors is contained in the Company’s most recent filings with the Securities and Exchange Commission. All subsequent written and oral forward looking statements concerning the Company or matters attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.
SOURCE: Owens Realty Mortgage, Inc.