About Us

Tremont Mortgage Trust is a real estate finance company focusing primarily on originating and investing in first mortgage loans secured by middle market and transitional commercial real estate (CRE).

We believe capital markets for CRE financing is undergoing a fundamental change presenting an opportunity for alternative lenders like TRMT. TRMT’s goal is to be a leading provider of debt capital secured by middle-market capital CRE.

In 2016, The RMR Group LLC acquired the historical Tremont business, which specialized in middle market CRE finance. In connection with the acquisition, 16 real estate professionals, including loan originators in six offices around the U.S., joined The RMR Group LLC.

Tremont Mortgage Trust seeks to leverage the CRE debt expertise of the Tremont team with the national platform and real estate management experience of The RMR Group LLC.

Manager and Platform

Our manager, Tremont Realty Advisors LLC, is an SEC registered investment adviser owned by The RMR Group LLC, an alternative asset manager founded in 1986 to manage CRE companies and related businesses.

The RMR Group Inc. (Nasdaq: RMR) is a holding company and substantially all of its business is conducted by its majority-owned subsidiary, The RMR Group LLC. The RMR Group LLC's business primarily consists of providing management services to six publicly owned real estate investment trusts, or REITs, and three real estate related operating companies. As of March 31, 2018, The RMR Group LLC had approximately $30.0 billion of total assets under management, including more than 1,700 properties, and employed over 550 real estate professionals in more than 35 offices throughout the United States; the companies managed by The RMR Group LLC collectively had approximately 52,000 employees.

TRMT, through its manager Tremont Realty Advisors LLC, is supported by the depth of The RMR Group LLC, which has:

$30 Billion
in total assets under management
more than
550
real estate professionals
nationwide reach with
36 offices
across the U.S.
over
30 years
of cre experience

Senior Leadership

TRMT senior leadership average over 25 years of CRE credit and capital markets experience through multiple real estate cycles, including lending and loan restructuring experience.

Portrait

David M. Blackman, Chief Executive Officer

Mr. Blackman has been our Chief Executive Officer since our formation and a Managing Trustee since 2018. Mr. Blackman has been an Executive Vice President at The RMR Group LLC, or RMR LLC, since 2013 and was a Senior Vice President from 2009 to 2013. Mr. Blackman has also served as an Executive Vice President of our Manager since it was formed in 2016. Mr. Blackman has been the President and Chief Operating Officer of Government Properties Income Trust since 2011 and was its Chief Financial Officer and Treasurer from 2009 until 2011. Mr. Blackman has also been the President and Chief Operating Officer of Select Income REIT since 2011 and a Managing Trustee since 2018. Prior to joining RMR LLC, Mr. Blackman was employed as a banker at Wachovia Corporation and its predecessors for 23 years, where he focused on real estate finance matters, including serving as a Managing Director in the real estate section of Wachovia Capital Markets, LLC from 2005 through 2009. Mr. Blackman’s experience includes asset level real estate lending, real estate loan syndications, REIT corporate banking and real estate investment banking.

Portrait

Richard C. Gallitto, Co-President and Chief Investment Officer

Mr. Gallitto has been our Co-President and Chief Investment Officer since our formation and will be responsible for implementing our investment strategy and overseeing origination and deal structuring. Mr. Gallitto has served as Senior Vice President of Tremont Realty Advisors LLC and The RMR Group LLC, or RMR LLC, since RMR LLC acquired substantially all of the Tremont business in 2016. Before joining RMR LLC, Mr. Gallitto was Executive Director and an owner of Tremont Realty Capital, LLC, which he co-founded in 2000. Prior to founding the Tremont business in 2000, Mr. Gallitto was a regional director with Finova Realty Capital from 1997 to 2000, where he led Finova’s Northeast U.S. Division and managed six real estate loan production offices. Previously, Mr. Gallitto established and led a Northeast mortgage banking division for CBRE Group, Inc. from 1993 to 1997. Mr. Gallitto began his career in commercial banking working for several predecessor firms of Bank of America.

Portrait

Daniel O. Mee, Co-President and Chief Operating Officer

Mr. Mee has been our Co-President and Chief Operating Officer since our formation and will be responsible for analysis of our borrowers’ credit characteristics and all investment collection efforts. Mr. Mee has served as Senior Vice President of Tremont Realty Advisors LLC and The RMR Group LLC, or RMR LLC, since RMR LLC acquired substantially all of the Tremont business in 2016. Before joining RMR LLC, Mr. Mee was Executive Director and an owner of Tremont Realty Capital, LLC, which he co-founded in 2000. Prior to founding the Tremont business in 2000, Mr. Mee was a senior director with Finova Realty Capital from 1997 to 2000, where he originated debt and equity investments for real estate developers. Prior to Finova, Mr. Mee was a senior liquidation specialist with the Federal Deposit Insurance Corporation, where his responsibilities included managing distressed real estate debt, real estate owned assets and bank closings. Mr. Mee began his CRE lending career at JP Morgan Chase Bank in New York City.

Portrait

G. Douglas Lanois, Chief Financial Officer and Treasurer

Mr. Lanois has been our Chief Financial Officer and Treasurer since our formation. He will be responsible for supervising our investment closings and our day to day Portfolio management. Mr. Lanois has served as Vice President of Tremont Realty Advisors LLC and The RMR Group LLC, or RMR LLC, since RMR LLC acquired substantially all of the Tremont business in 2016. Before joining RMR LLC, Mr. Lanois was Chief Financial Officer and Portfolio Manager of Tremont Realty Capital, LLC since 2004. Prior to Tremont Realty Capital, LLC, Mr. Lanois was Chief Financial Officer of CRES Development Company, Inc., a multidisciplinary real estate firm, from 2003 to 2004. Prior to CRES Development, Mr. Lanois was Senior Vice President and Chief Financial Officer at Pembroke Real Estate, the real estate development and management division of FMR LLC, from 1998 to 2002. Prior to Pembroke, Mr. Lanois was Vice President and Controller at Beacon Properties Corporation, and he previously worked at AEW Capital Management and the accounting firm of Laventhol & Horwath.

Board of Trustees

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John L. Harrington, Independent Trustee

Mr. Harrington has been one of our Independent Trustees since shortly after our formation. Mr. Harrington also serves on the Boards of Hospitality Properties Trust, Senior Housing Properties Trust, Government Properties Income Trust and RMR Real Estate Income Fund. Mr. Harrington was the CEO of the Boston Red Sox Baseball Club until 2002, and is currently the Executive Director and Chairman of the Yawkey Foundation and a trustee of the JRY Trust. Mr. Harrington is a certified public accountant.

Portrait

Joseph L. Morea, Independent Trustee

Mr. Morea has been one of our Independent Trustees since shortly after our formation. Mr. Morea also serves on the Boards of Industrial Logistics Properties Trust, TravelCenters of America LLC and RMR Real Estate Income Fund. Mr. Morea was a Vice Chairman and Managing Director, serving as head of U.S. Equity Capital Markets, at RBC Capital Markets, an international investment bank, from 2003 until 2012. From 2008 to 2009, Mr. Morea also served as the head of U.S. Investment Banking for RBC Capital Markets. Previously, Mr. Morea was employed as an investment banker, including as a Managing Director and the co‐head of U.S. Equity Capital Markets at UBS, Inc., the Chief Operating Officer of the Investments Banking Division and head of U.S. Equity Capital Markets at PaineWebber, Inc. and a Managing Director of Equity Capital Markets at Smith Barney, Inc. Prior to working as an investment banker, Mr. Morea was employed as a certified public accountant.

Portrait

Jeffrey P. Somers, Independent Trustee

Mr. Somers has been one of our Independent Trustees since shortly after our formation. Mr. Somers also serves on the Boards of Select Income REIT, Senior Housing Properties Trust, Government Properties Income Trust and RMR Real Estate Income Fund. Mr. Somers is of Counsel to the law firm of Morse, Barnes-Brown & Pendleton, PC of Waltham, MA.

Portrait

David M. Blackman, Managing Trustee

Mr. Blackman has been our Chief Executive Officer since our formation and a Managing Trustee since 2018. Mr. Blackman has been an Executive Vice President at The RMR Group LLC, or RMR LLC, since 2013 and was a Senior Vice President from 2009 to 2013. Mr. Blackman has also served as an Executive Vice President of our Manager since it was formed in 2016. Mr. Blackman has been the President and Chief Operating Officer of Government Properties Income Trust since 2011 and was its Chief Financial Officer and treasurer from 2009 until 2011. Mr. Blackman has also been the President and Chief Operating Officer of Select Income REIT since 2011 and a Managing Trustee since 2018. Prior to joining RMR LLC, Mr. Blackman was employed as a banker at Wachovia Corporation and its predecessors for 23 years, where he focused on real estate finance matters, including serving as a Managing Director in the real estate section of Wachovia Capital Markets, LLC from 2005 through 2009. Mr. Blackman’s experience includes asset level real estate lending, real estate loan syndications, REIT corporate banking and real estate investment banking.

Portrait

Adam D. Portnoy, Managing Trustee

Mr. Portnoy has been one of our Managing Trustees since our formation. Mr. Portnoy has also served as President and Chief Executive Officer of Tremont Realty Advisors LLC from 2016 through 2017 and as a Director since it was formed in 2016. Mr. Portnoy has been one of the Managing Directors of The RMR Group Inc., or RMR Inc., and its President and Chief Executive Officer since shortly after its formation in 2015. Mr. Portnoy is President and Chief Executive Officer of The RMR Group LLC, or RMR LLC, and was a Director of RMR LLC from 2006 until June 5, 2015 when RMR LLC became a majority owned subsidiary of RMR Inc. Mr. Portnoy has served as a Director of RMR Advisors LLC since 2007, and served as President from 2007 through 2017 and Chief Executive Officer from 2015 through 2017.

Mr. Portnoy is an owner, Trustee and Officer of ABP Trust, the controlling shareholder of RMR Inc. Mr. Portnoy serves as a Managing Trustee of Government Properties Income Trust (since 2009), Hospitality Properties Trust (since 2007), Industrial Logistics Properties Trust (since 2017), Select Income REIT (since 2011), Senior Housing Properties Trust (since 2007), and RMR Real Estate Income Fund, including its predecessor funds (since 2009), and Managing Director of TravelCenters of America LLC (since 2018) and Five Star Senior Living Inc. (since 2018). Mr. Portnoy has been an owner and Director of Sonesta International Hotels Corporation since 2012, and served as President of RIF from 2007 to 2015 and as President of GOV from 2009 to 2011. Mr. Portnoy was a Managing Trustee of Equity Commonwealth from 2006 until 2014 and served as its President from 2011 to 2014. Prior to joining RMR LLC in 2003, Mr. Portnoy held various positions in the finance industry and public sector, including working as an investment banker at Donaldson, Lufkin & Jenrette and working in private equity at DLJ Merchant Banking Partners and at the International Finance Corporation (a member of The World Bank Group). Mr. Portnoy currently serves as the Honorary Consul General of the Republic of Bulgaria in Massachusetts, and previously served on the Board of Governors for the National Association of Real Estate Investment Trusts and the Board of Trustees of Occidental College.