<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-09-30</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0001708405</issuerCik>
        <issuerName>Tremont Mortgage Trust</issuerName>
        <issuerTradingSymbol>NASDAQTRMT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001716421</rptOwnerCik>
            <rptOwnerName>Tremont Realty Capital LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>TWO NEWTON PLACE</rptOwnerStreet1>
            <rptOwnerStreet2>255 WASHINGTON STREET, SUITE 300</rptOwnerStreet2>
            <rptOwnerCity>NEWTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02458</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001613503</rptOwnerCik>
            <rptOwnerName>RMR Group LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>TWO NEWTON PLACE</rptOwnerStreet1>
            <rptOwnerStreet2>255 WASHINGTON STREET, SUITE 300</rptOwnerStreet2>
            <rptOwnerCity>NEWTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02458</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001644378</rptOwnerCik>
            <rptOwnerName>RMR GROUP INC.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>TWO NEWTON PLACE</rptOwnerStreet1>
            <rptOwnerStreet2>255 WASHINGTON STREET, SUITE 300</rptOwnerStreet2>
            <rptOwnerCity>NEWTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02458</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares of Beneficial Interest</value>
            </securityTitle>
            <transactionDate>
                <value>2021-09-30</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>1600100</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Disposed of pursuant to that certain Agreement and Plan of Merger (the &quot;Merger Agreement&quot;), dated as of April 26, 2021, by and between Seven Hills Realty Trust (&quot;SEVN&quot;) (f/k/a RMR Mortgage Trust) and the Issuer, in exchange for 825,651 SEVN common shares of beneficial interest having a market value of $10.31 per share on the effective date of the merger of the Issuer with and into SEVN, based on the closing price of SEVN's common shares of beneficial interest on such effective date, plus cash in lieu of fractional shares.</footnote>
        <footnote id="F2">All shares reported were held directly by Tremont Realty Capital (&quot;TRC&quot;). TRC is a direct wholly owned subsidiary of The RMR Group LLC (&quot;RMR LLC&quot;), which is the direct majority owned operating subsidiary of The RMR Group Inc. (&quot;RMR Inc.&quot;). RMR Inc. and RMR LLC may have been deemed to beneficially own the shares owned directly by TRC.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Matthew P. Jordan President and Chief Executive Officer, on behalf of Tremont Realty Capital LLC</signatureName>
        <signatureDate>2021-10-04</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Matthew P. Jordan Executive Vice President and Chief Financial Officer, on behalf of The RMR Group LLC</signatureName>
        <signatureDate>2021-10-04</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Matthew P. Jordan Executive Vice President and Chief Financial Officer, on behalf of The RMR Group Inc.</signatureName>
        <signatureDate>2021-10-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
