Benefit Street Partners L.L.C. Announces Closing of $120 Million Loan on a Texas Office Portfolio
Franklin BSP Realty Trust, Inc. (FBRT)
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Benefit Street Partners L.L.C. (“BSP” or the “Company”) today announced the closing of a $120 million floating-rate senior loan to Silver Star Properties REIT (“Silver Star”), intended to facilitate the liquidation of Silver Star’s legacy real estate portfolio. Silver Star expects to sell all current assets within their portfolio and subsequently acquire self-storage properties and transition to a self-storage REIT.The 4.2 million square foot portfolio totals 27 properties across multiple asset classes including office (24), retail (2), and industrial (1), located throughout the Dallas, Houston and San Antonio MSAs. BSP’s loan has a two-year term with no extension options. RMWC, a boutique private lender, provided a co-terminus second mortgage loan for $15 million at closing, for a combined loan of $135 million. Raymond James Real Estate Investment Banking acted as exclusive financial advisor to Silver Star.BSP allocated the loan across its commercial re
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News
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- Franklin BSP Realty Trust First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag [Yahoo! Finance]Yahoo! Finance
- Franklin BSP (FBRT) Misses Q1 Earnings and Revenue Estimates [Yahoo! Finance]Yahoo! Finance
- Franklin BSP Realty Trust, Inc. Announces First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- Franklin BSP Realty Trust, Inc. Announces First Quarter 2024 ResultsBusiness Wire
FBRT
Earnings
- 4/29/24 - Miss
FBRT
Sec Filings
- 4/29/24 - Form 8-K
- 4/29/24 - Form 10-Q
- 4/17/24 - Form ARS
- FBRT's page on the SEC website