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Stock impact report

Benefit Street Partners L.L.C. Announces Purchase of a $391 Million Loan 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 purchase of an approximately $391 million loan portfolio secured by eight, newer-vintage multifamily properties across multiple markets in the United States sponsored by institutional-quality borrowers and operators.BSP allocated the loans across its commercial real estate platform, including a portion to Franklin BSP Realty Trust, Inc. (NYSE: FBRT).“This transaction represents one of the largest investments BSP CRE has executed to date,” said Michael Comparato, Head of Commercial Real Estate for BSP. “It is a large portfolio of high-quality multifamily loans backed by newer assets and institutional quality sponsors. Executing a transaction of this size and scale demonstrates our ability to underwrite and execute complex portfolio acquisitions while maintaining a disciplined credit approach.”Brian Buffone, Head of Real Estate Operations for BSP, added, "We've witnessed significan Show less Read more
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