BrightSpire Capital Announces Pricing of $675 Million BRSP 2024-FL2 Commercial Real Estate CLO and the Redemption of CLNC 2019-FL1
BrightSpire Capital, Inc. Class A (BRSP)
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--BrightSpire Capital, Inc. (NYSE: BRSP) (“BrightSpire Capital” or the “Company”) announced that the Company priced BRSP 2024-FL2, a $675 million managed Commercial Real Estate Collateralized Loan Obligation (the “2024-FL2 CLO”) on August 1, 2024. The transaction is scheduled to close on August 15, 2024. The 2024-FL2 CLO is collateralized by interests in 22 first-lien floating-rate mortgages secured by 25 properties, with an 86.50% initial advance rate at a weighted average coupon at issuance of Term SOFR+2.47%, before transaction costs.The asset collateral is located across 9 states and primarily consists of multifamily properties (74.3%), mixed-use (13.8%), hospitality (7.1%), office (2.8%) and industrial (2.0%). All loans were originated by subsidiaries of the Company. The structure features a two-year reinvestment period and available proceeds of approximately $85 million to be used within a six-month ramp up period from closing.Moody's Investor Servic
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News
- BrightSpire Capital, Inc. (NYSE: BRSP) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $7.50 price target on the stock.MarketBeat
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- 12% Yield And Conservative Management. Yes!: BrightSpire [Seeking Alpha]Seeking Alpha
- BrightSpire Capital, Inc. Announces Second Quarter 2024 Financial ResultsBusiness Wire
- BrightSpire Capital, Inc. (NYSE: BRSP) had its "neutral" rating re-affirmed by analysts at BTIG Research.MarketBeat
BRSP
Earnings
- 7/30/24 - Beat
BRSP
Sec Filings
- 8/23/24 - Form 8-K
- 8/19/24 - Form 8-K
- 7/31/24 - Form 10-Q
- BRSP's page on the SEC website