Benefit Street Partners L.L.C. Announces Closing of Three Senior Loans Aggregating $265 Million on a Multifamily 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 three floating-rate, cross-collateralized senior loans aggregating $265 million on a multifamily portfolio. The portfolio comprises 1,262 units of class A multifamily product across three properties located in Saint John’s County, Florida. Electra Capital Advisors, LLC provided three co-terminus mezzanine loans aggregating $60 million. The loan’s sponsor, Gatlin Development, is a repeat borrower of BSP. BSP was the original construction lender for all three assets, which were completed in 2023 and 2024.BSP allocated the loan across its commercial real estate platform, including $136.4 million to Franklin BSP Realty Trust, Inc. (NYSE: FBRT).Michael Comparato, Head of Commercial Real Estate for BSP, commented: “This transaction is another example of the high-quality multifamily loans we're adding across our real estate platform. The properties are some of the highest qua
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FBRT
Earnings
- 11/4/24 - Miss
FBRT
Sec Filings
- 11/8/24 - Form 8-K
- 11/8/24 - Form 424B3
- 11/8/24 - Form 424B5
- FBRT's page on the SEC website