v3.26.1
Subsequent Events
6 Months Ended
Jun. 30, 2026
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Subsequent to June 30, 2026, the Company refinanced the assets that had been financed in its two CRE CLOs, GPMT 2021-FL3 and GPMT 2021-FL4, on its JPMorgan Chase Bank, N.A. repurchase facility, which it extended to July 2028, with three 1-year term extension options. In connection with the refinance, the Company upsized its JPMorgan Chase Bank, N.A. repurchase facility to $651 million.
Subsequent to June 30, 2026, the Company extended and amended certain financing arrangements that reduced the most restrictive minimum unrestricted cash covenant from the greater of $30.0 million and 5.0% of recourse indebtedness to the greater of $20.0 million and 5.0% of recourse indebtedness, and reduced the tangible net worth covenant from the greater of the sum of (i) $600.0 million and (ii) 75.0% of net cash proceeds of the Company’s equity issuances to the greater of the sum of (i) $500.0 million and (ii) 75.0% of net cash proceeds of the Company’s equity issuances.
Events subsequent to June 30, 2026, were evaluated through the date these condensed consolidated financial statements were issued and no additional events were identified requiring further disclosure in these condensed consolidated financial statements.