| CRE Loans |
Subsequent to June 30, 2026, the Company originated the following CRE loans ($ in thousands):
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Location |
|
Property Type |
|
Origination Date |
|
Loan Amount (1) |
|
|
Outstanding
Principal |
|
|
Interest Rate(2) |
|
Maturity Date |
West |
|
Student Housing |
|
7/13/2026 |
|
$ |
93,500 |
|
|
$ |
92,150 |
|
|
SOFR + 2.90% |
|
8/10/2029 |
South |
|
Hospitality |
|
7/17/2026 |
|
|
59,450 |
|
|
|
59,450 |
|
|
SOFR + 2.99% |
|
7/17/2028 |
South |
|
Multifamily |
|
7/17/2026 |
|
|
78,200 |
|
|
|
78,000 |
|
|
SOFR + 2.75% |
|
8/8/2028 |
South |
|
Multifamily |
|
7/17/2026 |
|
|
58,200 |
|
|
|
57,800 |
|
|
SOFR + 2.80% |
|
8/8/2028 |
South |
|
Student Housing |
|
7/21/2026 |
|
|
39,000 |
|
|
|
38,815 |
|
|
SOFR + 2.95% |
|
12/8/2028 |
East |
|
Hospitality |
|
7/21/2026 |
|
|
75,000 |
|
|
|
72,700 |
|
|
SOFR + 3.75% |
|
7/21/2029 |
East |
|
Multifamily |
|
7/29/2026 |
|
|
7,600 |
|
|
|
7,125 |
|
|
SOFR + 3.10% |
|
7/29/2028 |
Total |
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|
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$ |
410,950 |
|
|
$ |
406,040 |
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|
|
(1)Loan amount consists of outstanding principal balance plus unfunded loan commitments. (2)Loans earn interest at the one-month term SOFR plus a spread. Payment terms for all loans are interest only with principal due at maturity. The following table summarizes the Company’s borrowings and paydowns subsequent to June 30, 2026 ($ in thousands):
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Borrowings |
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Paydowns |
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|
Ending Balance |
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|
Weighted Average Interest Rate |
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|
Maturity Date |
Repurchase Facilities: |
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|
|
GS Seller I Repurchase Facility |
|
$ |
54,525 |
|
|
$ |
(57,100 |
) |
|
$ |
972,132 |
|
|
|
5.98 |
% |
|
8/16/2027 |
GS Seller II Repurchase Facility |
|
|
— |
|
|
|
— |
|
|
|
57,180 |
|
|
|
5.78 |
% |
|
8/16/2027 |
GS Seller III Repurchase Facility |
|
|
— |
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— |
|
|
|
124,405 |
|
|
|
5.81 |
% |
|
8/16/2027 |
Atlas Repurchase Facility |
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|
9,330 |
|
|
|
(9,000 |
) |
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|
339,800 |
|
|
|
5.90 |
% |
|
10/11/2027 |
Morgan Stanley Repurchase Facility |
|
|
— |
|
|
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— |
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422,724 |
|
|
|
5.41 |
% |
|
7/24/2029 |
NS Seller I Repurchase Facility |
|
|
— |
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— |
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|
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— |
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|
— |
% |
|
11/21/2027 |
Santander Repurchase Facility |
|
|
62,662 |
|
|
|
— |
|
|
|
179,728 |
|
|
|
5.19 |
% |
|
4/8/2029 |
Total Repurchase Facilities |
|
|
126,517 |
|
|
|
(66,100 |
) |
|
|
2,095,969 |
|
|
|
|
|
|
JPM Revolving Credit Facility |
|
|
— |
|
|
|
(21,989 |
) |
|
|
292,282 |
|
|
|
5.39 |
% |
|
10/15/2028 |
Total |
|
|
|
$ |
126,517 |
|
|
$ |
(88,089 |
) |
|
$ |
2,388,251 |
|
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| Schedule of Issuance of Common Shares |
Subsequent to June 30, 2026, the Company issued the following shares (in thousands, except for share amounts):
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Shares |
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Gross Proceeds |
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Class B |
|
|
101,689 |
|
|
$ |
2,033 |
|
Class R |
|
|
15,868 |
|
|
|
315 |
|
Class J-1 |
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|
115,253 |
|
|
|
2,288 |
|
Class J-2 |
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|
33,384 |
|
|
|
662 |
|
Class J-4 |
|
|
583,662 |
|
|
|
11,716 |
|
Class S |
|
|
124,559 |
|
|
|
2,496 |
|
Class D |
|
|
|
|
337,883 |
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|
|
6,765 |
|
Class I |
|
|
2,064,650 |
|
|
|
41,351 |
|
Class E |
|
|
4,442 |
|
|
|
89 |
|
Class F-I |
|
|
72,002 |
|
|
|
1,442 |
|
Class F-S |
|
|
161,158 |
|
|
|
3,231 |
|
Total |
|
|
3,614,550 |
|
|
$ |
72,388 |
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|