FBRT - Mergers and acquisitions

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or "the Company") today announced the successful disposition of its largest foreclosure real estate owned (REO) asset, a multifamily property located in Raleigh, North Carolina, which closed on April 1, 2026. The sale marks an important step in the Company's ongoing strategy to recycle capital out of non-performing assets and redeploy it into higher-yielding opportunities. While the transaction was completed at a discount to carrying value, the Company views the outcome as a constructive advancement in resolving legacy assets and strengthening overall portfolio performance. "The successful disposition of our largest REO asset represents

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT") today announced the pricing of BSPRT 2026-FL13 ("FL13"), an $880.4 million managed Commercial Real Estate Collateralized Loan Obligation. FL13 features a 30-month reinvestment period. The transaction has an initial advance rate of 88.375% and a weighted average interest cost of 1M CME Term SOFR+1.76% before transaction costs. The transaction is expected to settle on April 15, 2026. Concurrently with the settlement of FL13, FBRT will call a CLO that was issued in 2022. Michael Comparato, Chief Executive Officer of FBRT, commented: "In a more challenging market backdrop, the successful pricing of this $880.4 million managed CRE CLO reflec

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 spo

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced its Board of Directors has declared a fourth quarter 2025 dividend of $0.355 per common share. The dividend is payable on or about January 12, 2026, to common stockholders of record as of December 31, 2025. The Board of Directors also declared a fourth quarter 2025 dividend on its convertible Series H Preferred Stock in an amount equal to the as-converted common dividend amount. FBRT's Board of Directors also declared a fourth quarter 2025 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE:FBRTPRE). This dividend is payable on January 15, 2026, to Series E pre

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced its Board of Directors has declared a third quarter 2025 dividend of $0.355 per common share. The dividend is payable on or about October 10, 2025, to common stockholders of record as of September 30, 2025. The Board of Directors also declared a third quarter 2025 dividend on its convertible Series H Preferred Stock in an amount equal to the as-converted common dividend amount. FBRT's Board of Directors also declared a third quarter 2025 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE:FBRTPRE). This dividend is payable on October 15, 2025, to Series E pref

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced that through its operating partnership, FBRT OP LLC, it has successfully issued, in a private offering, $107 million aggregate principal amount of unsecured senior notes, consisting of $82 million of 8.25% unsecured senior notes due 2030 (the "Fixed Rate Notes") and $25 million of floating rate unsecured senior notes due 2028, with an initial coupon of approximately 8.33% (the "Floating Rate Notes," and together with the Fixed Rate Notes, the "Notes"). The Fixed Rate Notes will mature on April 25, 2030 and the Floating Rate Notes will mature on April 25, 2028. The Company expects to use the net proceeds

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced its Board of Directors has declared a second quarter 2025 dividend of $0.355 per common share. The dividend is payable on or about July 10, 2025 to common stockholders of record as of June 30, 2025. The Board of Directors also declared a second quarter 2025 dividend on its convertible Series H Preferred Stock in an amount equal to the as-converted common dividend amount. FBRT's Board of Directors also declared a second quarter 2025 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE:FBRTPRE). This dividend is payable on July 15, 2025 to Series E preferred stoc

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced its Board of Directors declared a first quarter 2025 dividend of $0.355 per common share. The dividend is payable on or about April 10, 2025, to common stockholders of record as of March 31, 2025. The Board of Directors also declared a first quarter 2025 dividend on its convertible Series H Preferred Stock in an amount equal to the as-converted common dividend amount. FBRT's Board of Directors also declared a first quarter 2025 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE:FBRTPRE). This dividend is payable on April 15, 2025, to Series E preferred stockho

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced its Board of Directors has declared a fourth quarter 2024 dividend of $0.355 per common share. The dividend is payable on or about January 10, 2025, to common stockholders of record as of December 31, 2024. The Board of Directors also declared a fourth quarter 2024 dividend on its convertible Series H Preferred Stock in an amount equal to the as-converted common dividend amount. FBRT's Board of Directors also declared a fourth quarter 2024 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE:FBRTPRE). This dividend is payable on January 15, 2025, to Series E pr

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced its Board of Directors has declared a third quarter 2024 dividend of $0.355 per common share. The dividend is payable on or about October 10, 2024 to common stockholders of record as of September 30, 2024. The Board of Directors also declared a third quarter 2024 dividend on its convertible Series H Preferred Stock in an amount equal to the as-converted common dividend amount. FBRT's Board of Directors also declared a third quarter 2024 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE:FBRTPRE). This dividend is payable on October 15, 2024 to Series E preferr

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced its Board of Directors has declared a second quarter 2024 dividend of $0.355 per common share. The dividend is payable on or about July 10, 2024 to common stockholders of record as of June 28, 2024. The Board of Directors also declared a second quarter 2024 dividend on its convertible Series H Preferred Stock in an amount equal to the as-converted common dividend amount. FBRT's Board of Directors also declared a second quarter 2024 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE:FBRTPRE). This dividend is payable on July 15, 2024 to Series E preferred stoc

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced its Board of Directors has declared a first quarter 2024 dividend of $0.355 per common share. The dividend is payable on or about April 10, 2024 to common stockholders of record as of March 29, 2024. The Board of Directors also declared a first quarter 2024 dividend on its convertible Series H Preferred Stock in an amount equal to the as-converted common dividend amount. FBRT's Board of Directors also declared a first quarter 2024 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE:FBRTPRE). This dividend is payable on April 15, 2024 to Series E preferred stoc

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced its Board of Directors has declared a fourth quarter 2023 dividend of $0.355 per common share. The dividend is payable on or about January 10, 2024, to common stockholders of record as of December 29, 2023. The Board of Directors also declared a fourth quarter 2023 dividend on its convertible Series H Preferred Stock in an amount equal to the as-converted common dividend amount. FBRT's Board of Directors also declared a fourth quarter 2023 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE:FBRTPRE). This dividend is payable on January 16, 2024, to Series E pr

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced its Board of Directors has declared a third quarter 2023 dividend of $0.355 per common share. The dividend is payable on or about October 10, 2023 to common stockholders of record as of September 29, 2023. The Board of Directors also declared a third quarter 2023 dividend on its convertible Series H Preferred Stock in an amount equal to the as-converted common dividend amount. FBRT's Board of Directors also declared a third quarter 2023 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE:FBRTPRE). This dividend is payable on October 16, 2023 to Series E prefer

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced its Board of Directors has declared a second quarter 2023 dividend of $0.355 per common share. The dividend is payable on July 10, 2023 to common stockholders of record as of June 30, 2023. The Board of Directors also declared a second quarter 2023 dividend on its convertible Series H Preferred Stock in an amount equal to the as-converted common dividend amount. FBRT's Board of Directors also declared a second quarter 2023 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE:FBRTPRE). This dividend is payable on July 17, 2023 to Series E preferred stockholders

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced the successful completion of the sale of the Williamsburg Hotel, the Company's Brooklyn hotel asset, by a trustee appointed by the United States Bankruptcy Court for the Southern District of New York. The purchaser of the hotel was selected after a multi-month marketing process. The sale closed for a total sale price of $96 million, comprising cash and new indebtedness. As a result of the sale, the Company has recovered the full principal amount of its loan (equal to the carrying cost of the loan as of December 31, 2022) and approximately $20 million of additional proceeds after the payment of all related

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced its Board of Directors has declared a first quarter 2023 dividend of $0.355 per common share. The dividend is payable on April 10, 2023 to common stockholders of record as of March 31, 2023. The Board of Directors also declared a first quarter 2023 dividend on its convertible Series H Preferred Stock in an amount equal to the as-converted common dividend amount. FBRT's Board of Directors also declared a first quarter 2023 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE:FBRTPRE). This dividend is payable on April 17, 2023 to Series E preferred stockholders o

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced its Board of Directors has declared a fourth quarter 2022 common dividend of $0.355 per common share. The dividend is payable on January 11, 2023 to common stockholders of record as of December 30, 2022. The Board of Directors also declared fourth quarter 2022 dividends on its convertible Series H and I Preferred Stock in amounts equal to the as-converted common dividend amounts. FBRT's Board of Directors also declared a fourth quarter 2022 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE:FBRTPRE). This dividend is payable on January 17, 2023 to Series E pre

The Alternatives by Franklin Templeton platform now offers institutional multi-credit expertise in an accessible structure for wealth management clients Benefit Street Partners L.L.C ("BSP") and its parent company Franklin Templeton today announced the launch of Franklin BSP Private Credit Fund (FBSPX). The fund takes a multi-strategy approach to investing in US middle market private credit, seeking to generate strong current income and superior risk-adjusted returns across market cycles. Its interval fund structure provides access to potentially higher-yielding, senior-secured, credit-focused strategies not as readily available in traditional fixed income mutual funds. This press release

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced its Board of Directors has declared a third quarter 2022 common dividend of $0.355 per common share. The dividend is payable on October 11, 2022 to common stockholders of record as of September 30, 2022. The Board of Directors also declared third quarter 2022 dividends on its convertible Series C and H Preferred Stock in amounts equal to the as-converted common dividend amounts. FBRT's Board of Directors also declared a third quarter 2022 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE:FBRTPRE). This dividend is payable on October 17, 2022 to Series E prefe

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced its Board of Directors has declared a second quarter 2022 common dividend of $0.355 per common share. The dividend is payable on July 11, 2022 to common stockholders of record as of June 30, 2022. The Board of Directors also declared second quarter 2022 dividends on its convertible Series C and D Preferred Stock in amounts equal to the as-converted common dividend amounts. FBRT's Board of Directors also declared a second quarter 2022 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE:FBRTPRE). This dividend is payable on July 15, 2022 to Series E preferred sto

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced that all of the outstanding shares of the Company's Series F Convertible Preferred Stock converted on a one-for-one basis into an equal amount of shares of the Company's common stock on April 19, 2022. Following such conversion, there were 83,690,662 shares of the Company's common stock outstanding. All shares of common stock issued upon conversion are freely tradeable by the holders on the New York Stock Exchange. There are no shares of Series F Preferred Stock outstanding following the conversion. About Franklin BSP Realty Trust, Inc. Franklin BSP Realty Trust, Inc. (NYSE:FBRT) is a real estate investm

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced the Company closed a record $1.6 billion of commitments in the fourth quarter of 2021, resulting in record annual originations of 95 loans totaling approximately $3.2 billion of commitments for the year. Michael Comparato, Head of Commercial Real Estate for Benefit Street Partners, L.L.C., the Company's external manager, stated: "FBRT's record originations of $3.2 billion in 2021 with $1.6 billion of that amount coming in the fourth quarter further proves the strength of our middle-market commercial real estate lending strategy. We begin 2022 with a robust pipeline and are confident we will continue to de

Franklin BSP Realty Trust, Inc. (NYSE:FBRT) ("FBRT" or the "Company") today announced its fourth quarter 2021 common dividend of $0.355 per common share. The cumulative fourth quarter dividend consists of the $0.07 per share interim dividend paid on October 18, 2021 prior to the completion of the merger with Capstead Mortgage Corporation, and the remaining dividend of $0.285 per share declared by the Board of Directors on December 17, 2021, which will be paid on January 10, 2022 to common stockholders of record as of December 31, 2021. FBRT's Board of Directors also declared a fourth quarter 2021 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NY