Franklin BSP Realty Trust, Inc. (NYSE: FBRT) announced on September 26, 2025 that it has priced a new $1.076 billion managed Commercial Real Estate Collateralized Loan Obligation, designated BSPRT 2025‑FL12. The CLO will feature a 30‑month reinvestment period and is intended to provide the company with additional capital for loan origination and portfolio expansion.
The transaction carries an initial advance rate of 88% and a weighted‑average interest cost of 1 M CME Term SOFR + 1.61% before accounting for discount and transaction costs. These terms are consistent with the pricing structure of FBRT’s prior CLO issuances and are designed to balance yield with risk for investors.
Settlement of the CLO is scheduled for October 15, 2025, after which the proceeds will be available to support FBRT’s lending activities and potentially fund future acquisitions or refinancing initiatives. By adding this new source of capital, FBRT strengthens its balance sheet and enhances its ability to pursue growth opportunities in the commercial real estate market.
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