| Balance Sheets | 2025-09-30 | 2025-06-30 | ||
|---|---|---|---|---|
| Cash and cash equivalents | 116,652 | 414,085 | ||
| Restricted cash | 27,211 | 8,695 | ||
| Investment securities, held to maturity | 18,948 | - | ||
| Commercial mortgage loans, held for investment, net of allowance for credit losses of 43,981 and 78,083 as of september30, 2025 and december31, 2024, respectively | 4,368,800 | 4,482,201 | ||
| Commercial mortgage loans, held for sale, measured at fair value | 619,031 | 17,150 | ||
| Commercial mortgage loans, held for sale | 40,909 | - | ||
| Real estate securities, available for sale, measured at fair value, amortized cost of 82,578 and 202,894 as of september30, 2025 and december31, 2024, respectively | 82,640 | 83,361 | ||
| Mortgage servicing rights, net | 208,564 | - | ||
| Accrued interest receivable | 41,183 | 35,830 | ||
| Receivable for loan repayment | 25,736 | 171,775 | ||
| Prepaid expenses and other assets | 46,738 | 23,155 | ||
| Real estate owned, net of depreciation | 99,853 | 111,839 | ||
| Real estate owned, held for sale | 212,429 | 220,357 | ||
| Equity method investments | 69,071 | 23,376 | ||
| Intangible assets, net of amortization | 117,981 | 38,394 | ||
| Goodwill | 90,848 | - | ||
| Derivative instruments, measured at fair value | 18,779 | - | ||
| Loans eligible for repurchase | 13,102 | - | ||
| Total assets | 6,218,475 | 5,630,218 | ||
| Collateralized loan obligations | 2,813,699 | 3,043,604 | ||
| Repurchase agreements-Commercial Mortgage Backed Securities | 1,176,808 | 573,093 | ||
| Repurchase agreements-Real Estate Securities | 131,657 | 128,890 | ||
| Other financings-Commercial Mortgage Backed Securities | 12,865 | 12,865 | ||
| Unsecured debt | 185,262 | 184,934 | ||
| Mortgage note payable | 23,998 | 23,998 | ||
| Allowance for loss sharing | 22,555 | - | ||
| Accrued compensation | 48,092 | - | ||
| Liability for loans eligible for repurchase | 13,102 | - | ||
| Due to affiliates | - | 13,074 | ||
| Interest payable | 20,086 | 12,378 | ||
| Distributions payable | 39,425 | 36,456 | ||
| Accounts payable and accrued expenses | 20,836 | 14,310 | ||
| Due to affiliates | 12,728 | - | ||
| Derivative instruments, measured at fair value | 7,554 | 350 | ||
| Intangible lease liability, held for sale | - | 880 | ||
| Other liabilities | 34,039 | - | ||
| Total liabilities | 4,562,706 | 4,044,832 | ||
| Convertible Preferred Stock Nonredeemable Or Redeemable Issuer Option Value | 89,748 | 89,748 | ||
| Total redeemable convertible preferred stock | 89,748 | 89,748 | ||
| Preferred stock, 0.01 par value 100,000,000 shares authorized, 7.5 cumulative redeemable preferred stock, series e, 10,329,039 shares issued and outstanding as of september30, 2025 and december31, 2024-Series EPreferred Stock | 258,742 | 258,742 | ||
| Common stock, 0.01 par value, 900,000,000 shares authorized, 82,925,055 and 83,066,789 shares issued and outstanding as of september30, 2025 and december 31, 2024, respectively | 822 | 822 | ||
| Additional paid-in capital | 1,605,399 | 1,603,162 | ||
| Accumulated other comprehensive income/(loss) | 62 | -296 | ||
| Accumulated deficit | -392,841 | -373,710 | ||
| Total stockholders' equity | 1,472,184 | 1,488,720 | ||
| Non-controlling interest | 93,837 | 6,918 | ||
| Total equity | 1,566,021 | 1,495,638 | ||
| Total liabilities, redeemable convertible preferred stock and equity | 6,218,475 | 5,630,218 | ||
Franklin BSP Realty Trust, Inc. (FBRT)
Franklin BSP Realty Trust, Inc. (FBRT)