Jason Weaver

Steven Delaney

Gaurav Mehta

John Nickodemus

Randolph Binner

Eric Dray

Matthew Howlett

Randy Binner

Stephen Laws

William Catherwood

- BrightSpire Capital reported **Adjusted Distributable Earnings of $0.16 per share** and a **GAAP Net Income of $0.01 per share** for Q3 2025.  **[0001717547_2209211:6]** **[0001717547_2209211:7]** **[0001717547_2209211:9]** 
- The company declared and paid a **quarterly dividend of $0.16 per share** for Q3 2025, reflecting a **12.1% annualized dividend yield**.  **[0001717547_2209211:6]** **[0001717547_2209211:7]** 
- As of September 30, 2025, BRSP maintained **$280 million in total liquidity** and reported an **undepreciated book value per share of $8.68**.  **[0001717547_2209211:6]** **[0001717547_2209211:7]** **[0001717547_2209211:9]** 
- The total loan portfolio was **$2.4 billion** with a **weighted average unlevered all-in yield of 7.7%**.  **[0001717547_2209211:6]** **[0001717547_2209211:7]** **[0001717547_2209211:11]** 
- During Q3 2025, BrightSpire Capital repurchased **0.2 million shares** of Class A common stock for **$1.0 million** at a blended price of **$5.33 per share**.  **[0001717547_2209211:8]**

BrightSpire Capital Reports Q3 2025 Earnings and Dividend

- BrightSpire Capital reported **Q3 2025 adjusted distributable earnings of $21.2 million or $0.16 per share**, alongside GAAP net income of **$1 million or $0.01 per share**.  **[0001717547_2216436_0]** 
- The company achieved **net positive loan originations for the second consecutive quarter**, with **$224 million** in loans originated during Q3 and early October, and an additional **$242 million** in execution.  **[0001717547_2216436_1]** **[0001717547_2216436_2]** 
- Watchlist loans were significantly reduced from **$411 million** at the start of 2024 to **$182 million** by Q3 2025, while the REO portfolio stands at **$364 million**.  **[0001717547_2216436_1]** **[0001717547_2216436_2]** 
- Current liquidity is **$280 million**, including **$87 million** of unrestricted cash, and the company is preparing for its next CLO securitization.  **[0001717547_2216436_0]** **[0001717547_2216436_1]** 
- Management targets growing the loan book to approximately **$3.5 billion**, anticipating approximately **$300 million per quarter** in originations to achieve this goal.  **[0001717547_2216436_1]** **[0001717547_2216436_4]** **[0001717547_2216436_6]**

BrightSpire Capital Reports Q3 2025 Earnings and Operational Progress

- BrightSpire Capital reported **Q3 2025 GAAP net income** of **$1 million** ($0.01 per share) and **adjusted distributable earnings** of **$21.2 million** ($0.16 per share).  **[0001717547_2216506_0]** 
- The company achieved **net positive loan originations** for the second consecutive quarter, with **$224 million** in new loans originated during Q3 2025 and early October, and an additional **$242 million** in execution.  **[0001717547_2216506_1]** 
- Watchlist loans were reduced to **$182 million** as of Q3 2025 from **$411 million** at the start of 2024, and the company is preparing for its next CLO securitization.  **[0001717547_2216506_1]** 
- Current liquidity stands at **$280 million**, including **$87 million** in unrestricted cash, as the company targets growing its loan book to approximately **$3.5 billion**.  **[0001717547_2216506_0]** **[0001717547_2216506_1]**

BrightSpire Capital Reports Q3 2025 Results

- BrightSpire Capital reported **Q3 2025 adjusted distributable earnings of $21.2 million, or $0.16 per share**, and **GAAP net income of $1 million, or $0.01 per share**.  **[0001717547_2211546_0]**  The company's **current liquidity stands at $280 million**, including **$87 million in unrestricted cash**.  **[0001717547_2211546_0]** 
- The company achieved **net positive loan originations for the second consecutive quarter**, originating **$224 million** in Q3 2025 and early October, with an additional **$242 million** in execution.  **[0001717547_2211546_1]**  The loan portfolio currently stands at **$2.4 billion**.  **[0001717547_2211546_2]** 
- BRSP significantly reduced its watchlist loans from **$411 million** at the start of 2024 to **$182 million**.  **[0001717547_2211546_1]**  The REO portfolio has an undepreciated gross book value of **$364 million**, with two office properties currently on the market for sale.  **[0001717547_2211546_2]** **[0001717547_2211546_6]** 
- Management aims to grow the loan book to approximately **$3.5 billion**, requiring over **$1 billion in gross originations** by the end of 2026, targeting about **$300 million per quarter**.  **[0001717547_2211546_1]** **[0001717547_2211546_4]**

BrightSpire Capital Reports Q3 2025 Adjusted Distributable Earnings of $0.16 Per Share and Continued Loan Origination Growth

- BrightSpire Capital, Inc. reported **GAAP net income attributable to common stockholders of approximately $1.0 million**, or **$0.01 per share**, for the third quarter ended September 30, 2025.  **[1717547_0001717547-25-000080_brspq325earningsreleasev.htm:1]** 
- The company announced **Adjusted Distributable Earnings of $21.2 million**, or **$0.16 per share**, for Q3 2025.  **[1717547_0001717547-25-000080_brspq325earningsreleasev.htm:1]** 
- As of September 30, 2025, **GAAP net book value was $7.53 per share** and **undepreciated book value was $8.68 per share**.  **[1717547_0001717547-25-000080_brspq325earningsreleasev.htm:1]** 
- CEO Michael J. Mazzei noted a **"productive quarter"** characterized by **positive net loan originations, an REO sale, and a reduction in watchlist exposure**.  **[1717547_0001717547-25-000080_brspq325earningsreleasev.htm:1]** 
- A **quarterly cash dividend of $0.16 per share** for the third quarter of 2025 was declared and paid on October 15, 2025.  **[1717547_0001717547-25-000080_brspq325earningsreleasev.htm:1]**

BrightSpire Capital, Inc. announces Q3 2025 financial results and dividend

- BrightSpire Capital reported **GAAP net income attributable to common stockholders of $1.0 million, or $0.01 per share**, and **Adjusted Distributable Earnings of $21.2 million, or $0.16 per share**, for the third quarter of 2025.  **[1717547_3ad04e2c927f4cc6bf5224738532a780_0]** 
- As of September 30, 2025, the company's **GAAP net book value was $7.53 per share** and **undepreciated book value was $8.68 per share**.  **[1717547_3ad04e2c927f4cc6bf5224738532a780_0]** 
- The Board of Directors declared a **quarterly cash dividend of $0.16 per share** for the third quarter of 2025, which was paid on October 15, 2025.  **[1717547_3ad04e2c927f4cc6bf5224738532a780_1]** 
- CEO Michael J. Mazzei noted a productive quarter, highlighted by **positive net loan originations, an REO sale, and a reduction in watchlist exposure**, with expectations to continue growing the portfolio and earnings.  **[1717547_3ad04e2c927f4cc6bf5224738532a780_0]**

BrightSpire Capital (BRSP)