Matthew Erdner

Jason Stewart

William Catherwood

Randolph Binner

Randy Binner

Stephen Laws

Steve Delaney

Steven Delaney

Tom Catherwood

- Franklin BSP Realty Trust (FBRT) reported **distributable earnings of $0.22 per fully converted share** and **GAAP net income of $0.13 per fully converted common share** for Q3 2025.  **[0001562528_2216025_2]** 
- The acquisition of NewPoint Holdings JV LLC, which closed on July 1, contributed **$9.3 million to distributable earnings** and achieved a record **$2.2 billion in originations** in its first full quarter.  **[0001562528_2216025_1]**  NewPoint is expected to be accretive to GAAP earnings and book value per share in the first half of 2026, and to distributable earnings in the second half of 2026.  **[0001562528_2216025_3]** 
- FBRT originated **$304 million in new loan commitments** and funded **$196 million** in Q3 2025, while receiving **$275 million in loan repayments**.  **[0001562528_2216025_1]**  The core portfolio ended the quarter at **$4.4 billion**, with a target size of **$5 billion to $5.5 billion**.  **[0001562528_2216025_4]** **[0001562528_2216025_7]** 
- The company resumed **share repurchases in Q4**, buying back **540,000 shares for approximately $6 million** through October 24, with **$25.6 million remaining** on the authorization.  **[0001562528_2216025_1]** 
- Following quarter-end, FBRT closed its 12th CRE CLO (FL12) on October 15, which is expected to add an incremental **$0.05 to $0.07 per share of quarterly earnings** once deployed, with benefits realized in early 2026.  **[0001562528_2216025_1]** **[0001562528_2216025_2]**

Franklin BSP Realty Trust Reports Q3 2025 Earnings, Highlights NewPoint Contribution and Share Buyback

- **FBRT** reported **GAAP Net Income of $17.6 million** and **$0.13 per fully converted share** for Q3 2025.  **[0001562528_2212958:5]** **[0001562528_2212958:8]** **[0001562528_2212958:32]** 
- **Distributable Earnings** for Q3 2025 were **$26.7 million**, or **$0.22 per fully converted share**.  **[0001562528_2212958:5]** **[0001562528_2212958:8]** **[0001562528_2212958:32]** 
- The company declared a **Q3 2025 cash dividend of $0.355 per share**.  **[0001562528_2212958:5]** **[0001562528_2212958:8]** **[0001562528_2212958:10]** 
- **Fully-converted book value per share** was **$14.29** as of September 30, 2025.  **[0001562528_2212958:5]** **[0001562528_2212958:34]** 
- **FBRT** had **$522 million in liquidity** and resumed **share repurchases**, buying back **$6.0 million** through October 24, 2025, with **$25.6 million** remaining under the program.  **[0001562528_2212958:5]** **[0001562528_2212958:15]**

FBRT announces Q3 2025 financial results

- Franklin BSP Realty Trust, Inc. reported **GAAP net income of $17.6 million** and **diluted earnings per share (EPS) of $0.12** for the three months ended September 30, 2025, compared to $24.4 million net income and $0.19 diluted EPS for the prior quarter.  **[1562528_0001562528-25-000037_fbrtq32025earningsrelease.htm:0]** 
- **Distributable Earnings** for Q3 2025 were **$26.7 million**, or **$0.22 per diluted common share**.  **[1562528_0001562528-25-000037_fbrtq32025earningsrelease.htm:0]** 
- As of September 30, 2025, the company's **book value was $14.29 per diluted common share**.  **[1562528_0001562528-25-000037_fbrtq32025earningsrelease.htm:0]** **[1562528_0001562528-25-000037_fbrtq32025earningsrelease.htm:1]** 
- FBRT declared a **common stock cash dividend of $0.355** for the third quarter of 2025.  **[1562528_0001562528-25-000037_fbrtq32025earningsrelease.htm:0]** 
- During Q3 2025, the company closed **$304.2 million** of new loan commitments and originated **$2.2 billion** of new loan commitments in its agency segment. On July 1, 2025, FBRT acquired **NewPoint Holdings JV LLC**, and subsequent to quarter-end, on October 15, 2025, closed an approximately **$1.1 billion** commercial real estate mortgage securitization transaction.  **[1562528_0001562528-25-000037_fbrtq32025earningsrelease.htm:0]** **[1562528_0001562528-25-000037_fbrtq32025earningsrelease.htm:1]**

Franklin BSP Realty Trust, Inc. Announces Third Quarter 2025 Results

- Franklin BSP Realty Trust, Inc. filed an 8-K on **October 17, 2025**, reporting an event on **October 15, 2025**, concerning the establishment of an Indenture.  **[1562528_0001104659-25-100408_tm2528860d1_8k.htm:0]** **[1562528_0001104659-25-100408_tm2528860d1_8k.htm:5]** 
- The Indenture facilitates the issuance of **ten classes of notes**, comprising secured floating rate notes and income notes, all with a due date in **2043**.  **[1562528_0001104659-25-100408_tm2528860d1_ex10-1.htm:57]** 
- The total original principal amount of these notes is **$1,075,351,911**.  **[1562528_0001104659-25-100408_tm2528860d1_ex10-1.htm:57]** 
- These notes are collateralized by **42 "Closing Date Collateral Interests"** and **2 "Delayed Close Collateral Interests"**.  **[1562528_0001104659-25-100408_tm2528860d1_ex10-1.htm:200]**

Franklin BSP Realty Trust, Inc. Establishes Indenture for Issuance of Over $1 Billion in Secured Notes

- Franklin BSP Realty Trust (FBRT) **closed its acquisition of NewPoint Holdings JV LLC on July 1**.  **[1562528_2144514_0]** 
- The acquisition adds a **scaled agency origination and servicing platform**, transforming FBRT into a **"cradle-to-grave" provider of debt capital** for the multifamily sector.  **[1562528_2144514_0]** **[1562528_2144514_1]** 
- NewPoint's business is **capital-light**, being 100% financed by warehouse lines, and is expected to enhance FBRT's income stability and drive **long-term book value per share growth** through Mortgage Servicing Rights (MSRs).  **[1562528_2144514_0]** **[1562528_2144514_1]** **[1562528_2144514_3]** **[1562528_2144514_5]** 
- **Cross-selling opportunities** are already being realized, with examples of joint product offerings to clients.  **[1562528_2144514_1]** **[1562528_2144514_2]** 
- Full integration and realization of synergies are anticipated to take **a few quarters through early next year**.  **[1562528_2144514_6]**