Claros Mortgage Q1 GAAP net loss $78.6M; book value slips to $13.60

Claros Mortgage Trust, Inc.

2025-Q1 EPS reported -$0.56 revenue$43,375,000

GAAP net loss of $78.6M ($0.56 per share); distributable loss of $35.7M ($0.25).
Book value fell to $13.60/share from $14.12 at year-end; adjusted book value $14.64.
CECL reserves of $260.8M (4.4% of UPB); 46% of loans risk rated 4 or higher.
Q1 loan repayments/sales of $316M; $437M received subsequent to quarter end.
Net debt/equity 2.4x; total liquidity $136M at March 31, improved to $261M by May 6.

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