FBRT recovers full loan principal and ~$20M extra from Williamsburg Hotel sale for $96M

Franklin BSP Realty Trust, Inc.

Sale of Williamsburg Hotel closed at $96M (cash + new debt) via bankruptcy court trustee.
Company recovered full principal amount of its loan (carrying cost as of Dec 31, 2022).
Additional proceeds of ~$20M after closing expenses; may pursue further remedies under loan docs.
Hotel was sold after multi-month marketing process under Chapter 11 plan.

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