Franklin BSP Realty Trust closes ~$1.024B CRE securitization, sells $886M notes

Franklin BSP Realty Trust, Inc.

Closed $1.024B CRE securitization via subsidiary BSPRT 2024-FL11 Issuer on Sept 26, 2024.
Sold $886M of Class A-E floating-rate notes (private placement); retained ~$138M junior notes and preferred shares.
Portfolio of 23 multifamily, industrial, hospitality loans totaling $924M; $100M ramp-up for multifamily loans.
Proceeds to repay credit facilities, fund future loans, and for general corporate purposes.
Notes mature July 2039; weighted avg life 4.73-5.47 years for senior tranches.

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