---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-045531"
form_type: "8-K"
ticker: "FBRT"
cik: "0001562528"
company_name: "Franklin BSP Realty Trust, Inc."
filed_at: "2026-04-20T23:59:59+00:00"
generated_at: "2026-05-15T05:19:38.526504+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# FBRT closes $880.4M CRE securitization; sells $778.1M in notes

## Summary
- Issuer BSPRT 2026-FL13 closed $880.4M securitization backed by commercial/multifamily loans.
- Sold $778.1M of nine classes of floating-rate notes due 2043; retained $59.4M in Class J Income Notes.
- Proceeds to repay credit facility borrowings, fund future loans, and for general corporate purposes.
- Initial weighted average lives range from 3.09 yrs (Class A) to 4.76 yrs (Class E); rates are SOFR + spread.
- Transaction structured as financing; FBRT consolidates Issuer and intends to hold portfolio to maturity.

## SEC filing metadata
- accession: 0001104659-26-045531
- form_type: 8-K
- ticker: FBRT
- cik: 0001562528
- company_name: Franklin BSP Realty Trust, Inc.
- filed_at: 2026-04-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1562528/000110465926045531/0001104659-26-045531-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1562528/000110465926045531/tm2612124d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-045531
- JSON: https://secwatch.observer/filing/0001104659-26-045531.json
- Plain text: https://secwatch.observer/filing/0001104659-26-045531.txt

## Source-grounded claims
- claim_id: d118f459e689847a1830db31e69bcd6b4b86554f
  claim: Franklin BSP Realty Trust, Inc. incurred senior notes of $880.4 million with Wilmington Trust, National Association at 1.5000% plus 1 Month CME Term SOFR, 1.7000% plus 1 Month CME Term SOFR, 2.0000% maturing October 18, 2043.
  evidence_excerpt: closed an approximately $880.4 million commercial real estate mortgage securitization transaction, and sold approximately $778.1 million of the securitization’s notes in a private placement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1562528/000110465926045531/0001104659-26-045531-index.htm
- claim_id: 5dc60c4c17d3e5bc061ee77c00a6afbbbcb1ac70
  claim: Franklin BSP Realty Trust, Inc. entered into Indenture with Benefit Street Partners Realty Operating Partnership, L.P., as Advancing Agent; Wilmington Trust, National Association, as Trustee; Computershare Trust Company, National Association, as Note Administrator and Custodian valued at approximately $880.4 million (effective 2026-04-15).
  evidence_excerpt: closed an approximately $880.4 million commercial real estate mortgage securitization transaction, and sold approximately $778.1 million of the securitization’s notes in a private placement. The notes were issued pursuant to an indenture (the “Indenture”), dated as of the Closing Date, by and among the Issuer, Benefit Street Partners Realty Operating Partnership, L.P., as advancing agent (the “Advancing Agent”), Wilmington Trust, National Association,, as trustee (the “Trustee”) and Computershare Trust Company, National Association, as note administrator (the “Note Administrator”) and custodian, and in other capacities.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1562528/000110465926045531/0001104659-26-045531-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.