---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-202257"
form_type: "8-K"
ticker: null
cik: "0002018545"
company_name: "Franklin BSP Real Estate Debt BDC"
filed_at: "2025-09-12T23:59:59+00:00"
generated_at: "2026-05-17T06:47:24.541319+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# North Carolina Treasurer acquires 99.99% of Franklin BSP Real Estate Debt BDC in private transaction

## Summary
- On September 10, 2025, the Treasurer of the State of North Carolina acquired 99.99% of the Company's outstanding common shares.
- The acquisition was a private transaction from prior holders, resulting in a change in control of the registrant.
- Franklin BSP Real Estate Debt BDC is a business development company focused on real estate debt investments.

## SEC filing metadata
- accession: 0001193125-25-202257
- form_type: 8-K
- cik: 0002018545
- company_name: Franklin BSP Real Estate Debt BDC
- filed_at: 2025-09-12T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 5.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2018545/000119312525202257/0001193125-25-202257-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2018545/000119312525202257/d907829d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-202257
- JSON: https://secwatch.observer/filing/0001193125-25-202257.json
- Plain text: https://secwatch.observer/filing/0001193125-25-202257.txt

## Key facts
- M&A Transactions
  Franklin BSP Real Estate Debt BDC underwent a change of control involving Treasurer of the State of North Carolina (closed 2025-09-10).
  - Action: change of control
  - Counterparty: Treasurer of the State of North Carolina
  - Closing: 2025-09-10
  source text: On September 10, 2025, the Treasurer of the State of North Carolina acquired 99.99% of Franklin BSP Real Estate Debt BDC’s (the “Company”) outstanding common shares of beneficial interest from the prior holders in a private transaction.
  evidence_url: https://www.sec.gov/Archives/edgar/data/2018545/000119312525202257/0001193125-25-202257-index.htm

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