other material
confidence high
sentiment negative
materiality 0.65
InPoint sells distressed office loan at 20% discount, portfolio reduced by $8.4M
InPoint Commercial Real Estate Income, Inc.
- Declared $0.1042/share distribution (8.19% annualized yield on $15.27 NAV) paid Oct 17.
- Sold a Houston office loan (9% of portfolio) at ~80% of principal, cutting portfolio value by $8.4M but adding ~$10M cash.
- Portfolio as of Sep 30: 18 loans ($382M outstanding) and 5 REO assets ($105M FMV) for $487M total.
- Five loans rated 4 or 5 (highest risk) total $68M; specific loan loss reserve of $4.4M.
- Office exposure reduced from 25% to 18% after sale; multifamily remains 77% of loan portfolio.