secwatch.observer — SEC 8-K summary
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Issuer:     BrightSpire Capital, Inc. (BRSP)
CIK:        0001717547
Form:       8-K
Filed at:   2026-04-28T23:59:59+00:00
Accession:  0001717547-26-000038
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BrightSpire Q1 GAAP net income $4.8M; deploys $311M, watch list down 39%
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- GAAP net income $4.8M ($0.03/shr); Distributable Earnings $15.6M ($0.12/shr); Adjusted Distributable Earnings $18.2M ($0.14/shr).
- Net book value $7.05/shr, undepreciated book value $8.24/shr as of March 31, 2026.
- Closed $311M in committed capital in Q1; $283M in-execution; watch list reduced ~39% year-to-date.
- CEO highlights portfolio de-risking with stable CECL reserves and continued resolution of REO/watch list loans.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1717547/000171754726000038/0001717547-26-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1717547/000171754726000038/brsp-20260428.htm
  HTML page:      https://secwatch.observer/filing/0001717547-26-000038

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer