Welcome to our dedicated page for Brightspire Capital news (Ticker: BRSP), a resource for investors and traders seeking the latest updates and insights on Brightspire Capital stock.
BrightSpire Capital, Inc. (NYSE: BRSP) is an internally-managed commercial real estate credit REIT. The company specializes in originating, acquiring, financing, and managing a diversified portfolio of commercial real estate debt and net lease real estate investments, primarily within the United States. By investing in CRE debt instruments, BrightSpire Capital aims to generate consistent risk-adjusted returns for its stakeholders.
Originally known as Colony Credit Real Estate, Inc. (CLNC), the company underwent a significant internalization of its management and operations, leading to a rebranding on April 30, 2021. The transformation brought a new level of focus and dedication to its business model.
The company's core business segments include Senior and Mezzanine Loans and Preferred Equity, Net Leased and Other Real Estate, and Corporate and Other. These segments allow BrightSpire Capital to offer a range of solutions across the capital stack, ensuring flexibility and stability.
The team at BrightSpire Capital includes seasoned real estate finance professionals with a demonstrated track record. They are committed to providing flexible solutions and prioritizing stability, clarity, and collaboration in all processes and deal executions.
Recent achievements and projects include the successful origination and management of first mortgage loans, which have proven effective in meeting the company's objectives. Additionally, geographically, the company generates its revenue predominantly from operations within the United States.
The latest news and updates about BrightSpire Capital, Inc. are essential for stakeholders wishing to stay informed about the company's performance, events, and developments. For the most current data, refer to news sources directly from BrightSpire Capital, Inc.
BrightSpire Capital (NYSE: BRSP) has appointed Kim S. Diamond as an independent director, effective October 13, 2021. The board now consists of six directors, five of whom are independent. Ms. Diamond brings over 30 years of experience in commercial real estate and structured finance, previously serving as a founding executive at Kroll Bond Rating Agency and managing director at Standard & Poor’s. Her expertise is expected to enhance the company's strategic direction and risk management.
BrightSpire Capital, Inc. (NYSE: BRSP) will release its third quarter 2021 financial results on November 3, 2021, before the market opens. A conference call will follow at 7:00 a.m. PT / 10:00 a.m. ET to discuss the results. To participate, dial (877) 407-0784 or international callers can reach (201) 689-8560. A webcast will also be available on the company’s website and accessible for 90 days. A replay will start at 10:00 a.m. PT on the same day through November 10, 2021.
BrightSpire Capital (NYSE: BRSP) announced its senior management team's participation in virtual meetings with investors at the Bank of America Merrill Lynch 2021 Global Real Estate Virtual Conference on September 21-22, 2021. This event aims to enhance investor engagement and provide insights into BrightSpire's strategy in commercial real estate credit investments. As one of the largest publicly traded CRE credit REITs, BrightSpire focuses on diversified debt investments and net leased properties, primarily within the United States.
BrightSpire Capital (NYSE: BRSP) has announced a secondary offering of 8,250,000 shares of Class A common stock at $9.00 per share, facilitated by a selling stockholder affiliated with DigitalBridge Group. The offering is expected to close on August 13, 2021, pending customary conditions. BrightSpire will not receive any proceeds from this sale as it hasn't offered shares. DigitalBridge has provided underwriters with a 30-day option to purchase an additional 1,237,500 shares. The offering is conducted under an effective shelf registration statement.
BrightSpire Capital (NYSE: BRSP) announced a secondary offering of 8,250,000 shares of its Class A common stock by a stockholder affiliated with DigitalBridge Group. The underwriters have a 30-day option to purchase an additional 1,237,500 shares. BrightSpire will not receive any proceeds from this offering, and none of its directors or officers are selling shares. BofA Securities and J.P. Morgan serve as underwriters. The offering is made under an effective shelf registration statement and will be conducted via a prospectus.
BrightSpire Capital (NYSE: BRSP) reported a second quarter 2021 GAAP net loss of $(19.7) million, or $(0.15) per share, alongside a Distributable Loss of $(27.1) million, or $(0.20) per share. Adjusted Distributable Earnings reached $27.0 million, equating to $0.20 per share. The Company also announced an increase in its quarterly dividend to $0.16 per share for Q3 2021, up from $0.14 per share in Q2 2021. As of June 30, 2021, the GAAP net book value stood at $11.75 per share, while the undepreciated book value was $12.66 per share.
BrightSpire Capital (NYSE: BRSP) has successfully closed its second managed Commercial Real Estate Collateralized Loan Obligation (CRE CLO) worth $800 million. This CLO is backed by 31 floating-rate mortgages secured by 41 properties, primarily multifamily, across 11 states, with an initial advance rate of 83.75%. The transaction aims to diversify funding sources, reduce capital costs, and provide match-term financing. The company plans to invest generated liquidity into new loan opportunities, further strengthening its business strategy.
BrightSpire Capital (NYSE: BRSP), formerly known as Colony Credit Real Estate, has reached an agreement to sell a majority of its historical development and non-accrual assets to Fortress Investment Group for gross proceeds of $223 million. This Co-Invest Portfolio Sale is expected to close in Q4 2021 and aligns with the company's goal of simplifying its portfolio and reducing exposure to non-core investments. The proceeds will also help pay off existing financing, preserving book value and facilitating a strategic pivot towards senior mortgage investments.
BrightSpire Capital (NYSE: BRSP) plans to release its Q2 2021 financial results on August 4, 2021, before the market opens. A conference call will follow at 7:00 a.m. PT / 10:00 a.m. ET to discuss these results. Interested participants can join the call by dialing (877) 407-0784 or access it via the Company’s website. A replay will be available the same day starting at 10:00 a.m. PT until August 11, 2021. BrightSpire Capital focuses on commercial real estate debt investments, primarily first mortgage loans, managed under a diversified portfolio.
BrightSpire Capital, formerly Colony Credit Real Estate, announced a name change and relocation of its headquarters from Los Angeles to New York City, effective June 25, 2021. The publicly traded company will now operate under the ticker symbol BRSP and a new CUSIP number. BrightSpire Capital focuses on a diversified portfolio of commercial real estate debt investments and net leased properties in the U.S., primarily through first mortgage loans. The company continues to be a significant player in the commercial real estate credit market.
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