FS Credit Real Estate Income Trust Inc., a monthly NAV REIT sponsored by FS Investments, announced that the board of directors approved and paid an excess of repurchase requests received during the fourth quarter of 2022.
FS Credit’s prospectus allows repurchases up to 2% of their aggregate net asset value of all shares classes per month and repurchases up to 5% of their aggregate NAV of all share classes per quarter.
In December 2022, FS Credit received repurchase requests equal to 2.53% of their aggregate NAV of all share classes for the month. Further, the cumulative repurchase requests for the fourth quarter of 2022 equaled 5.54% of their aggregate NAV of all share classes.
The board of directors, including all of their independent directors, unanimously authorized repurchases in excess of the 2% monthly repurchase limitation for December 2022 and the 5% quarterly repurchase limitation for the fourth quarter of 2022.
FS Credit met 100% of share repurchase requests timely received in December 2022 and the fourth quarter of 2022 was also satisfied.
FS Credit REIT invests primarily in floating rate senior loans secured by commercial real estate properties. The REIT launched in September 2017 and has received gross offering proceeds of approximately $2.6 billion as of Nov. 3, 2022.
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