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FS Credit REIT Generates Positive Returns Across Share Classes to Close Out Year

FS Credit REIT Generates Positive Returns Across Share Classes to Close Out Year. FS Investments, FS Credit REIT, alternative investments, NAV, net asset value

FS Credit Real Estate Income Trust Inc., a monthly net asset value REIT sponsored by FS Investments, reported that it generated positive total returns across all share classes in December 2023.

Based on the Class I share performance, FS Credit REIT says it returned 7.25% in 2023 driven by the “consistent, high level of income generated by its portfolio with low NAV volatility.”

Its declared monthly NAV per share as of Dec. 31, 2023, was as follows:

Class S shares had an NAV per share of $25.04 as of Dec. 31, 2023, compared to $25.08 per share the previous month, a 0.16% decrease.

Class T shares had an NAV per share of $24.80, compared to $24.85 per share the previous month, a 0.20% decrease.

Class D shares had an NAV per share of $24.85, compared to $24.90 per share the previous month, a 0.20% decrease.

Class M shares had an NAV per share of $24.90, compared to $24.95 per share the previous month, a 0.20% decrease.

Class I shares had an NAV per share of $24.17, compared to $24.22 per share the previous month, a 0.21% decrease.

Class F shares had an NAV per share of $25.17, compared to $25.20 per share the previous month, a 0.12% decrease.

Class Y shares had an NAV per share of $24.14, compared to $24.18 per share the previous month, a 0.12% decrease.

The REIT also noted that it met 100% of repurchase requests tendered in December.

Loan originations totaled $994 million in 2023 across multifamily, industrial, hospitality and mixed-use properties with what FS Investments believes to be top-tier commercial real estate sponsors. As of Dec. 31, 2023, the portfolio was weighted to multifamily properties (58%).

The number of shares outstanding totaled 120.6 million as of Dec. 31, 2023, compared to 119.4 million the previous month. The company’s total net asset value equaled approximately $3 billion at month’s end.

FS Credit REIT invests primarily in floating rate senior loans secured by commercial real estate properties. The REIT is currently offering up to $2.75 billion in shares of common stock on a continuous basis and has received gross offering proceeds of approximately $1 billion as of Jan. 17, 2024.

For more FS Investments news, please visit their directory page.