Home News FS Credit REIT Originates $156.9 Million in Loans

FS Credit REIT Originates $156.9 Million in Loans

FS Credit Real Estate Income Trust, Inc, a monthly NAV REIT sponsored by FS Investments that invests primarily in floating rate senior loans secured by commercial real estate properties, has provided an update on its recent investment activity.

FS Credit Real Estate Income Trust, Inc, a monthly NAV REIT sponsored by FS Investments that invests primarily in floating rate senior loans secured by commercial real estate properties, has provided an update on its recent investment activity.

In February 2020, the REIT originated five floating-rate senior loans totaling $123.8 million (of which $115.4 million was initially funded), comprised of:

  • a $58.4 million (of which $55.3 million was funded at closing) loan secured by a 17-property portfolio of industrial properties located throughout South Carolina and North Carolina with an initial term of 36 months
  • a $19.7 million loan secured by a 2-property self-storage portfolio located in San Antonio and Atlanta with an initial term of 36 months
  • an $18 million (of which $14.4 million was funded at closing) loan secured by a 4-story, office and retail property located in the West Hollywood submarket in Los Angeles with an initial term of 48 months
  • a $17.2 million (of which $15.5 million was funded at closing) loan secured by an industrial property consisting of warehouse, manufacturing and distribution uses located in Los Angeles County with an initial term of 36 months
  • a $10.5 million loan secured by a single-story retail building and on-site parking spaces located in the West Hollywood submarket in Los Angeles with an initial term of 48 months.

During February 2020, the REIT also originated two mezzanine loans totaling $33.1 million, comprised of:

  • a $15 million floating-rate mezzanine loan collateralized by the equity interest of a multifamily property located in Queens, New York
  • an $18.1 million fixed-rate mezzanine loan secured by a 16-property portfolio of industrial properties located throughout South Carolina.

As of September 30, 2019, FS Credit REIT had a portfolio of 23 loans with a net book value of $372.3 million. The REIT is advised by FS Real Estate Advisor LLC and sub-advised by Rialto Capital Management LLC. As of November 14, 2019, the company had raised $170.8 million in investor equity.

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