FS Credit Real Estate Income Trust Inc., a monthly NAV REIT sponsored by FS Investments, has declared a monthly net asset value per share as of December 31, 2020.
Class S shares had an NAV per share of $25.34 as of December 31, 2020, compared to $25.35 per share the previous month.
Class T shares had an NAV per share of $25.13, compared to $25.15 per share the previous month.
Class D shares had an NAV per share of $25.16, compared to $25.17 per share the previous month.
Class M shares had an NAV per share of $25.22 compared to $25.23 per share the previous month.
Class I shares had an NAV per share of $24.62, compared to $24.64 per share the previous month.
Class F shares had an NAV per share of $25.10, compared to $25.11 per share the previous month.
Class Y shares had an NAV per share of $24.66, compared to $24.67 per share the previous month.
*Dollar amounts have been rounded to the nearest cent.
Class S shares are available through brokerage and transactional-based accounts, while Class D, Class M and Class I shares are generally available through fee-based programs. Class I shares are available for purchase by endowments, foundations, pension funds and other institutional investors.
Class F and Class Y shares were offered via private offerings and are only available in the public offering through the distribution reinvestment plan.
In December 2020, one loan in its portfolio was fully repaid, making it the ninth full-cycle loan since inception and the fifth loan to repay in full since August 2020. The REIT indicated that received exit fees in connection with the December repayment, providing a source of fee income for our shareholders.
“An increase in the pace of capital raising over the last several months and the repayment of loans provided us with significant capital to deploy into new originations at what we believe are attractive terms in the current environment,” FS Credit REIT stated in an SEC filing. “We closed on five new originations in December totaling $139.2 million in financings across geography and property types, including an industrial property guaranteed by an investment-grade rated company as well as loans secured by multifamily and office properties. With the retrenchment of many traditional and alternative lenders since the onset of COVID, we are pleased with our growing investment pipeline.”
As of December 31, 2020, the REIT said that it had not recorded any impairments or non-accruals in its loan portfolio. As of December 31, 2020, 98 percent of its loan portfolio was current.
FS Credit REIT invests primarily in floating rate senior loans secured by commercial real estate properties and had an investment portfolio of 31 loans with a net book value of $599 million, as of September 30, 2020. The REIT, which is advised by FS Real Estate Advisor LLC and sub-advised by Rialto Capital Management LLC, raised $275 million in investor equity as of September 2020. FS Credit REIT registered a $2.75 billion follow-on offering in August 2020.