InPoint Commercial Real Estate Income Inc., a commercial mortgage real estate investment trust, has established a credit facility of up to $250 million. The credit facility allows InPoint to finance first mortgage loans on behalf of the company and its investors.
The facility was established through a master repurchase agreement with Column Financial Inc., an affiliate of Credit Suisse AG. The initial credit available under the master repurchase agreement is $100 million and may be increased to a maximum of $250 million. The master repurchase agreement is for one year with two potential extensions.
“This credit facility is a major milestone and better positions the company for a year of growth,” said Don MacKinnon, president of InPoint Commercial Real Estate Income. “Our total assets from year-end [were] approximately $58 million and we look forward to building on that in 2018.”
In other InPoint news, the REIT recently originated a $12 million first mortgage loan for the refinancing of a Class A office building located near Washington, D.C.
InPoint Commercial Real Estate Income focuses on originating, acquiring and managing a diversified credit portfolio secured by commercial real estate properties primarily within the United States. The REIT is advised by a subsidiary of Inland Real Estate Investment Corporation and sub-advised by an affiliate of Sound Point Capital Management LP.