InPoint Originates More Than $76 Million in First Mortgage Loans in 4Q19
InPoint Commercial Real Estate Income Inc., a commercial mortgage real estate investment trust, announced that it originated $76.1 million in floating-rate first mortgage loans during the fourth quarter of 2019.
InPoint Commercial Real Estate Income Inc., a commercial mortgage real estate investment trust, announced that it originated $76.1 million in floating-rate first mortgage loans during the fourth quarter of 2019.
The mortgage loan originations include a $35.9 million first mortgage loan secured by a multifamily property in Tucson, a $26.2 million first mortgage loan secured by an office property in Charlotte, and a $14 million first mortgage loan secured by a multifamily property in Azusa, California.
“Secured by high quality real estate, the InPoint portfolio has grown to more than $664 million in assets, spread across 49 investments, financing a diverse mix of outstanding properties,” said Mitchell Sabshon, chief executive officer of InPoint.
Externally managed by a wholly-owned indirect subsidiary of Inland Real Estate Investment Corporation, InPoint Commercial Real Estate Income, Inc. is a commercial mortgage real estate investment trust that seeks to originate, acquire and manage a diversified credit portfolio secured by commercial real estate properties primarily within the United States.
InPoint Commercial Real Estate Income is advised by an affiliate of Inland Real Estate Investment Corporation and sub-advised by an affiliate of Sound Point Capital Management LP.
The company oversees a portfolio of first mortgage loans, CMBS and credit loans are secured by multifamily, industrial, office, hospitality, student housing and retail real estate assets located across the United States. The portfolio is currently composed of 97.5 percent floating-rate investments.
