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Edge28 Nov 2025
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Franklin BSP Realty Trust (FBRT) investor relations material
Franklin BSP Realty Trust 17th Annual Southwest IDEAS Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.17th Annual Southwest IDEAS Conference summary20 Nov, 2025
Platform overview and strategy
Operates as a commercial mortgage REIT focused on the middle market, with loans typically ranging from $25M–$75M.
Multifamily assets comprise about 75% of the portfolio, with a current core portfolio size of $4.4B.
Portfolio is concentrated in the Southwest, Southeast, and Sunbelt regions, especially Texas and the Carolinas.
Net leverage stands at 2.5x as of 9/30, and the dividend yield on book value is just under 10%.
Trades at about 70% of book value, with a 14% dividend yield on stock price.
Portfolio composition and risk management
60% of the portfolio originated post-interest rate hike (after Jan 2023), reflecting updated valuations.
Only 2% of the portfolio is in office assets, with no new office loans since 2020.
Focus on senior loans and Class A multifamily has limited legacy portfolio issues compared to peers.
Uses a barbell approach to balance yield, with exposure to hospitality and industrial assets.
Financing and recent transactions
Primarily finances loans through CLOs; recently issued a $1.1B CLO in Q4, freeing up cash for reinvestment.
Acquisition of NewPoint, a Plano-based company with all three major agency licenses, closed on July 1.
NewPoint had a record $2.1B in agency originations in the quarter.
Integration of NewPoint brings mortgage servicing rights (MSRs), providing a slow but steady increase in book value.
Transitioning servicing in-house from Situs to NewPoint, aiming for completion by end of Q1 next year.
What is the timeline for dividend coverage?
How does NewPoint enhance FBRT's platform?
Explain the REO asset management strategy.
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Next Franklin BSP Realty Trust earnings date
Q4 202513 Feb, 2026
Next Franklin BSP Realty Trust earnings date
Q4 202513 Feb, 2026
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Frequently asked questions
Franklin BSP Realty Trust Inc. operates as a real estate investment trust (REIT) that specializes in originating, acquiring, and managing a diverse portfolio of commercial real estate debt investments. These investments are primarily secured by properties located across the United States. The company's portfolio includes a range of commercial real estate debt instruments, such as first mortgage loans, mezzanine loans, bridge loans, and other related loans. FBRT also engages in originating conduit loans and investing in commercial real estate securities, in addition to owning real estate acquired through foreclosure or deed in lieu of foreclosure and purchased for investment purposes. The company is headquartered in NYC, and its shares are listed on the New York Stock Exchange.
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