Franklin BSP Realty Trust Inc

Franklin BSP Realty Trust, Inc. (NYSE: FBRT) is a real estate investment trust that originates, acquires, and manages a diversified portfolio of commercial real estate debt secured by properties located in the United States. As of June 30, 2026, FBRT had approximately $6.4 billion of assets. The company's core portfolio consists of 172 commercial real estate loans totaling $4.3 billion in principal balance, with 80% collateralized by multifamily properties. Through its NewPoint subsidiary, FBRT operates an Agency Business segment that originates loans under Fannie Mae, Freddie Mac, and HUD programs and manages a servicing portfolio of approximately $59.8 billion. The company also engages in conduit lending, originating and selling fixed-rate commercial mortgage loans. FBRT is externally managed by Benefit Street Partners L.L.C., a wholly owned subsidiary of Franklin Resources, Inc. (Franklin Templeton), which manages approximately $93 billion in assets under management across credit strategies. The company's financing structure is primarily composed of collateralized loan obligations (71% of financing), warehouse facilities, and securities repurchase agreements, with 79% of core book financing being non-mark-to-market. Updated Jul 30, 2026