What changed
The company sold 125,406 Class I shares for $3,132,650 and 87,580 Class S shares for $2,208,050, including $22,050 in upfront selling commissions. It originated three floating rate first mortgage loans: $41.2 million for a Kent, Washington industrial portfolio, $70.4 million for a Bloomingdale, Georgia industrial building, and $125.9 million for an Atlanta, Georgia office tower. All loans carry three-year initial terms with two one-year extension options and interest-only payments at one-month term SOFR plus 2.60%, 2.55%, and 3.05% respectively.
Why it matters
The company sold 125,406 Class I shares for $3,132,650 and 87,580 Class S shares for $2,208,050, including $22,050 in upfront selling commissions. It originated three floating rate first mortgage loan