BRSP

BrightSpire Capital, Inc., formerly Colony Credit Real Estate, is a commercial real estate credit REIT focused on originating, acquiring, financing, and managing senior commercial real estate debt investments. The company provides senior and mezzanine loans, preferred equity, and other structured financing primarily secured by institutional-quality commercial properties including office, multifamily, retail, and hospitality assets. BrightSpire targets floating-rate loans and employs leverage to enhance returns. The REIT was formed through the merger of Colony Capital credit businesses and reorganized in 2021, shedding non-core assets and refocusing on commercial real estate credit strategies. Headquartered in New York City, BrightSpire manages a portfolio of commercial real estate debt investments originated through direct relationships with borrowers and sponsors. The company faces significant challenges from office sector weakness, rising interest rates affecting property values and borrower performance, and credit quality concerns. BrightSpire has experienced elevated loan modifications, non-accrual loans, and write-downs as office markets deteriorated. The REIT is working to manage problem loans, reposition the portfolio, and navigate difficult commercial real estate credit market conditions.