BrightSpire Capital, Inc. (BRSP) announced on Friday that it has priced BRSP 2024-FL2, a $675 million managed commercial real estate collateralized loan obligation or CLO on August 1.
The transaction is scheduled to be closed on August 15.
The 2024-FL2 CLO is collateralized by interests in 22 first-lien floating-rate mortgages secured by 25 properties, with an 86.50 percent initial advance rate at a weighted average coupon at issuance of term SOFR+2.47 percent, before transaction costs.
All loans were originated by subsidiaries of the company.
The structure features a two-year reinvestment period and available proceeds of around $85 million to be used within a six-month ramp up period from closing.
BrightSpire also announced that it will redeem its CLNC 2019-FL1 securitization on August 19.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.