FS Credit Real Estate Income Trust, Inc. (FS Credit REIT), a monthly NAV REIT that invests primarily in floating rate senior loans secured by commercial real estate properties, today announced its operating results for the quarter ended September 30, 2019.
Q3 2019 Highlights
- Net income of approximately $2.5 million and $6.5 million for the three and nine months ended September 30, 2019, respectively, exceeded distributions of approximately $2.3 million and $5.8 million for the respective periods.
- NAV increased quarter-over-quarter across all share classes.
- Increased the monthly distribution rate on all share classes for the second time since FS Credit REIT’s inception in connection with the July distribution. As a result, the annualized distribution yield on the Class I shares increased from 6.32% to 6.56% as of September 30, 2019.1
About FS Credit REIT
FS Credit REIT is a public reporting, non-listed real estate investment trust that originates, acquires and manages a portfolio of senior loans secured by commercial real estate primarily in the United States. FS Credit REIT seeks to generate an alternative source of income, preserve capital and realize long-term appreciation by investing in commercial real estate debt.
FS Credit REIT is advised by FS Real Estate Advisor, LLC and sub-advised by Rialto Capital Management, LLC (Rialto), a leading real estate investment and asset management company. Rialto’s commercial real estate platform, which has, together with its investment management, asset management, loan servicing, special servicing and loan origination affiliates, approximately 200 associates in 13 offices across the United States and Europe as of December 31, 2018, has originated over $7.3 billion of commercial mortgage loans since its inception and is one of the largest non-bank underwriters of commercial mortgage loans used in CMBS securitizations.
About FS Investments
FS Investments is a leading asset manager dedicated to helping individuals, financial professionals and institutions design better portfolios. The firm provides access to alternativesources of income and growth, and focuses on setting industry standards for investor protection, education and transparency.
FS Investments is headquartered in Philadelphia, PA, with offices in New York, NY, Orlando, FL, and Washington, DC. Visit www.fsinvestments.com to learn more.
1 Reflects the current month’s distribution annualized and divided by the prior month’s net asset value, which is inclusive of all fees and expenses. For the nine months ended September 30, 2019, 100% of FS Credit REIT’s distributions were funded through net investment income. The annualized distribution rate maybe rounded.