Exceeding Earnings Guidance
Distributable earnings of $0.34 per share exceeded the high end of the guidance range, driven by strong loan portfolio performance and new loan production.
Strong Portfolio Health
All loans remain current with no nonaccrual loans, and the weighted average risk rating improved to 2.9 from 3.1.
Significant Financial Flexibility
The company ended the quarter with $42 million in cash and $298 million in unused financing capacity.
Successful Loan Origination
Closed two new student housing loans totaling $50 million, aligning with the focus on resilient sectors.
Improved Office Exposure
Office exposure declined to 25% from 27% at year-end, reflecting a strategic shift to stronger asset classes.