Strong Momentum as Standalone Public Entity
SUNS continues strong momentum since its listing as an independent public company, benefiting from favorable commercial real estate market conditions.
Positive Impact from Federal Reserve's Interest Rate Cut
The Federal Reserve's interest rate cut of 50 basis points improved buyer and borrower sentiment, increasing demand for commercial real estate debt.
Active Deal Pipeline
SUNS has an active pipeline of $1.2 billion, with $461 million in closed deals and $235 million in documentation.
Successful Credit Facility with East West Bank
Closed a senior secured revolving credit facility with East West Bank, providing $50 million initial commitment with potential expansion to $200 million.
Strong Portfolio Composition
Residential sector comprises 75% of the portfolio with no exposure to office properties, and all loans are current and performing.
Net Interest Income and Distributable Earnings
Generated net interest income of $3.2 million and distributable earnings of $1.9 million or $0.27 per share.