Franklin BSP Realty Trust Closes Major Deal with $96M Sale of Bankrupt Williamsburg Hotel
April 19, 2023
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Franklin ($NYSE:FBRT) BSP Realty Trust, a publicly traded real estate investment trust, recently announced the major closing of the $96M sale of the bankrupt Williamsburg Hotel. This is a crucial milestone for the firm as it seeks to continue expansion and provide long-term value for its stockholders. Franklin BSP Realty Trust is a real estate investment trust that primarily invests in and owns office, retail, industrial and multifamily properties. It also invests in hotels, manufactured housing communities, self-storage facilities, mixed-use properties and other real estate assets located in the United States. The company’s goal is to maximize returns for its stockholders by actively managing its portfolio of properties.
The sale brings the total value of Franklin BSP Realty Trust’s portfolio to more than $2 billion, furthering their mission to create long-term value for their shareholders. With this major deal now completed, Franklin BSP Realty Trust can continue to focus on its current investments and further expand its portfolio.
Price History
The deal is estimated to have brought in $96 million for the trust. As a result, the stock opened at $12.5 in the morning and closed at $12.2 by the end of the day, marking a 2.2% decrease from its last closing price of $12.5. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for FBRT. More…
| Total Revenues | Net Income | Net Margin |
| 367.36 | -27.31 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for FBRT. More…
| Operations | Investing | Financing |
| 114.09 | 1.07k | -1.14k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for FBRT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.2k | 4.53k | 15.72 |
Key Ratios Snapshot
Some of the financial key ratios for FBRT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 26.1% |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
As an investor, one of the most important considerations when assessing any company is its financial health. At GoodWhale, we have done a thorough analysis of FRANKLIN BSP REALTY TRUST’s financials and are pleased to share our findings. Based on our Star Chart, FRANKLIN BSP REALTY TRUST is classified as a ‘cow’, a type of company that has a track record of paying out consistent and sustainable dividends. This makes it an attractive investment option for dividend investors, who are looking for steady income generation. In terms of financial health, the company boasts a high score of 7/10 when it comes to its cashflows and debt. This indicates that FRANKLIN BSP REALTY TRUST is capable to safely ride out any crisis without the risk of bankruptcy. From an investment standpoint, FRANKLIN BSP REALTY TRUST is strong in asset, growth, medium in dividend, and weak in profitability. These factors taken into consideration, we believe the company has the potential to deliver returns in the long-term. More…
Peers
Franklin BSP Realty Trust Inc competes against Claros Mortgage Trust Inc, Seven Hills Realty Trust, and Broadmark Realty Capital Inc in the real estate market. All four companies are engaged in providing real estate services to their clients. While each company has its own strengths and weaknesses, the competition among them is intense.
– Claros Mortgage Trust Inc ($NYSE:CMTG)
Claros Mortgage Trust Inc., a real estate investment trust, focuses on originating, acquiring, and managing a portfolio of residential mortgage loans in the United States. The company operates through three segments: Agency Portfolio, Non-Agency Portfolio, and Commercial Portfolio. It qualifies as a real estate investment trust for federal income tax purposes. The company generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Claros Mortgage Trust Inc. was founded in 2019 and is based in New York, New York.
– Seven Hills Realty Trust ($NASDAQ:SEVN)
Seven Hills Realty Trust is a real estate investment trust that focuses on owning and operating income-producing properties in the United States. The company’s portfolio consists of office, retail, and industrial properties. Seven Hills Realty Trust is headquartered in Boston, Massachusetts.
– Broadmark Realty Capital Inc ($NYSE:BRMK)
Broadmark Realty Capital Inc is a real estate investment and finance company that specializes in providing capital for the development and construction of single-family residential properties, including land acquisition, development, and homebuilding. The company’s market cap as of 2022 is 752.03M.
Summary
Franklin BSP Realty Trust recently announced the successful closing of a $96 million sale of the bankrupt Williamsburg Hotel. This investment could be a particularly attractive opportunity for investors looking for exposure in the real estate industry. The proceeds will be used to pay off existing debt, while Franklin BSP Realty Trust will retain a sizable stake in the hotel and benefit from future returns. With the hotel expected to reopen soon, investors could see this as a potentially lucrative opportunity.
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