Franklin BSP Realty Trust
Franklin BSP Realty Trust, Inc. is a real estate investment trust (REIT) that focuses on the origination, acquisition, and management of commercial real estate debt and multifamily finance products. The company generates value through interest income from its lending portfolio and fee-based income from its agency servicing and origination activities. It is externally managed by Benefit Street Partners L.L.C., a subsidiary of Franklin Templeton.
Financials
Based on Q1 2026 filing
Business Segments
Commercial Real Estate Financing
primaryThis unit focuses on originating and managing a diverse portfolio of commercial real estate debt investments and securities. It also includes conduit lending activities intended for securitization and the management of real estate owned through foreclosure.
First Mortgage Loans, Subordinated Mortgage Loans, B-notes, Mezzanine Loans, Bridge Loans, Conduit Loans, CMBS Bonds, CDO Notes
Commercial real estate borrowers, Institutional investors, CMBS securitization trusts
Agency Business
majorOperated through NewPoint, this unit originates, sells, and services multifamily finance products under programs offered by government-sponsored enterprises and agencies. The company retains servicing rights and asset management responsibilities for the loans it originates.
Fannie Mae DUS Loans, Freddie Mac Program Plus Loans, HUD MAP Loans, Ginnie Mae Securities, Loan Servicing
Multifamily property owners, Government-sponsored enterprises, Government agencies
Segment Financials
Real Estate Debt and Other Real Estate Investments — Interest Income
View metricConduit — Interest Income
View metricReal Estate Debt and Other Real Estate Investments — Servicing revenue
View metricAgency Business — Servicing revenue
View metricAgency Business — Mortgage servicing rights
View metricAgency Business — Revenue from real estate owned
View metricBusiness Overview
Competitive Position
A specialized mortgage REIT leveraging the broader credit platform of Franklin Templeton to source and underwrite diverse CRE debt.
Geographies
United States
Customer Segments
Commercial borrowers, Institutional investors, Government-sponsored enterprises
Upstream Dependencies
Capital markets, Repurchase agreement providers, External investment advisory services
Downstream Customers
Commercial real estate developers, Multifamily property investors, GSEs, Institutional bond buyers
Competitors & Partners
Competitors
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Partners
Benefit Street Partners L.L.C.
External advisor managing day-to-day operations and investment decisions
Franklin Resources
BEN
Parent company of the Advisor, operating as Franklin Templeton
Ginnie Mae
Government agency for mortgage-backed securities
Subsidiaries
NewPoint Holdings JV LLC
Wholly owned subsidiary comprising the Agency Business unit
FBRT OP LLC
The operating partnership through which substantially all business is conducted
Franklin BSP Realty Trust FAQ
Common questions about Franklin BSP Realty Trust
Franklin BSP Realty Trust, Inc. is a real estate investment trust (REIT) that focuses on the origination, acquisition, and management of commercial real estate debt and multifamily finance products. The company generates value through interest income from its lending portfolio and fee-based income from its agency servicing and origination activities. It is externally managed by Benefit Street Partners L.L.C., a subsidiary of Franklin Templeton.
Franklin BSP Realty Trust (FBRT) has a market capitalization of $665.0M and trades on NYSE.
Franklin BSP Realty Trust generated $289.4M in trailing twelve-month revenue with net income of $70.2M, representing a net margin of 24.3%. These figures are based on the Q1 2026 filing.
Franklin BSP Realty Trust's key competitors include Arbor Realty Trust, Inc., Blackstone Mortgage Trust, Inc., Starwood Property Trust, Inc., and others. These companies compete in similar markets and product categories.