Two New Finance REITs Launch
September 20, 2017 | Mark Heschmeyer | CoStar.com
The ranks of alternative CRE lenders continue to grow as two new REITs launched this week: FS Credit Real Estate Income Trust, a nontraded REIT, and Tremont Mortgage Trust, publicly traded on the Nasdaq Exchange.
FS Credit REIT
FS Credit Real Estate Income Trust commenced operations and cut its first two deals. The nontraded REIT continues to offer shares seeking to raise a maximum amount of $2.75 billion.
Already this week, Philadelphia-based FS Credit REIT closed a $34.31 million senior floating-rate mortgage loan secured by a portfolio of seven office buildings totaling 492,559 square feet in Memphis, TN, adjacent to the Federal Express Corp. world headquarters and Southwind PGA Golf Course.
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