Liquidating distribution

BrightSpire Capital, Inc. Announces Third Quarter 2023 Financial Results

Retrieved on: 
Monday, October 30, 2023

BrightSpire Capital, Inc. (NYSE: BRSP) (“BrightSpire Capital” or the “Company”) today announced its financial results for the third quarter ended September 30, 2023 and certain updates.

Key Points: 
  • BrightSpire Capital, Inc. (NYSE: BRSP) (“BrightSpire Capital” or the “Company”) today announced its financial results for the third quarter ended September 30, 2023 and certain updates.
  • A reconciliation to net income/(loss) attributable to BrightSpire Capital common stockholders, the most directly comparable GAAP measure, is included in our full detailed Third Quarter 2023 Supplemental Financial Report and is available on our website at www.brightspire.com .
  • The Company will conduct a conference call to discuss the financial results on October 31, 2023 at 11:00 a.m.
  • Previously, on June 16, 2023, the Company’s Board of Directors declared a quarterly cash dividend of $0.20 per share to holders of Class A common stock for the second quarter of 2023, which was paid on July 14, 2023, to common stockholders of record on June 30, 2023.

Blackstone Mortgage Trust Reports Third Quarter 2023 Results

Retrieved on: 
Wednesday, October 25, 2023

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) today reported its third quarter 2023 results.

Key Points: 
  • Blackstone Mortgage Trust, Inc. (NYSE:BXMT) today reported its third quarter 2023 results.
  • Net income attributable to Blackstone Mortgage Trust for the third quarter was $30 million.
  • We believe the steps we have taken to proactively manage the portfolio and our balance sheet position us well to navigate volatility and capitalize on an opportunistic environment ahead.”
    Blackstone Mortgage Trust issued a full presentation of its third quarter 2023 results, which can be viewed at www.bxmt.com .
  • Blackstone Mortgage Trust will host a conference call today at 9:00 a.m.

Western Asset Announces New Partnership with Mischler Financial Group

Retrieved on: 
Wednesday, October 18, 2023

Franklin Templeton announced the launch of Mischler Financial Group branded share classes in two Cayman Islands-based institutional money market funds sub-advised by Western Asset Management.

Key Points: 
  • Franklin Templeton announced the launch of Mischler Financial Group branded share classes in two Cayman Islands-based institutional money market funds sub-advised by Western Asset Management.
  • The new share classes represent a partnership between Western Asset and Mischler Financial Group that aims to support their mutual corporate clients’ objectives of maximizing their positive social impact through partnering with minority, women and disabled-veteran broker dealers.
  • The share classes are available for investment by non-U.S.-based institutional shareholders through Mischler Financial Group and its affiliates and are intended as cash management solutions for non-U.S.-based shareholders, including corporate treasury and other qualifying institutional investors.
  • Matt Jones, Head of Liquidity Distribution at Western Asset, said: “We are excited to have been selected as the exclusive offshore money market fund provider to Mischler Financial Group’s clients.

LMP Automotive Holdings, Inc. today announced it will issue a shareholder liquidation distribution of $1.50 per share on September 8, 2023, to all shareholders as of record of August 31, 2023 and Provided a Corporate Update

Retrieved on: 
Thursday, August 31, 2023

FORT LAUDERDALE, Aug. 31, 2023 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (“LMP” or the “Company”), an e-commerce and facilities-based automotive retailer in the United States, today announced it will issue a liquidating shareholder distribution of $1.50 per share on or about September 8, 2023, to all shareholders of record as of August 31, 2023 (the “Liquidation Distribution”) and provided a corporate update.

Key Points: 
  • FORT LAUDERDALE, Aug. 31, 2023 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (“LMP” or the “Company”), an e-commerce and facilities-based automotive retailer in the United States, today announced it will issue a liquidating shareholder distribution of $1.50 per share on or about September 8, 2023, to all shareholders of record as of August 31, 2023 (the “Liquidation Distribution”) and provided a corporate update.
  • The Company further announced that on August 9, 2023, the Company filed a Certificate of Dissolution with the State of Delaware as the Company moves forward to complete and finalize its final liquidation (the “Certificate of Dissolution”).
  • After the payment of the foregoing costs and resolution of any contingent, conditional or unmatured contractual claims currently known to the Company, the Company anticipates that it will make another liquidating distribution to its shareholders payable upon surrender of the shares.
  • Although the Company cannot project how much cash, if any, will remain after the completion of the final dissolution, the Company expects to issue another liquidating distribution  in the first quarter of 2024.

BrightSpire Capital, Inc. Announces Second Quarter 2023 Financial Results

Retrieved on: 
Wednesday, August 2, 2023

BrightSpire Capital, Inc. (NYSE: BRSP) (“BrightSpire Capital” or the “Company”) today announced its financial results for the second quarter ended June 30, 2023 and certain updates.

Key Points: 
  • BrightSpire Capital, Inc. (NYSE: BRSP) (“BrightSpire Capital” or the “Company”) today announced its financial results for the second quarter ended June 30, 2023 and certain updates.
  • A Second Quarter 2023 Supplemental Financial Report is available on the Shareholders – Events and Presentations section of the Company’s website at www.brightspire.com .
  • A reconciliation to net income/(loss) attributable to BrightSpire Capital common stockholders, the most directly comparable GAAP measure, is included in our full detailed Second Quarter 2023 Supplemental Financial Report and is available on our website at www.brightspire.com .
  • The Company will conduct a conference call to discuss the financial results on August 2, 2023 at 10:00 a.m.

Ares Commercial Real Estate Corporation Reports Second Quarter 2023 Results

Retrieved on: 
Wednesday, August 2, 2023

Ares Commercial Real Estate Corporation (the “Company”) (NYSE:ACRE), a specialty finance company engaged in originating and investing in commercial real estate assets, reported generally accepted accounting principles (“GAAP”) net loss of $2.2 million or $0.04 per diluted common share and Distributable Earnings(1) of $19.0 million or $0.35 per diluted common share for the second quarter of 2023.

Key Points: 
  • Ares Commercial Real Estate Corporation (the “Company”) (NYSE:ACRE), a specialty finance company engaged in originating and investing in commercial real estate assets, reported generally accepted accounting principles (“GAAP”) net loss of $2.2 million or $0.04 per diluted common share and Distributable Earnings(1) of $19.0 million or $0.35 per diluted common share for the second quarter of 2023.
  • “Our second quarter 2023 results demonstrate that our portfolio continues to benefit from higher interest, with our $0.35 of Distributable Earnings per diluted common share fully covering our regular and supplemental dividends for the quarter,” said Bryan Donohoe, Chief Executive Officer of Ares Commercial Real Estate Corporation.
  • Given our strong liquidity position, during the second quarter, we bought back approximately 1.0% of our outstanding common shares at an average price of $8.58 per common share.”
    “We continued to operate with a healthy balance sheet and significant available liquidity throughout the second quarter,” said Tae-Sik Yoon, Chief Financial Officer of Ares Commercial Real Estate Corporation.
  • The second quarter 2023 dividend and supplemental cash dividend were paid on July 18, 2023 to common stockholders of record as of June 30, 2023.

Blackstone Mortgage Trust Reports Second Quarter 2023 Results

Retrieved on: 
Wednesday, July 26, 2023

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) today reported its second quarter 2023 results.

Key Points: 
  • Blackstone Mortgage Trust, Inc. (NYSE:BXMT) today reported its second quarter 2023 results.
  • Net income attributable to Blackstone Mortgage Trust for the second quarter was $102 million.
  • Second quarter EPS, Distributable EPS, and dividends paid per basic share were $0.59, $0.79, and $0.62, respectively.
  • With record liquidity and a well-structured balance sheet, we believe we are on strong footing to navigate the period ahead.”
    Blackstone Mortgage Trust issued a full presentation of its second quarter 2023 results, which can be viewed at www.bxmt.com .

Ares Commercial Real Estate Corporation Reports First Quarter 2023 Results

Retrieved on: 
Tuesday, May 2, 2023

Ares Commercial Real Estate Corporation (the “Company”) (NYSE:ACRE), a specialty finance company engaged in originating and investing in commercial real estate assets, reported generally accepted accounting principles (“GAAP”) net loss of $6.4 million or $0.12 per diluted common share and Distributable Earnings(1) of $15.1 million or $0.27 per diluted common share for the first quarter of 2023.

Key Points: 
  • Ares Commercial Real Estate Corporation (the “Company”) (NYSE:ACRE), a specialty finance company engaged in originating and investing in commercial real estate assets, reported generally accepted accounting principles (“GAAP”) net loss of $6.4 million or $0.12 per diluted common share and Distributable Earnings(1) of $15.1 million or $0.27 per diluted common share for the first quarter of 2023.
  • “Our results this quarter demonstrated not only another period of healthy investment returns as we benefited from higher interest rates, but also solid progress with respect to resolving watch list assets,” said Bryan Donohoe, Chief Executive Officer of Ares Commercial Real Estate Corporation.
  • The first quarter 2023 dividend and supplemental cash dividend were paid on April 18, 2023 to common stockholders of record as of March 31, 2023.
  • The second quarter 2023 dividend and supplemental cash dividend will be payable on July 18, 2023 to common stockholders of record as of June 30, 2023.

Blackstone Mortgage Trust Reports First Quarter 2023 Results

Retrieved on: 
Wednesday, April 26, 2023

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) today reported its first quarter 2023 results.

Key Points: 
  • Blackstone Mortgage Trust, Inc. (NYSE:BXMT) today reported its first quarter 2023 results.
  • Net income attributable to Blackstone Mortgage Trust for the first quarter was $118 million.
  • With a well-structured balance sheet and substantial liquidity, BXMT is strategically positioned to navigate the current environment.”
    Blackstone Mortgage Trust issued a full presentation of its first quarter 2023 results, which can be viewed at www.bxmt.com .
  • Blackstone Mortgage Trust will host a conference call today at 9:00 a.m.

BrightSpire Capital, Inc. Announces Fourth Quarter & Full Year 2022 Financial Results

Retrieved on: 
Tuesday, February 21, 2023

BrightSpire Capital, Inc. (NYSE: BRSP) (“BrightSpire Capital” or the “Company”) today announced its financial results for the fourth quarter and full year ended December 31, 2022, and certain updates.

Key Points: 
  • BrightSpire Capital, Inc. (NYSE: BRSP) (“BrightSpire Capital” or the “Company”) today announced its financial results for the fourth quarter and full year ended December 31, 2022, and certain updates.
  • The Company reported GAAP net book value of $10.77 per share and undepreciated book value of $12.06 per share as of December 31, 2022.
  • A reconciliation to net income/(loss) attributable to BrightSpire Capital common stockholders, the most directly comparable GAAP measure, is included in our full detailed Fourth Quarter 2022 Supplemental Financial Report and is available on our website at www.brightspire.com .
  • The Company will conduct a conference call to discuss the financial results on February 21, 2023 at 10:00 a.m.