REITs - Office & Mortgage

credit / rates affecting interest expense

“Interest expense on real estate Interest expense on real estate decreased by $0.1 million to $5.1 million for the three months ended March 31, 2026, as compared to the three months ended December 31, 2025 due to quarterly amortization.”

BRSP 10-Q

credit / rates

“Financing activities generated net cash of $68.9 million for the year ended December 31, 2025, which resulted primarily from borrowings from master repurchase and credit facilities of $615.0 million partially offset by repayment of master repurchase and credit facilities of $322.1 million, repayment of securitization bonds of $112.3 million and distributions paid on common stock of $83.0 million.”

BRSP 10-K

restructuring affecting expense

“amortization 36,206 40,381 33,321 Impairment of operating real estate 61,620 54,211 7,590 Operating expense 40 64 95 Other loss on investments, net 2,245 682 1,660 Income tax (benefit) expense (21,761) 961 527 NOI attributable to noncontrolling interest in investment entities (791) (1,216) (1,204) Total NOI attributable to BrightSpire Capital, Inc. common stockholders $ 61,295 $ 67,680 $ 66,503 ________________________________________ (1) Net (income) loss attributable to non-net leased and other real estate portfolios includes net (income) loss on our senior and mezzanine loans and preferred equity and corporate and other business segments.”

BRSP 10-K