Granite Point Mortgage Trust Inc. Announces Closing of $621 Million Commercial Real Estate CLO

Nov 16, 2021

Granite+Point+Mortgage+Trust+Inc. (NYSE: GPMT) (“GPMT,” “Granite Point” or the “Company”) today announced the closing of GPMT 2021-FL4, a $621 million managed Commercial Real Estate Collateralized Loan Obligation (“CRE CLO”), in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). $503 million of investment grade securities have been placed with institutional investors, providing GPMT with term-matched financing on a non-mark-to-market and non-recourse basis. GPMT 2021-FL4 features an initial advance rate of 80.875%, and a weighted-average interest rate at issuance of LIBOR + 1.68%, before accounting for transaction costs.

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