Granite Point Mortgage Trust Inc. Announces $269 million Refinancing of Legacy CRE CLO

Mar 22, 2023

%3Cb%3EGranite+Point+Mortgage+Trust+Inc.%3C%2Fb%3E (NYSE: GPMT) (“GPMT,” “Granite Point” or the “Company”) today announced that it refinanced approximately $269 million of senior loans that had been previously financed through the GPMT 2019-FL2 CRE CLO, which had been significantly de-levered through loan repayments. This transaction generated approximately $85 million in net proceeds to the Company after repaying approximately $98 million of borrowings outstanding under the legacy CLO facility. As part of the above-mentioned refinancing, the Company increased borrowing capacity on its repurchase financing facility with JPMorgan to $425 million. As of March 22, 2023, GPMT held approximately $218 million in unrestricted cash.

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