Shopoff Realty Investments Secures $17.815 Million Refinance for Cierra Apartments in Whittier, CA

Rhea-AI Summary

BrightSpire Capital (NYSE: BRSP) provided a $17.815 million senior mortgage for Cierra Apartments, a 60-unit multifamily property in Whittier, California, financed through a Shopoff Realty Investments project refinance dated Dec. 2, 2025. The loan was brokered by JLL Capital Markets and advised by Jamie Kline and Kyle White.

Cierra Apartments, developed on a 2.8-acre infill site acquired in 2017, completed in 2023 and is currently 91% leased. Shopoff says the refinance gives management additional flexibility to operate the stabilized asset and prepare it for sale.

News Market Reaction

+0.71%

1 alert

+0.71% News Effect

On the day this news was published, BRSP gained 0.71%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Cierra refinance: $17.815 million Unit count: 60 units Site size: 2.8 acres +5 more

8 metrics

Cierra refinance $17.815 million Senior mortgage financing for Cierra Apartments

Unit count 60 units Multifamily property size (Cierra Apartments)

Site size 2.8 acres Infill site acquired in 2017 for redevelopment

Occupancy 91% leased Current leasing status of Cierra Apartments

Credit facility commitment $120.0 million Aggregate principal commitment under main revolving credit facility

Upsize option $180.0 million Maximum principal amount if facility is increased

SOFR margin 2.25% Interest margin over Term SOFR on revolving credit facility borrowings

Facility maturity December 8, 2028 Maturity date for revolving loans under credit facility

Market Reality Check

Price: $6.00 Vol: Volume 603,081 is below t...

normal vol

$6.00 Last Close

Volume Volume 603,081 is below the 20-day average of 744,185, suggesting no unusual trading activity before this refinance news. normal

Technical Shares at $5.93 were trading above the 200-day MA of $5.37, indicating a pre-existing upward bias ahead of the announcement.

Peers on Argus

BRSP was up 0.85% while key mortgage REIT peers showed mixed moves (e.g., TRTX d...

BRSP was up 0.85% while key mortgage REIT peers showed mixed moves (e.g., TRTX down, RWT/FBRT/KREF/RC up). The modest gain appears more stock-specific than part of a broad sector rotation.

Historical Context

5 past events · Latest: Dec 02 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 02	Loan refinance deal	Neutral	+0.7%	Announced $17.815M senior mortgage on 60-unit Cierra Apartments refinance.
Oct 28	Q3 2025 earnings	Neutral	-0.6%	Reported small GAAP profit, Distributable and Adjusted Distributable Earnings for Q3.
Oct 01	Earnings call timing	Neutral	-0.4%	Set Q3 2025 earnings release and conference call dates for late October.
Sep 15	Dividend declaration	Neutral	-1.7%	Declared Q3 2025 cash dividend of $0.16 per share payable Oct. 15.
Jul 29	Q2 2025 earnings	Neutral	+4.6%	Reported Q2 GAAP loss but positive Adjusted Distributable Earnings and portfolio de-risking.

Pattern Detected

Recent BRSP news events, including earnings, dividends, and financing updates, have generally led to modest, directionally consistent price moves rather than sharp dislocations.

Recent Company History

Over the last few months, BrightSpire Capital has focused on balance sheet and earnings visibility. Q2 and Q3 2025 results highlighted GAAP volatility but steady Adjusted Distributable Earnings and recurring dividends of $0.16 per share. The latest refinance news on Dec. 2, 2025 adds a new senior mortgage investment of $17.815 million, consistent with its commercial real estate credit strategy and prior portfolio updates.

Market Pulse Summary

This announcement highlights BRSP’s role in originating a $17.815 million senior mortgage for a 60‑u...

Analysis

This announcement highlights BRSP’s role in originating a $17.815 million senior mortgage for a 60‑unit, 91%-leased multifamily property, consistent with its commercial real estate credit focus. Recent filings describe a $120.0 million revolving credit facility and evolving earnings profile, including credit loss reserves and impairments. Investors may watch future originations, asset quality metrics, and leverage under the credit facility for insight into risk-adjusted growth.

Key Terms

senior mortgage financing, revolving credit facility, letters of credit, Term SOFR, +3 more

7 terms

senior mortgage financing financial

"secured $17.815 million in senior mortgage financing for its 60-unit"

A senior mortgage financing is a loan secured by real estate that has the highest priority claim on the property if the borrower defaults, meaning its lender gets paid before other creditors. For investors, that priority acts like being first in line for repayment, typically making the loan lower risk and influencing interest rate, expected returns, and how safe related securities or company finances appear.

revolving credit facility financial

"The lenders provide a revolving credit facility with an aggregate"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

letters of credit financial

"including up to $25.0 million available as letters of credit, with"

A letter of credit is a promise from a bank to pay a seller if the buyer fails to do so, commonly used in trade and large contracts to ensure payment. Think of it as a bank standing in for the buyer, like a certified check or payment insurance that reduces the risk of nonpayment. For investors, letters of credit matter because they affect a company’s cash flow, borrowing needs and contingent liabilities, and signal how much credit support a business requires to secure deals.

Term SOFR technical

"Borrowings bear interest at either a Term SOFR-based rate plus a"

Term SOFR is a benchmark interest rate that reflects the cost of borrowing money over a specific period, based on actual transactions in the financial markets. It is used by lenders and borrowers to set the interest rates on loans and financial contracts, helping to ensure rates are fair and transparent. For investors, understanding term SOFR helps gauge borrowing costs and the overall direction of interest rates in the economy.

base rate financial

"rate plus a 2.25% margin or a base rate plus a 1.25% margin"

The base rate is the primary interest rate set by a central authority or used as a benchmark for pricing loans, savings and other financial products. Think of it as the anchor in a floating system: when the base rate moves, borrowing costs, corporate financing and consumer spending tend to shift too, which can change company profits and investor returns across the market.

unused commitment fee financial

"with an unused commitment fee of 0.25% or 0.35% per year"

A fee charged by a lender on the portion of a credit line or loan facility that a borrower has not drawn down. It is like paying a monthly standby charge for the unused part of a company’s credit card; it reduces net cash available and raises the effective cost of keeping a backup source of funds, while providing steady income to the lender. Investors watch it because recurring unused fees affect a company’s interest expense, liquidity management, and the attractiveness of open credit capacity.

consolidated total debt to consolidated total assets ratio financial

"a maximum consolidated total debt to consolidated total assets ratio of 0.80"

Consolidated total debt to consolidated total assets ratio is a measure of how much of a company’s combined balance sheet is funded by debt, calculated by dividing all interest-bearing liabilities by the total value of all assets across the company and its subsidiaries. Investors use it like a debt-to-value percentage — similar to a mortgage share of a house’s value — to gauge financial risk, solvency and how much breathing room a company has to withstand setbacks or borrow more.

AI-generated analysis. Not financial advice.

WHITTIER, Calif., Dec. 2, 2025 /PRNewswire/ -- Shopoff Realty Investments ("Shopoff"), a national manager of opportunistic and value-add real estate investments, announced today that it has secured $17.815 million in senior mortgage financing for its 60-unit multifamily property, Cierra Apartments, in Whittier, California. A finance subsidiary of BrightSpire Capital (NYSE: BRSP) provided the senior loan brokered by JLL Capital Markets.

"When we first acquired the site in 2017, our firm began exploring how we could elevate the former industrial property to its full potential, positively impacting the surrounding community. In the years since we developed Cierra Apartments, this project has been successfully completed and stabilized, achieving full lease up within its first year," said Shopoff Realty Investments President and CEO William A. Shopoff. "With this refinance in place, our management team is now better positioned to operate Cierra Apartments, providing us additional flexibility to manage cash flows and prepare the project for sale."

In 2017, Shopoff acquired a 2.8-acre infill site that included a car wash and industrial buildings. With residential demand continuing to increase in the area, Shopoff saw a multifamily development as a much-needed addition to the community, bringing new housing to the Southeast Los Angeles submarket. Shopoff secured city approval for the multifamily project in 2018.

The firm developed the site into Cierra Apartments, a 60-unit boutique apartment complex offering one- and two-bedroom units, which was completed in 2023. The property features upscale amenities, including a clubhouse, fitness center, pool, and spa. The community also provides convenient access to some of Los Angeles' most vibrant employment centers and major transportation corridors. The property is currently 91% leased.

Financing for the project was secured with support from JLL Capital Markets. The JLL Capital Markets debt advisory team representing the borrower was led by Senior Director Jamie Kline and Associate Kyle White.

About Shopoff Realty Investments

Shopoff Realty Investments is an Irvine, California-based real estate firm with a 33-year history of value-add and opportunistic investing across the United States. The company primarily focuses on proactively generating appreciation through the repositioning of commercial income-producing properties, the entitlement of land assets, and development projects. The 33-year history includes operating as Asset Recovery Fund, Eastbridge Partners, and Shopoff Realty Investments (formerly known as The Shopoff Group). Performance has varied in this time frame, with certain offerings generating losses. For additional information, please visit www.shopoff.com or call (844) 4-SHOPOFF.

Disclosures

This is not an offering to buy or sell any securities. Such an offer may only be made through the offering memorandum to qualified purchasers. Any investment in Shopoff Realty Investments programs involves substantial risks and is suitable only for investors who have no need for liquidity and who can bear the loss of their entire investment. There is no assurance that any strategy will succeed to meet its investment objectives. The performance of this asset is not indicative of future results of other assets. Securities are offered through Shopoff Securities, Inc. member FINRA/SIPC, 18565 Jamboree Road, Suite 200, Irvine, CA 92612.

Contact:
Jill Swartz 
Spotlight Marketing
Communications
949.427.1389
jill@spotlightmarcom.com

 

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SOURCE Shopoff Realty Investments

FAQ

What refinancing did BrightSpire Capital (BRSP) provide on Dec. 2, 2025?

BrightSpire Capital provided a $17.815 million senior mortgage for Cierra Apartments in Whittier, CA.

How large is Cierra Apartments and when was it completed?

Cierra Apartments is a 60-unit boutique multifamily property completed in 2023.

What is the current occupancy of Cierra Apartments mentioned in the Dec. 2, 2025 announcement?

The property is currently reported as 91% leased.

Who brokered the Cierra Apartments loan and which advisors represented the borrower?

JLL Capital Markets brokered the loan; JLL's debt advisory team was led by Jamie Kline and Kyle White.

Why did Shopoff Realty Investments say it completed the refinance for Cierra Apartments?

Shopoff said the refinance provides additional flexibility to manage cash flows and to prepare the stabilized project for sale.