BrightSpire Capital, Inc. (BRSP) SEC Filings

CWRE SSF Securities Holding, LP and related entities report beneficial ownership of BrightSpire Capital, Inc. Class A Common Stock. They collectively report 10,812,258 shares, representing 8.6% of the Class A common stock based on 126,524,180 shares outstanding as of July 28, 2026. The shares are held with shared voting and dispositive power and no sole voting or dispositive power. CWRE Special Situations Fund GP, LLC is general partner of CWRE SSF Securities Holding, LP, CW Investment Advisers, LLC is investment manager with discretionary authority, and Hon Kit Shing, as sole director/manager, could be deemed a beneficial owner. This Amendment No. 2 is filed solely to correct the name of one reporting person to "CW Investment Advisers, LLC"; all other previously reported ownership information remains unchanged.

BrightSpire Capital, Inc. has a significant shareholder group led by CWRE SSF Securities Holding, LP and related entities, which collectively report beneficial ownership of 10,812,258 shares of Class A common stock. This represents 8.6% of the outstanding Class A common stock of BrightSpire Capital, Inc.

The ownership is reported on a shared basis, with 0 shares having sole voting or dispositive power and 10,812,258 shares subject to shared voting and shared dispositive power for each reporting person. The percentage is based on 126,524,180 Class A shares outstanding as of July 28, 2026, as reported in BrightSpire Capital, Inc.'s Quarterly Report for the period ended June 30, 2026. The filing is made jointly by CWRE SSF Securities Holding, LP, CWRE Special Situations Fund GP, LLC, CW Investment Advisers, LLC and Hon Kit Shing, who each may be deemed to share beneficial ownership of these shares.

BrightSpire Capital, Inc. Class A common stock is reported as being held by investment entities affiliated with Nut Tree Capital. As of June 30, 2026, Nut Tree Capital Management, LP, Nut Tree Capital Management GP, LLC, and Jared R. Nussbaum may be deemed the beneficial owners of 1,937,826 shares, representing approximately 1.5% of the outstanding Class A common stock. The shares are held by Nut Tree Master Fund, LP, for which Nut Tree Capital Management acts as investment adviser. The Reporting Persons have shared voting and dispositive power over 1,937,826 shares and no sole voting or dispositive power, and now report ownership of 5 percent or less of this class.

Vanguard Capital Management filed an amended Schedule 13G reporting beneficial ownership in BrightSpire Capital Inc common stock. Vanguard reports beneficial ownership of 6,482,266 shares, representing 4.97% of the outstanding common stock. Vanguard has sole voting power over 980,134 shares and sole dispositive power over all 6,482,266 shares, with no shared voting or dispositive power. The filing aggregates holdings across Vanguard Capital Management LLC and specified affiliated entities and accounts, and states that no other single person’s interest in these securities exceeds 5% of the class.

BrightSpire Capital, a commercial real estate credit REIT, reported consolidated assets of $3,747,733 thousand at June 30, 2026. The balance sheet is dominated by loans and preferred equity held for investment, net of $2,795,005 thousand, plus real estate, net of $450,338 thousand and assets held for sale of $248,418 thousand. Total stockholders’ equity was $862,980 thousand, with 126,789,991 Class A common shares outstanding.

For the quarter, net loss attributable to common stockholders was $18,334 thousand, or $0.15 per basic and diluted share, improving from a loss of $23,118 thousand, or $0.19 per share, a year earlier. Net interest income rose slightly to $17,229 thousand, while property operating income declined to $30,435 thousand from $35,670 thousand. Expenses included an increase of current expected credit loss reserve of $13,502 thousand and impairment of operating real estate of $9,270 thousand, down from $51,127 thousand in the prior-year quarter.

Operating activities provided $40,341 thousand of cash in the first six months of 2026. Investing activities used $247,315 thousand as the company originated or funded $559,455 thousand of new loans and preferred equity and received $292,980 thousand of repayments, while also acquiring a multifamily property through foreclosure. Financing activities provided $202,859 thousand, including net activity under securitization bonds and credit facilities together with common dividends and share repurchases.

BrightSpire Capital, Inc. reported second quarter 2026 results with a GAAP net loss attributable to common stockholders of ($18.3 million), or ($0.15) per share. Non-GAAP metrics were stronger, with Distributable Earnings of $15.8 million ($0.12 per share) and Adjusted Distributable Earnings of $16.8 million ($0.13 per share). GAAP net book value was $6.81 per share, and undepreciated book value was $8.10 per share as of June 30, 2026.

The commercial real estate loan portfolio totaled $2.9 billion across 106 loans with a weighted average unlevered all-in yield of 7.2% and a predominantly floating-rate profile. BrightSpire achieved $196 million of positive net deployment in the quarter, committing $319 million across 10 new senior loans and receiving $123 million of repayments. Total liquidity was $131 million, debt-to-equity was 2.7x, and the blended all-in cost of financing was 5.50%.

Credit quality indicators included a general CECL reserve of $99.7 million, or $0.79 per share (327 bps), and watch list loans of $136 million, or 5% of the loan portfolio. The company owned six REO assets totaling $330 million and executed contracts to sell two multifamily REO properties and an industrial net lease asset for a $300 million gross sales price, with the buyer assuming a $200 million mortgage. BrightSpire repurchased 3.8 million shares for $21.0 million at an average price of $5.46 and paid a second-quarter dividend of $0.16 per share.

BrightSpire Capital, Inc. has agreed to sell its “Net Lease 1 Investment,” two industrial properties in Tolleson, Arizona and Tracy, California, for a total purchase price of $300,000,000. The buyers, ALTOAZ001 LLC and ALTRCA001 LLC, will pay the price at closing and must post a $6,000,000 earnest money deposit within three business days of the effective date.

The transaction is expected to close by September 14, 2026, subject to several conditions, including the buyers’ assumption of existing mortgage and mezzanine loans with lender approval, so completion is not assured. As of March 31, 2026, the investment had a GAAP carrying value of about $239 million and an undepreciated carrying value of about $306 million, both including roughly $14 million of straight-line rent receivable. This prospective sale continues BrightSpire’s plan to rotate out of owned real estate and focus on first mortgage loans.

SCHWARTZ VERNON B reported acquisition or exercise transactions in this Form 4 filing.

BrightSpire Capital, Inc. director Vernon B. Schwartz received a grant of 22,085 shares of Class A common stock as 2026 annual equity consideration under the company’s non-executive director compensation policy. The award carries no cash cost to him and increases his direct holdings to 139,580 shares.

The granted shares will vest on May 20, 2027, meaning Schwartz must remain eligible through that date to fully earn the equity. This is a routine compensation-related equity award rather than an open-market stock purchase or sale.

Long Catherine F. reported acquisition or exercise transactions in this Form 4 filing.

BrightSpire Capital, Inc. director Catherine F. Long received a grant of 22,085 shares of Class A common stock as part of her 2026 annual equity consideration under the company’s non-executive director compensation policy. These shares will vest on May 20, 2027, and her direct holdings after this grant total 92,210 shares.