FS Credit Real Estate reallocates $15M offering

FS Credit Real Estate Income Trust, Inc. amends its prospectus to reallocate offering capacity between its primary offering and its distribution reinvestment plan.

Rhea-AI Filing Summary

FS Credit Real Estate Income Trust, Inc. amends its prospectus to reallocate offering capacity between its primary offering and its distribution reinvestment plan. Effective May 27, 2026, $15,000,000 in unissued shares are moved from the primary offering to the distribution reinvestment plan, revising the caps to $2,385,000,000 for the primary offering and $365,000,000 for the distribution reinvestment plan, from an aggregate program cap of $2,750,000,000.

Insights

Equity Capital Markets Analyst

Supplement shifts $15M of offering capacity to the DRIP.

The supplement updates offering allocations within the existing continuous offering program: the aggregate program cap remains $2,750,000,000, with $15,000,000 reallocated from the primary offering to the distribution reinvestment plan effective May 27, 2026.

Cash‑flow treatment and pricing mechanics are unchanged in the excerpt; subsequent investor activity will depend on shareholder participation in the distribution reinvestment plan and any sales under the primary offering. Timing and use of proceeds are not described in the provided excerpt.

Securities Counsel

Administrative amendment consistent with a continuous public offering structure.

The text reflects an intra‑program reallocation permitted by the prospectus terms, stating the effective date and revised caps. The language preserves prior risk factor references and retains prospectus definitions.

There are no new conditions or qualifiers shown beyond the effective date; any further material changes would require additional supplemental disclosure.

Key Figures

Aggregate offering cap: $2,750,000,000 Primary offering cap (prior): $2,400,000,000 DRIP cap (prior): $350,000,000 +3 more

6 metrics

Aggregate offering cap $2,750,000,000 Total continuous offering capacity stated in supplement

Primary offering cap (prior) $2,400,000,000 Primary offering amount before reallocation

DRIP cap (prior) $350,000,000 Distribution reinvestment plan amount before reallocation

Reallocated amount $15,000,000 Amount moved from primary to DRIP effective May 27, 2026

Primary offering cap (after) $2,385,000,000 Revised primary offering cap as of May 27, 2026

DRIP cap (after) $365,000,000 Revised distribution reinvestment plan cap as of May 27, 2026

Key Terms

distribution reinvestment plan, primary offering, prospectus supplement

3 terms

distribution reinvestment plan financial

"up to $350,000,000 in shares pursuant to our distribution reinvestment plan"

An automatic program that uses cash distributions—such as dividends or other payouts—from a stock or fund to buy additional shares of the same security instead of handing out cash to the investor. Think of it like using store credit you’d otherwise pocket to buy more items: it makes your holding grow over time without you having to manually reinvest, which can compound returns, reduce transaction costs and change the timing of taxable income.

primary offering financial

"up to $2,400,000,000 in shares in our primary offering"

A primary offering is when a company sells newly created shares or other securities to raise money directly from investors; the cash proceeds go to the company rather than to existing shareholders. Investors care because it changes how much of the company each share represents—like cutting a pie into more pieces so each piece is smaller—and can affect the stock price and the company’s ability to fund growth or pay down debt.

prospectus supplement regulatory

"This supplement ("Supplement") contains information which amends, supplements or modifies certain information"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

Offering Details

mixed · $2,750,000,000

Offering

Offering Type mixed

Securities Offered common stock

Offering Amount $2,750,000,000

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What change did FSREI make on May 27, 2026?

FSREI reallocated $15,000,000 from its primary offering to its distribution reinvestment plan, effective May 27, 2026. The reallocation adjusts the program caps but leaves the aggregate offering capacity at $2,750,000,000.

What are the new offering caps after the reallocation for FSREI?

After the reallocation, the primary offering cap is $2,385,000,000 and the distribution reinvestment plan cap is $365,000,000. The aggregate program cap remains $2,750,000,000.

Does the supplement change how proceeds will be used for FSREI?

The supplement does not disclose any changes to use of proceeds. It only reallocates offering capacity between the primary offering and the distribution reinvestment plan without specifying proceeds treatment.

Is this reallocation a new offering or part of an existing program for FSREI?

This is a reallocation within an existing continuous offering program described in the prospectus. The supplement amends allocation amounts but does not establish a new separate offering.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/27/2026 - 01:18 PM EDT Learn about SEC filing dates

Filed pursuant to Rule 424(b)(3)

File No. 333-264628

FS CREDIT REAL ESTATE INCOME TRUST, INC.

Supplement dated May 27, 2026

to

Prospectus dated April 10, 2026

This supplement (“Supplement”) contains information which amends, supplements or modifies certain information contained in the Prospectus of FS Credit Real Estate Income Trust, Inc. dated April 10, 2026 (as so supplemented and amended, the “Prospectus”). Capitalized and/or defined terms used in this Supplement have the same meanings as in the Prospectus, unless otherwise stated herein.

You should carefully consider the “Risk Factors” beginning on page 29 of the Prospectus before you decide to invest in shares of our common stock.

The purposes of this Supplement are as follows:

· to disclose the reallocation of shares in this offering from the primary offering to the distribution reinvestment plan.

Share Reallocation

We are offering on a continuous basis up to $2,750,000,000 in shares of common stock, consisting of up to $2,400,000,000 in shares in our primary offering and up to $350,000,000 in shares pursuant to our distribution reinvestment plan. In accordance with the terms of our current public offering, we may reallocate shares between the primary offering and the distribution reinvestment plan. Accordingly, effective as of May 27, 2026 $15,000,000 in unissued shares will be reallocated from our primary offering to our distribution reinvestment plan, and as a result, effective May 27, 2026 we will offer up to $2,385,000,000 in shares in our primary offering and up to $365,000,000 in shares pursuant to our distribution reinvestment plan.