InPoint Commercial Real Estate Income, Inc. (NYSE: ICR PR A) details November 2025 NAV

Rhea-AI Filing Summary

InPoint Commercial Real Estate Income, Inc. reports its net asset value per share as of November 30, 2025. Total net asset value attributable to all classes of common stock was $153,459, stated in thousands, with 10,120 shares outstanding, also in thousands, for an aggregate NAV per share of $15.1639.

The portfolio included commercial mortgage loans of $353,993, real estate owned of $105,466, and cash, cash equivalents and restricted cash of $98,484 (all in thousands), partially offset by $241,270 of repurchase agreements on commercial mortgage loans and $89,070 of preferred stock, among other liabilities. NAV per share by class ranged from $15.1522 for Class P to $15.3431 for Class T, with Class A, Class D and Class I between these values.

The company explains that stockholder servicing fees for Class T, Class S and Class D shares are recognized as a reduction of NAV as paid, and notes that its public offering officially terminated on November 1, 2025.

8-K Event Classification

Item 8.01 — Other Events

1 item

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

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FAQ

What NAV per share did InPoint Commercial Real Estate Income, Inc. (ICR) report as of November 30, 2025?

As of November 30, 2025, InPoint Commercial Real Estate Income, Inc. reported an aggregate net asset value per share of $15.1639 across all classes of common stock.

What was InPoint Commercial Real Estate Income's total net asset value attributable to common stock on November 30, 2025?

Total net asset value attributable to all classes of common stock was $153,459, stated in thousands, as of November 30, 2025.

How many common shares of InPoint Commercial Real Estate Income, Inc. were outstanding as of November 30, 2025?

The company reported 10,120 outstanding common shares, stated in thousands, as of November 30, 2025.

How does NAV per share differ across InPoint's common stock classes?

As of November 30, 2025, NAV per share was $15.1522 for Class P, $15.2031 for Class A, $15.3431 for Class T, $15.2290 for Class D, and $15.2046 for Class I. Class S had no shares outstanding and no NAV per share was shown.

What are the main asset and liability components underlying InPoint's NAV calculation?

Key assets included commercial mortgage loans of $353,993, real estate owned of $105,466, and cash, cash equivalents and restricted cash of $98,484 (all in thousands). Major offsets included repurchase agreements on commercial mortgage loans of $241,270 and preferred stock of $89,070, also in thousands, along with other liabilities.

How are stockholder servicing fees treated in InPoint's NAV and GAAP reporting?

For NAV purposes, stockholder servicing fees for Class T, Class S and Class D shares are recognized monthly as a reduction of NAV when paid. Under GAAP, the company accrued $645 of stockholder servicing fees payable to Inland Securities Corporation as of November 30, 2025 for Class T and Class D shares and had not accrued any such fees for Class S shares because none had been sold.

When did InPoint Commercial Real Estate Income, Inc.'s public offering terminate?

The company states that its public offering officially terminated on November 1, 2025.

0001690012false00016900122025-12-152025-12-15

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 15, 2025

InPoint Commercial Real Estate Income, Inc.

(Exact name of Registrant as Specified in Its Charter)

Maryland			001-40833	32-0506267
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
2901 Butterfield Road
Oak Brook, Illinois				60523
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (800) 826-8228

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
6.75% Series A Cumulative Redeemable Preferred Stock, par value $0.001 per share		ICR PR A		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

Determination of November 30, 2025 NAV per Share

InPoint Commercial Real Estate Income, Inc. (the “Company,” “we,” “our”) calculates net asset value (“NAV”) per share in accordance with the valuation guidelines that have been approved by its board of directors (the “Board”). Our NAV per share, which is updated as of the last calendar day of each month, is posted on our website at www.inland-investments.com/inpoint. The “Net Asset Value Calculation and Valuation Guidelines” section of our prospectus for our public offering (SEC Registration No. 333-264540), as supplemented, contains details regarding how our NAV is determined. Inland InPoint Advisor, LLC, our Advisor, is ultimately responsible for determining our NAV. We have included a breakdown of the components of total net asset value attributable to common stock and NAV per share for November 30, 2025.

Our total net asset value attributable to all classes of our common stock in the aggregate is presented in the following table. The following table provides a breakdown of the major components of our total net asset value attributable to common stock as of November 30, 2025 ($ and shares in thousands, except per share data):
 

Components of NAV		November 30, 2025
Commercial mortgage loans		$	353,993
Real estate owned			105,466
Cash and cash equivalents and restricted cash			98,484
Due from related parties			555
Other assets			4,791
Repurchase agreements - commercial mortgage loans			(241,270	)
Loan participations sold			(47,124	)
Mortgage loan payable			(23,862	)
Due to related parties			(1,177	)
Distributions payable			(1,051	)
Interest payable			(2,573	)
Accrued stockholder servicing fees (1)			(261	)
Other liabilities			(3,442	)
Preferred stock			(89,070	)
Net asset value attributable to common stock		$	153,459
Number of outstanding shares			10,120
Aggregate NAV per share		$	15.1639

(1)Stockholder servicing fees only apply to Class T, Class S, and Class D shares. For purposes of NAV, we recognize the stockholder servicing fee as a reduction of NAV on a monthly basis as such fee is paid. Under GAAP, we accrued the full cost of the stockholder servicing fee as an offering cost at the time we sold Class T, Class S, and Class D shares. As of November 30, 2025, we had accrued under GAAP $645 of stockholder servicing fees payable to Inland Securities Corporation (the “Dealer Manager”) related to the Class T and Class D shares sold. As of November 30, 2025, we had not sold any Class S shares and, therefore, we had not accrued any stockholder servicing fees payable to the Dealer Manager related to Class S shares. Our public offering officially terminated on November 1, 2025. The Dealer Manager does not retain any of these fees, all of which are retained by, or reallowed (paid) to, participating broker-dealers and servicing broker-dealers for ongoing stockholder services performed by such broker-dealers.

The following table provides our total NAV attributable to common stock and NAV for each class of common stock in each case as of November 30, 2025 ($ and shares in thousands, except per share data):

NAV Per Share		Class P				Class A				Class T				Class S				Class D				Class I				Total
Net asset value attributable to common stock		$	129,745			$	11,340			$	4,455			$	—			$	731			$	7,190			$	153,459
Number of outstanding shares			8,563				746				290				—				48				473				10,120
NAV per share as of November 30, 2025		$	15.1522			$	15.2031			$	15.3431			$	—			$	15.2290			$	15.2046			$	15.1639

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			INPOINT COMMERCIAL REAL ESTATE INCOME, INC.
Date:	December 15, 2025	By:	/s/ Catherine L. Lynch
			Catherine L. Lynch Chief Financial Officer