Sunrise Realty Trust, Inc. filings document the regulatory record of a Maryland commercial mortgage REIT with common stock listed on Nasdaq under SUNS. Its reports and exhibits describe operating results, GAAP and non-GAAP performance measures, dividends, CRE lending activity and the financing arrangements used to support its loan portfolio.
Company filings include Form 8-K reports for quarterly results and material agreements, including amendments to its senior secured revolving credit facility and an at-the-market common stock distribution program. Proxy materials describe annual shareholder voting matters, director elections, auditor ratification and governance procedures.
Sunrise Realty Trust, Inc. (SUNS) increased its board to six directors and approved Southern Realty Trust Inc.’s designation of Howard Sudnow as an independent director, effective at the merger’s effective time. Southern Realty Trust is to merge with and into Sunrise Merger Sub, LLC, a wholly owned subsidiary of Sunrise; the merger is expected to become effective in the fourth quarter of 2026.
Mr. Sudnow’s term will run through SUNS’s 2027 annual meeting and until a successor is duly elected and qualified or his earlier death, resignation or removal. He is a partner at MYST Advisors and has over 30 years of capital markets experience. He will be entitled to compensation payable to SUNS non-employee directors.
Sunrise Realty Trust, Inc. (SUNS) is asking stockholders to approve the issuance of approximately 8,464,955 shares of SUNS common stock to fund the stock portion of its merger with Southern Realty Trust Inc. (SRT) at a fixed 1.45 SUNS shares per SRT share, plus $0.05 per SRT share in cash paid by SUNS Manager. After closing, existing SUNS stockholders are expected to own about 61% of the combined company and former SRT stockholders about 39%. The combined mortgage REIT will remain externally managed by SUNS Manager, continue under the SUNS name, and SUNS shares are expected to remain listed on Nasdaq under “SUNS.” Completion requires approval of this Stock Issuance under Nasdaq Rules 5635(a)(1) and 5635(a)(2), SRT stockholder approval, and other closing conditions, and may occur in the fourth quarter of 2026, with an outside date of March 5, 2027.
Sunrise Realty Trust, Inc. (SUNS) is asking stockholders to approve the issuance of approximately 8,464,955 new shares of common stock to acquire Southern Realty Trust Inc. (SRT). SRT will merge into a SUNS subsidiary, and each SRT share will receive 1.45 SUNS shares plus $0.05 in cash funded by SUNS Manager.
After completion, existing SUNS holders are expected to own about 61% of the combined commercial mortgage REIT and former SRT holders about 39%. SUNS currently has 13,515,851 shares outstanding and is authorized to issue up to 50,000,000. The board, following a special committee of independent directors, unanimously recommends voting FOR the stock issuance and related adjournment proposal.
Sunrise Realty Trust, Inc. (SUNS) Executive Chairman, director, and more-than-10% owner Leonard M. Tannenbaum reported purchasing 50,000 shares of common stock on 2026-08-13 at $7.50 per share in an open-market or private transaction. Following this transaction, he directly holds 3,142,719 shares of common stock. Additional common shares are reported as held indirectly through a family foundation and family trusts, where he serves in certain roles and disclaims beneficial ownership except to the extent of his pecuniary interest, as well as 1,000 shares held as UTMA custodian for his son and 46,516 shares held by his spouse, for which he also disclaims beneficial ownership.
Sunrise Realty Trust, Inc. Executive Chairman and 10% owner Leonard M. Tannenbaum purchased 20,000 shares of common stock on August 11, 2026 at a weighted average price of $7.60 per share, in trades ranging from $7.58 to $7.60. Following this open-market purchase, he directly holds 3,092,719 shares of common stock. Additional indirect positions are reported through a family foundation, several family trusts, an UTMA custodial account holding 1,000 shares for his son, and 46,516 shares held by his spouse, with Tannenbaum disclaiming beneficial ownership of most indirect holdings except to the extent of any pecuniary interest.
Sunrise Realty Trust, Inc. executive Brandon Hetzel, CFO and Treasurer, purchased 713 shares of common stock on 2026-08-12 in an open-market or private transaction at $7.58 per share. Following this transaction, Hetzel directly holds 26,000 common shares of Sunrise Realty Trust.
Sunrise Realty Trust, Inc. Executive Chairman and 10% owner Leonard M. Tannenbaum reported open-market purchases of the company’s Common Stock. He bought 23,109 shares at $7.73 on August 7, 2026 and 25,000 shares at $7.79 on August 10, 2026, totaling 48,109 shares acquired. The filing also lists indirect holdings, including shares held by family trusts, a family foundation, a UTMA custodial account, and the reporting person’s spouse, with multiple footnotes disclaiming beneficial ownership except for any pecuniary interest.
Sunrise Realty Trust, Inc. reported second quarter 2026 GAAP net income of $3.1 million, or $0.23 per basic weighted average common share, and Distributable Earnings of $3.9 million, or $0.29 per basic weighted average common share. Management noted that all loans in the portfolio remain current and that the company received full repayment of its Panther National investment shortly after quarter end.
The company paid a $0.30 per share common dividend for the quarter, totaling $4.1 million, versus Distributable Earnings of $0.29 per share for the same period. For the first six months of 2026, Distributable Earnings were $8.6 million, or $0.65 per share, exceeding dividends declared of $0.60 per share. Sunrise Realty Trust filed its Form 10-Q for the quarter, published an investor presentation, and scheduled a conference call to discuss results.
Sunrise Realty Trust, Inc. reported Q2 2026 net income of $3.1 million, or $0.23 basic EPS, and $7.3 million, or $0.54, for the first half of 2026. Interest income was $8.6 million for the quarter and $18.8 million year‑to‑date, reflecting higher average loan balances and repayment premium income.
As of June 30, 2026, loans held for investment at carrying value were $296.8 million within total assets of $330.7 million. The CECL reserve was $1.1 million, or 0.37% of loans, down from $2.1 million (0.68%) at year‑end, with all loans rated “2” (low risk). Undrawn loan commitments totaled $78.9 million. Borrowings included $82.6 million under the Revolving Credit Facility and $59.1 million under the unsecured SRTF Credit Facility. Book value per share was $13.45, and cash dividends were $0.30 per share in each of March and June (total $0.60).
The company recorded a $25.9 million equity‑method investment in the Lex Ave JV after foreclosing on its San Antonio hotel loan and later agreed to sell the property for $41.0 million, expecting about $26.7 million of consideration and to co‑originate a $32.0 million senior loan, subject to closing. Subsequent events also include sizable Palm Beach Gardens loan repayments and an August 5, 2026 Merger Agreement to acquire Southern Realty Trust Inc., under which each SRT share would receive 1.45 SUNS shares (about 8.4 million shares in total) plus $0.05 per share in cash from the Manager and one SRT‑designated board seat, subject to shareholder approvals.
Sunrise Realty Trust, Inc. is entering into a definitive merger under which Southern Realty Trust Inc. will merge into a wholly owned Sunrise subsidiary, in a transaction intended to qualify as a tax-free reorganization. Closing is targeted for the fourth quarter of 2026, subject to Sunrise stockholder approval of a stock issuance, SRT stockholder approval, satisfaction of customary conditions and completion of a Go-Shop Period through September 5, 2026.
Each SRT share will be converted into 1.45 newly issued Sunrise common shares plus an additional $0.05 per share in cash funded by Sunrise Manager LLC. Sunrise expects to issue approximately 8.4 million shares as stock consideration. On a pro forma basis as of June 30, 2026, the combined company would have approximately $289 million of book value, $534 million of total assets and $604 million of total loan commitments across 14 portfolio loans, with existing Sunrise stockholders owning about 62% and former SRT stockholders about 38%.
The deal is supported by voting agreements covering roughly 28% of Sunrise and 32% of SRT shares, and certain SRT holders have agreed to a 120-day lock-up on their new Sunrise shares. SRT’s external manager will waive any termination fee and fund a special distribution, while Sunrise’s management agreement will be amended to reduce the incentive fee rate from 20% to 17.5%, cut the hurdle rate from 8% to 7% and provide a $1.0 million management fee waiver over four quarters. The merger agreement includes customary covenants, REIT-related tax opinions, a Go-Shop followed by no-shop restrictions and reciprocal termination rights with termination payments in specified circumstances.