BrightSpire Capital Adjusts Book Value Increases from Co-Invest Portfolio Sale and Preferred Financing Payoff

Jan 20, 2022

On December 22, 2021, subsidiaries of BrightSpire Capital, Inc. (NYSE: BRSP) (“BrightSpire Capital” or the “Company”), announced the payoff of its “5-Investment Preferred Financing” following a co-invest portfolio sale. In conjunction with finalizing its year-end results and accounting for the resolution of the co-invest portfolio sale and “5-Investment Preferred Financing payoff”, management projects that the combination of these transactions should result in an adjusted net increase of approximately $0.20 to the Company’s GAAP book value and approximately $0.35 to undepreciated book value, in each case, approximately $0.33 less than previously reported on December 22, 2021. Fourth quarter 2021 results will be set forth in further detail in the Company’s upcoming annual report on Form 10-K for the fiscal year ended December 31, 2021.

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