Company Reports Q1 Revenue of $13.46M, Beating Expectations
Reports Q1 revenue $13.46M, consensus $13.03M. "Supported by stable commercial real estate fundamentals, we maintained our investment momentum in the first quarter and grew the portfolio with the closing of $294M of new loan commitments," said CEO Bryan Donohoe. "We remain highly focused on resolving the remaining risk rated 4 and 5 loans and REO properties alongside selectively investing in high quality new loans in order to reshape and grow our portfolio." "During Q1, we maintained our balance sheet flexibility through additional repayments in the loan portfolio, disciplined liquidity and liability management and expanded borrowing capacity," said Jeff Gonzales, CFO. "We enhanced our financing structure by increasing the capacity on two of our secured funding facilities by $300M to support future growth and lowered our borrowing costs through the redemption of the FL4 CLO."
