An unknow buyer acquired The Williamsburg Hotel from Franklin BSP Realty Trust, Inc. for $96 million.
April 17, 2023
Share
An unknow buyer acquired The Williamsburg Hotel from Franklin BSP Realty Trust, Inc. (NYSE:FBRT) for $96 million on April 18, 2023. The total sale price of $96 million comprises cash and new indebtedness. As a result of the sale, Franklin BSP Realty Trust has recovered the full principal amount of its loan (equal to the carrying cost of the loan as of December 31, 2022) and approximately $20 million of additional proceeds after the payment of all related closing expenses. The sale was co-brokered by Eastdil Secured and A&G Real Estate Partners.
An unknow buyer completed the acquisition of The Williamsburg Hotel from Franklin BSP Realty Trust, Inc. (NYSE:FBRT) on April 18, 2023.
Franklin BSP Realty Trust, Inc. is a real estate finance company. The Company primarily originates, acquires, and manages a diversified portfolio of commercial real estate debt investments secured by properties located within and outside the United States. Its investment objective is to provide its common shareholders attractive, risk-adjusted returns through a stable dividend and capital growth. It operates through four segments: the real estate debt business, the real estate securities business, the conduit business, and the real estate-owned business. The Company invests in commercial real estate debt investments, which include first mortgage loans, subordinated mortgage loans, mezzanine loans and participations in such loans. The Company also originates conduit loans that intend to sell through its taxable REIT subsidiary (TRS) into commercial mortgage-backed securities securitization transactions. The investment advisor of the Company is Benefit Street Partners L.L.C.
FRANKLIN BSP REALTY TRUST, INC. 
