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
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Date of Report (Date of earliest event reported): April 20, 2018 |
FS Credit Real Estate Income Trust, Inc.
(Exact name of Registrant as specified in its charter)
Maryland (State or other jurisdiction of incorporation) |
333-216037 (Commission File Number) |
81-4446064 (I.R.S. Employer Identification No.) |
201 Rouse Boulevard Philadelphia, Pennsylvania (Address of principal executive offices) |
19112 (Zip Code) |
| Registrant’s telephone number, including area code: (215) 495-1150 |
None
(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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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 3.02.
Unregistered Sale of Equity Securities.
On April 20, 2018, FS Credit Real Estate Income Trust, Inc. (the “Company”) received $4,200,000 relating to the sale and issuance of 170,797 shares of its Class S Common Stock at the per share purchase price of $24.59 (the “Private Placement”). The Private Placement is exempt from registration under Section 4(2) of the Securities Act of 1933 and Regulation D promulgated thereunder because the purchasers are accredited investors within the meaning of Rule 501(a) of Regulation D.
Item 8.01.
Other Items.
Investment Activity
On April 20, 2018, the Company, through a wholly-owned subsidiary, closed a $30.0 million senior floating-rate mortgage loan (the “260 Fifth Avenue Loan”), used to refinance a 65,500 SF boutique office building located in the NoMad neighborhood of Manhattan. The Company funded the purchase of the 260 Fifth Avenue Loan with proceeds from its repurchase facility with Goldman Sachs Bank USA and the Private Placement.
The 260 Fifth Avenue Loan bears interest at a floating rate of 3.75% over the one-month London Interbank Offered Rate with an interest rate floor of 5.25% per annum and loan to value ratio of 60%. The 260 Fifth Avenue Loan has an initial 24-month term with one 12-month extension option, subject to satisfaction of certain performance tests and the payment of an extension fee.
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.
| FS Credit Real Estate Income Trust, Inc. | ||||
| Date: | April 25, 2018 | By: | /s/ Stephen S. Sypherd | |
| Stephen S. Sypherd | ||||
| Vice President, Treasurer and Secretary | ||||