BrightSpire Capital, Inc.

17. Subsequent Events

On February 17, 2026, the Company closed a $955.0 million CLO transaction, BRSP 2026-FL3. The Company placed approximately $833.2 million of investment grade securities with institutional investors providing term financing on a non-mark-to-market, non-recourse basis. BRSP 2026-FL3 is collateralized by interests in 29 first-lien floating rate mortgages secured by 30 properties, with an 87.25% initial advance rate at a weighted average coupon at issuance of Term SOFR +1.69%, before transaction costs. The Company also expects to redeem BRSP 2021-FL1 in February 2026 with proceeds from the transaction.

Dividends

In January 2026, the Company paid a quarterly cash dividend of $0.16 per share of its Class A common stock for the quarter ended December 31, 2025, to stockholders of record as of December 31, 2025.

Loan Originations

Subsequent to December 31, 2025, the Company originated three senior mortgage loans with a total commitment of $118.3 million.

Foreclosure

On January 6, 2026, the Company acquired a multifamily property through a foreclosure. Prior to acquisition, the senior loan investment was risk ranked 5 and classified within “Loans and preferred equity held for investment, net” on the Company’s consolidated balance sheets.

Repayments

Subsequent to December 31, 2025, two risk ranked 5 loans totaling $41.6 million in carrying value before CECL reserves were repaid. Additionally, thetwo remaining risk ranked 5 loans totaling $66.9 million in carrying value before CECL reserves are expected to be repaid in the first half of 2026, as the underlying collateral is under an executed purchase and sale agreement for one loan and under a letter of intent for one loan.