PRESS ROOMNEWS RELEASE
InPoint Commercial Real Estate Income, Inc. Originates More Than $65 Million in First Mortgages
Nicole Spreck
Inland CommunicationsOak Brook, Ill. – InPoint Commercial Real Estate Income, Inc. (“InPoint”), a commercial mortgage real estate investment trust advised by an affiliate of Inland Real Estate Investment Corporation and sub-advised by an affiliate of Sound Point Capital Management, LP, announced that it originated $65.4 million in floating-rate first mortgage loans during the first quarter of 2019.
The $65.4 million of originations includes a $42.0 million first mortgage loan secured by a mixed-use development in New York City, a $9.2 million first mortgage loan secured by a multifamily community in Chicago and a $14.2 million first mortgage loan secured by a multifamily community in Las Vegas.
“InPoint’s outstanding origination team continues to source quality loans through multiple channels on what we consider well positioned, low loan-to-value, high quality assets for proven sponsors,” said Don MacKinnon, president of InPoint.
"These loans, secured by quality real estate, represent the execution of InPoint's strategy to be the financing solution for highly regarded commercial real estate sponsors who seek to realize their commercial real estate vision," added Mitchell Sabshon, chief executive officer of InPoint. “InPoint has invested more than $300 million in first mortgage loans, contributing to our portfolio of $423 million of assets as of March 31, 2019.”
InPoint’s portfolio of first mortgage loans, CMBS and credit loans are secured by multifamily, industrial, office, hospitality and retail real estate assets located across the United States. The portfolio is composed of 97 percent floating-rate investments.
About InPoint Commercial Real Estate Income, Inc.
Externally managed by a wholly-owned indirect subsidiary of Inland Real Estate Investment Corporation, InPoint Commercial Real Estate Income, Inc. is a commercial mortgage real estate investment trust that seeks to originate, acquire and manage a diversified credit portfolio secured by commercial real estate properties primarily within the United States.
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