PRESS ROOMNEWS RELEASE
InPoint Commercial Real Estate Income, Inc. Originates More Than $65 Million in First Mortgage Loans in Q3October 21, 2019
Oak Brook, Ill. – InPoint Commercial Real Estate Income, Inc. (“InPoint” or “the Company”), 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 $65.9 million in floating-rate first mortgage loans during the third quarter of 2019.
The mortgage originations include a $7 million first mortgage loan secured by an office property in Memphis; a $14.9 million first mortgage loan also secured by an office property in San Diego; a $30 million first mortgage loan secured by a multifamily community in Houston; and a $14 million first mortgage loan secured by an office property in Tustin, California, part of the Orange County, California metropolitan statistical area (MSA).
“InPoint has sourced and originated more than $230 million in first mortgage loans this year alone, on what we consider well-positioned, low loan-to-value, high-quality assets for proven sponsors,” said Don MacKinnon, president of InPoint.
InPoint’s portfolio of first mortgage loans, CMBS and credit loans are secured by multifamily, industrial, office, hospitality, student housing and retail real estate assets located across the United States. The portfolio is currently composed of 98 percent floating-rate investments.
“Secured by high quality real estate, these newly originated loans underscore InPoint’s strategy to be the financing solution for best-in-class real estate sponsors who seek to realize their commercial real estate vision,” said Mitchell Sabshon, chief executive officer of InPoint. “To date, InPoint has grown its portfolio to more than $567 million in assets, spread across 43 investments, financing a diverse mix of properties throughout the United States.”
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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