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 more than $100 million in floating-rate first mortgage loans during the second quarter of 2019.
The mortgage originations include a $39 million first mortgage loan secured by an office property in Houston; a $4.75 million first mortgage loan secured by a mixed-use development in Los Angeles; a $12.13 million first mortgage loan secured by a multifamily community also in Los Angeles; a $24 million first mortgage loan secured by a student housing community in Tyler, Texas; a $4.9 million first mortgage loan secured by a multifamily community in Fort Worth; and a $15.76 million first mortgage loan secured by an industrial property in Petaluma, California.
"We are thrilled with the success of our origination efforts," said Don MacKinnon, president of InPoint. "We sourced and originated more than $165 million of outstanding finance opportunities through the first half of the year, including more than $100 million in the second quarter alone. We look forward to continuing to originate loans for well-positioned, high-quality assets."
"Having recently completed a successful private placement, raising more than $276 million of equity capital, we are thrilled with our Company's ability to source attractive opportunities financing projects for the nation's leading commercial real estate sponsors," said Mitchell Sabshon, chief executive officer of InPoint. "To date, InPoint has grown its portfolio to more than $564 million in assets, spread across 41 investments, financing a diverse mix of properties throughout the United States."
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.
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.
Forward-Looking Statements
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