Brightspire Capital
- Company typePublic
- Founded2018
- HeadquartersLos Angeles, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
Brightspire Capital firmographics
Firmographics- Name
- Brightspire Capital
- Legal name
- BrightSpire Capital, Inc.
- Website
- https://www.brightspire.com
- Company type
- Public
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Brightspire Capital industry classification
Industry- Product category
- Commercial Real Estate Lending
- NAICS
- Real Estate Credit (522292), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Real Estate Investment Trusts (6798), Mortgage Bankers & Loan Correspondents (6162)
- akta.pro primary industry
- Real Estate Private Credit (CRE Debt) (FSANADAG)
- akta.pro secondary industries
- Private Credit / Direct Lending (FSAAAHAG), Senior Secured Direct Lending (FSANADAA)
Keywords
Where Brightspire Capital is headquartered
LocationHeadquarters
- HQ city
- Los Angeles
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Brightspire Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Infrastructure, Others
Revenue model
- Net Interest Income: As a mortgage REIT, BrightSpire Capital generates revenue primarily through net interest income from its $3.8 billion loan portfolio. The company originates floating-rate loans (generally over SOFR floor), with all-in coupons starting in the low 10% range for mezzanine debt, generating interest income spread between loan yields and cost of funds.
- Loan Origination Fees: The company earns origination fees from providing acquisition and refinancing loans to commercial real estate property owners, operators, and developers. Loans range from $10 million to $150 million with closing timeframes of typically 30 days.
- Dividend Distributions: As a publicly traded REIT, BrightSpire Capital distributes dividends to shareholders from taxable income. The company declared quarterly dividends of $0.16 per share, representing approximately 11% annualized yield. Dividends are funded through distributable earnings from the loan portfolio.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Quarterly | $0.16 per share quarterly dividend |
| Unit Pricing | Pay-as-you-go | Senior mortgage loans: $10-$150 million |
| Unit Pricing | Pay-as-you-go | Mezzanine and preferred equity: $10-$150 million |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Brightspire Capital product offering
Product offeringCore offering
BrightSpire Capital is an internally managed commercial real estate credit REIT that originates, acquires, finances, and manages a diversified portfolio of commercial real estate debt investments in the United States. Its offerings include senior mortgage loans, mezzanine loans, preferred equity, net leased real estate, and CRE debt securities (CMBS and CRE CLO tranches), with loan sizes typically ranging from $10 million to $150 million.
Product overview
BrightSpire Capital is a commercial real estate credit REIT offering a diversified suite of financing solutions across the capital structure. The company operates as a single integrated platform with five core investment products: Senior Mortgage Loans, Mezzanine Loans, Preferred Equity, Net Leased Real Estate, and CRE Debt Securities. The company also structures and issues commercial real estate collateralized loan obligations (CLOs), such as the BRSP 2026-FL3, to fund its lending operations. The portfolio totaled $3.8 billion as of March 31, 2026, across 100 loans and 115 total investments.
Differentiator
Problem solved
Functional benefit
Products and services
- Senior Mortgage Loans Origination and selective acquisition of senior mortgages backed by commercial real estate assets, providing acquisition and refinancing loans to property owners, operators, and developers. Loan sizes range from $10-$150 million with 3-5 year terms and floating-rate pricing generally over SOFR floor.
- Mezzanine Loans Origination and acquisition of mezzanine loans structurally subordinate to senior loans but senior to equity in the borrower. Loan sizes range from $10-$150 million with terms up to 10 years and floating-rate coupons starting in the low 10.00% range.
- Preferred Equity Investments subordinate to senior and mezzanine loans but senior to common equity in the mortgage borrower, providing flexible structured capital solutions for commercial real estate sponsors.
- Net Leased Real Estate Direct investments in well-located commercial real estate with long-term leases to tenants on a net lease basis, where tenants are generally responsible for property operating expenses.
- CRE Debt Securities Investments in bonds comprising certain tranches of commercial real estate securitization pools, such as CMBS or commercial real estate collateralized loan obligations (CRE CLOs).
- BRSP 2026-FL3 CLO A $955 million commercial real estate collateralized loan obligation (CRE CLO) backed by 29 first-lien floating-rate mortgages secured by 30 properties across 11 U.S. states, primarily multifamily assets. Approximately $833.2 million of investment-grade securities were placed with institutional investors with top-tier ratings from Moody's (Aaa) and Kroll (AAA).
Quantifiable outcome
- Trading at approximately 30% discount to GAAP book value of $7.30 per share
- +3 more outcomes
Companies that use Brightspire Capital
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles2 records
Brightspire Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Brightspire Capital partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor.
- Institutional Property AdvisorsminorArranged $45.5 million debt financing for Bascom Arizona Ventures' acquisition of Domain 3201 in Tucson, Arizona. Sourced the transaction off-market and connected borrower with BrightSpire Capital for financing.
- Bryten Real Estate PartnersminorProperty manager for Domain 3201 following Bascom Arizona Ventures acquisition, with debt financing provided by BrightSpire Capital Acquisitions, LLC.
Scale indicators16 records
Recent moves6 records
Expansion highlights4 records
Brightspire Capital competitors and assessment
Company assessmentDirect peers
- Ladder Capital Corp: Internally managed CRE credit REIT (NYSE: LADR) originating senior loans, mezzanine debt, and preferred equity — directly comparable by product mix, target borrower, and balance-sheet model (BRSP CEO Mazzei is Ladder's former President).
- Apollo Commercial Real Estate Finance: CRE mortgage REIT (NYSE: ARI) investing in senior mortgages, mezzanine, and other CRE debt — same underwriting approach, target borrowers, and balance-sheet structure as BrightSpire.
- KKR Real Estate Finance Trust: Externally managed CRE mortgage REIT (NYSE: KREF) originating senior loans backed by CRE; directly comparable in asset focus, floating-rate exposure, and CLO issuance strategy.
- Blackstone Mortgage Trust: CRE mortgage REIT (NYSE: BXMT) originating senior loans secured by commercial properties; largest direct competitor and benchmark for institutional CRE debt REIT economics.
- Granite Point Mortgage Trust: CRE-focused mortgage REIT (NYSE: GPMT) originating senior floating-rate loans and CRE CLOs — closely matched to BRSP on portfolio strategy and capital-stack positioning.
Broad incumbents
- Starwood Property Trust: Largest publicly traded CRE-focused mortgage REIT (NYSE: STWD) — a broader-incumbent with overlapping senior lending, CRE CLO, and net-lease activities but materially larger scale.
- iStar (now part of Starwood Property Trust): Former CRE finance and net-lease platform historically comparable to BrightSpire (BRSP Chairperson Catherine Rice was iStar's CFO); Starwood acquired iStar in 2024 making it a relevant precedent.
- AGNC Investment Corp. Agency mREIT (Nasdaq: AGNC) operating a similar interest-rate-sensitive spread model with monthly dividends; comparable business model archetype for BRSP's NII-driven REIT economics.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Brightspire Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Brightspire Capital leadership team
Management profileNumber of profiles
Profiles12 records
Brightspire Capital subsidiaries and ownership
Company hierarchySubsidiaries2 records
Brightspire Capital funding detail
Funding detailFunding overview
Funding rounds3 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Brightspire Capital M&A and investment
M&A and investmentM&A
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Brightspire Capital
What does Brightspire Capital do?
BrightSpire Capital is an internally managed commercial real estate credit REIT that originates, acquires, finances, and manages a diversified portfolio of commercial real estate debt investments in the United States. Its offerings include senior mortgage loans, mezzanine loans, preferred equity, net leased real estate, and CRE debt securities (CMBS and CRE CLO tranches), with loan sizes typically ranging from $10 million to $150 million.
Is Brightspire Capital a public or private company?
Brightspire Capital is a public company. It is classified as public and is currently operating.
When was Brightspire Capital founded?
Brightspire Capital was founded in 2018. It employs 11 to 50 people.
Where is Brightspire Capital based?
Brightspire Capital is headquartered in Los Angeles, United States, in the North America region.
How does Brightspire Capital make money?
Three revenue lines are on record. Net Interest Income is the primary driver. The others are loan Origination Fees and dividend Distributions.
Who are Brightspire Capital's main competitors?
Direct peers on record are Ladder Capital Corp, Apollo Commercial Real Estate Finance, KKR Real Estate Finance Trust, Blackstone Mortgage Trust and Granite Point Mortgage Trust. Broad incumbents are Starwood Property Trust, iStar (now part of Starwood Property Trust) and AGNC Investment Corp..
Does Brightspire Capital have an API?
No public API is recorded for Brightspire Capital.
What industry is Brightspire Capital in?
Brightspire Capital's product category is Commercial Real Estate Lending. Its primary akta.pro industry code is FSANADAG, Real Estate Private Credit (CRE Debt), with a secondary code of FSAAAHAG, Private Credit / Direct Lending. Its NAICS code is 522292 and its SIC code is 6798.