FS Credit REIT Fulfills 100% Redemptions Despite Exceeding Monthly, Quarterly Share Repurchase Requests
FS Credit Real Estate Income Trust, a monthly net asset value real estate investment trust sponsored by FS Investments, announced that it received share repurchase requests exceeding its monthly and quarterly limitations in March 2025 and the first quarter of 2025, respectively.
According to the terms of the company’s share repurchase plan, monthly repurchases are typically capped at 2% of the aggregate net asset value of participating shares from the prior month; quarterly repurchases are limited to 5% of the aggregate NAV from the prior quarter.
In March 2025, the company received repurchase requests totaling 3.41% of the relevant aggregate NAV. For the first quarter of 2025, cumulative repurchase requests reached 6.24% of the relevant aggregate NAV.
Despite surpassing these limitations, the company’s board of directors authorized repurchases beyond the stated thresholds for both March and the entire first quarter. As a result, [Company Name] confirmed that 100% of all timely share repurchase requests received in March 2025 and the first quarter of 2025 were fully satisfied.
Last month, the REIT appointed Brian Gold to serve as its chief financial officer. He started the post this week, replacing Edward T. Gallivan Jr., who had served in the role since October 2024 when Christopher Condelles resigned.
Prior to joining FS Investments, Gold served as a member of the real estate investment trust team of BrightSpire Capital, where he was managing director from March 2023 to July 2024 and a senior vice president from June 2019 to March 2023. Before that, Gold served as vice president of finance at Goldman Sachs from July 2015 to May 2019.
The REIT also reallocated $100 million of unissued shares from its primary offering to its distribution reinvestment plan, or DRIP. Effective this week, the company is offering up $2.4 billion in shares in its primary offering and up to $350 million in shares pursuant to its DRIP.
The REIT had a total NAV of approximately $2.99 billion as of the end of February 2025. This was a 0.36% decrease compared to January’s total NAV of approximately $3 billion.
As of March 17, 2025, the REIT had issued and sold in the offering approximately 57.8 million shares of its common stock in the primary offering for total proceeds of more than $1,431.25 billion and approximately 9.36 million shares of its common stock pursuant to our distribution reinvestment plan for a total value of $231.09 million.
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