Claros Mortgage Trust reported a GAAP net income of $36.7 million, or $0.26 per diluted share, and Distributable Earnings of $40.3 million, or $0.29 per diluted share, for the first quarter of 2023.
Originated a $101 million hospitality loan, which was fully funded at closing.
Funded approximately $226 million of follow-on fundings related to the existing loan portfolio.
Received loan repayment proceeds of $211 million.
Paid a cash dividend of $0.37 per share of common stock for the first quarter of 2023.
The company recognizes the inherent challenges in this volatile market and remain cautious. However, their cycle-tested team also believes that the current rising rate environment could provide exceptional opportunities to finance high-quality transitional commercial real estate projects at an attractive basis and risk-adjusted return.
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