Articles from Benefit Street Partners L.L.C.

Benefit Street Partners L.L.C. (“BSP” or the “Company”) today announced the closing of a $120 million senior loan and a $15 million mezzanine loan, together aggregating a $135 million loan package, facilitating the refinancing of the Empire Hotel. The Empire Hotel is a 427-key hotel located in the Upper West Side neighborhood of Manhattan, NY. The property was built in 1901 and underwent a comprehensive renovation in 2013.

Benefit Street Partners L.L.C. (“BSP”) today announced that Aker, in partnership with multiple vehicles managed by BSP, acquired 55 Riverwalk located in West New York, New Jersey, for $158.5 million. The transaction was facilitated by Jose Cruz, Steve Simonelli, Mike Oliver, Elizabeth DeVesty, and Austin Pierce at JLL on behalf of the seller, a global real estate investment advisor.

Benefit Street Partners L.L.C. (“BSP” or the “Company”) today announced the closing of three floating-rate, cross-collateralized senior loans aggregating $265 million on a multifamily portfolio. The portfolio comprises 1,262 units of class A multifamily product across three properties located in Saint John’s County, Florida. Electra Capital Advisors, LLC provided three co-terminus mezzanine loans aggregating $60 million. The loan’s sponsor, Gatlin Development, is a repeat borrower of BSP. BSP was the original construction lender for all three assets, which were completed in 2023 and 2024.

Benefit Street Partners L.L.C. (“BSP” or the “Company”) today announced the closing of a $120 million floating-rate senior loan to Silver Star Properties REIT (“Silver Star”), intended to facilitate the liquidation of Silver Star’s legacy real estate portfolio. Silver Star expects to sell all current assets within their portfolio and subsequently acquire self-storage properties and transition to a self-storage REIT.

Benefit Street Partners L.L.C. ("BSP") today announced record originations for both the fourth quarter and full-year 2021. BSP originated a record $2.8 billion of commitments across 41 issuers in the fourth quarter of 2021, resulting in record annual originations of $7.7 billion across 128 issuers for the year. BSP now manages over $36 billion in assets across private debt, special situations, CLOs, liquid loans, and commercial real estate strategies as of November 30, 2021.

Benefit Street Partners L.L.C. (“BSP”), a subsidiary of Franklin Templeton and a leading credit-focused alternative asset management firm with over $32 billion in assets under management, today announced it will be opening an office in West Palm Beach, Florida. Anticipated to open in January 2022, the office will be located at 360 Rosemary Square, in the heart of downtown West Palm Beach.

Benefit Street Partners L.L.C. (“BSP”), a subsidiary of Franklin Templeton and a leading credit-focused alternative asset management firm with $30 billion in assets under management, today announced the closing of equity commitments into Franklin BSP Capital Corporation (“FBCC” or the “Fund”). FBCC is a closed-end management investment company that has elected to be regulated as a business development corporation (“BDC”) whose investment adviser is an affiliate of BSP. The Fund has raised approximately $550 million in early closings from a combination of institutional and high net worth investors in accordance with certain exemptions from the registration requirements of the Securities Act of 1933, as amended.