Franklin BSP Realty Trust, Inc. announced the closing of a $125 million floating-rate senior loan facilitating the refinancing of a four-property industrial portfolio located across the Southwestern United States. Inclusive of this loan, FBRT has committed to $716 million of loan originations year-to-date and has a robust forward pipeline. The 1.1 million square foot industrial portfolio is 94.9% leased with properties located throughout Dallas, Las Vegas, and Phoenix/Mesa/Scottsdale MSAs.

FBRT?s loan has a two-year initial term and two one-year extension options, subject to the borrower meeting certain requirements. The loan?s sponsor, Fundrise Industrial Portfolio 2, LLC, is a subsidiary of Fundrise, a real estate investment platform for retail investors with nearly $3.0 billion of assets under management. Cushman & Wakefield represented the borrower on the transaction.