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Companies / Real Estate / BrightSpire Capital, Inc.
BRSP

BrightSpire Capital, Inc.

Real EstateREITs
Ticker BRSPNEW YORK, NYFiscal year ends DecemberBook value per share $6.83Diluted shares 126.3M

BrightSpire Capital, Inc. (NYSE: BRSP) operates as an internally-managed commercial real estate credit real estate investment trust focused on originating, acquiring, financing and managing a diversified portfolio of CRE debt investments and net leased properties. The company maintains principal executive offices in… From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
—
0.00%
$-38.77M
+71.4% year over year
Last 12 mo $-34.36M
-3.32%
+9.3 percentage points
Last 12 mo -3.11%
Cash & financing
$73.03M
−29.4% year over year
Last 12 mo $85.44M
$55.08M
−43.4% year over year
Last 12 mo $73.76M
2.72
Was 2.45× a year earlier
Last 12 mo 2.95
126.9M
−0.4% year over year
Last 12 mo 126.3M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What BrightSpire Capital, Inc. does

In the company’s own words

BrightSpire Capital, Inc. (NYSE: BRSP) operates as an internally-managed commercial real estate credit real estate investment trust focused on originating, acquiring, financing and managing a diversified portfolio of CRE debt investments and net leased properties. The company maintains principal executive offices in New York, New York and Los Angeles, California, with additional operations in Florida, Texas and Georgia. As of December 31, 2025, BrightSpire employed 47 full-time and part-time employees across these locations.

The company's investment strategy centers on CRE senior mortgage loans as its primary focus, supplemented by selective investments in mezzanine loans, preferred equity interests, and single-tenant net leased properties. Senior loans are secured by first mortgage liens on commercial properties and provide financing to commercial property developers and owners. Mezzanine loans are structurally subordinate to senior loans but senior to borrower equity, while preferred equity investments sit between mezzanine debt and common equity in the capital structure. Net leased properties feature long-term leases where tenants typically bear responsibility for operating expenses including insurance, utilities, maintenance and real estate taxes.

BrightSpire's financing strategy employs a multi-pronged approach including a secured revolving credit facility, secured revolving repurchase facilities, securitization financing, commercial mortgages and other asset-level financing structures. The company may also utilize warehouse facilities, public and private debt issuances and equity securities to finance investments.

The company elected REIT status for U.S. federal income tax purposes beginning with its 2018 taxable year and conducts substantially all activities through its operating subsidiary, BrightSpire Capital Operating Company, LLC. BrightSpire maintains exclusion from Investment Company Act registration by structuring operations through subsidiaries that hold qualifying real estate assets and real estate-related assets meeting specific regulatory thresholds.

The company's competitive positioning derives from its large diversified portfolio scale, disciplined investment strategy, vertically integrated structure combining investment origination with asset management and special servicing capabilities, and experienced investment professionals with deep commercial real estate relationships and expertise. BrightSpire's website is www.brightspire.com.

Company details
Sector
Real Estate
Industry
REITs
Headquarters
NEW YORK, NY
Fiscal year end
December
CIK
1717547
SIC
6798

Financial performance, year by year

Fiscal 2018–2025 · USD
$-513.59M$-360.76M$-207.93M$-55.10M$97.73M20182019202020212022202320242025Last 12 moLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns BrightSpire Capital, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

128
funds hold it
0 of 35
superinvestors hold it
$150.24M
held by funds, at market
21.3%
of shares held by funds

Largest fund holders · BrightSpire Capital, Inc.’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.02%of fund net assets
Global X SuperDividend ETF
SDIV · GLOBAL X FUNDS
0.97%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.01%of fund net assets
1.40%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do BrightSpire Capital, Inc. and its peers compare on margins and cash generation over ten years?”
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