InPoint Commercial Real Estate Income, Inc. 8-K

What Happened
InPoint Commercial Real Estate Income, Inc. filed an 8-K (Item 8.01) disclosing its net asset value (NAV) calculation and NAV per share as of February 28, 2026. Inland InPoint Advisor, LLC is the advisor responsible for determining NAV under the Board‑approved valuation guidelines. The filing shows a total net asset value attributable to common stock of $140,970 (amounts and share counts in the filing are presented in thousands) and an aggregate NAV per share of $13.9299 as of February 28, 2026.

Key Details

• Total NAV attributable to common stock: $140,970 (in thousands); aggregate NAV per share: $13.9299 (as of Feb 28, 2026).
• Major asset/liability components (in thousands): commercial mortgage loans $336,682; real estate owned $99,401; cash and cash equivalents $75,415; repurchase agreements (liability) $(206,567); loan participations sold $(47,715); preferred stock $(89,250).
• NAV by share class (NAV / outstanding shares / NAV per share, amounts in thousands): Class P $119,178 (8,563 shares) — $13.9182; Class A $10,417 (746) — $13.9660; Class T $4,095 (290) — $14.1028; Class D $672 (48) — $13.9946; Class I $6,605 (473) — $13.9678. Class S had no outstanding shares.
• Additional notes: the company treats stockholder servicing fees as a monthly NAV reduction (accrued GAAP servicing fees were $645 as of Feb 28, 2026). The company's public offering officially terminated on November 1, 2025.

Why It Matters
NAV and NAV per share are key metrics investors use to value a non-traded REIT-like investment and compare to market price or liquidation value. The breakdown shows the company’s concentration in commercial mortgage loans and use of leverage (repurchase agreements and preferred stock), which affect risk and liquidity. The per‑class NAVs let current and prospective shareholders see how value is allocated across share classes; the termination of the public offering (Nov 1, 2025) means no new shares are being sold in the offering.