BrightSpire Capital, Inc. 8-K

What Happened
BrightSpire Capital, Inc. (through its subsidiaries CLNC NNN Alberts AZ, LLC and CLNC NNN Alberts CA, LLC) announced on June 12, 2026 that it entered into a Purchase and Sale Agreement to sell two industrial net‑lease properties located in Tolleson, Arizona and Tracy, California. The agreed purchase price is $300,000,000, with the purchasers required to deliver $6,000,000 in earnest money within three business days. The transaction is expected to close by the outside date of September 14, 2026, subject to customary conditions and the purchasers’ assumption of the mortgage and mezzanine loans (each subject to lender approval).

Key Details

• Purchase price: $300,000,000 for the two industrial properties.
• Earnest money: $6,000,000 due within three business days of the June 12, 2026 effective date.
• Expected outside closing date: September 14, 2026; closing subject to conditions, including lender approvals for loan assumptions.
• Carrying values (as of March 31, 2026): GAAP carrying value ≈ $239 million; undepreciated carrying value ≈ $306 million (each includes ≈ $14 million straight-line rent receivable).

Why It Matters
This sale is a material definitive agreement under Item 1.01 and continues BrightSpire’s stated strategy to rotate out of owned real estate and focus on its core strategy of first mortgage loans. If completed, the transaction would reduce the company’s owned real estate holdings and provide cash proceeds that could be deployed per management’s strategy. However, the sale is not final — it is subject to customary closing conditions and lender approvals for loan assumptions, so there is no assurance the transaction will close on the described terms or at all. The Purchase and Sale Agreement is filed as an exhibit (partially redacted) to the 8‑K.