CNL Strategic Residential Credit, Inc. 8-K/A

What Happened
CNL Strategic Residential Credit, Inc. announced on May 22, 2026 that it entered into a First Amendment with Valley National Bank to its $15 million revolving Loan and Security Agreement. The amendment permits up to $5.0 million of the credit to be used to satisfy the Company’s liquidity covenants under existing repurchase agreement facilities. On the same date the Board determined the Company’s net asset value per share as of April 30, 2026, set new offering prices for certain share classes, and declared a monthly cash distribution for Class E and Class FA shares.

Key Details

• First Amendment dated May 22, 2026 to the $15.0 million revolving line of credit with Valley National Bank; allows up to $5.0 million to be used for repo liquidity covenants (Item 1.01; Item 2.03 notes creation of a direct financial obligation).
• Net asset value as of April 30, 2026 (amounts reported in thousands): Class E $24,371,835; Class FA $1,181,026; Total $25,552,861. Shares outstanding: Class E 966,038; Class FA 47,392; Total 1,013,430. NAV per share: Class E $25.23; Class FA $24.92.
• New public offering prices (effective for next monthly closing on May 29, 2026): Class E $25.23, Class FA $24.92, Class A $27.23, Class T $26.16, Class I $24.92. Selling commissions/dealer manager fees: Class A $1.63 + $0.68 per share; Class T $0.78 + $0.46 per share. DRIP purchase price = NAV per share as of April 30, 2026.
• Board declared monthly cash distribution of $0.166667 per share for Class E and Class FA (record date June 26, 2026; payment date June 29, 2026).
• Recent investment activity (Jan 14–May 22, 2026): ~ $9.2 million in preferred equity for entities acquiring residential mortgage servicing rights (MSR) interests, and purchase of 135 whole residential mortgage loans for ~ $45.2 million.

Why It Matters

• The First Amendment increases the Company’s flexibility to meet liquidity requirements tied to repurchase agreements by making up to $5.0 million of its existing credit available for that purpose — a practical liquidity-management tool for short-term funding needs.
• Updated NAVs and offering prices determine subscription pricing and DRIP purchases for investors and are used for the Company’s next monthly subscription closing (May 29, 2026).
• The declared monthly distribution and recent investments (MSR-related preferred equity and whole-loan purchases) indicate ongoing capital deployment and the Company’s sources of yield; investors should review the Company’s periodic filings for detail on distribution sources and liquidity.