WEST PALM BEACH, Fla., Sept. 29, 2025 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (“SUNS” or the “Company”) (Nasdaq: SUNS), a lender on the Tannenbaum Capital Group (“TCG”) Real Estate platform, today announced that it has committed $35.0 million to a $370.0 million first mortgage loan for the Lofty & Standard, a two-tower condominium development in the Brickell neighborhood of Miami, Florida (the “Project”). As part of the financing, affiliated lenders on the TCG Real Estate platform committed an additi ...

Core Insights - Mag Mile Capital successfully arranged $15.9 million in financing for the acquisition of the Hampton Inn El Paso by Nexgen Management, a hotel ownership and management firm based in Dallas [1][4] - The financing package includes a $13.9 million senior CMBS loan and a $2 million mezzanine loan, achieving over 80% loan-to-purchase price leverage [2][4] - The transaction highlights the challenges in securing mezzanine financing in the current market, yet Mag Mile Capital was able to provide competitive terms [3] Financing Details - Total Financing: $15,900,000 [4] - Senior Loan: $13,900,000 [4] - Mezzanine Loan: $2,000,000 [4] - Total Leverage: 80%+ Loan-to-Purchase Price [4] - Term: 5 Years [4] - Rate Type: Fixed Rate [4] Market Positioning - The Texas border market offers unique opportunities, and Nexgen Management's experience in this area made them a suitable candidate for the transaction [3] - Mag Mile Capital's ability to creatively source and structure capital, even in limited market segments, is emphasized [4] - This transaction marks the fourth deal closed with Nexgen Management, totaling over $75 million in closed deals with the client [4] Company Overview - Mag Mile Capital is a boutique commercial real estate mortgage banking firm headquartered in Chicago, specializing in sophisticated financing solutions since 1991 [5] - The firm leverages deep capital markets relationships to deliver tailored solutions across all major asset classes [5]

Core Viewpoint - Timbercreek Financial reported solid performance in Q2 2025, with positive commercial real estate conditions despite macroeconomic volatility related to tariffs [3]. Financial Performance - Net mortgage investments increased to $1,114.0 million in Q2 2025, up from $1,003.4 million in Q2 2024, representing an increase of $110.6 million or 11.0% year-over-year [4][5]. - Net investment income for Q2 2025 was $25.2 million, compared to $26.4 million in Q2 2024 [5]. - Net income and comprehensive income decreased to $12.4 million in Q2 2025 from $15.4 million in Q2 2024 [5]. - Distributable income was $14.6 million ($0.18 per share) in Q2 2025, down from $16.3 million ($0.20 per share) in Q2 2024 [5][6]. - The company declared dividends of $14.3 million, maintaining a payout ratio of 97.8% on distributable income [5][6]. Portfolio and Investment Strategy - The weighted average interest rate on the portfolio was 8.6% for Q2 2025, with 87.4% of loans being variable rate loans with interest rate floors [6]. - The company has made significant progress in resolving remaining staged loans, addressing over $80.0 million in Stage 2 and 3 loans in Q2 2025 [5]. - New loan originations were more heavily weighted towards the end of the quarter, indicating a strategic focus on portfolio expansion [5]. Market Conditions - The commercial real estate market remains positive, with stabilized rates creating a favorable environment for portfolio growth [3]. - The core asset class, multi-family residential, is expected to perform well amid economic uncertainty, providing a buffer against potential impacts from tariffs [5].

Core Insights - Sunrise Realty Trust, Inc. ("SUNS") has expanded its senior secured revolving credit facility to $90 million, following a new $40 million commitment from City National Bank of Florida (CNB) [1][2] - The credit facility is expandable to $200 million, subject to customary conditions and additional lender participation [1] - Proceeds from the credit facility will be utilized to fund SUNS' commercial real estate loan pipeline, support existing commitments, and provide general working capital [2] Company Overview - Sunrise Realty Trust, Inc. is an institutional commercial real estate lender focusing on transitional CRE business plans with potential for near-term value creation, primarily in the Southern United States [4] - The company is part of the TCG Real Estate platform, which includes affiliated CRE-focused debt funds [5] Financial Institutions Involved - City National Bank of Florida (CNB) is the second-largest financial institution in Florida, with over $26 billion in assets and a strong focus on commercial banking and real estate lending [6] - East West Bank, the Administrative Agent for the credit facility, has total assets of $76 billion and operates over 110 locations in the U.S. and Asia [7]