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FS Credit Real Estate Income Trust gets $7M from common stock offering

FS Credit Real Estate Income Trust received $7.0 million from the private placement of 286,737 of its class S common shares.

The purchase price per share was $24.50.

The company, through its subsidiary, also closed three separate floating-rate senior loans totaling about $29.8 million.

The loans are secured by a boutique retail property in the Wynwood neighborhood in Miami, Fla. They bear interest at floating rates ranging from 4.00% to 4.50% over the one-month London Interbank Offered Rate. Each loan has an initial 36-month term with two, 12-month extension options subject to satisfaction of certain performance tests and the payment of an extension fee.