InPoint Commercial Real Estate Income, Inc 8-K, filed Jan 23, 2020
InPoint Commercial Real Estate Income, Inc. (ICR-PA)
About this 8-K
InPoint Commercial Real Estate Income, Inc filed this 8-K on January 23, 2020.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): January 23, 2020
INPOINT COMMERCIAL REAL ESTATE INCOME, INC.
(Exact name of registrant as specified in its charter)
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Maryland |
000-55782 |
32-0506267 |
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(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
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2901 Butterfield Road Oak Brook, Illinois |
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60523 |
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(Address of principal executive offices) |
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(Zip Code) |
(800) 826-8228
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8‑K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act |
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Soliciting material pursuant to Rule 14a‑12 under the Exchange Act |
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Pre‑commencement communications pursuant to Rule 14d‑2(b) under the Exchange Act |
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Pre‑commencement communications pursuant to Rule 13e‑4(c) under the Exchange Act |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
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None |
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None |
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None |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☑
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☑
Item 7.01.Regulation FD Disclosure.
Commencing January 23, 2020 InPoint Commercial Real Estate Income, Inc., a Maryland corporation (the “Company”), will deliver assorted presentations to financial advisors and broker dealers in connection with the Company’s offering of shares of its common stock. Included with such presentations are portfolio metrics regarding the status of the Company’s investments as of December 31, 2019. A copy of an appendix containing such portfolio metrics is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein solely for purposes of this Item 7.01 disclosure.
The information in this Item 7.01 disclosure, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section. In addition, the information in this Item 7.01 disclosure, including Exhibit 99.1, shall not be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01.Financial Statements and Exhibits.
(d)Exhibits.
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Exhibit |
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Description |
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99.1 |
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1
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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INPOINT COMMERCIAL REAL ESTATE INCOME, INC. |
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By: |
/s/ Catherine L. Lynch |
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Name: |
Catherine L. Lynch |
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Title: |
Chief Financial Officer |
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Date: |
January 23, 2020 |
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Portfolio Highlights Average Leverage Ratio $2-$40.7 Million 2.11 Years Average Investment Balance Weighted average of the loan to value’s at origination, based on current loan balance. As of 12/31/2019 Portfolio Size $664.8 Million $13.6 Million Range of Investment Balances Investments 49 Average First Mortgage Term 67.7% Exhibit 99.1
Current Portfolio Investments by Floating vs. Fixed Rate Portfolio Size of $664.8 Million Fixed Rate Floating Rate Based on par value of investments as of 12/31/2019
Current Portfolio Investments by Loan Type Portfolio Size of $664.8 Million CMBS First Mortgage Credit Loan Based on par value of investments as of 12/31/2019
Current Portfolio Investments by Region Southwest West Southeast Mid Atlantic Rocky Mountain Based on par value of investments as of 12/31/2019 Investments by Region do not include CMBS investments.
Investments by Property Type Current Portfolio Multifamily Hospitality Office Retail Mixed Use Based on par value of investments as of 12/31/2019 Investments by Property Type do not include CMBS investments. 1%
Current Portfolio Investment Portfolio Investment Type Current Investment Amount Property Type Origination or Purchase Date Initial Maturity Date First Mortgage $32.0M Multifamily 11/2019 12/2023 First Mortgage $13.4M Multifamily 10/2019 11/2022 First Mortgage $20.4M Office 10/2019 10/2022 First Mortgage $30M Multifamily 9/2019 10/2022 First Mortgage $14.9M Office 9/2019 10/2023 First Mortgage $7.0M Office 8/2019 9/2022 First Mortgage $14M Office 7/2019 8/2021 First Mortgage $6.35M Mixed-Use 6/2019 7/2022 First Mortgage $40.7M Office 6/2019 7/2022 First Mortgage $12.1M Multifamily 5/2019 6/2022 First Mortgage $24M Multifamily 5/2019 6/2022 First Mortgage $6.8M Multifamily 4/2019 5/2021 As of 12/31/2019
Current Portfolio Investment Portfolio (continued) Investment Type Current Investment Amount Property Type Origination or Purchase Date Initial Maturity Date First Mortgage $15.8M Industrial 4/2019 4/2022 First Mortgage $10.3M Multifamily 1/2019 2/2022 First Mortgage $14.2M Multifamily 1/2019 2/2022 First Mortgage $16.15M Hospitality 12/2018 1/2022 First Mortgage $24.5M Hospitality 12/2018 12/2020 First Mortgage $26.7M Multifamily 11/2018 12/2020 First Mortgage $5.2M Multifamily 11/2018 12/2021 First Mortgage $6.8M Multifamily 10/2018 11/2021 First Mortgage $19.4M Multifamily 10/2018 10/2020 First Mortgage $8.5M Multifamily 9/2018 10/2021 First Mortgage $24.1M Office 9/2018 9/2021 First Mortgage $16.3M Multifamily 8/2018 9/2021 First Mortgage $6.9M Multifamily 5/2018 6/2021 As of 12/31/2019
Current Portfolio Investment Portfolio (continued) Investment Type Current Investment Amount Property Type Origination or Purchase Date Initial Maturity Date First Mortgage $31M Industrial 5/2018 5/2021 First Mortgage $11.9M Retail 3/2018 4/2021 First Mortgage $15.6M Office 12/2017 12/2020 First Mortgage $14.65M Office 12/2017 1/2021 Credit Loan $6M Office 10/2019 10/2024 Credit Loan $3.0M Hospitality 3/2018 4/2023 Credit Loan $7.5M Office 9/2017 10/2027 CMBS $11.5M Hospitality 12/2019 12/2021 CMBS $4M Hospitality 10/2019 8/2021 CMBS $10.3M Office 10/2019 9/2022 CMBS $10M Multifamily 7/2019 7/2021 CMBS $8.0M Mixed Use 7/2019 6/2021 CMBS $17.6M Hospitality 5/2019 5/2021 As of 12/31/2019
Current Portfolio Investment Portfolio (continued) Investment Type Current Investment Amount Property Type Origination or Purchase Date Initial Maturity Date CMBS $10M Office 3/2019 3/2020 CMBS $8.5M Hospitality 12/2018 6/2020 CMBS $9.7M Hospitality 9/2018 6/2021 CMBS $10M Hospitality 8/2018 6/2020 CMBS $10M Hospitality 5/2018 5/2020 CMBS $27.7M Hospitality 5/2018 5/2020 CMBS $2.0M Hospitality 5/2018 5/2020 CMBS $5.0M Hospitality 2/2018 2/2020 CMBS $5.0M Hospitality 12/2017 12/2020 CMBS $4.1M Hospitality 9/2017 8/2020 CMBS $5.1M Retail 7/2017 7/2020 As of 12/31/2019