BrightSpire Capital Expands Key Credit Facilities and Covenants

BrightSpire Capital ( (BRSP) ) has shared an announcement.

On December 16–17, 2025, BrightSpire Capital’s subsidiaries executed a new series of amendments across four major repurchase and guaranty facilities with Wells Fargo, Barclays, Citibank and Morgan Stanley, collectively expanding debt capacity, extending maturities and further easing guarantor net worth covenants. The Wells Fargo facility tied to BrightSpire Credit 8 was upsized from $400 million to $500 million, with potential to reach $600 million subject to lender approval, while the minimum consolidated tangible net worth covenant for the BrightSpire operating guarantor was cut to $900 million; prior amendments since 2018 had already extended its maturity to June 22, 2028, added SOFR-based lending, and increased overall facility size. With Barclays, BrightSpire Credit 7’s master repurchase agreement—originally a $500 million line launched in 2018 and now sized at $600 million with maturity out to April 25, 2028—was supplemented by a fourth guaranty amendment on December 16, 2025 that likewise reduced the guarantor’s minimum tangible net worth requirement to $900 million. On the Citibank platform, which provides up to $400 million of financing and has gradually been updated for benchmark transitions and narrowed foreign-asset eligibility, BrightSpire replaced the existing guaranty on December 16, 2025 with an amended and restated guaranty that also lowered the required minimum consolidated tangible net worth to $900 million. Separately, on December 17, 2025, Morgan Stanley agreed under an eleventh omnibus amendment to reduce the guarantor’s minimum tangible net worth threshold to $900 million on a repurchase facility that has historically provided up to $600 million in capacity and now runs through April 20, 2027, after a series of prior amendments that cut the facility size, restored it, shifted to SOFR and extended the term. Taken together, these coordinated covenant reductions and capacity enhancements across four key lending relationships give BrightSpire more balance sheet flexibility and long-dated, SOFR-based financing to support its commercial real estate lending strategy through a challenging property and capital markets cycle.

The most recent analyst rating on (BRSP) stock is a Hold with a $6.00 price target. To see the full list of analyst forecasts on BrightSpire Capital stock, see the BRSP Stock Forecast page.

Spark’s Take on BRSP Stock

According to Spark, TipRanks’ AI Analyst, BRSP is a Neutral.

BrightSpire Capital’s overall score is driven by positive technical momentum and a favorable earnings call outlook. However, financial performance challenges and valuation concerns, particularly the negative P/E ratio, weigh on the score. The company’s strategic initiatives and high dividend yield provide some offsetting strengths.

To see Spark’s full report on BRSP stock, click here.

More about BrightSpire Capital

BrightSpire Capital, Inc. is a commercial real estate finance company that, through various credit subsidiaries, uses large master repurchase and securities agreements with major global banks to finance first mortgage loans, mezzanine loans, senior loan participations and other commercial mortgage loan debt instruments secured by commercial real estate in the U.S. and select European markets.

Average Trading Volume: 708,179

Technical Sentiment Signal: Buy

Current Market Cap: $766.7M

For a thorough assessment of BRSP stock, go to TipRanks’ Stock Analysis page.