2024 Q2 Form 10-Q Financial Statement

#000171754724000044 Filed on May 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $91.42M $95.77M
YoY Change -8.12% -13.16%
Cost Of Revenue $8.294M $9.267M
YoY Change 32.43% 38.58%
Gross Profit $82.98M $86.83M
YoY Change -10.99% -8.78%
Gross Profit Margin 90.77% 90.67%
Selling, General & Admin $9.893M $9.092M
YoY Change 2.17% -0.31%
% of Gross Profit 11.92% 10.47%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.953M $10.39M
YoY Change 12.74% 29.94%
% of Gross Profit 10.79% 11.97%
Operating Expenses $61.44M $96.77M
YoY Change 24.0% 61.59%
Operating Profit $21.54M -$9.940M
YoY Change -50.68% -128.16%
Interest Expense $38.07M $40.13M
YoY Change -174.83% -5.93%
% of Operating Profit 176.71%
Other Income/Expense, Net
YoY Change
Pretax Income -$68.49M -$56.86M
YoY Change 852.82% 341.87%
Income Tax $200.0K $300.0K
% Of Pretax Income
Net Earnings -$67.86M -$57.10M
YoY Change 806.49% 1283.64%
Net Earnings / Revenue -74.23% -59.63%
Basic Earnings Per Share -$0.53 -$0.45
Diluted Earnings Per Share -$0.53 -$0.45
COMMON SHARES
Basic Shares Outstanding 130.6M shares 130.0M shares
Diluted Shares Outstanding 128.0M shares 127.3M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $203.3M $221.5M
YoY Change -6.81% -29.35%
Cash & Equivalents $203.3M $221.5M
Short-Term Investments
Other Short-Term Assets $19.11M $18.30M
YoY Change -11.68% -9.97%
Inventory
Prepaid Expenses
Receivables $40.89M $40.92M
Other Receivables $0.00 $0.00
Total Short-Term Assets $263.3M $280.7M
YoY Change -10.22% -25.5%
LONG-TERM ASSETS
Property, Plant & Equipment $761.8M $815.1M
YoY Change -4.15% 10.31%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.235M $2.251M
YoY Change -19.89% -19.32%
Other Assets $129.7M $118.2M
YoY Change 25.15% 24.23%
Total Long-Term Assets $3.514B $3.666B
YoY Change -13.47% -13.28%
TOTAL ASSETS
Total Short-Term Assets $263.3M $280.7M
Total Long-Term Assets $3.514B $3.666B
Total Assets $3.778B $3.947B
YoY Change -13.25% -14.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.02M $9.831M
YoY Change -13.96% 17.62%
Accrued Expenses $33.55M $39.72M
YoY Change 2.58% 3.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $102.4M
YoY Change
Total Short-Term Liabilities $143.9M $146.0M
YoY Change 1.41% 5.26%
LONG-TERM LIABILITIES
Long-Term Debt $2.503B $2.577B
YoY Change -12.34% -16.03%
Other Long-Term Liabilities $10.43M $10.63M
YoY Change -13.9% -36.52%
Total Long-Term Liabilities $2.513B $2.588B
YoY Change -12.34% -16.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $143.9M $146.0M
Total Long-Term Liabilities $2.513B $2.588B
Total Liabilities $2.679B $2.757B
YoY Change -11.69% -15.17%
SHAREHOLDERS EQUITY
Retained Earnings -$1.764B -$1.669B
YoY Change 15.24% 11.53%
Common Stock $2.867B $2.864B
YoY Change 0.34% 0.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.099B $1.189B
YoY Change
Total Liabilities & Shareholders Equity $3.778B $3.947B
YoY Change -13.25% -14.28%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$67.86M -$57.10M
YoY Change 806.49% 1283.64%
Depreciation, Depletion And Amortization $8.953M $10.39M
YoY Change 12.74% 29.94%
Cash From Operating Activities $22.85M $24.58M
YoY Change -1.0% -38.05%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $66.84M $79.43M
YoY Change -47.89% 14.08%
Cash From Investing Activities $66.84M $79.43M
YoY Change -47.89% 14.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -107.8M -$159.4M
YoY Change -55.46% 39.34%
NET CHANGE
Cash From Operating Activities 22.85M $24.58M
Cash From Investing Activities 66.84M $79.43M
Cash From Financing Activities -107.8M -$159.4M
Net Change In Cash -18.10M -$55.85M
YoY Change -80.04% 956.75%
FREE CASH FLOW
Cash From Operating Activities $22.85M $24.58M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
362089000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
398828000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
306240000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
393543000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
257506000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
306320000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
104583000 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
92508000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
362089000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
398828000 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
221505000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
313520000 usd
CY2024Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
84735000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
80023000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
306240000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
393543000 usd
CY2024Q1 brsp Accrued Dividends Payable
AccruedDividendsPayable
26026000 usd
CY2023Q1 brsp Accrued Dividends Payable
AccruedDividendsPayable
25989000 usd
CY2024Q1 brsp Right Of Use Lease Assets And Operating Lease Liabilities
RightOfUseLeaseAssetsAndOperatingLeaseLiabilities
4454000 usd
CY2023Q1 brsp Right Of Use Lease Assets And Operating Lease Liabilities
RightOfUseLeaseAssetsAndOperatingLeaseLiabilities
0 usd
CY2024Q1 us-gaap Nature Of Operations
NatureOfOperations
Business and Organization<div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BrightSpire Capital, Inc. (the “Company”) is a commercial real estate (“CRE”) credit real estate investment trust (“REIT”) focused on originating, acquiring, financing and managing a diversified portfolio consisting primarily of CRE debt investments and net leased properties predominantly in the United States. CRE debt investments primarily consist of first mortgage loans, which the Company expects to be its primary investment strategy. Additionally, the Company may selectively originate mezzanine loans and make preferred equity investments, which may include profit participations. The mezzanine loans and preferred equity investments may be in conjunction with the Company’s origination of corresponding first mortgages on the same properties. Net leased properties consist of CRE properties with long-term leases to tenants on a net-lease basis, where such tenants generally will be responsible for property operating expenses such as insurance, utilities, maintenance capital expenditures and real estate taxes. The Company will continue to target net leased equity investments on a selective basis. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company was organized in the state of Maryland on August 23, 2017 and maintains key offices in New York, New York and Los Angeles, California. The Company elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended, beginning with the taxable year ended December 31, 2018. The Company conducts all activities and holds substantially all assets and liabilities through the Company’s operating subsidiary, BrightSpire Capital Operating Company, LLC (the “OP”).</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%;text-decoration:underline">Trends Affecting the Business</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Although global markets showed signs of stabilization and inflationary pressure may be moderating due to increased interest rates through the fourth quarter of 2023, CRE value uncertainties, aftershock of COVID-19 and geopolitical unrest continue to contribute to market volatility. Generationally high interest rates have continued to negatively impact transaction activity in the real estate market and correspondingly the loan financing and refinancing opportunities. While the Federal Reserve is expected to begin lowering interest rates in 2024, current expectations have shifted to anticipating fewer interest rate cuts during the year than originally anticipated and that such interest rate cuts may not occur until later in the year than originally anticipated. To the extent certain of the Company’s borrowers are experiencing significant financial dislocation as a result of economic conditions, the Company has and may continue to use interest and other reserves and/or replenishment obligations of the borrower and/or guarantors to meet current interest payment obligations for a limited period. The market for office properties was particularly negatively impacted by COVID-19 and continues to experience headwinds driven by the normalization of work from home and hybrid work arrangements and elevated costs to operate or reconfigure office properties. These factors have largely resulted in lower demand for office space and driven rising vacancy rates. Given the uncertainty in the office market, there is risk of future valuation impairment or investment loss on the Company’s loans secured by office properties. Similarly, these trends may impact the Company’s ability to manage debt covenant tests, maturity dates and/or seek suitable refinancing opportunities on certain of the Company’s office property equity investments, which may adversely impact valuation assessments and cash flow generated by such investments.</span></div>While macroeconomic conditions continue to be challenged, the Company cannot predict whether they will in fact improve or even intensify. Due to the inherent uncertainty of these conditions, their impact on the Company’s business is difficult to predict and quantify.
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Use of Estimates</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates and assumptions.</span></div>
CY2023Q4 us-gaap Loans Receivable Held For Sale Amount
LoansReceivableHeldForSaleAmount
0 usd
CY2024Q1 us-gaap Loans Receivable Held For Sale Amount
LoansReceivableHeldForSaleAmount
0 usd
CY2024Q1 brsp Real Estate Held For Sale Number Of Properties Held For Sale
RealEstateHeldForSaleNumberOfPropertiesHeldForSale
1 property
CY2023Q4 brsp Real Estate Held For Sale Number Of Properties Held For Sale
RealEstateHeldForSaleNumberOfPropertiesHeldForSale
1 property
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000 usd
CY2024Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
150214000 usd
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
76028000 usd
CY2024Q1 srt Mortgage Loans On Real Estate Face Amount Of Mortgages
MortgageLoansOnRealEstateFaceAmountOfMortgages
2836338000 usd
CY2024Q1 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
2687349000 usd
CY2023Q4 srt Mortgage Loans On Real Estate Face Amount Of Mortgages
MortgageLoansOnRealEstateFaceAmountOfMortgages
2937386000 usd
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
2860478000 usd
CY2024Q1 us-gaap Financing Receivable Accrued Interest After Allowance For Credit Loss
FinancingReceivableAccruedInterestAfterAllowanceForCreditLoss
15400000 usd
CY2023Q4 us-gaap Financing Receivable Accrued Interest After Allowance For Credit Loss
FinancingReceivableAccruedInterestAfterAllowanceForCreditLoss
15900000 usd
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
2860478000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
3468742000 usd
CY2024Q1 us-gaap Mortgage Loans On Real Estate Other Additions
MortgageLoansOnRealEstateOtherAdditions
15171000 usd
CY2023Q1 us-gaap Mortgage Loans On Real Estate Other Additions
MortgageLoansOnRealEstateOtherAdditions
16388000 usd
CY2024Q1 brsp Sec Schedule1229 Real Estate Companies Investmentin Mortgage Loanson Real Estate Collectionsof Principal Including Corporate Term Loan
SECSchedule1229RealEstateCompaniesInvestmentinMortgageLoansonRealEstateCollectionsofPrincipalIncludingCorporateTermLoan
116790000 usd
CY2023Q1 brsp Sec Schedule1229 Real Estate Companies Investmentin Mortgage Loanson Real Estate Collectionsof Principal Including Corporate Term Loan
SECSchedule1229RealEstateCompaniesInvestmentinMortgageLoansonRealEstateCollectionsofPrincipalIncludingCorporateTermLoan
101368000 usd
CY2024Q1 brsp Sec Schedule1229 Real Estate Companies Investmentin Mortgage Loanson Real Estate Increase Decreasein Changein Allowancefor Loan Losses
SECSchedule1229RealEstateCompaniesInvestmentinMortgageLoansonRealEstateIncreaseDecreaseinChangeinAllowanceforLoanLosses
74186000 usd
CY2023Q1 brsp Sec Schedule1229 Real Estate Companies Investmentin Mortgage Loanson Real Estate Increase Decreasein Changein Allowancefor Loan Losses
SECSchedule1229RealEstateCompaniesInvestmentinMortgageLoansonRealEstateIncreaseDecreaseinChangeinAllowanceforLoanLosses
39589000 usd
CY2024Q1 brsp Sec Schedule1229 Real Estate Companies Investmentin Mortgage Loanson Real Estate Amortizationof Premium Including Corporate Term Loan
SECSchedule1229RealEstateCompaniesInvestmentinMortgageLoansonRealEstateAmortizationofPremiumIncludingCorporateTermLoan
2104000 usd
CY2023Q1 brsp Sec Schedule1229 Real Estate Companies Investmentin Mortgage Loanson Real Estate Amortizationof Premium Including Corporate Term Loan
SECSchedule1229RealEstateCompaniesInvestmentinMortgageLoansonRealEstateAmortizationofPremiumIncludingCorporateTermLoan
3038000 usd
CY2024Q1 brsp Sec Schedule1229 Real Estate Companies Investment In Mortgage Loans On Real Estate Interest Capitalized Including Corporate Term Loan Net
SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateInterestCapitalizedIncludingCorporateTermLoanNet
572000 usd
CY2023Q1 brsp Sec Schedule1229 Real Estate Companies Investment In Mortgage Loans On Real Estate Interest Capitalized Including Corporate Term Loan Net
SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateInterestCapitalizedIncludingCorporateTermLoanNet
1848000 usd
CY2024Q1 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
2687349000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
3349059000 usd
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
76028000 usd
CY2024Q1 brsp Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal Including Held For Sale
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversalIncludingHeldForSale
67058000 usd
CY2024Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
150214000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
106247000 usd
CY2023Q1 brsp Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal Including Held For Sale
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversalIncludingHeldForSale
-15418000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
145836000 usd
CY2023Q1 brsp Mortgage Loans On Real Estate Number Of Loans Contributing To More Than10 Percent Of Interest Income
MortgageLoansOnRealEstateNumberOfLoansContributingToMoreThan10PercentOfInterestIncome
0 investment
CY2024Q1 brsp Mortgage Loans On Real Estate Number Of Loans Contributing To More Than10 Percent Of Interest Income
MortgageLoansOnRealEstateNumberOfLoansContributingToMoreThan10PercentOfInterestIncome
0 investment
CY2023Q1 brsp Percentof Interest Income Contributedby Investment
PercentofInterestIncomeContributedbyInvestment
0.100
CY2024Q1 brsp Percentof Interest Income Contributedby Investment
PercentofInterestIncomeContributedbyInvestment
0.100
CY2024Q1 brsp Financing Receivable Excluding Accrued Interest Average Risk Rating
FinancingReceivableExcludingAccruedInterestAverageRiskRating
3.2
CY2024Q1 us-gaap Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear
0 usd
CY2024Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear
8941000 usd
CY2024Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Three Originated Two Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear
809065000 usd
CY2024Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Four Originated Three Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear
1258828000 usd
CY2024Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Five Originated Four Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear
760729000 usd
CY2024Q1 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
2837563000 usd
CY2024Q1 us-gaap Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff
0 usd
CY2024Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff
0 usd
CY2024Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Three Originated Two Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff
0 usd
CY2024Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Four Originated Three Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff
0 usd
CY2024Q1 us-gaap Financing Receivable Excluding Accrued Interest Year Five Originated Four Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff
0 usd
CY2024Q1 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
0 usd
CY2023Q4 brsp Financing Receivable Excluding Accrued Interest Average Risk Rating
FinancingReceivableExcludingAccruedInterestAverageRiskRating
3.2
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear
4003000 usd
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear
911931000 usd
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Year Three Originated Two Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear
1252970000 usd
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Year Four Originated Three Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear
62777000 usd
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Year Five Originated Four Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear
704825000 usd
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
2936506000 usd
CY2023 us-gaap Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff
0 usd
CY2023 us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff
0 usd
CY2023 us-gaap Financing Receivable Excluding Accrued Interest Year Three Originated Two Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff
0 usd
CY2023 us-gaap Financing Receivable Excluding Accrued Interest Year Four Originated Three Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff
0 usd
CY2023 us-gaap Financing Receivable Excluding Accrued Interest Year Five Originated Four Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff
14477000 usd
CY2023 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
14477000 usd
CY2024Q1 brsp Number Of Foreclosed Properties
NumberOfForeclosedProperties
4 property
CY2024Q1 us-gaap Foreclosed Assets
ForeclosedAssets
99800000 usd
CY2024Q1 brsp Number Of Foreclosed Properties Held For Sale
NumberOfForeclosedPropertiesHeldForSale
1 property
CY2024Q1 brsp Sec Schedule1228 Real Estate Companies Investment In Real Estate Acquisition Through Foreclosure Excluding Deed In Lieu Foreclosures
SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAcquisitionThroughForeclosureExcludingDeedInLieuForeclosures
19600000 usd
CY2023Q4 brsp Number Of Foreclosed Properties
NumberOfForeclosedProperties
4 property
CY2023Q4 us-gaap Foreclosed Assets
ForeclosedAssets
100400000 usd
CY2023Q4 brsp Number Of Foreclosed Properties Held For Sale
NumberOfForeclosedPropertiesHeldForSale
1 property
CY2023 brsp Sec Schedule1228 Real Estate Companies Investment In Real Estate Acquisition Through Foreclosure Excluding Deed In Lieu Foreclosures
SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAcquisitionThroughForeclosureExcludingDeedInLieuForeclosures
19600000 usd
CY2024Q1 brsp Real Estate Investment Property Depreciation Expense
RealEstateInvestmentPropertyDepreciationExpense
6900000 usd
CY2023Q1 brsp Real Estate Investment Property Depreciation Expense
RealEstateInvestmentPropertyDepreciationExpense
6000000 usd
CY2024Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
22192000 usd
CY2023Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
19388000 usd
CY2024Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
3025000 usd
CY2023Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
3023000 usd
CY2024Q1 brsp Property Operating Income Excluding Amortizationof Below Above Leases
PropertyOperatingIncomeExcludingAmortizationofBelowAboveLeases
25217000 usd
CY2023Q1 brsp Property Operating Income Excluding Amortizationof Below Above Leases
PropertyOperatingIncomeExcludingAmortizationofBelowAboveLeases
22411000 usd
CY2024Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
400000 usd
CY2023Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
300000 usd
CY2024Q1 brsp Concentration Risk Number Of Properties1
ConcentrationRiskNumberOfProperties1
0 property
CY2023Q1 brsp Concentration Risk Number Of Properties1
ConcentrationRiskNumberOfProperties1
0 property
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
62731000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
78353000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
71192000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
66471000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
57510000 usd
CY2024Q1 brsp Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
295559000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
631816000 usd
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
800000 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
800000 usd
CY2024Q1 brsp Number Of Legal Titles Acquired
NumberOfLegalTitlesAcquired
4 property
CY2024Q1 brsp Number Of Legal Titles Acquired Classified As Held For Sale
NumberOfLegalTitlesAcquiredClassifiedAsHeldForSale
1 property
CY2023Q4 brsp Number Of Legal Titles Acquired Classified As Held For Sale
NumberOfLegalTitlesAcquiredClassifiedAsHeldForSale
1 property
CY2024Q1 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
141845000 usd
CY2024Q1 brsp Asset Acquisition Land And Improvements
AssetAcquisitionLandAndImprovements
38474000 usd
CY2024Q1 brsp Asset Acquisition Building And Improvements
AssetAcquisitionBuildingAndImprovements
69449000 usd
CY2024Q1 brsp Asset Acquisition Furniture And Fixtures
AssetAcquisitionFurnitureAndFixtures
832000 usd
CY2024Q1 brsp Asset Acquisition Lease Intangible Assets
AssetAcquisitionLeaseIntangibleAssets
14440000 usd
CY2024Q1 brsp Asset Acquisition Other Assets
AssetAcquisitionOtherAssets
2555000 usd
CY2024Q1 brsp Asset Acquisition Lease Intangible Liabilities
AssetAcquisitionLeaseIntangibleLiabilities
-723000 usd
CY2024Q1 brsp Asset Acquisition Other Liabilities
AssetAcquisitionOtherLiabilities
-2782000 usd
CY2024Q1 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
19605000 usd
CY2023Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
19600000 usd
CY2024Q1 brsp Finite Lived Intangible Assets And Deferred Leasing Costs Held For Sale
FiniteLivedIntangibleAssetsAndDeferredLeasingCostsHeldForSale
19605000 usd
CY2023Q4 brsp Finite Lived Intangible Assets And Deferred Leasing Costs Held For Sale
FiniteLivedIntangibleAssetsAndDeferredLeasingCostsHeldForSale
19600000 usd
CY2024Q1 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
31030000 usd
CY2024Q1 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
19197000 usd
CY2024Q1 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
11833000 usd
CY2024Q1 brsp Finite Lived Intangible Assets And Deferred Leasing Costs Gross
FiniteLivedIntangibleAssetsAndDeferredLeasingCostsGross
126156000 usd
CY2024Q1 brsp Finite Lived Intangible Assets And Deferred Leasing Costs Accumulated Amortization
FiniteLivedIntangibleAssetsAndDeferredLeasingCostsAccumulatedAmortization
71573000 usd
CY2024Q1 brsp Finite Lived Intangible Assets And Deferred Leasing Costs Net
FiniteLivedIntangibleAssetsAndDeferredLeasingCostsNet
54583000 usd
CY2024Q1 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
16798000 usd
CY2024Q1 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
13025000 usd
CY2024Q1 us-gaap Below Market Lease Net
BelowMarketLeaseNet
3773000 usd
CY2023Q4 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
31004000 usd
CY2023Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
18571000 usd
CY2023Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
12433000 usd
CY2023Q4 brsp Finite Lived Intangible Assets And Deferred Leasing Costs Gross
FiniteLivedIntangibleAssetsAndDeferredLeasingCostsGross
127225000 usd
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P2Y4M24D
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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23700000 usd
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CY2024Q1 brsp Common Sharesand Preferred Shares Authorizedfor Issuance
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CY2024Q1 us-gaap Preferred Stock Shares Authorized
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CY2024Q1 us-gaap Preferred Stock Shares Issued
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CY2023Q1 us-gaap Preferred Stock Shares Issued
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CY2024Q1 us-gaap Preferred Stock Shares Outstanding
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CY2023Q1 us-gaap Preferred Stock Shares Outstanding
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CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
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CY2024Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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2836338000 usd
CY2023Q4 srt Mortgage Loans On Real Estate Face Amount Of Mortgages
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2937386000 usd
CY2024Q1 brsp Cash Collateral For Derivatives Held By Counterparties
CashCollateralForDerivativesHeldByCounterparties
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CY2024Q1 us-gaap Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
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40000 usd
CY2023Q1 us-gaap Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
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651000 usd
CY2024Q1 us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
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0 usd
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CY2024Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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40000 usd
CY2023Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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650000 usd
CY2024Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
77000 usd
CY2024Q1 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
77000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
164000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
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164000 usd
CY2024Q1 brsp Number Of Real Estate Properties Acquired Through Deed In Lieu Of Foreclosure
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5 property
CY2023Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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2300000 usd
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2300000 usd
CY2024Q1 us-gaap Revenues
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95767000 usd
CY2023Q1 us-gaap Revenues
Revenues
110278000 usd
CY2024Q1 us-gaap Noncurrent Assets
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CY2024Q1 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
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CY2024Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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0 usd
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CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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-57103000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4127000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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127326000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
126665000 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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127326000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q1 us-gaap Earnings Per Share Basic
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-0.45
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CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
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false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
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false

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