Sunrise Realty Trust Inc (NASDAQ: SUNS) is a commercial real estate finance company that originates and holds commercial real estate loans as its primary investment activity. It earns income through interest on loans held for investment, structured as a real estate investment trust (REIT) and subject to mandatory distribution requirements under the REIT provisions of the Internal Revenue Code. The company is externally managed under a Management Agreement, with the Manager handling investment, operational, and administrative functions in exchange for management and incentive fees reimbursed by SUNS. Key financial metrics tracked by management include Distributable Earnings, book value per share, and dividends declared per share. Book value per share of Common Stock was approximately $13.56 as of December 31, 2025, down from $16.29 as of December 31, 2024. The company's balance sheet carries loans held for investment as its primary asset, alongside a credit facility with East West Bank as agent, most recently amended on May 16, 2025. The company is listed on Nasdaq and files as an emerging growth company as of the 10-K filed March 12, 2026.

Revenue model

Interest income on commercial real estate loans held for investment. The company also recognizes fees related to loan origination and may receive income from co-investment structures. As a REIT, it is required to distribute a substantial portion of taxable income to shareholders as dividends.

Products and services

Commercial real estate loans held for investment. The company participates in loan origination, co-investments, and loan syndications alongside other investment vehicles managed by its external Manager or affiliates.

Customers and end markets

Commercial real estate borrowers. The filing excerpts do not specify borrower industry segments, loan counts, or customer concentration details.

Value-chain role

Direct lender and loan investor in the commercial real estate finance market. The company is externally managed, with the Manager sourcing, underwriting, and managing investments on its behalf. It also participates in co-investments and loan syndications with affiliated investment vehicles.

Geographic exposure

The filing excerpts do not specify geographic markets or regional loan concentrations.

Source: SEC 10-K, filed 2026-03-12

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