Home / Business and Economy / GPMT Boosts Facility to $651M, Cuts Costs
GPMT Boosts Facility to $651M, Cuts Costs
3 Aug
Summary
- Granite Point Mortgage Trust refinanced its two remaining CRE CLOs.
- The company increased its JPMorgan Chase repurchase facility to $651 million.
- This refinancing lowers the weighted average cost of funds by 38 basis points.
Granite Point Mortgage Trust Inc. (GPMT) announced on August 3, 2026, a significant refinancing of its remaining two commercial real estate collateralized loan obligation (CRE CLO) assets. These assets, previously financed through GPMT 2021-FL3 and GPMT 2021-FL4, have been moved to a JPMorgan Chase Bank, N.A. repurchase facility. This facility has been extended to July 2028, with three additional one-year term extension options available.
In conjunction with this refinancing, Granite Point Mortgage Trust increased the size of its JPMorgan Chase repurchase facility to $651 million. As of June 30, 2026, the outstanding debt obligations for these two CRE CLOs totaled $521 million, with a weighted average cost of funds at SOFR+2.38%. The refinancing initiative is projected to reduce this cost by approximately 38 basis points, bringing the new weighted average cost of funds down to SOFR+2.00%. As of July 31, 2026, GPMT reported approximately $35.1 million in unrestricted cash.
