Franklin BSP Realty Trust, Inc. Appoints Michael Comparato as President
22 March 2023 - 9:00PM
Business Wire
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the
“Company”) today announced the appointment of Michael Comparato as
its new President. Richard J. Byrne, who previously served as
President, will continue to serve as Chairman of the Board of
Directors and Chief Executive Officer.
Mr. Comparato is a managing director with Benefit Street
Partners L.L.C. (“BSP”), the Company’s external manager, and has
served as Head of Commercial Real Estate for BSP since 2017. Since
BSP took over the role of external manager of FBRT, Mr. Comparato
has played a leading role for BSP in fulfilling its duties under
the advisory agreement, running day-to-day operations, including
overseeing loan originations and other investments, as well as
leading investment committee.
Prior to joining BSP, Mr. Comparato was Head of U.S. Equity
Investments at Ladder Capital Corp. (NYSE: LADR), and prior to that
was President of BankAtlantic Commercial Mortgage Capital, the CMBS
affiliate of BankAtlantic.
Mr. Byrne stated, “Mike is an extraordinary talent. We are very
pleased that our Board is recognizing his many contributions
through this appointment and are confident he will continue to
drive long-term stockholder value."
Tom Gahan, Chief Executive Officer of BSP, added, “As Head of
Commercial Real Estate for BSP for the past six years, Mike has
been an exemplary leader in every aspect of our business. His
significant expertise in real estate investing has been
instrumental in executing the Company’s strategy. I have every
confidence in his continued success.”
The appointment of Michael Comparato is effective immediately.
He will continue to be based out of BSP’s headquarters in New
York.
About Franklin BSP Realty Trust, Inc.
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) is a real estate
investment trust that originates, acquires and manages a
diversified portfolio of commercial real estate debt secured by
properties located in the United States. As of December 31, 2022,
FBRT had over $6.2 billion of assets. FBRT is externally managed by
Benefit Street Partners L.L.C., a wholly owned subsidiary of
Franklin Resources, Inc. For further information, please visit
www.fbrtreit.com.
Forward-Looking Statements
Certain statements included in this press release are
forward-looking statements. Those statements include statements
regarding the intent, belief or current expectations of the Company
and members of our management team, as well as the assumptions on
which such statements are based, and generally are identified by
the use of words such as "may," "will," "seeks," "anticipates,"
"believes," "estimates," "expects," "plans," "intends," "should" or
similar expressions. Actual results may differ materially from
those contemplated by such forward-looking statements. Further,
forward-looking statements speak only as of the date they are made,
and we undertake no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operating results over
time, unless required by law.
The Company's forward-looking statements are subject to various
risks and uncertainties, including but not limited to the risks and
important factors contained and identified in the Company’s filings
with the Securities and Exchange Commission (“SEC”), including its
Annual Report on Form 10-K for the fiscal year ended December 31,
2022 and its subsequent filings with the SEC, any of which could
cause actual results to differ materially from the forward-looking
statements. The forward-looking statements included in this
communication are made only as of the date hereof.
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version on businesswire.com: https://www.businesswire.com/news/home/20230322005322/en/
Investor Relations Contact: Lindsey Crabbe
l.crabbe@benefitstreetpartners.com (214) 874-2339
Franklin BSP Realty (NYSE:FBRT)
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