Granite Point Mortgage Trust Inc.Announces Price of $ 621 Million Commercial Real Estate CLO

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NEW YORK–(COMMERCIAL THREAD) –Granite Point Mortgage Trust Inc. (NYSE: GPMT) (“GPMT”, “Granite Point” or the “Company”) today announced the price of GPMT 2021-FL4, an approximately $ 621 million managed commercial real estate secured loan bond ( “CRE CLO”), in a private offer to qualified institutional buyers in accordance with Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”). The Company expects approximately $ 503 million worth of investment grade securities to be placed with institutional investors, providing GPMT with matched term funding on an unrestricted market and non-recourse basis. The GPMT 2021-FL4 presents an initial advance rate of 80.875% and a weighted average interest rate at issue of LIBOR + 1.68%, before taking into account transaction fees. The CLO is expected to close on or around November 16, 2021, subject to customary closing conditions.

By the close of GPMT 2021-FL4, Granite Point will have sponsored four CRE CLOs totaling approximately $ 3.1 billion. The Company’s CRE CLO financings support its fundamental strategy of financing its portfolio of variable rate first mortgage loans with a well-diversified mix of funding sources, with an emphasis on borrowings with terms, not valued at market and without recourse at an attractive price cost of capital. Granite Point intends to use the net cash proceeds of GPMT 2021-FL4 to repay outstanding balances on various repurchase facilities, after which the Company estimates the percentage of unrealized credit funding to be greater than 75. % of its total borrowings.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any such or any other security, and there will be no sale of the securities of the Company in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Granite Point Mortgage Trust Inc.

Granite Point Mortgage Trust Inc. is a Maryland-based company focused on the direct granting, investment and management of senior variable rate commercial mortgages and other debt and debt-like commercial real estate investments. Granite Point is headquartered in New York, NY. Further information is available at www.gpmtreit.com.

Forward-looking statements

This press release may include statements and information that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, and we intend to cover these forward-looking statements. by the Safe Harbor provisions contained therein and are included in this Declaration for the purpose of invoking those Safe Harbor provisions. Forward-looking statements include statements about our beliefs, plans, objectives, goals, targets, expectations, expectations, assumptions, estimates, intentions and future performance. The forward-looking statements contained in this press release include, but are not limited to, expectations regarding the use of the proceeds of the offering.

Forward-looking statements involve many risks and uncertainties. Our actual results may differ from our beliefs, expectations, estimates and projections and, therefore, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature and may be identified by words such as “anticipate”, “estimate”, “will”, “should”, “expect”, “target”, “believe”, ” prospect ”,“ ”potential”, “continue”, “intend”, “seek”, “plan”, “objectives”, “future”, “probable”, “may” and similar expressions or their negative forms , or by references to a strategy, plans or intentions. By their nature, forward-looking statements speak only as of the date on which they are made, are not statements of historical fact or guarantees of future performance, and are subject to risks, uncertainties, assumptions or considerations. changes in circumstances that are difficult to predict or quantify, particularly those related to the COVID-19 pandemic, including the ultimate impact of COVID-19 on our business, financial performance and operating results. Our expectations, beliefs and estimates are expressed in good faith and we believe they are reasonably founded. However, there can be no assurance that management’s expectations, beliefs and estimates will prove to be correct or be achieved, and actual results may differ materially from what is expressed or indicated by forward-looking statements.

These forward-looking statements are subject to risks and uncertainties, including, without limitation, those described in our annual report on Form 10-K for the year ended December 31, 2020, and any subsequent Form 10-Q and Form 8-K. . documents filed with the SEC under “Risk Factors”. These risks may also be further heightened by the continuing and evolving impact of the COVID-19 pandemic. Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Additional information

Granite Point shareholders and other interested persons can find additional information about the Company on the Securities and Exchange Commission website at www.sec.gov or by directing inquiries to: Granite Point Mortgage Trust Inc., 3 Bryant Park, 24e Floor, New York, NY 10036, phone (212) 364-5500.


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