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INPOINT COML REAL ESTATE INCOME INC (ICRP0.00%) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The company reported net income attributable to common stockholders of $6.7 million, or $0.66 per share, during the year ended December 31, 2024. This includes a provision for credit losses of $2.3 million.
During 2024, INPOINT did not originate any new loans but focused on maintaining liquidity as several loans approached maturity. The company had loan repayments totaling $123.8 million and funded $10.2 million on existing loans.
INPOINT foreclosed on two loans, resulting in the acquisition of three properties, and sold one loan at par with an outstanding balance of $12.7 million.
Total operating expenses for the year were $10.4 million, a decrease from the previous year, primarily due to the sale of the Renaissance O’Hare property in September 2023.
The company declared gross distributions of $1.25 per common share during the year, representing an annualized rate of 7.6% on its aggregate NAV as of December 31, 2024.
As of December 31, 2024, INPOINT had $64.5 million in cash and $205 million in available capacity on its borrowing facilities.
The company continues to focus on positioning its portfolio for potential strategic alternatives to maximize stockholder value and provide liquidity when market conditions improve.
INPOINT's board of directors has adopted valuation guidelines for determining the NAV of its assets and liabilities, which is reviewed by an independent valuation advisor.
The company is externally managed by Inland InPoint Advisor, LLC, and has a sub-advisory agreement with Sound Point CRE Management, LP for certain services.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the INPOINT COML REAL ESTATE INCOME INC annual 10-K report dated March 14, 2025. To report an error, please email earnings@qz.com.