Adjusted loss of $5.5M or $0.07 per share compares to $300K loss one year ago.
Investment activity: $180.8M of new investments, $267.7M in proceeds from portfolio - $102.9M from repayments and sales of loans, $76M from sales of net lease assets, $47.7M from sales of operating properties, and $41.1M of proceeds from other segments. $409.6M of cash awaits future investment opportunities.
Real estate finance portfolio of $1.51B, with $1.3B of performing loans, and NPLs with carrying value of $203.2M. Q1 reversal of loan loss provision of $3.4M compares to charge of $10.2M one year ago. Loan loss reserves of $370.1M are 21.9% of carrying value of all loans.
CC at 10 ET
Previously: iStar Financial EPS of -$0.07