Vehicle file · Non-traded REIT

Franklin BSP Real Estate Debt, Inc.

What its SEC filings show.

SEC CIK 2035428·Inc. MD·Fiscal year end 12/31·Data as filed · pulled Nov 10, 2026

What this file is.Not a review. Every figure below is the issuer's own number as tagged in its filings to the SEC, unadjusted, with a link to the filing it came from. When a new filing lands, the table updates; when a filing changes something for the people who hold this vehicle, we write it up and link it under Our reads.

Franklin BSP Real Estate Debt, Inc. is a non-traded REIT registered with the SEC under CIK 2035428 (incorporated in MD). Its most recent filing is an 8-K (current report) dated Nov 5, 2026. As of Jun 30, 2026 it reported total assets of $957.7M (up 298.4% from $240.4M a year earlier) and stockholders' equity of $240.2M. Net income (loss) for the six months to Jun 30, 2026 was $6.1M. It raised $87.9M from new shares in the six months to Jun 30, 2026; paid $8.8M in distributions in the six months to Jun 30, 2026; spent $47K repurchasing shares in the six months to Jun 30, 2026.

What the figures say together

Our arithmetic on the issuer's own figures, only pairing numbers from the same period or date, and ranked against the 111 other vehicles of this type we track.

Cash from operations was $10.2M against $8.8M of distributions paid in the six months to Jun 30, 2026: operations covered 116% of the payout. It ranks 25th of the 34 vehicles of this type that report the same figures (1st = best covered).
Liabilities were 72% of total assets at Jun 30, 2026. It ranks 53rd of the 77 vehicles of this type that report the same figures (1st = least leveraged).
The management fee ran at about 1.55% a year of stockholders' equity ($1.8M in the six months to Jun 30, 2026, annualised; our arithmetic). It ranks 15th of the 22 vehicles of this type that report the same figures (1st = lowest fee).

Key figures, as filed.

Balance sheet

Figure	Latest	Period	A year earlier	Change	Source
Total assets	$957.7M	as of Jun 30, 2026	$240.4M	+298.4%	10-Q · Aug 11, 2026
Cash and equivalents	$37.6M	as of Jun 30, 2026	$13.0M	+188.6%	10-Q · Aug 11, 2026
Total liabilities	$689.9M	as of Jun 30, 2026	$166.3M	+315.0%	10-Q · Aug 11, 2026
Stockholders' equity	$240.2M	as of Jun 30, 2026	$74.1M	+224.1%	10-Q · Aug 11, 2026

Results and cash flow

Figure	Latest	Period	A year earlier	Change	Source
Net income (loss)	$6.1M	six months to Jun 30, 2026	−$1.9M	+422.5%	10-Q · Aug 11, 2026
Cash from operations	$10.2M	six months to Jun 30, 2026	$1.6M	+520.3%	10-Q · Aug 11, 2026
Management fees	$1.8M	six months to Jun 30, 2026	$87K	+2008.0%	10-Q · Aug 11, 2026

Capital raised, distributions and repurchases

Figure	Latest	Period	A year earlier	Change	Source
Capital raised (common stock issued)	$87.9M	six months to Jun 30, 2026	$79.3M	+10.7%	10-Q · Aug 11, 2026
Distributions paid to common	$8.8M	six months to Jun 30, 2026	$0	—	10-Q · Aug 11, 2026
Share repurchases (cash paid)	$47K	six months to Jun 30, 2026	$0	—	10-Q · Aug 11, 2026

Flows (revenues, income, cash, distributions, repurchases) are shown for the period the issuer reported them in, which may be a quarter, a year-to-date span or a full year; “a year earlier” compares only periods of the same length. A vehicle that does not tag a figure in XBRL will not show it here even if the PDF discloses it.

Filing timeline.

The last 25 documents this issuer filed with the SEC. Marked rows are the ones that tend to matter to holders.

Nov 5, 20268-K · Current reportItems 3.02EDGAR ↗
Oct 15, 20268-K · Current reportItems 8.01EDGAR ↗
Oct 5, 20268-K · Current reportItems 3.02EDGAR ↗
Sep 18, 20268-K · Current reportItems 1.01,2.03EDGAR ↗
Sep 17, 20268-K · Current reportItems 5.02EDGAR ↗
Sep 16, 20268-K · Current reportItems 8.01EDGAR ↗
Sep 4, 20268-K · Current reportItems 1.01,2.03EDGAR ↗
Sep 4, 20268-K · Current reportItems 3.02EDGAR ↗
Aug 17, 20268-K · Current reportItems 8.01EDGAR ↗
Aug 11, 202610-Q · Quarterly reportEDGAR ↗
Aug 6, 20268-K · Current reportItems 3.02EDGAR ↗
Jul 14, 20268-K · Current reportItems 8.01EDGAR ↗
Jul 8, 20268-K · Current reportItems 3.02EDGAR ↗
Jun 15, 20268-K · Current reportItems 1.01,2.03EDGAR ↗
Jun 15, 20268-K · Current reportItems 8.01EDGAR ↗
Jun 5, 20268-K · Current reportItems 3.02EDGAR ↗
Jun 4, 20268-K · Current reportItems 1.01,2.03EDGAR ↗
Jun 2, 20268-K · Current reportItems 1.01,2.03EDGAR ↗
May 15, 20268-K · Current reportItems 8.01EDGAR ↗
May 11, 202610-Q · Quarterly reportEDGAR ↗
May 6, 20268-K · Current reportItems 1.01,2.03EDGAR ↗
May 5, 20268-K · Current reportItems 3.02EDGAR ↗
Apr 14, 20268-K · Current reportItems 8.01EDGAR ↗
Apr 7, 20268-K · Current reportItems 3.02EDGAR ↗
Mar 18, 2026D/A · FilingItems 06bEDGAR ↗

Our reads on Franklin BSP Real Estate Debt, Inc..

01Franklin BSP Real Estate Debt vs BlackRock Monticello Debt REITOct 29, 2026

Source: SEC EDGAR, XBRL company facts and filing index for CIK 2035428, retrieved Nov 10, 2026. Figures are reproduced as tagged by the issuer; errors in the source carry through, which is why every row links to the filing. Nothing here is investment advice.

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Franklin BSP Real Estate Debt, Inc.

What the figures say together

Key figures, as filed.

Filing timeline.

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