X0202 SCHEDULE 13G 0002122039 XXXXXXXX LIVE Class A Common Stock, par value $0.01 per share 03/31/2026 0001717547 BrightSpire Capital, Inc. 10949T109 590 MADISON AVENUE 33RD FLOOR NEW YORK NY 10022 Rule 13d-1(c) CWRE SSF Securities Holding, LP DE 0 6531229 0 6531229 6531229 N 5 PN Percent of class is based on 130,278,065 shares of Class A common stock issued and outstanding as of March 23, 2026, as reported by BrightSpire Capital, Inc. in its definitive proxy statement filed with the Securities and Exchange Commission on April 1, 2026. CWRE Special Situations Fund GP, LLC DE 0 6531229 0 6531229 6531229 N 5 PN Percent of class is based on 130,278,065 shares of Class A common stock issued and outstanding as of March 23, 2026, as reported by BrightSpire Capital, Inc. in its definitive proxy statement filed with the Securities and Exchange Commission on April 1, 2026. CW Investment Advisers, LLC DE 0 6531229 0 6531229 6531229 N 5 IA Percent of class is based on 130,278,065 shares of Class A common stock issued and outstanding as of March 23, 2026, as reported by BrightSpire Capital, Inc. in its definitive proxy statement filed with the Securities and Exchange Commission on April 1, 2026. Hon Kit Shing Q2 0 6531229 0 6531229 6531229 N 5 IN Percent of class is based on 130,278,065 shares of Class A common stock issued and outstanding as of March 23, 2026, as reported by BrightSpire Capital, Inc. in its definitive proxy statement filed with the Securities and Exchange Commission on April 1, 2026. BrightSpire Capital, Inc. 590 MADISON AVENUE, 33RD FLOOR, NEW YORK, New York, 10022 CWRE SSF Securities Holding, LP CWRE Special Situations Fund GP, LLC CW Investment Advisers, LLC Hon Kit Shing 333 South Hope Street, Suite 2500, Los Angeles CA 90071 CWRE SSF Securities Holding, LP is a Delaware limited partnership; CWRE Special Situations Fund GP, LLC is a Delaware limited liability company; CW Investment Advisers, LLC is a Delaware limited liability company; and Hon Kit Shing is a New Zealand citizen. Y The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person. CWRE Special Situations Fund GP, LLC ("Fund GP") is the general partner of CWRE SSF Securities Holding, LP ("Securities Holding"). In such capacity, Fund GP may be deemed to be the beneficial owner of the Common Stock owned directly by Securities Holding. CW Investment Advisers, LLC ("Investment Advisers") acts as investment manager to Securities Holding pursuant to an investment management agreement. Under such agreement, Investment Advisers has discretionary investment authority and voting power with respect to the shares of Common Stock directly held by Securities Holding. As such, Investment Advisers could be deemed to beneficially own the shares of Common Stock owned directly by Securities Holding. Mr. Shing is the sole director of Fund GP and the manager of Investment Advisers and, as such, could be deemed to beneficially own the shares of Common Stock owned directly by Securities Holding. The filing of this Schedule 13G shall not be construed as an admission that any of Fund GP, Investment Advisers or Mr. Shing is, for purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, the beneficial owner of any securities covered by this Schedule 13G. The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person. The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person. The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person. The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person. The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person. Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Exhibit 1: Joint Filing Agreement, dated as of April 7, 2026, by and among CWRE SSF Securities Holding, LP, CWRE Special Situations Fund GP, LLC, CW Investment Advisers, LLC, and Hon Kit Shing, as required by Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended. CWRE SSF Securities Holding, LP /s/ Hon Kit Shing 04/07/2026 CWRE Special Situations Fund GP, LLC /s/ Hon Kit Shing 04/07/2026 CW Investment Advisers, LLC /s/ Hon Kit Shing 04/07/2026 Hon Kit Shing /s/ Hon Kit Shing 04/07/2026