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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Net interest income        
Interest income $ 48,663 $ 63,318 $ 96,749 $ 130,881
Interest expense (31,935) (38,066) (64,146) (78,200)
Net interest income 16,728 25,252 32,603 52,681
Property and other income        
Property operating income 35,668 25,178 62,526 50,283
Other income 1,593 2,921 4,211 6,020
Total property and other income 37,261 28,099 66,737 56,303
Expenses        
Property operating expense 16,650 7,903 26,616 16,548
Transaction, investment and servicing expense 562 391 1,192 1,013
Interest expense on real estate 6,765 6,748 13,330 13,531
Depreciation and amortization 10,607 8,953 21,159 19,343
Increase of current expected credit loss reserve 582 39,901 346 114,312
Impairment of operating real estate 51,127 45,216 51,127 45,216
Compensation and benefits (including $2,913, $3,150, $7,126 and $5,320 of equity-based compensation expense, respectively) 8,194 9,578 18,623 18,349
Operating expense 2,976 3,008 6,191 6,207
Total expenses 97,463 121,698 138,584 234,519
Other income        
Other (loss) gain, net (3,362) (142) (3,603) 189
Loss before income taxes (46,836) (68,489) (42,847) (125,346)
Income tax benefit (expense) 21,664 (194) 21,382 (446)
Net loss (25,172) (68,683) (21,465) (125,792)
Net loss attributable to noncontrolling interests:        
Investment entities 2,054 823 3,688 827
Net loss attributable to BrightSpire Capital, Inc. common stockholders $ (23,118) $ (67,860) $ (17,777) $ (124,965)
Net loss per common share - basic (in dollars per share) $ (0.19) $ (0.53) $ (0.15) $ (0.99)
Net loss per common share - diluted (in dollars per share) $ (0.19) $ (0.53) $ (0.15) $ (0.99)
Weighted average shares of common stock outstanding - basic (in shares) 127,247,000 127,986,000 127,165,000 127,656,000
Weighted average shares of common stock outstanding - diluted (in shares) 127,247,000 127,986,000 127,165,000 127,656,000
Equity-based compensation expense $ 2,913 $ 3,150 $ 7,126 $ 5,320