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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Net interest income        
Interest income $ 48,889 $ 59,587 $ 145,638 $ 190,468
Interest expense (31,364) (38,862) (95,510) (117,062)
Net interest income 17,525 20,725 50,128 73,406
Property and other income        
Property operating income 32,536 26,051 95,063 76,334
Other income 2,513 2,513 6,724 8,534
Total property and other income 35,049 28,564 101,787 84,868
Expenses        
Property operating expense 19,675 8,431 46,293 24,980
Transaction, investment and servicing expense 854 225 2,046 1,238
Interest expense on real estate 5,170 6,747 18,499 20,278
Depreciation and amortization 7,188 10,087 28,346 29,430
Increase of current expected credit loss reserve 8,215 1,001 8,562 115,313
Impairment of operating real estate 2,509 0 53,636 45,216
Compensation and benefits (including $2,794, $3,421, $9,920 and $8,741 of equity-based compensation expense, respectively) 8,077 8,191 26,700 26,540
Operating expense 2,857 2,979 9,048 9,185
Total expenses 54,545 37,661 193,130 272,180
Other income        
Other gain (loss), net 538 37 (3,065) 226
Income (loss) before income taxes (1,433) 11,665 (44,280) (113,680)
Income tax benefit (expense) 129 (244) 21,511 (691)
Net income (loss) (1,304) 11,421 (22,769) (114,371)
Net loss attributable to noncontrolling interests:        
Investment entities 2,288 1,308 5,976 2,134
Net income (loss) attributable to BrightSpire Capital, Inc. common stockholders $ 984 $ 12,729 $ (16,793) $ (112,237)
Net income (loss) per common share - basic (in dollars per share) $ 0.00 $ 0.10 $ (0.14) $ (0.89)
Net income (loss) per common share - diluted (in dollars per share) $ 0.00 $ 0.09 $ (0.14) $ (0.89)
Weighted average shares of common stock outstanding - basic (in shares) 126,940,000 127,515,000 127,089,000 127,609,000
Weighted average shares of common stock outstanding - diluted (in shares) 129,845,000 130,144,000 127,089,000 127,609,000