The real estate debt vehicle continues its ongoing capital-raising effort across three classes of convertible common stock.

June 8, 2026

Franklin BSP Real Estate Debt, Inc. raised approximately $24 million through the sale of nearly one million shares of common stock as part of its continuous private offering, according to a disclosure dated June 1, 2026.

The company sold an aggregate of 966,315.02 shares across three distinct classes of stock — Class G, Class G-D, and Class G-S common stock — to investors. The transactions were exempt from registration under the Securities Act of 1933 by virtue of Section 4(a)(2) and Regulation D, the provisions typically relied upon for private placements to accredited investors.

Breakdown of the Offering

The sale spanned three share classes, each priced slightly differently:

• Class G Common Stock: 570,104.33 shares sold at $24.92 per share, generating roughly $14.2 million.
• Class G-D Common Stock: 274,747.47 shares priced at $24.75 each, raising $6.8 million.
• Class G-S Common Stock: 121,463.22 shares at $24.74 per share, contributing approximately $3.03 million, a figure that included upfront selling commissions and placement fees of $23,950.

The combined aggregate consideration across all three classes reached approximately $24.04 million, with prices reflecting applicable upfront selling commissions and placement fees.

Conversion Features

Each of the three share classes carries similar conversion provisions. Upon certain events — including the liquidation, dissolution, or winding up of the company, or a listing of its shares on a national securities exchange — the Class G, Class G-D, and Class G-S shares will automatically convert into Class I common stock with an equivalent net asset value.

In addition, the company retains the ability to convert each class into a corresponding Class F share variant. These optional conversions are subject to a limitation preventing any single stockholder from owning more than 4.99 percent of the aggregate Class F, Class F-D, and Class F-S common stock outstanding following such a conversion.

About the Company

Franklin BSP Real Estate Debt, Inc. is a Maryland-incorporated entity headquartered in New York. The company operates as an emerging growth company and has not registered any securities for trading on a public exchange, instead raising capital through its ongoing private offering. The disclosure was signed by Jerome S. Baglien, the company’s Chief Financial Officer, Chief Operating Officer, and Treasurer.