The non-traded REIT’s net asset value declined roughly 4.5 percent during the first quarter of 2026 as its loan portfolio continued to shrink.

April 16, 2026

InPoint Commercial Real Estate Income reported a net asset value of $13.50 per share in the aggregate as of March 31, 2026, representing a decline from the $14.13 per share reported at year-end 2025. The drop amounts to approximately a 4.5 percent decrease in NAV over the first quarter.

Total net asset value attributable to common stockholders fell to $136.6 million from $143.0 million at the end of 2025, a reduction of $6.4 million. The number of outstanding shares remained essentially unchanged at approximately 10.1 million.

NAV per share varied slightly across share classes due to differing stockholder servicing fees. Class P shares, which represent the largest portion of outstanding stock, were valued at $13.49 per share. Class A shares came in at $13.54, Class T at $13.67, Class D at $13.56, and Class I at $13.54.

The company’s commercial mortgage loan portfolio stood at $333.4 million as of the end of March, down from $350.9 million at the end of December 2025. Meanwhile, real estate owned increased modestly to $99.8 million from $98.9 million. Cash and restricted cash rose to $82.6 million from $79.1 million.

On the liabilities side, repurchase agreement borrowings declined to $215.1 million from $223.4 million, while loan participations sold remained relatively stable at $47.7 million. The mortgage loan payable was carried at $24.0 million, largely unchanged from the prior period.

As previously reported, InPoint posted a net loss of $7.6 million attributable to common stockholders for fiscal year 2025 as its loan portfolio contracted by more than $200 million. The company did not originate any new loans during 2025 but resumed lending activity in February 2026 with an $11.4 million first mortgage loan. Management has indicated it is evaluating a strategic repositioning of the portfolio, including potential sales of foreclosed properties and redeployment of proceeds into new loan originations.

InPoint is a non-traded REIT headquartered in Oak Brook, Illinois, that invests primarily in floating-rate commercial real estate debt. Its share repurchase plan and distribution reinvestment plan remain suspended, and there is no public trading market for its common stock.