Claros Mortgage launches $763 million term loan to investors

By Sara Rosenberg

New York, Nov. 10 – Claros Mortgage Trust Inc. held a lender call at 1 p.m. ET on Wednesday to launch a $763 million term loan due August 2026 that is talked at SOFR+CSA plus 400 basis points with a 0.5% SOFR+CSA floor and an original issue discount of 99.5 to 99.75, according to a market source.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

The term loan has 101 soft call protection for six months, the source said.

JPMorgan Chase Bank is the lead on the deal.

Commitments are due at 5 p.m. ET on Nov. 18, the source added.

Proceeds will be used to reprice an existing term loan down from Libor plus 500 bps with a 1% Libor floor.

Claros Mortgage Trust is a commercial mortgage real estate investment trust with a focus on lending on large scale, transitional assets.

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