Granite Point Mortgage Trust Inc. Announces Earnings Release and Conference Call for Third Quarter 2017 Financial Results and Business Update

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NEW YORK--(BUSINESS WIRE)-- Granite Point Mortgage Trust Inc. (NYSE: GPMT), a commercial real estate investment trust (REIT) focused on directly originating, investing in and managing senior floating rate commercial mortgage loans and other debt and debt-like commercial real estate investments, announced today that it will release financial results for the quarter ended September 30, 2017 after market close on November 6, 2017. The company will host a conference call to review the financial results on November 7, 2017, at 10:00 a.m. EST.

To participate in the teleconference, approximately 10 minutes prior to the above start time please call toll-free (866) 807-9684, (or (412) 317-5415 for international callers), and ask to be joined into the Granite Point Mortgage Trust Inc. call. You may also listen to the teleconference live via the Internet at www.gpmortgagetrust.com, in the Investors section under the Events and Presentations link. For those unable to attend, a telephone playback will be available beginning November 7, 2017 at 12:00 p.m. EST through November 14, 2017 at 12:00 a.m. EST. The playback can be accessed by calling (877) 344-7529 (or (412) 317-0088 for international callers) and providing the Access Code 10112441. The call will also be archived on the company’s website in the Investors section under the Events and Presentations link.

Business Update

  • During the third quarter of 2017, the company originated 11 senior floating rate commercial mortgage loans representing aggregate loan amounts of approximately $450 million, inclusive of future fundings. The majority of these loans closed in the later part of the third quarter. The company funded approximately $390 million of loan investments, bringing the total outstanding principal balance of its investment portfolio to approx. $2.2 billion at September 30, 2017.
  • The company continues to develop a healthy flow of high quality investments for its portfolio. As of October 17, 2017, it had a pipeline of senior floating rate commercial mortgage loans representing aggregate loan amounts of approximately $290 million, inclusive of future fundings, with initial funding loan amounts of approximately $200 million, which have either closed since September 30, 2017 or are in the closing process, subject to fallout.

About Granite Point Mortgage Trust Inc.
Granite Point Mortgage Trust Inc. is a Maryland corporation focused on directly originating, investing in and managing senior floating rate commercial mortgage loans and other debt and debt-like commercial real estate investments. Granite Point intends to elect and qualify to be taxed as a REIT. Granite Point is headquartered in New York, New York, and is externally managed by Pine River Capital Management L.P. Additional information is available at www.gpmortgagetrust.com.

Additional Information
Stockholders of Granite Point and other interested persons may find additional information regarding the company at the Securities and Exchange Commission’s Internet site at www.sec.gov or by directing requests to: Granite Point Mortgage Trust Inc., 590 Madison Avenue, 38th Floor, New York, NY 10022, telephone 212-364-3200.

Granite Point Mortgage Trust Inc.
Investors:
Marcin Urbaszek, 212-364-3718
Chief Financial Officer
marcin.urbaszek@prcm.com

Source: Granite Point Mortgage Trust Inc.

Released October 17, 2017