About Sunrise Realty Trust, Inc. - Common Stock (SUNS)
Sunrise Realty Trust is a real estate investment trust that focuses on acquiring and managing a diverse portfolio of income-generating properties. The company specializes in various types of real estate, including multi-family residential buildings and commercial spaces, aiming to deliver sustainable returns for its investors through effective property management and strategic asset acquisitions. By leveraging market insights and investment expertise, Sunrise Realty Trust seeks to enhance the value of its properties while providing quality living and business environments for tenants. Read More
WEST PALM BEACH, Fla., March 18, 2025 (GLOBE NEWSWIRE) -- Southern Realty Trust Inc. (“SRT” or the “Company”), a lender on the Tannenbaum Capital Group (“TCG”) Real Estate platform, today announced that it closed on a $15.5 million commitment to a $62.0 million senior loan originated by the TCG Real Estate platform to refinance The Bohéme, a Class-A Multifamily asset in Dallas, TX (“Bohéme” or “Property”), with $14.7 million of the SRT commitment funded at closing. The remaining $46.5 million of the total loan is held by an affiliate on the TCG Real Estate platform. The sponsor, Kairoi Residential (“Kairoi”), is a top-tier vertically integrated investment, development, and property management company specializing in Class-A+ urban multifamily projects. Since 2003, Kairoi has transacted on $9.8 billion with projects comprising over 69,000 multifamily units across 20 metro areas in the U.S.
WEST PALM BEACH, Fla., March 18, 2025 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (“SUNS” or the “Company”) (NASDAQ: SUNS), a lender on the Tannenbaum Capital Group (“TCG”) Real Estate platform, today announced that it closed on a $46.5 million commitment to a $62.0 million senior loan originated by the TCG Real Estate platform to refinance The Bohéme, a Class-A Multifamily asset in Dallas, TX (“Bohéme” or “Property”), with $44.3 million of the SUNS commitment funded at closing. The remaining $15.5 million of the total loan is held by an affiliate on the TCG Real Estate platform. The sponsor, Kairoi Residential (“Kairoi”), is a top-tier vertically integrated investment, development, and property management company specializing in Class-A+ urban multifamily projects. Since 2003, Kairoi has transacted on $9.8 billion with projects comprising over 69,000 multifamily units across 20 metro areas in the U.S.
Fourth quarter 2024 GAAP net income of $1.9 million or $0.27 per basic weighted average common share and Distributable Earnings(1) of $2.0 million or $0.30 per basic weighted average common share
WEST PALM BEACH, Fla., Feb. 12, 2025 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (“SUNS” or “the Company”) (Nasdaq: SUNS), a lender on the Tannenbaum Capital Group (“TCG”) | Real Estate platform, today announced that it will release its financial results for the fourth quarter and full year ended December 31, 2024 on Thursday, March 6, 2025 before market open. Management will review SUNS’ financial results at 10:00 am ET via webcast available on the Investor Relations website at ir.sunriserealtytrust.com. Participants are also invited to access the conference call by registering in advance at this link. A replay will be available one hour after the event.
WEST PALM BEACH, Fla., Feb. 03, 2025 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (“SUNS” or the “Company”) (Nasdaq: SUNS), a lender on the Tannenbaum Capital Group (“TCG”) | Real Estate platform, today announced that it closed on a $44.0 million commitment to a $74.5 million senior loan originated by the TCG Real Estate platform for the construction of Shell Plaza (the “Project” or “Shell Plaza”) in New Orleans. Located on Convention Center Boulevard and Henderson Street on a 1.6-acre parcel, the build-to-suit net lease property will serve as regional headquarters for Shell USA Inc. (the “Tenant”). The remaining $30.5 million of the loan was syndicated to two affiliates on the TCG Real Estate platform (comprising $20.5 million) and another affiliated lending partner (comprising $10.0 million). The sponsor is a partnership between Lauricella Land Company (“Lauricella”) and Cypress Equities (“Cypress”), leveraging Lauricella’s long-standing relationships with the Shell team in New Orleans and Cypress’ demonstrated expertise in large build-to-suit developments.
WEST PALM BEACH, Fla., Jan. 30, 2025 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (“SUNS” or the “Company”) (Nasdaq: SUNS) today announced the appointment of Alfred Trivilino as Managing Director on the Tannenbaum Capital Group | Real Estate platform. In his new role, Mr. Trivilino will play a key role in sourcing, underwriting and structuring deals with attractive risk adjusted returns for the SUNS portfolio, enabling the Company to remain at the forefront of innovation and excellence in commercial real estate credit.
WEST PALM BEACH, Fla., Jan. 30, 2025 (GLOBE NEWSWIRE) -- Southern Realty Trust Inc. (“SRT” or the “Company”), part of TCG Real Estate, today announced that it closed a senior secured revolving credit facility (“Credit Facility”), with East West Bank serving as agent and providing an initial commitment of $50 million, with the ability to expand to $200 million, subject to certain conditions and lender participation. Proceeds will support unfunded commitments under existing loans, new commercial real estate (“CRE”) loan originations aligned with SRT’s strategy, and general corporate purposes.
WEST PALM BEACH, Fla., Jan. 29, 2025 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (“SUNS” or “the Company”) (Nasdaq: SUNS), an affiliate of TCG Real Estate, today announced that it has committed $30.8 million to a $41.0 million note-on-note bridge loan. This loan is for the full repayment of an existing senior mortgage on a mixed-use asset, the “Project” or “Property”, featuring senior living, medical office, and retail located in an upscale suburb of Miami, FL. The remaining $10.3 million is held by an affiliate on the TCG Real Estate platform. The sponsor, Dornin Investment Group (“DIG” or the “Sponsor”), is a skilled operator with expertise in resolving non-performing loans (“NPLs”) with seven realized NPL deals over the last 10 years, all resulting in positive returns and over $725 million in total NPL investments.
WEST PALM BEACH, Fla., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (“SUNS” or the “Company”) (Nasdaq: SUNS), an institutional lender that originates and funds loans to commercial real estate projects in the Southern U.S., announced the pricing on January 27, 2025, of its upsized underwritten public offering (the “Offering”) of 5,750,000 shares of its common stock at a public offering price of $12.00 per share. SUNS has granted the underwriters of the Offering a 30-day option to purchase up to an additional 862,500 shares of common stock.
WEST PALM BEACH, Fla., Jan. 21, 2025 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (“Sunrise Realty” or “the Company”) (Nasdaq: SUNS), an institutional lender that originates and funds loans to commercial real estate projects in the Southern United States, today announced that it has launched an underwritten public offering (the “Offering”) of 5,500,000 shares of its common stock. Sunrise Realty intends to grant the underwriters of the Offering a 30-day option to purchase up to an additional 825,000 shares of common stock.
WEST PALM BEACH, Fla., Dec. 13, 2024 (GLOBE NEWSWIRE) -- Southern Realty Trust Inc. (“SRT” or the “Company”) today announced that it originated a senior loan in the aggregate amount of $57.0 million for the refinancing of The Loren at Lady Bird Lake (the “Project” or “The Loren”), a luxury hotel located in Austin, Texas. The Sponsor is The Loren Group, a leading real estate company that specializes in developing, owning, and managing luxury hotels in high-demand destination markets. SRT holds $25.0 million of the loan, while the remaining $32.0 million was syndicated to an affiliate on the TCG Real Estate platform. JLL Capital Market’s Debt Advisory team representing the borrower was led by Wally Reid and Scott Dickey.
WEST PALM BEACH, Fla., Dec. 13, 2024 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”) today announced that it has committed $32.0 million, of which the Company funded $29.9 million, to a $57.0 million senior loan originated by an affiliate on the TCG Real Estate platform. This loan is for the refinancing of The Loren at Lady Bird Lake (the “Project” or “The Loren”), a luxury boutique hotel located in Austin, Texas. The Sponsor is The Loren Group, a leading real estate company that specializes in developing, owning, and managing luxury hotels in high-demand destination markets. JLL Capital Market’s Debt Advisory team representing the borrower was led by Wally Reid and Scott Dickey.
WEST PALM BEACH, Fla., Nov. 18, 2024 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”) today announced that it has committed $13.0 million to a $26.0 million subordinate loan for the development of the Excel Miami Apartments (“Excel” or the “Project”), a 24-story multifamily tower located at 1550 NE Miami Place in Miami’s Art & Entertainment District. An affiliated entity committed the remaining $13.0 million of the total loan amount. Centennial Bank provided a $68.5 million senior construction loan, with Jay Brito orchestrating the senior loan transaction. The Sponsor is Clearline Real Estate (“Clearline”), a real estate investment and development firm led by Jenny Bernell. Clearline is headquartered in New York and Miami and focuses on multifamily real estate investments across growing U.S. regions.
WEST PALM BEACH, Fla., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”) today announced the successful closing of a new senior secured revolving credit facility with East West Bank serving as agent and the initial lender (the “Revolving Credit Facility”). The Revolving Credit Facility provides access up to $200 million in borrowing capacity, subject to available borrowing base and additional commitments, with an initial commitment of $50 million. With favorable terms, including an interest rate of SOFR plus 2.75% (subject to a SOFR floor of 2.63% and other conditions), the Revolving Credit Facility offers SUNS flexibility to borrow and repay funds as needed. This facility strengthens SUNS’ ability to pursue strategic growth initiatives and capitalize on high-quality investment opportunities across the Southern United States.
Third quarter 2024 GAAP net income of $1.7 million or $0.26 per basic weighted average common share and Distributable Earnings(1) of $1.9 million or $0.27 per basic weighted average common share
WEST PALM BEACH, Fla., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”) today announced that it has committed $30.0 million, of which the Company funded $3.6 million, to a $96.0 million senior loan for the development of the Sixth & Rio condominium project (the “Project”) in Fort Lauderdale, Florida. The remaining $66.0 million of the total loan amount was syndicated to two co-lenders, one of whom is an affiliated entity. The Sponsor is OceanLand Investments LLC (“OceanLand”), a Fort Lauderdale-based real estate development firm with extensive experience in luxury waterfront properties.
WEST PALM BEACH, Fla., Oct. 08, 2024 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”) today announced that it plans to report earnings for the quarter ended September 30, 2024 on Thursday, November 7, 2024.
WEST PALM BEACH, Fla., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”) today announced that it has committed $40.0 million of which the Company funded $27.5 million in a credit facility for the development of Panther National (the “Project”), a residential and golf community in Palm Beach Gardens, Florida. Two affiliated entities also committed an aggregate of $120.0 million for a total facility amount of $160.0 million. The Project sponsor is Centaur Holdings (“Centaur”), a global investment holding company with a diversified portfolio across various sectors. Faisal Ashraf, Managing Partner of Lotus Capital Partners, arranged and structured the financing on behalf of Centaur.
