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ICR-PA on NYSE

InPoint Commercial Real Estate Income, Inc.

American real estate investment trust based in Oak Brook2

In its 2026 annual report the company says: “InPoint Commercial Real Estate Income, Inc. holds a diversified portfolio of CRE investments primarily comprised of CRE debt, including (a) primarily floating rate first mortgage loans and (b) subordinate mortgage and mezzanine loans. We may also invest in participations in loans secured by CRE, floating rate CRE securities, such as CMBS, senior unsecured debt of publicly traded real estate investment trusts and select equity investments in single-tenant, net leased properties.”6 Its shares trade on NYSE under the symbol ICR-PA.2

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Last updated Oct 21, 2026.

Overview

$23.0MRevenue, fiscal 20253
-$1.6MNet income, fiscal 20253

Compare with Cherry Hill Mortgage Investment Corp, BIMINI CAPITAL MANAGEMENT, INC. or Sunrise Realty Trust, Inc., or pick any stock.

  • TickerICR-PA on NYSE2
  • IndustryReal Estate Investment Trusts2
  • HeadquartersOak Brook, United States2
  • Incorporated inMD4
  • Business address2901 Butterfield Road, Oak Brook, Il 605234
  • Filer categoryNon-accelerated filer, Smaller reporting company4
  • Legal formINCORPORATED2
  • LEI549300Y1UHXUM1OZXN162
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O The Corporation Trust Incorporated, 21201 Baltimore, United States2

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InPoint Commercial Real Estate Income, Inc. (the “Company,” “we,” “our” or “us”) holds a diversified portfolio of CRE investments primarily comprised of CRE debt, including (a) primarily floating rate first mortgage loans and (b) subordinate mortgage and mezzanine loans. We may also invest in participations in loans secured by CRE, floating rate CRE securities, such as CMBS, senior unsecured debt of publicly traded real estate investment trusts (“REITs”) and select equity investments in single-tenant, net leased properties. Substantially all of our business is conducted through InPoint REIT Operating Partnership, LP (the “Operating Partnership”), a Delaware limited partnership. We are the sole general partner and directly or indirectly hold all of the limited partner interests in the Operating Partnership. We have elected to be taxed as a REIT for U.S. federal income tax purposes. We are…6 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-6.8%Net margin3
-5.7%Revenue growth, 20253
-0.7%Return on equity3

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs100¢$23.0M

Out of $23.0M in revenue.3 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid100¢$12.6M

Out of $11.4M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.3

Financial statements

Revenue78910113$23.0M in 2025+228% since 2018
0$10.0M$20.0M$30.0M$40.0M2018: $7.0M$7.0M20182019: $20.3M$20.3M2019+189%2020: $24.1M$24.1M2020+19%2021: $28.3M$28.3M2021+17%2022: $38.0M$38.0M2022+34%2023: $38.8M$38.8M2023+2%2024: $24.4M$24.4M2024−37%2025: $23.0M$23.0M2025−6%
Net income78910113-$1.6M in 2025
-$40.0M-$20.0M0$20.0M2018: $2.1M$2.1M20182019: $13.7M$13.7M2019+562%2020: -$28.8M-$28.8M20202021: $9.9M$9.9M20212022: $10.2M$10.2M2022+3%2023: -$4.4M-$4.4M20232024: $12.7M$12.7M20242025: -$1.6M-$1.6M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.3

Period ending2025-12-312024-12-312023-12-31
Interest income$38.0M$58.1M$68.3M
Less: Interest expense-$24.0M-$36.5M-$42.2M
Net interest income$14.0M$21.6M$26.1M
Revenue from real estate$9.0M$2.8M$12.7M
Total income$23.0M$24.4M$38.8M
Advisory fee$3.1M$3.2M$3.4M
Amortization of debt finance costs$1.3M$1.5M$1.9M
Directors compensation$76.0K$78.0K$80.0K
Professional service fees$1.1M$936.0K$286.0K
Real estate operating expenses$5.6M$1.8M$11.7M
Provision for asset impairment$0$0$6.9M
Depreciation and amortization$5.4M$1.5M$514.0K
Other expenses$1.2M$1.4M$1.7M
Total operating expenses$17.9M$10.4M$26.5M
Reversal of (provision for) credit losses$1.2M-$2.3M-$16.9M
Gain on sale of real estate$0$0$206.0K
Net realized (loss) gain on disposition of commercial loans-$7.9M$929.0K$0
Total other loss-$6.7M-$1.4M-$16.7M
Net (loss) income before income taxes-$1.6M$12.7M-$4.4M
Income tax provision$0$0-$22.0K
Net (loss) income-$1.6M$12.7M-$4.4M
Gain on repurchase and retirement of preferred stock$0$0$21.0K
Net (loss) income attributable to common stockholders-$7.6M$6.7M-$10.4M
Net (loss) income per share attributable to common stockholders, basic-$0.75$0.66-$1.03
Net (loss) income per share attributable to common stockholders, diluted-$0.75$0.66-$1.03
Basic10.1M shares10.1M shares10.1M shares
Diluted10.1M shares10.1M shares10.1M shares

Compare InPoint Commercial Real Estate Income, Inc. with another company

Corporate structure

InPoint Commercial Real Estate Income, Inc. sits at the top of its group. 16 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

  • InPoint Commercial Real Estate Income, Inc. Oak Brook, Illinois, United States
    • InPoint Addison Belvedere, LLC Subsidiary · Delaware, United States
    • InPoint Addison Meridian, LLC Subsidiary · Delaware, United States
    • InPoint Charlotte Parkview, LLC Subsidiary · Delaware, United States
    • InPoint CS Loan, LLC Subsidiary · Delaware, United States
    • InPoint JPM Loan, LLC Subsidiary · Delaware, United States
    • InPoint Kansas City Arbor Mist, LLC Subsidiary · Delaware, United States
    • InPoint KC Arbor Mist HoldCo, LLC Subsidiary · Delaware, United States
    • InPoint Portland Fitz, LLC Subsidiary · Delaware, United States
    • InPoint REIT Holdings, LLC Subsidiary · Delaware, United States
    • InPoint REIT Operating Partnership, LP Subsidiary · Delaware, United States
    • InPoint Sub-REIT Common, LLC Subsidiary · Delaware, United States
    • InPoint Sub-REIT, LLC Subsidiary · Delaware, United States
    • InPoint TRS, LLC Subsidiary · Delaware, United States
    • Sound Point CRE CLO 2020-1 Co-Issuer, LLC Subsidiary · Delaware, United States
    • Sound Point CRE CLO 2020-1 Holder, LLC Subsidiary · Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC. Each entity in the chart links to its source.

What it owns

What InPoint Commercial Real Estate Income, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Real estate and locations

ItemLatestA year beforeChange
Real estate investments, net$93.3M3 Dec 31, 2025$39.6M3 Dec 31, 2024+135.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$76.6M3 Dec 31, 2025$64.5M3 Dec 31, 2024+18.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Accumulated amortization$3.6M3 Dec 31, 2025$873.0K3 Dec 31, 2024+313.4%
Finite-lived intangibles, net$4.1M3 Dec 31, 2025$3.0M3 Dec 31, 2024+38.2%

Properties, in its own words

Our principal executive office is located at 2901 Butterfield Rd., Oak Brook, Illinois 60523. As part of the Advisory Agreement, the Advisor is responsible for providing office space and office services required in rendering services to us. For an overview of our real estate investments, see Item 7 — “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Portfolio.”

Item 2 of the 10-K filed Mar 13, 2026.6

Leadership

Who has led InPoint Commercial Real Estate Income, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Mitchell A. Sabshon2017–2020
  2. Denise C. Kramer2024

President

  1. Donald J. Mackinnon2017–2020

Chief financial officer

  1. Catherine L. Lynch2017
20202025
Board members and other officers (10)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • InPoint Addison Belvedere, LLC Delaware5
  • InPoint Addison Meridian, LLC Delaware5
  • InPoint CS Loan, LLC Delaware5
  • InPoint Charlotte Parkview, LLC Delaware5
  • InPoint JPM Loan, LLC Delaware5
  • InPoint KC Arbor Mist HoldCo, LLC Delaware5
  • InPoint Kansas City Arbor Mist, LLC Delaware5
  • InPoint Portland Fitz, LLC Delaware5
  • InPoint REIT Holdings, LLC Delaware5
  • InPoint REIT Operating Partnership, LP Delaware5
  • InPoint Sub-REIT Common, LLC Delaware5
  • InPoint Sub-REIT, LLC Delaware5
  • InPoint TRS, LLC Delaware5
  • Sound Point CRE CLO 2020-1 Co-Issuer, LLC Delaware5
  • Sound Point CRE CLO 2020-1 Holder, LLC Delaware5
  • Sound Point CRE CLO 2020-1 Issuer, Ltd. Cayman Islands5

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Oct 15, 20268-K Other events28
  2. Sep 29, 20268-K Other events29
  3. Sep 21, 20268-K Shareholder vote30
  4. Sep 15, 20268-K Other events31
  5. Sep 14, 20268-K Regulation FD disclosure; Other events32
  6. Aug 28, 20268-K Other events33
  7. Aug 14, 20268-K Other events34
  8. Jul 30, 20268-K Regulation FD disclosure; Other events35
  9. Jul 15, 20268-K Other events36
  10. Jun 29, 20268-K Other events37
  11. Jun 15, 20268-K Other events38
  12. May 28, 20268-K Other events39
  13. Dec 4, 2024New chief executive Denise C. Kramer becomes CEO17
  14. Jun 30, 2017New chief executive Mitchell A. Sabshon becomes CEO18

Calendar

When it reported results

  1. Jul 18, 2022Reported quarterly or annual results40
  2. Apr 7, 2022Reported quarterly or annual results41
  3. Jan 11, 2022Reported quarterly or annual results42
  4. Oct 14, 2021Reported quarterly or annual results43

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

253 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 140 major events, 22 insider forms, 71 other. The latest 20:

  1. Oct 15, 20268-K EDGAR
  2. Sep 29, 20268-K EDGAR
  3. Sep 21, 20268-K EDGAR
  4. Sep 18, 20264 EDGAR
  5. Sep 18, 20264 EDGAR
  6. Sep 18, 20264 EDGAR
  7. Sep 15, 20268-K EDGAR
  8. Sep 14, 2026DEFA14A EDGAR
  9. Sep 14, 20268-K EDGAR
  10. Aug 28, 20268-K EDGAR
  11. Aug 17, 2026DEFA14A EDGAR
  12. Aug 14, 2026DEFA14A EDGAR
  13. Aug 14, 20268-K EDGAR
  14. Aug 12, 202610-Q EDGAR
  15. Aug 4, 2026DEFA14A EDGAR
  16. Jul 30, 2026DEFA14A EDGAR
  17. Jul 30, 20268-K EDGAR
  18. Jul 15, 20268-K EDGAR
  19. Jun 30, 2026DEFA14A EDGAR
  20. Jun 30, 2026DEFA14A EDGAR

The 253 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

SEC filer profile

How InPoint Commercial Real Estate Income, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARInPoint Commercial Real Estate Income, Inc.1
  • CIK0001690012
  • Employer ID (EIN)32-05062676
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company6
  • Incorporated inMaryland6
  • Fiscal year endsDecember 311
  • Industry code (SIC)6798 Real Estate Investment Trusts1
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
  • Business address2901 Butterfield Road, Oak Brook, IL 605231
  • Phone630-218-80001
  • Shares outstanding10,119,869 Common Class Of PATDI And S shares; 8,562,777 Common Class P shares; 745,881 Common Class A shares; 290,345 Common Class T shares; 48,015 Common Class D shares; 472,851 Common Class I shares as of Mar 12, 20266
  • Public float$0 as of Dec 31, 20253
  • AuditorKPMG LLP, Chicago, IL PCAOB ID 185; no auditor attestation of internal control over financial reporting6
  • On EDGAR sinceNov 18, 20161
  • Filings550 in all: 8-K (239), 4 (103), 424B3 (55), DEFA14A (41), 10-Q (28), 3 (13), 10-K (9), CORRESP (7)1
    All 32 form types

    DEF 14A (6), EFFECT (6), UPLOAD (6), POS AM (5), POS EX (4), S-11/A (4), S-11 (3), 10-12G/A (2), 8-K/A (2), ARS (2), D/A (2), 10-12G (1), 10-K/A (1), 4/A (1), 424B1 (1), 8-A12B (1), CERT (1), D (1), DRS (1), FWP (1), PRE 14A (1), S-11MEF (1), SC 13G (1), SC 13G/A (1)

  • Latest filingsAnnual report (10-K) Mar 13, 2026
    Quarterly report (10-Q) Aug 12, 2026
    Proxy statement (DEF 14A) Jun 24, 2026
    Latest 8-K (8-K) Oct 15, 2026

Securities registered for trading

ClassSymbolExchange
6.75% Series A Cumulative Redeemable Preferred Stock, par value $0.001ICR PR ANew York Stock Exchange

From the cover page of the 10-K filed Mar 13, 2026 (Section 12(b) of the Exchange Act).6

Risk factors and legal proceedings

The risks InPoint Commercial Real Estate Income, Inc. names in Item 1A of its 10-K filed Mar 13, 2026: 74 risks under these headings, as written.6

  • Risks Related to an Investment in Our Company
  • We have had an accumulated deficit in the past and may continue to have an accumulated deficit in the future.
  • There is no public trading market for shares of our common stock; therefore, our stockholders’ ability to dispose of their shares will likely be limited to repurchase by us through our SRP, which is currently suspended. Even if stockholders are able to sell their shares to us, they may receive less than the price they paid.
  • Economic events that may cause our stockholders to request that we repurchase their shares may materially adversely affect our cash flow and our results of operations and financial condition.
  • The Advisor and the Sub-Advisor manage our portfolio pursuant to very broad investment guidelines and generally are not required to seek the approval of our Board for each investment, financing or asset allocation decision made by it, which may result in our making riskier investments and which could adversely affect our results of operations and financial condition.
  • The amount and source of distributions we may pay to our stockholders is uncertain, and we may be unable to generate sufficient cash flows from our operations to pay distributions to our stockholders at any time in the future.
  • We have paid and may continue to pay distributions from sources other than our earnings and cash flow from operations, including, without limitation, the sale of assets, borrowings, repayment of real estate debt investments, return of capital, offering proceeds and advances or the deferral of fees and expense reimbursements, and we have no limits on the amounts we may pay from such sources.
  • Valuations and appraisals of our properties and real estate-related assets are estimates of fair value and may not necessarily correspond to realizable value.
  • Our NAV per share may suddenly change if the estimated values of our illiquid assets materially change from prior estimates or the actual operating results for a particular month differ from what we originally estimated for that month.
  • It may be difficult to reflect, fully and accurately, material events that may impact our monthly NAV.
  • If we are unable to raise future equity capital, we will be limited in the number and type of investments we make and the value of investments in us will fluctuate with the performance of the specific assets we have acquired.
  • NAV calculations are not governed by governmental or independent securities, financial or accounting rules or standards.
The other 63 risks
  • The Sub-Advisor may not be successful, or there may be delays, in locating suitable investments, which could limit our ability to pay distributions and lower the overall return on our stockholders’ investment.
  • Our ability to achieve our investment objectives and to pay distributions depends in substantial part upon the performance of the Advisor, the Sub-Advisor and third-party servicers.
  • Because we are dependent upon the Advisor, the Sub-Advisor and their affiliates to conduct our operations, any adverse changes in the financial health of these entities or our relationship with them could hinder our operating performance and the return on our stockholders’ investment.
  • The loss of or the inability to retain or hire key investment professionals at the Advisor, the Sub-Advisor or their respective affiliates could delay or hinder implementation of our investment strategies, which could limit our ability to pay distributions and decrease the value of our stockholders’ investment.
  • Failure by us, the Advisor, the Sub-Advisor, or our service providers (including our transfer agent), tenants or borrowers to implement effective information and cybersecurity policies, procedures and capabilities could disrupt our business and harm our results of operations.
  • Our operations may be subject to an increasing number of cyber incidents, which could have a material adverse effect on our business, financial condition, results of operations, and cash flows.
  • Disruptions in our information technology systems or a compromise of security with respect to our systems could adversely affect our operating results by limiting our ability to effectively monitor and control our operations, adjust to changing market conditions, or implement strategic initiatives.
  • We may become subject to greater liability due to changing regulations and laws regarding cybersecurity, which could materially adversely affect our business, operations, results of operations and profitability.
  • We are subject to risks associated with artificial intelligence and machine learning technology.
  • We may change our investment strategy without our stockholders’ consent and make riskier investments.
  • Risks Related to Our Investments
  • Our CRE debt and securities investments are subject to the risks typically associated with CRE.
  • A prolonged economic slowdown, a lengthy or severe recession or declining real estate values could harm our investments.
  • We are subject to significant competition, and we may not be able to compete successfully for investments.
  • We may not be effective in originating, acquiring and managing our investments.
  • The CRE debt we originate and may invest in and mortgage loans underlying the CRE securities we may invest in are subject to risks of delinquency, taking title to collateral, loss and bankruptcy of the borrower under the loan. If the borrower defaults, it may result in losses to us.
  • If the value of real property or other assets securing our CRE debt investments deteriorates.
  • If a borrower or guarantor defaults on recourse obligations under a CRE debt investment.
  • Our due diligence may not reveal all of a borrower’s liabilities and may not reveal other weaknesses in its business.
  • Delays in liquidating defaulted CRE debt investments could reduce our investment returns.
  • We may be subject to risks associated with future advance or capital expenditure obligations, such as declining real estate values and operating performance.
  • We may be unable to restructure our investments in a manner that we believe maximizes value, particularly if we are one of multiple creditors in a large capital structure.
  • CRE debt restructurings may reduce our net interest income or require provisions for credit losses.
  • Our CRE debt and securities investments may be adversely affected by changes in credit spreads.
  • Provision for credit losses is difficult to estimate, particularly in a challenging economic environment.
  • The subordinate CRE debt we originate and acquire may be subject to risks relating to the structure and terms of the related transactions, as well as subordination in bankruptcy, and there may not be sufficient funds or assets remaining to satisfy our investments, which may result in losses to us.
  • We may make investments in assets with lower credit quality, which will increase our risk of losses.
  • Investments in non-performing real estate assets involve greater risks than investments in stabilized, performing assets and make our future performance more difficult to predict.
  • We have in the past and may in the future foreclose on certain of the loans we originate or acquire, which could result in losses that negatively impact our results of operations and financial condition.
  • As an owner of real estate, we are subject to the risks inherent in the ownership and operation of real estate and the construction and development of real estate.
  • Floating-rate CRE debt, which is often associated with transitional assets, may entail greater risks of default to us than fixed-rate CRE debt.
  • Tenant defaults may have a material adverse effect on our property holdings.
  • Our real estate portfolio includes three office assets we acquired through foreclosures, which have generally experienced a decrease in demand and value since the COVID-19 pandemic. Office assets may experience a further decrease in demand and value and such decrease in demand could have a material adverse effect on us. Further, our ability to sell any of our office assets may be limited in the current economic climate.
  • Our real estate portfolio includes two multifamily assets we acquired through foreclosures. Accordingly, our revenues from such assets will be significantly influenced by demand for multifamily housing generally, and a decrease in such demand would likely have an adverse effect on our revenues.
  • Fluctuations in interest rates and credit spreads could reduce our ability to generate income on our loans and other investments, which could lead to a significant decrease in our results of operations, cash flows and the market value of our investments and may limit our ability to pay distributions to our stockholders.
  • Insurance may not cover all potential losses on CRE investments, which may impair the value of our assets.
  • We depend on borrowers and tenants for a substantial portion of our revenue and, accordingly, our revenue and our ability to pay distributions to our stockholders is dependent upon the success and economic viability of such borrowers and tenants.
  • If we overestimate the value or income-producing ability or incorrectly price the risks of our investments, we may experience losses.
  • Lease defaults, terminations or landlord-tenant disputes from single-tenant net leased investments may reduce our income.
  • Environmental compliance costs and liabilities associated with our properties or our real estate-related investments may materially impair the value of our investments and expose us to liability.
  • We may invest in CRE securities, including CMBS, CRE CLOs and other subordinate securities, which entail certain heightened risks.
  • The terms of our CRE debt investments are based on our projections of market demand, as well as on market factors, and our return on our investment may be lower than expected if any of our projections are inaccurate.
  • Risks Related to Our Financing Strategy
  • We may not be able to access financing sources on attractive terms, if at all, which could adversely affect our ability to execute our investment strategy.
  • We use leverage to originate and acquire our investments, which may adversely affect our return on our investments and may reduce cash available for distribution.
  • Our performance can be negatively affected by fluctuations in interest rates and shifts in the yield curve may cause losses.
  • We use short-term borrowings to finance our investments and may need to use such borrowings for extended periods of time to the extent we are unable to access long-term financing. This exposes us to increased risks associated with decreases in the fair value of the underlying collateral, which have had an adverse impact on our financial condition and results of operations in the past and may result in such adverse impacts again.
  • Lenders may require us to enter into restrictive covenants relating to our operations, which could limit our ability to pay distributions to our stockholders.
  • We have broad authority to use leverage and high levels of leverage could hinder our ability to pay distributions and decrease the value of our stockholders’ investment.
  • If a counterparty to our repurchase transactions defaults on its obligation to resell the underlying security back to us at the end of the transaction term, if the value of the underlying security has declined as of the end of that term, or if we default on our obligations under the repurchase agreement, we may incur a loss on our repurchase transactions.
  • The repurchase agreements, secured loans and other financing arrangements that we use to finance our investments may require us to provide additional collateral and may restrict us from leveraging our assets as fully as desired.
  • A failure to comply with covenants in our repurchase agreements, secured loans and other financing arrangements would have a material adverse effect on us, and any future financings may require us to provide additional collateral or pay down debt.
  • We may incur mortgage indebtedness and other borrowings, which could increase our financial risks, could hinder our ability to make distributions and could decrease the value of our stockholders’ investments.
  • Risks Related to Our Operations
  • If the Advisor’s and the Sub-Advisor’s portfolio management systems are ineffective, we may be exposed to material unanticipated losses.
  • Our distribution policy is subject to change, and we may not pay distributions in the future.
  • Our ability to pay distributions is limited by the requirements of Maryland law.
  • Stockholders have limited control over changes in our policies and operations, which increases the uncertainty and risks they face as a stockholder.
  • If we fail to maintain an effective system of internal control over financial reporting and disclosure controls, we may not be able to accurately and timely report our financial results
  • Our UPREIT structure may result in potential conflicts of interest with limited partners in the Operating Partnership whose interests may not be aligned with those of our stockholders.
  • We have issued Series A Preferred Stock that subordinates certain rights of the holders of our common stock, and our charter permits our Board to issue additional stock with terms that may subordinate the rights of our common stockholders or discourage a third party from acquiring us in a manner that could result in a premium price to stockholders.
  • Payment of fees to the Advisor and its affiliates reduces cash available for investment and distribution and increases the risk that stockholders will not be able to recover the amount of their investment in our shares.
  • Our rights and the rights of our stockholders to recover claims against our independent directors are limited, which could reduce their and our recovery against them if they negligently cause us to incur losses.
  • Risks Related to Conflicts of Interest
  • The Sub-Advisor may face a conflict of interest with respect to the allocation of investment opportunities and competition for borrowers between us and other real estate programs affiliated with Sound Point.
  • The Advisor faces a conflict of interest because the management fee and performance fee are based on the value of our investment portfolio as determined in connection with our determination of NAV, which is calculated by the Advisor.
  • Our executive officers, our affiliated directors and the key real estate professionals acting on behalf of the Advisor and the Sub-Advisor face conflicts of interest related to their positions or interests in affiliates of Inland and Sound Point, which could hinder our ability to implement our business strategy and to generate returns to our stockholders.
  • Risks Related to Regulatory Matters

Legal proceedings

In the ordinary course of business, we may become subject to litigation, claims and regulatory matters. We have no knowledge of material legal or regulatory proceedings pending or known to be contemplated against us at this time.

The opening of Item 3, Legal Proceedings.6

Sources

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