Lument Finance Trust Closes $664 Million CRE CLO with Institutional Investors.

Lument Finance Trust has closed a $664 million commercial real estate collateralized loan obligation (CRE CLO). The company placed approximately $585 million of investment-grade securities with institutional investors, providing LFT with term financing on a non-mark-to-market, non-recourse basis. The CRE CLO includes a 30-month reinvestment period, an advance rate of 88.1%, and a weighted average interest rate at issuance of Term SOFR plus 1.91%, before transaction costs.