Claros Mortgage Trust Inc.
02/18/2026 | Press release | Distributed by Public on 02/18/2026 16:18
Claros Mortgage Trust, Inc. Reports Fourth Quarter and Full Year 2025 Results (Form 8-K)
Claros Mortgage Trust, Inc.
Reports Fourth Quarter and Full Year 2025 Results
New York, NY, February 18, 2026 - Claros Mortgage Trust, Inc. (NYSE: CMTG) (the "Company" or "CMTG") today reported its financial results for the quarter and year ended December 31, 2025. The Company reported GAAP net loss of $219.2 million and $489.1 million, or $1.56 per share and $3.49 per share, for the quarter and year ended December 31, 2025, respectively. Distributable Loss (a non-GAAP financial measure defined below) was $101.7 million and $269.0 million, or $0.71 per share and $1.88 per share, for the quarter and year ended December 31, 2025, respectively. Distributable Earnings prior to realized gains and losses was $2.9 million and $35.2 million, or $0.02 per share and $0.24 per share, for the quarter and year ended December 31, 2025, respectively.
Fourth Quarter 2025 Highlights
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Resolved five loans totaling $483.9 million of UPB.
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Two full repayments: $216.2 million of UPB.
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One discounted payoff: $150.0 million of UPB - watchlist loan.
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One loan sale: $30.0 million of UPB, previously classified as held-for-sale.
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One UCC foreclosure: $87.7 million of UPB - watchlist loan collateralized by land parcel in New York, NY.
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Executed sales of signage and remaining office floors at our mixed-use REO for an aggregate gross sales price of $24.1 million.
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Provision for CECL reserves of $211.7 million, or $1.48 per share, for the quarter; as of year-end, CECL reserves of $443.1 million on loans receivable, or $3.09 per share.
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Approximates 10.9% of UPB at year-end, comprised of (i) specific reserves of 26.0% of UPB of risk rated 5 loans and (ii) general reserves of 2.9% of UPB of remaining loans.
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REO assets generated distributable earnings prior to realized gains and losses of $0.03 per share for the quarter, net of financing costs.
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At December 31, 2025:
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$3.7 billion loan portfolio with a weighted average all-in yield of 6.2%. (1)
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Total liquidity of $185 million, including $173 million of cash.
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Unencumbered assets of $541 million, consisting of $366 million of loan UPB and $175 million of REO carrying value.
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Net unfunded loan commitments decreased to $12 million.
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Net financings outstanding decreased by $500 million, including $305 million of deleveraging payments.
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Net debt / equity ratio of 1.9x.
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Book value of $10.69 per share.
Full Year 2025 Highlights
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Resolved 21 loans totaling $2.5 billion of UPB and received $93.8 million in partial loan repayments.
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Resolved 11 watchlist loans totaling $1.3 billion of UPB.
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Net financings outstanding decreased by $1.7 billion, including $580 million of deleveraging payments.
Subsequent Events
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Resolved four loans totaling $388.7 million of UPB.
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Two full repayments: $240.8 million of UPB - includes one watchlist loan.
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One mortgage foreclosure: $76.6 million of UPB - watchlist loan collateralized by multifamily property in Dallas MSA.
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One assignment to lender: $71.3 million of UPB - watchlist loan.
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Watchlist loans of $1.5 billion (13 loans), representing a 45% net decline from prior year-end.
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Closed a new $500.0 million secured term loan maturing in 2030; proceeds used to fully retire prior secured term loan.
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Net financings outstanding decreased by $300 million, including $90 million of deleveraging payments.
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At February 17, 2026, total liquidity of $153 million, including $132 million of cash.
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Improved total liquidity by $51 million since year-end 2024.
"Throughout 2025, our team remained focused on executing the strategic priorities we established at the beginning of the year," said Richard Mack, Chief Executive Officer and Chairman of CMTG. "These efforts resulted in $2.5 billion in loan resolutions, increased liquidity, and continued deleveraging, which further strengthened our balance sheet. As we enter 2026, we believe this momentum will position us well to advance our strategy and continue repositioning the portfolio."
(1) Represents the weighted average annualized yield to initial maturity of each loan held-for-investment, inclusive of coupon and contractual fees, based on the applicable floating benchmark rate/floors (if applicable), in place as of December 31, 2025. For loans placed on non-accrual, the annualized yield to initial maturity used in calculating the weighted average annualized yield to initial maturity is 0%.
Teleconference Details
A conference call to discuss CMTG's financial results will be held on Thursday, February 19, 2026, at 10:00 a.m. ET. The conference call may be accessed by dialing 1-833-470-1428 and referencing the Claros Mortgage Trust, Inc. teleconference call; access code 121374.
The conference call will also be broadcast live over the internet and may be accessed through the Investor Relations section of CMTG's website at www.clarosmortgage.com. An earnings presentation accompanying the earnings release and containing supplemental information about the Company's financial results may also be accessed through this website in advance of the call.
For those unable to listen to the live broadcast, a webcast replay will be available on CMTG's website or by dialing 1-866-813-9403, access code 539240, beginning approximately two hours after the event.
About Claros Mortgage Trust, Inc.
CMTG is a real estate investment trust that is focused primarily on originating senior and subordinate loans on transitional commercial real estate assets located in major markets across the U.S. CMTG is externally managed and advised by Claros REIT Management LP, an affiliate of Mack Real Estate Credit Strategies, L.P. Additional information can be found on the Company's website at www.clarosmortgage.com.
Claros Mortgage Trust Inc. published this content on February 18, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on February 18, 2026 at 22:18 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]