fs credit real estate income trust-T
Seeks to deliver an alternative source of income by investing in private commercial real estate debt
Past performance is not a guarantee of future results. View standardized performance.
- The above share class information represents the transaction price for each share class of our common stock for subscriptions accepted as of August 1, 2025 (and repurchases as of June 30, 2025). The transaction price presented is rounded to two decimal places.
The per share purchase (or repurchase) price is equal to the transaction price plus, for purchases of Class T shares, selling commissions of up to 3.00% and dealer manager fees of up to 0.50% of the transaction price, and, for purchases of Class S shares, selling commissions of up to 3.50% of the transaction price. Stockholders will not pay selling commissions or dealer manager fees on Class D, Class M or Class I shares. Class T, Class S, Class D and Class M shares are also subject to ongoing stockholder servicing fees equal to 0.85%, 0.85%, 0.30% and 0.30% per annum of the aggregate NAV of such share class, respectively. Class I shares are not subject to stockholder servicing fees. See the prospectus for additional information. - Reflects the current month’s distribution annualized and divided by the prior month’s net asset value, which is inclusive of all fees and expenses. For the 12 months ended December 31, 2024, 100% of FS Credit REIT’s distributions were funded through net income.
Income
Preservation
Diversification
returns1
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Performance quoted is past performance and cannot guarantee future results. Current performance may be higher or lower. Certain performance figures above do not include applicable sales charges, which would have reduced the performance. Returns less than one year are cumulative; all others are annualized. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost.
- Returns (shown with and without sales charge) represent the total returns an investor received for the highlighted period taking into account all distributions paid during such period. Returns (with sales charge) are net of all FS Credit REIT expenses, including general and administrative expenses, transaction-related expenses, management fees, performance fees, and share class-specific fees. The calculation is net of any ongoing stockholder servicing fees and assumes that the investor purchased shares at NAV or the transaction price (which generally equals the prior month’s NAV), as applicable, at the beginning of the applicable period and reinvested all cash distributions pursuant to FS Credit REIT’s distribution reinvestment plan (“DRP”). Valuation as of the end of each period is the transaction price pursuant to FS Credit REIT’s share repurchase program on such date. Returns (without sales charge) do not include selling commissions and dealer manager fees, which could total up to 3.50% of the transaction price of Class S and Class T shares. Had such selling commissions and dealer manager fees been included, performance would be lower. Returns (with sales charge) assume payment of the maximum upfront sales charge of 3.50% at the beginning of the applicable period.
Hypothetical Growth oF $100,000
The chart reflects a hypothetical investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.
Past performance is not indicative of future results. An investment in FS Credit REIT is not a direct investment in real estate and has material differences from a direct investment in real estate, including those related to fees and expenses, liquidity and tax treatment.
FS Credit REIT is not traded on an exchange. The beginning value of Class T is the NAV per share as of the share class’s inception date on April 16, 2018. The ending value is the transaction price as of August 1, 2025 (which generally equals the prior month’s NAV). The illustration assumes reinvestment of distributions pursuant to FS Credit REIT’s share repurchase program. Indexes are shown for illustrative purposes only. Each asset class is suitable for specific investor objectives, which vary greatly.
Commercial real estate debt team
investment type
Property types5
geography6
portfolio characteristics1,2,3,4
top 5 states
- 87 months with positive total returns since inception out of 89 months (based on Class I).
- Duration is a measure of how sensitive a fixed income investment’s price is to a change in interest rates and is expressed as a number of years.
- Largest monthly drawdown for Class I and Class S occurred March 2020.
- Total assets are comprised of the sum of loans receivable, investment in real estate, mortgage-backed securities held-to-maturity, mortgage-backed securities (at fair value), cash and cash equivalents, restricted cash, receivables for investments sold, repaid interest receivables and other assets.
- Represents holdings with multiple property types.
- Represents holdings across multiple geographic regions.
OBJECTIVE
CUSIP
STRUCTURE
SHARE CLASS INCEPTION DATE
NAV1
ADVISER
SUB-ADVISER
MIN. INITIAL INVESTMENT2
DISTRIBUTIONS3
SHARE REPURCHASE PROGRAM4
TAX REPORTING
UPCOMING REDEMPTION
- NAV is determined as of the last calendar day of each month by FS Real Estate Advisor in accordance with FS Credit REIT’s valuation guidelines as determined by FS Credit REIT’s board of directors. NAV is a non-GAAP financial measure and there is no rule, regulation or industry practice that requires that NAV be calculated in a certain way. The closest GAAP financial measure to NAV is stockholders’ equity. As of June 30, 2025, the reconciliation of stockholders’ equity to NAV (in thousands) was: stockholders’ equity under GAAP of $2,839,606 adjusted for accrued stockholder servicing fees of $92,300 results in NAV of $2,931,906 and the stockholders' equity per share was $24.57.
- FS Credit REIT may waive these minimum investment amounts in its sole and absolute discretion.
- The payment of distributions on FS Credit REIT’s common stock is subject to the discretion of the fund’s board of directors and applicable legal restrictions and, therefore, there can be no assurance as to the amount or timing of any such distributions.
- FS Credit REIT’s share repurchase plan is subject to a 2% monthly and 5% quarterly cap of the combined NAV of all share classes then participating and other limitations and conditions as set forth in FS Credit REIT’s prospectus.
FUND MATERIALS
Loan-to-value ratio (LTV) of a mortgage equals the loan amount divided by the property’s value. Modified duration is a measure of how sensitive a fixed income investment’s price is to a change in interest rates, expressed as a number of years.
Investing in FS Credit REIT involves significant risk, including the risk of a substantial loss of investment. The following are some of the risks an investment in FS Credit REIT’s common stock involves; however, you should carefully consider all of the information found in the section of FS Credit REIT’s prospectus entitled “Risk Factors” before deciding to invest in shares of FS Credit REIT’s common stock.
- Since there is no public trading market for shares of FS Credit REIT’s common stock, repurchase of shares by FS Credit REIT will likely be the only way to dispose of your shares. FS Credit REIT’s share repurchase plan will provide stockholders with the opportunity to request that FS Credit REIT repurchase their shares on a monthly basis, subject to certain limitation. Further, FS Credit REIT’s board of directors may modify or suspend our share repurchase plan if it deems such action to be in our best interest and the best interest of stockholders. Finally, FS Credit REIT is not obligated by its charter or otherwise to effect a liquidity event at any time. As a result, shares should be considered as having only limited liquidity and at times may be illiquid.
- The purchase and repurchase price for shares of FS Credit REIT’s common stock will be based on NAV and will not be based on any public trading market. Because the valuation of FS Credit REIT’s investments is inherently subjective, the NAV of FS Credit REIT’s common stock may not accurately reflect the actual price at which assets could be liquidated on any given day.
- Valuations and appraisals of real estate-related debt and investments are estimates of fair value and may not necessarily correspond to realizable value, which could adversely affect the value of an investment.
- FS Credit REIT’s business and operations are currently dependent on the commercial real estate industry. Adverse conditions in the commercial real estate industry can have a significant negative effect on FS Credit REIT’s business and financial condition.
- FS Credit REIT cannot guarantee that it will make distributions, and if it does such distributions may be funded from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, return of capital or offering proceeds, and there are no limits on the amounts that may be paid from such sources.
- FS Credit REIT has no employees and is dependent on its adviser and sub-adviser to conduct operations. FS Credit REIT’s adviser and sub-adviser will face conflicts of interest as a result of, among other things, the obligation to allocate investment opportunities among FS Credit REIT and other investment vehicles, the allocation of time of their investment professionals and the substantial fees and expenses that we will pay to the adviser and its affiliates.
- There are limits on the ownership and transferability of FS Credit REIT’s shares.
- FS Credit REIT’s failure to qualify or remain qualified to be taxed as a REIT would adversely affect the NAV of its shares and the amount of cash available for distribution to stockholders.