Sunrise Realty grows portfolio 28% to $299M; forecloses San Antonio hotel, adds $48M B-note

Filed May 14, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 7, 2025 · ~2 min read

Key Changes

• high

  Foreclosed on $40.6M San Antonio hotel loan in February 2026, forming joint venture with 65% ownership stake. Loan derecognized from balance sheet as company now operates the property rather than holding performing debt.

  MD&A: San Antonio Loan Foreclosure verify on EDGAR →
• high

  Originated $48.3M commitment in subordinate B-note secured by 15-hotel portfolio at SOFR+8.25%. Largest single investment of the quarter increases hospitality exposure and introduces subordinate debt risk profile.

  MD&A: Hotel Portfolio B-Note verify on EDGAR →
• high

  Net income rose 37% year-over-year to $4.3M ($0.32/share) driven by 28% portfolio growth and $1.2M prepayment premium from $45M Dallas loan repayment. Interest expense up $2.6M as leverage increased to $139M.

  MD&A: Financial Results verify on EDGAR →