Claros Mortgage Trust, Inc. (NYSE:CMTG) Q4 2022 Earnings Call Transcript

Kevin Cullinan : Sure. It’s Kevin calling in. I’ll take that. So yes, I think you’ve seen quarter over quarter throughout the course of the year origination or transaction volume slow down. And we do expect that to be the case for the first quarter or even go so far as to say the first half of the year. But as we look at the overall portfolio size, given the future fundings that we expect to fund over the course of the coming quarters, that we do expect net portfolio growth as we sort of weight that against projective repayments over that period of time. But probably a little bit more muted on the origination side until the capital markets are in the healthier position.

Chris Muller: And then on the other side of that, with the repayments and that repayment schedule is helpful. So there’s not a lot of loans maturing in 2023. Is it fair to assume repayments will be on the low end for most of the year?

Priyanka Garg: It’s Priyanka, I’ll take that question. Yes, that is our expectation. We’re assuming very few repayments throughout the year, and we have very few final maturities during 2023. So most of those borrowers have as of right extensions that we’re that have actually already been executed or we anticipate will be executed.

Operator: Ladies and gentlemen, this concludes our question-and-answer session. I would like to turn the conference back over to Richard Mack for any closing remarks.

Richard Mack : I just want to say thanks for everyone for joining again, and finish by maybe making the obvious statement that this team is laser focused on execution and asset management every day. And we think that over time our credit underwriting, our asset management, and our execution through these difficult times will differentiate us. And we appreciate everyone’s time again, and thank you, and we look forward to speaking to everyone on the next quarterly our earnings call.

Operator: Ladies and gentlemen, this concludes today’s call. Thank you for joining. You may now disconnect your lines.