Claros Mortgage Trust, Inc. reported a GAAP net loss of $100.7 million, or $0.72 per share, for the fourth quarter of 2024. For the full year 2024, the GAAP net loss was $221.3 million, or $1.60 per share. The company's Distributable Loss was $83.2 million, or $0.59 per share, for Q4 2024, and $95.7 million, or $0.67 per share, for the full year.
Distributable Earnings prior to realized gains and losses were $25.4 million, or $0.18 per share, for Q4 2024, and $114.6 million, or $0.81 per share, for the full year. The book value per share was $14.12 at December 31, 2024. The provision for CECL reserves was $30.0 million for Q4 2024, contributing to a full-year total of $212.620 million. Principal charge-offs for Q4 2024 were $756 thousand.
Loans with a risk rating of 4 or higher increased to 45% of the loan portfolio as of December 31, 2024, up from 37% at September 30, 2024. Total available liquidity stood at $102 million at year-end 2024, with net unfunded loan commitments of $199 million. CEO Richard Mack emphasized accelerating the resolution of watchlist loans to redeploy capital.
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