# EDGAR Filing Document

**Accession Number:** 0001690012
**File Stem:** 0000950170-25-095297
**Filing Date:** 2025-7
**Character Count:** 10671
**Document Hash:** c13e767613b7d3d199717ef9c94b5cf4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-25-095297.hdr.sgml**: 20250711

**ACCESSION NUMBER**: 0000950170-25-095297

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250711

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250711

**DATE AS OF CHANGE**: 20250711

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** InPoint Commercial Real Estate Income, Inc.
- **CENTRAL INDEX KEY:** 0001690012
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 320506267
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40833
- **FILM NUMBER:** 251119187

**BUSINESS ADDRESS:**
- **STREET 1:** 2901 BUTTERFIELD ROAD
- **CITY:** OAK BROOK
- **STATE:** IL
- **ZIP:** 60523
- **BUSINESS PHONE:** 630-218-8000

**MAIL ADDRESS:**
- **STREET 1:** 2901 BUTTERFIELD ROAD
- **CITY:** OAK BROOK
- **STATE:** IL
- **ZIP:** 60523

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

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## **FORM** 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** July 11, 2025<br>

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InPoint Commercial Real Estate Income, Inc.

**(Exact name of Registrant as Specified in Its Charter)**

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| | | |
|:---|:---|:---|
| Maryland | 001-40833 | 32-0506267 |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 2901 Butterfield Road |  |  |
| Oak Brook**,** Illinois |  | 60523 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

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**Registrant's Telephone Number, Including Area Code:** (800) 826-8228<br>

N/A<br>

**(Former Name or Former Address, if Changed Since Last Report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| 6.75% Series A Cumulative Redeemable Preferred Stock, par value $0.001 per share | ICR PR A | New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

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**Item 7.01 Regulation FD Disclosure.**

InPoint Commercial Real Estate Income, Inc. (the "Company") prepared a letter to its stockholders regarding the Company's portfolio. A copy of the letter to stockholders is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information in this Item 7.01 disclosure, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section. In addition, the information in this Item 7.01 disclosure, including Exhibit 99.1, shall not be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

**Item 9.01 Financial Statements and Exhibits.**

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| | |
|:---|:---|
| (d) Exhibits. | (d) Exhibits. |
| **<u>Exhibit No.</u>** | **<u>Description</u>** |
| 99.1 | [<u>Form of Letter to Stockholders</u>](ck0001690012-ex99_1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  |  |  | **INPOINT COMMERCIAL REAL ESTATE INCOME, INC.** |
| Date: | July 11, 2025 | By:  | /s/ Catherine L. Lynch |
|  |  |  | Catherine L. Lynch<br>*Chief Financial Officer* |

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## Exhibit 99.1

**Exhibit 99.1**

![img139739192_0.jpg](img139739192_0.jpg)

July 11, 2025

Dear InPoint Stockholder:

We are pleased to provide an update on InPoint Commercial Real Estate Income, Inc. ("InPoint" or the "Company"). As part of our ongoing commitment to deliver attractive current income, InPoint has declared a distribution of $0.1042 per share for stockholders of record as of June 30, 2025. This distribution, payable on or about July 17, 2025, represents an annualized yield of 7.81%<sup>1</sup>.

# **Economic Update** 
Economic conditions remain dynamic. The phrase "higher for longer" is even more applicable to interest rates today than it was at the end of 2024. The market lost some momentum following the April 2 "Liberation Day" tariff announcement, and the Federal Reserve appears to be in a wait-and- see posture as it evaluates the broader impact of the tariff scenario. Market volatility has become the new normal in 2025, presenting headwinds across certain areas of commercial real estate (CRE).

While Green Street's Commercial Property Price Index reports that property values have risen more than 4% over the past twelve months, values remain down more than 17% from the 2022 peak<sup>2</sup>. However, overall CRE market conditions have shown signs of improvement. We do not anticipate significant decreases in overall valuations in the coming quarters, but we also do not expect market conditions to worsen in the near term. This stabilization of property values is expected to create a more predictable underwriting environment for lenders.

CRE transaction volume in the first quarter of 2025 was up approximately 12% compared to the first quarter of 2024, although the current levels are still 4% below the average for the last ten years<sup>3</sup>. Nonetheless, as market activity levels begin to recover, current borrowers looking to sell their properties may see enhanced disposition opportunities, and borrowers approaching loan maturity may benefit from greater pricing visibility to support refinancing efforts.

# **Portfolio Overview** 
As of March 31, 2025, InPoint's portfolio consisted of 25 loans with an aggregate outstanding principal balance of approximately $563 million. Our portfolio is diversified across both property type and geographic region. Multifamily loans accounted for 67% of the portfolio, office loans comprised 20%, and industrial loans made up 6%. Regionally, 35% of the portfolio was located in the Southeast, another 35% in the Southwest, 13% in the West, and 10% in the Mid-Atlantic.

In addition to our loan investments, we held three real estate owned assets with a total fair market value of $44 million: two office properties in Dallas, TX, and one multifamily property in Portland, OR. On May 1, 2025, we also foreclosed on a multifamily property in Kansas City, MO, which had previously served as collateral for a $39.5 million senior mortgage loan. Our near-term focus is on enhancing the operating performance of these owned assets in preparation for sale when we determine market conditions are most favorable.

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1 Based on the Class P net asset value of $16.00 per share as of May 31, 2025. See disclosures below.

2 Green Street Commercial Property Price Index, June 5, 2025

3 Green Street Debt Insights, June 16, 2025

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# **Positioning for Strategic Opportunities** 
As we look to the future, we are positioning the InPoint portfolio in order to attempt to pursue a strategic transaction once capital market conditions become more favorable. Importantly, we are monitoring for signs of lower interest rates, improved access to both debt and equity capital, and a more meaningful increase in CRE transaction volume, among other factors. These factors are crucial in creating an environment where asset valuations are more stable and potential buyers or partners can underwrite risk with greater confidence. Our goal is to maximize stockholder value and potentially provide access to some liquidity.

At the asset level, we continue to work with borrowers to ensure they remain committed to their properties, often through additional escrowed capital for tenant improvements, leasing commissions, and interest rate protections. In parallel, we are taking a prudent and strategic approach to loan modifications and extensions, striking a balance between risk management and our long-term objective of stable income.

We remain committed to transparency and disciplined portfolio management. If you have any questions about this update or your investment in InPoint, please contact your financial professional or Inland Investor Services at 866-MY-INLAND (866-694-6526).

Sincerely,

InPoint Commercial Real Estate Income, Inc.

![img139739192_1.jpg](img139739192_1.jpg)

Denise Kramer, CFA

Chief Executive Officer

***<u>Cautionary Note Regarding Forward-Looking Statements and Distributions</u>***

*InPoint cannot guarantee that it will make distributions. The distributions received by holders of Class D, Class S and Class T common stock will be less than the gross distribution amounts received by holders of Class I and Class P shares of common stock because the amount of the distributions received by Class D, Class S and Class T holders are net of stockholder servicing fees applicable to these classes, respectively, and the annualized rate for these classes will be lower than for the other classes accordingly. Please see our website for the annualized distribution rate for each class of our common stock.*

InPoint \| Page 2

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