# EDGAR Filing Document

**Accession Number:** 0001717547
**File Stem:** 0000898432-26-000238
**Filing Date:** 2026-4
**Character Count:** 18228
**Document Hash:** 45e5f175e518214f5eba1853341b730b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000898432-26-000238.hdr.sgml**: 20260407

**ACCESSION NUMBER**: 0000898432-26-000238

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260407

**DATE AS OF CHANGE**: 20260407

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BrightSpire Capital, Inc.
- **CENTRAL INDEX KEY:** 0001717547
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 384046290
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-90740
- **FILM NUMBER:** 26844768

**BUSINESS ADDRESS:**
- **STREET 1:** 590 MADISON AVENUE
- **STREET 2:** 33RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 212-547-2631

**MAIL ADDRESS:**
- **STREET 1:** 590 MADISON AVENUE
- **STREET 2:** 33RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Colony Credit Real Estate, Inc.
- **DATE OF NAME CHANGE:** 20180621

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Colony NorthStar Credit Real Estate, Inc.
- **DATE OF NAME CHANGE:** 20170920
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CWRE SSF Securities Holding, LP
- **CENTRAL INDEX KEY:** 0002122039

**ORGANIZATION NAME:**
- **EIN:** 392899223
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G

**BUSINESS ADDRESS:**
- **STREET 1:** 333 S HOPE ST
- **STREET 2:** STE 2500
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071
- **BUSINESS PHONE:** 626-788-2305

**MAIL ADDRESS:**
- **STREET 1:** 333 S HOPE ST
- **STREET 2:** STE 2500
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071

## Exhibit 99.1

**EXHIBIT 1**<br>

**** 

<br> **** 

#### AGREEMENT REGARDING THE JOINT FILING OF SCHEDULE 13G

The undersigned hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Each of them is individually eligible to use Schedule 13G, and the Schedule 13G to which this Exhibit is attached is filed on behalf of each of them; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Each of them is responsible for the timely filing of such Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate.

---

| | |
|:---|:---|
| **CWRE SSF Securities Holding, LP** | **CWRE SSF Securities Holding, LP** |
| Signature: <br>| /s/ Hon Kit Shing |
| Name/Title: | Hon Kit Shing, Authorized Signatory |
| Date: | April 7, 2026 <br>|

---

---

| | |
|:---|:---|
| **CWRE Special Situations Fund GP, LLC** | **CWRE Special Situations Fund GP, LLC** |
| Signature: <br>| /s/ Hon Kit Shing |
| Name/Title: | Hon Kit Shing, Director<br>|
| Date: | April 7, 2026 <br>|

---

---

| | |
|:---|:---|
| **CW Investment Advisers, LLC** | **CW Investment Advisers, LLC** |
| Signature: <br>| /s/ Hon Kit Shing |
| Name/Title: | Hon Kit Shing, Manager<br>|
| Date: | April 7, 2026 <br>|

---

---

| | |
|:---|:---|
| **Hon Kit Shing** | **Hon Kit Shing** |
| Signature: <br>| /s/ Hon Kit Shing |
| Date: | April 7, 2026 <br>|

---

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

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**Issuer:** BrightSpire Capital, Inc.

**Title of Class of Securities:** Class A Common Stock, par value $0.01 per share

**CUSIP Number:** —

**Date of Event Which Requires Filing of this Statement:** 03/31/2026

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>CWRE SSF Securities Holding, LP | Names of Reporting Persons<br>CWRE SSF Securities Holding, LP |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>6531229 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>6531229 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6531229 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6531229 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5% | Percent of Class Represented by Amount in Row (9)<br>5% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** Percent of class is based on 130,278,065 shares of Class A common stock issued and outstanding as of March 23, 2026, as reported by BrightSpire Capital, Inc. in its definitive proxy statement filed with the Securities and Exchange Commission on April 1, 2026.

---

| 1. | Names of Reporting Persons<br>CWRE Special Situations Fund GP, LLC | Names of Reporting Persons<br>CWRE Special Situations Fund GP, LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>6531229 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>6531229 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6531229 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6531229 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5% | Percent of Class Represented by Amount in Row (9)<br>5% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** Percent of class is based on 130,278,065 shares of Class A common stock issued and outstanding as of March 23, 2026, as reported by BrightSpire Capital, Inc. in its definitive proxy statement filed with the Securities and Exchange Commission on April 1, 2026.

---

| 1. | Names of Reporting Persons<br>CW Investment Advisers, LLC | Names of Reporting Persons<br>CW Investment Advisers, LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>6531229 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>6531229 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6531229 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6531229 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5% | Percent of Class Represented by Amount in Row (9)<br>5% |
| 12. | Type of Reporting Person (See Instructions)<br>IA | Type of Reporting Person (See Instructions)<br>IA |

**Comment for Type of Reporting Person:** Percent of class is based on 130,278,065 shares of Class A common stock issued and outstanding as of March 23, 2026, as reported by BrightSpire Capital, Inc. in its definitive proxy statement filed with the Securities and Exchange Commission on April 1, 2026.

---

| 1. | Names of Reporting Persons<br>Hon Kit Shing | Names of Reporting Persons<br>Hon Kit Shing |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>Q2 | Citizenship or Place of Organization<br>Q2 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>6531229 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>6531229 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6531229 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6531229 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5% | Percent of Class Represented by Amount in Row (9)<br>5% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** Percent of class is based on 130,278,065 shares of Class A common stock issued and outstanding as of March 23, 2026, as reported by BrightSpire Capital, Inc. in its definitive proxy statement filed with the Securities and Exchange Commission on April 1, 2026.

---

**Item 1(a). Name of Issuer:**
BrightSpire Capital, Inc.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
590 MADISON AVENUE, 33RD FLOOR, NEW YORK, New York, 10022

**Item 2(a). Name of Person Filing:**
CWRE SSF Securities Holding, LP
CWRE Special Situations Fund GP, LLC
CW Investment Advisers, LLC
Hon Kit Shing

**Item 2(b). Address of Principal Business Office:**
333 South Hope Street, Suite 2500, Los Angeles CA 90071

**Item 2(c). Citizenship:**
CWRE SSF Securities Holding, LP is a Delaware limited partnership;
CWRE Special Situations Fund GP, LLC is a Delaware limited liability company; 
CW Investment Advisers, LLC is a Delaware limited liability company; and
Hon Kit Shing is a New Zealand citizen.

**Item 2(d). Title of Class of Securities:**
Class A Common Stock, par value $0.01 per share

**Item 2(e). CUSIP Number:**
—

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.
CWRE Special Situations Fund GP, LLC ("Fund GP") is the general partner of CWRE SSF Securities Holding, LP ("Securities Holding"). In such capacity, Fund GP may be deemed to be the beneficial owner of the Common Stock owned directly by Securities Holding.
CW Investment Advisers, LLC ("Investment Advisers") acts as investment manager to Securities Holding pursuant to an investment management agreement. Under such agreement, Investment Advisers has discretionary investment authority and voting power with respect to the shares of Common Stock directly held by Securities Holding. As such, Investment Advisers could be deemed to beneficially own the shares of Common Stock owned directly by Securities Holding.
Mr. Shing is the sole director of Fund GP and the manager of Investment Advisers and, as such, could be deemed to beneficially own the shares of Common Stock owned directly by Securities Holding.
The filing of this Schedule 13G shall not be construed as an admission that any of Fund GP, Investment Advisers or Mr. Shing is, for purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, the beneficial owner of any securities covered by this Schedule 13G.

**(b) Percent of class:**

The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.

**(ii) Shared power to vote or to direct the vote:**

The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.

**(iii) Sole power to dispose or to direct the disposition of:**

The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.

**(iv) Shared power to dispose or to direct the disposition of:**

The information required by Items 4(a) - (c) set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**CWRE SSF Securities Holding, LP**

**Date:** 04/07/2026

**By:** /s/ Hon Kit Shing

**Name & Title:** Hon Kit Shing, Authorized Signatory

**CWRE Special Situations Fund GP, LLC**

**Date:** 04/07/2026

**By:** /s/ Hon Kit Shing

**Name & Title:** Hon Kit Shing, Director

**CW Investment Advisers, LLC**

**Date:** 04/07/2026

**By:** /s/ Hon Kit Shing

**Name & Title:** Hon Kit Shing, Manager

**Hon Kit Shing**

**Date:** 04/07/2026

**By:** /s/ Hon Kit Shing

**Name & Title:** Hon Kit Shing