Private company

Goldman Sachs Real Estate Finance Trust Inc

Goldman Sachs Real Estate Finance Trust Inc is an American real estate investment trust based in New York, active since 2024.2

Last updated Oct 20, 2026.

Overview

$23.0MNet income, fiscal 20253
  • IndustryReal Estate Investment Trusts2
  • HeadquartersLutherville Timonium, United States2
  • Incorporated inMD4
  • Business address200 West Street, New York, Ny 102824
  • Filer category, Emerging growth company4
  • Legal formCorporation2
  • Kind of organizationReal estate investment trust2
  • LEI9845001B0C4F0G99E7382
  • StatusActive2
  • LEI statusIssued and current2
  • Registered address2405 York Road, Suite 201, 21093 Lutherville Timonium, United States2
  • Registered withBusiness Services (Maryland Department of Assessments and Taxation), D248532692

See how the biggest companies compare on our leaderboards

Goldman Sachs Real Estate Finance Trust Inc, a Maryland corporation, was formed on March 8, 2024, to originate, acquire and manage a portfolio of commercial real estate loans secured by high-quality assets located in North America (primarily in the United States). References herein to “we,” “us,” “our,” “GS REFT,” the “REIT,” “our Company” and the “Company” refer to Goldman Sachs Real Estate Finance Trust Inc, together with its consolidated subsidiaries, unless the context requires otherwise. Our investment objective is to generate current income and attractive risk-adjusted returns by originating senior secured, floating-rate loans, and, to a lesser extent, B Notes and mezzanine loans (collectively, “junior loans”), collateralized by real property or ownership interests in real property (collectively, “Credit Investments”). We are externally managed by Goldman Sachs Asset Management, L.…6 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

6.0%Return on equity3
2.51×Debt to equity3

Financial statements

Fiscal year20242025
Operating expenses$8.9M3
Net income$23.0M3
Earnings per share$2.013
Earnings per share (diluted)$2.013
Shares (weighted, basic)11.5M shares3
Shares (weighted, diluted)11.5M shares3

Compare Goldman Sachs Real Estate Finance Trust Inc with another company

Corporate structure

Goldman Sachs Real Estate Finance Trust Inc sits at the top of its group. 12 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Goldman Sachs Real Estate Finance Trust Inc

  • KREI West St. Investments, LLC Filed SCHEDULE 13D/A on Goldman Sachs Real Estate Finance Trust Inc, latest Mar 4, 2025 (3 filings since Jan 14, 2025)
  • Goldman Sachs Real Estate Finance Trust Inc Lutherville Timonium, Maryland, United States
    • GS REFT FI TRS LTD Subsidiary · Cayman Islands
    • GS REFT Investments Holdings LLC Subsidiary · Delaware, United States
    • GS REFT Investments LP Subsidiary · Delaware, United States
    • GS REFT Loan Holdings LLC Subsidiary · Delaware, United States
    • GS REFT TRS LLC Subsidiary · Delaware, United States
    • REFT Charles Street LLC Subsidiary · Delaware, United States
    • REFT Mulberry Street LLC Subsidiary · Delaware, United States
    • REFT Park Street LLC Subsidiary · Delaware, United States
    • REFT Pledgor LLC Subsidiary · Delaware, United States
    • REFT Spruce Street LLC Subsidiary · Delaware, United States
    • REFT Water Street LLC Subsidiary · Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Goldman Sachs Real Estate Finance Trust Inc reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$72.2M3 Dec 31, 2025$8.0K3 Dec 31, 2024+902012.5%

Properties, in its own words

Our principal executive and administrative offices are located in leased space at 200 West Street New York, New York 10282. As part of our Advisory Agreement, our Adviser is responsible for providing office space and office services required in rendering services to us. We consider these facilities to be suitable and adequate for the management and operations of our business.

Item 2 of the 10-K filed Feb 25, 2026.6

Leadership

Who has led Goldman Sachs Real Estate Finance Trust Inc, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (10)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorGwendolyn Hatten Butler named Jan 28, 202621
  • DirectorSimon M. Turner named Jan 28, 202621

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • GS REFT FI TRS LTD Cayman Islands5
  • GS REFT Investments Holdings LLC Delaware5
  • GS REFT Investments LP Delaware5
  • GS REFT Loan Holdings LLC Delaware5
  • GS REFT TRS LLC Delaware5
  • REFT Charles Street LLC Delaware5
  • REFT Mulberry Street LLC Delaware5
  • REFT Park Street LLC Delaware5
  • REFT Pledgor LLC Delaware5
  • REFT Spruce Street LLC Delaware5
  • REFT Water Street LLC Delaware5

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Oct 7, 20268-K Unregistered sale of shares; Other events22
  2. Oct 1, 20268-K New debt or obligation; Shareholder vote23
  3. Sep 8, 20268-K Unregistered sale of shares; Other events24
  4. Aug 7, 20268-K Unregistered sale of shares; Other events25
  5. Jul 8, 20268-K Unregistered sale of shares; Other events26
  6. Jun 5, 20268-K Entered a material agreement; Unregistered sale of shares; Other events27
  7. May 7, 20268-K Unregistered sale of shares; Other events28
  8. Apr 7, 20268-K Unregistered sale of shares; Other events29
  9. Apr 6, 20268-K Entered a material agreement; New debt or obligation30
  10. Mar 24, 20268-K Other events31
  11. Mar 19, 20268-K New debt or obligation32
  12. Mar 6, 20268-K Unregistered sale of shares; Other events33
  13. Mar 8, 2024Founded Goldman Sachs Real Estate Finance Trust Inc is founded2

Filings

87 filings to the SEC since October 2021: 2 annual reports, 6 quarterly reports, 36 major events, 25 insider forms, 3 large holders, 2 private raises, 13 other. The latest 20:

  1. Oct 7, 20268-K EDGAR
  2. Oct 1, 20268-K EDGAR
  3. Sep 8, 20268-K EDGAR
  4. Aug 13, 202610-Q EDGAR
  5. Aug 7, 20268-K EDGAR
  6. Jul 21, 2026DEFA14A EDGAR
  7. Jul 17, 2026ABS-15G EDGAR
  8. Jul 8, 20268-K EDGAR
  9. Jun 10, 2026DEFA14A EDGAR
  10. Jun 10, 2026DEFA14A EDGAR
  11. Jun 10, 2026DEF 14A EDGAR
  12. Jun 5, 20268-K EDGAR
  13. May 14, 202610-Q EDGAR
  14. May 7, 20268-K EDGAR
  15. May 7, 20264 EDGAR
  16. Apr 7, 20268-K EDGAR
  17. Apr 6, 20268-K EDGAR
  18. Mar 24, 20268-K EDGAR
  19. Mar 19, 20268-K EDGAR
  20. Mar 6, 2026ABS-15G EDGAR

The 87 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

2 open-market trades by officers, directors and large owners since October 2021: 2 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 1, 2026GS FUND HOLDINGS, L.L.C.Buy1,001,201$24.97$25.0MForm 4
Jan 6, 2025GS FUND HOLDINGS, L.L.C.Buy1,000,000$25.00$25.0MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Jan 6, 2025Raised $424.3 million in a private offering of equity Form D: 1,466 investors so far Form D

SEC filer profile

How Goldman Sachs Real Estate Finance Trust Inc is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARGoldman Sachs Real Estate Finance Trust Inc1
  • CIK0002027537
  • Employer ID (EIN)99-20250856
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company6
  • Incorporated inMaryland6
  • Fiscal year endsDecember 311
  • Industry code (SIC)6798 Real Estate Investment Trusts1
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
  • Business address200 West Street, New York, NY 102821
  • Phone212.902.10001
  • Shares outstanding13,780,436 Common Stock Series D shares; 13,780,436 Common Stock Series I shares; 13,780,436 Common Stock Series S shares; 13,780,436 Common Stock Series T shares; 2,000,000 Common Class FI shares; 998,403 Common Class FII shares; 1,000,000 Common Stock Series NV1 shares; 1,000,000 Common Stock Series NV2 shares as of Feb 24, 20266
  • Public float$0 as of Jun 30, 20253
  • AuditorPricewaterhouseCoopers LLP, Boston, Massachusetts PCAOB ID 238; no auditor attestation of internal control over financial reporting6
  • On EDGAR sinceJul 16, 20241
  • Filings87 in all: 8-K (35), 3 (13), 4 (12), 10-Q (6), DEFA14A (3), UPLOAD (3), 10-K (2), ABS-15G (2)1
    All 17 form types

    CORRESP (2), SCHEDULE 13D/A (2), 10-12G (1), 10-12G/A (1), 8-K/A (1), D (1), D/A (1), DEF 14A (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (10-K) Feb 25, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Jun 10, 2026
    Latest 8-K (8-K) Oct 7, 2026

Risk factors and legal proceedings

The risks Goldman Sachs Real Estate Finance Trust Inc names in Item 1A of its 10-K filed Feb 25, 2026: 78 risks under these headings, as written.6

  • Risks Related to Our Organizational Structure
  • We have a limited operating history, and there is no assurance that we will be able to successfully achieve our investment objectives.
  • Stockholders will not have the opportunity to evaluate our new investments before we make them, which makes stockholders’ investment more speculative.
  • The Adviser will manage our portfolio pursuant to very broad investment guidelines and generally will not be required to seek the approval of our board of directors for each investment, financing or asset allocation decision made by it, which may result in our making riskier investments and which could adversely affect our results of operations and financial condition.
  • There is no public trading market for shares of our common stock; therefore, a stockholder’s ability to dispose of their shares will likely be limited to repurchase by us. If stockholders do sell their shares to us, they may receive less than the price they paid.
  • Stockholders’ ability to have their shares repurchased through our share repurchase plan is limited. We may choose to repurchase fewer shares than have been requested to be repurchased, in our discretion at any time, and the amount of shares we may repurchase is subject to caps. Further, our board of directors may make exceptions to, modify, suspend or terminate our share repurchase plan if it deems such an action to be in our best interest.
  • Economic events that may cause our stockholders to request that we repurchase their shares may materially adversely affect our cash flow and our results of operations and financial condition.
  • We face risks associated with the deployment of our capital.
  • The amount and source of distributions we may make to our stockholders is uncertain, and we may be unable to generate sufficient cash flows from our operations to make distributions to our stockholders at any time in the future.
  • We may fund distributions from sources other than our cash flow from operations, including borrowings or offering proceeds, the sale of or repayments under our investments, and indirectly through expense support from the Adviser and we have no limits on the amounts we may pay from such sources.
  • Distribution fees payable to participating broker-dealers will lower the returns of holders of our Class T, Class S and Class D shares. For such holders, those lower returns may continue indefinitely unless their broker-dealers have placed a limit on aggregate selling commissions, placement fees and distribution fees.
  • Purchases and repurchases of shares of our common stock are generally made based on the prior month’s NAV per share of our common stock.
The other 67 risks
  • Valuations of our investments reflect estimates of fair value and may not necessarily correspond to realizable value, which could adversely affect the value of our stockholders’ investment.
  • Our NAV per share may change materially if the values of our investments materially change, if the actual operating results for a particular month differ from what we originally budgeted for that month or if there are fluctuations in interest rates.
  • The NAV per share that we publish may not necessarily reflect changes in our NAV that are not immediately quantifiable.
  • NAV calculations are not governed by governmental or independent securities, financial or accounting rules or standards.
  • Our board of directors may, in the future, adopt certain measures under Maryland law without stockholder approval that may have the effect of making it less likely that stockholders would receive a “control premium” for their shares.
  • Our charter permits our board of directors to authorize us to issue preferred stock on terms that may subordinate the rights of the holders of our current common stock or discourage a third party from acquiring us.
  • Maryland law limits, in some cases, the ability of a third party to vote shares acquired in a “control share acquisition.”
  • Maryland law and our organizational documents limit our rights and the rights of our stockholders to recover claims against our directors and officers, which could reduce stockholders’ and our recovery against them if they cause us to incur losses.
  • Maryland law limits our stockholders’ ability to amend our charter or dissolve us without the approval of our board of directors.
  • Stockholders’ interests in us will be diluted if we issue additional shares.
  • Our bylaws designate the Circuit Court for Baltimore City, Maryland or, if that court does not have jurisdiction, the United States District Court for the District of Maryland, Baltimore Division, as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
  • Our activities may be limited as a result of potentially being deemed to be controlled by a bank holding company.
  • We are not required to comply with certain reporting requirements under the Exchange Act, including those relating to auditor’s attestation reports on the effectiveness of our system of internal control over financial reporting, accounting standards and disclosure about our executive compensation, that apply to other public companies.
  • Stockholders’ investment returns may be reduced if we are required to register as an investment company under the Investment Company Act.
  • We depend on the Adviser to develop appropriate systems and procedures to control operational risk.
  • We are dependent on information systems, and systems failures, as well as operating failures, could significantly disrupt our business, which may, in turn, negatively affect our liquidity, financial condition or results of operations.
  • Cybersecurity risks and cyber incidents may adversely affect our business by causing a disruption to our operations, a compromise or corruption of our confidential information and/or damage to our business relationships, all of which could negatively impact our business, financial condition and operating results.
  • We are subject to risks associated with artificial intelligence and machine learning technology.
  • We may face risks associated with short sales.
  • We will face risks associated with hedging transactions.
  • Uncertainty with respect to market disruption and terrorism could have a significant adverse effect on our business, financial condition and results of operations.
  • Force Majeure.
  • Electronic Signatures.
  • Risks Related to Our Investments
  • Our loans and other investments expose us to risks associated with debt-oriented real estate investments generally.
  • The lack of liquidity in our investments may adversely affect our business.
  • Our debt investments will face prepayment risk and interest rate fluctuations that may adversely affect our results of operations and financial condition.
  • Difficulty in redeploying the proceeds from repayments of our loans and investments may cause our financial performance and returns to investors to suffer.
  • The mortgage loans in which we have invested and expect to continue to invest in and the mortgage loans underlying the mortgage securities in which we may invest are subject to delinquency, foreclosure and loss, which could result in losses to us.
  • We may need to foreclose on certain of the loans we originate or acquire, which could result in losses that harm our results of operations and financial condition.
  • Delays in liquidating defaulted commercial real estate debt investments could reduce our investment returns.
  • The properties underlying our investments may be subject to unknown liabilities, including liabilities resulting from environmental hazards, that could affect the value of these properties and as a result, our investments.
  • If the Adviser overestimates the yields or incorrectly prices the risks of our investments, we may experience losses.
  • Inflation risks may have an adverse impact on our returns.
  • Investment ratings that we may use are relative and subjective.
  • Investments in non-conforming and non-investment-grade loans or securities involve increased risk of loss.
  • Any credit ratings assigned to our investments are subject to ongoing evaluations and revisions and we cannot assure stockholders that those ratings will not be downgraded.
  • Our investments may be concentrated and are subject to risk of default.
  • We operate in a highly competitive market for investment opportunities, and competition may limit our ability to originate and/or acquire desirable investments in our target assets and could also affect the pricing of these assets.
  • Loans on properties in transition will involve a greater risk of loss than conventional mortgage loans.
  • The B Notes that we originate or acquire are subject to additional risks related to the privately negotiated structure and terms of the transaction, which may result in losses to us.
  • Mezzanine loans involve greater risks of loss than senior loans secured by income-producing properties.
  • Investments outside the U.S. that are denominated in foreign currencies would subject us to foreign currency risks and to the uncertainty of foreign laws and markets, which may adversely affect our distributions and our REIT status.
  • We are subject to the risks of investing in issuers that may commit fraud.
  • We may change our corporate governance guidelines without stockholder consent.
  • Our investment and operational policies may change without stockholder consent.
  • In our due diligence review of potential investments, we may rely on third-party consultants and advisors and representations made by sellers or borrowers, and we may not identify all relevant facts that may be necessary or helpful in evaluating potential investments.
  • We are subject to risks related to corporate social responsibility.
  • The impacts of climate change, climate-related initiatives and regulations and the increased focus on sustainability and ESG matters may adversely affect our business and financial results and damage our reputation.
  • Investments in real estate debt are subject to risks including various credit risks and early redemption features, which may materially adversely affect our results of operations and financial condition.
  • We may sponsor, and purchase the more junior securities of, collateralized loan obligations (“CLOs”). Such instruments involve significant risks, including that distributions will not be paid unless the CLO generates enough income to first pay all the investors holding senior tranches and all CLO expenses.
  • We may invest in high-yield debt, which is generally subject to more risk than higher-rated securities.
  • Some of our securities investments may become distressed, which securities would have a high risk of default and may be illiquid.
  • Certain risks associated with CMBS may adversely affect our results of operations and financial condition.
  • Concentrated CMBS investments may pose specific risks beyond the control of the Adviser that may adversely affect our results of operations and financial condition.
  • The quality of the CMBS is dependent on the credit quality and selection of the mortgages for each issuance.
  • There are certain risks associated with the insolvency of obligations backing MBS and other investments.
  • There are certain risks associated with MBS interest shortfalls.
  • We may acquire MBS affiliated with Goldman Sachs.
  • CMBS investments face risks associated with extensions that may adversely affect our results of operations and financial condition.
  • We may depend on the servicers of commercial real estate loans underlying CMBS and other investments.
  • We have invested and expect to continue to invest in commercial mortgage loans that are non-recourse in nature and include limited options for financial recovery in the event of default.
  • We may invest in structured products or similar products that may include structural and legal risks.
  • We may acquire and sell residential credit investments, which may subject us to legal, regulatory and other risks that could adversely impact our business and financial results.
  • Our investments in RMBS, which may include government mortgage pass-through securities and non-agency RMBS, will be subject to default and other risks, which may adversely affect our results of operations and financial condition.
  • We will face risks related to our investments in collateralized debt obligations.
  • We may invest in subordinated debt, which is subject to greater credit risk than senior debt.
  • We will face risks related to our investments in mezzanine loans.

Legal proceedings

From time to time, we may be involved in various claims and legal actions arising in the ordinary course of business. As of December 31, 2025, we were not involved in any material legal proceedings.

The opening of Item 3, Legal Proceedings.6

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
    SEC EDGAROther events
  32. 32
  33. 33
  34. 34