Sunrise Realty Trust, Inc. and Southern Realty Trust Inc., Tannenbaum Capital Group Affiliates, Complete Merger
Key Highlights
- ➤Merger completed, combining SUNS and SRT into a larger Nasdaq-listed lending platform
- ➤Combined company had $285 million book value and $534 million total assets
- ➤Combined portfolio included $604 million of loan commitments across 14 loans
- ➤SUNS issued 8,464,975 shares; former SRT holders own approximately 38.5%
- ➤Management fee reductions include $1.0 million total relief over four quarters
Expert Statements
Leonard Tannenbaum, Executive Chairman of Sunrise Realty Trust, Inc.
“The completion of this Merger is a transformative milestone in SUNS' evolution as a public company”
Leonard Tannenbaum, Executive Chairman of Sunrise Realty Trust, Inc.
“By combining two complementary portfolios built on the same disciplined investment philosophy, we have created a larger, more efficient lending platform with an expanded equity base and a broader stockholder base, which we believe positions us to continue to generate attractive risk-adjusted returns and build long-term stockholder value. We are pleased to welcome former SRT stockholders to SUNS.”
Brian Sedrish, Chief Executive Officer of Sunrise Realty Trust, Inc.
“Upon closing of the Merger, our co-investments now sit on a single balance sheet, which we expect will lower our operating costs on a combined basis and broaden our access to capital”
Brian Sedrish, Chief Executive Officer of Sunrise Realty Trust, Inc.
“We remain focused on constructing a portfolio of attractive, risk-adjusted loans to high-quality sponsors with assets primarily located in established and rapidly expanding Southern markets.”
Sunrise Realty Trust, Inc. and Southern Realty Trust Inc., Tannenbaum Capital Group Affiliates, Complete Merger PR Newswire
WEST PALM BEACH, Fla., Nov. 5, 2026 /PRNewswire/ -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) ("SUNS" or the "Company") and Southern Realty Trust Inc. ("SRT"), two commercial real estate lenders on the Tannenbaum Capital Group ("TCG") Real Estate platform, today announced the completion of the previously announced merger of SRT with and into a wholly owned subsidiary of SUNS (the "Merger"). The Merger consolidates the two companies' co-investments into a single, larger Nasdaq-listed commercial real estate lending platform. On a pro forma basis as of June 30, 2026, the combined company had approximately $285 million of book value (after transaction-cost adjustments), approximately $534 million of total assets and approximately $604 million of total loan commitments across 14 portfolio loans collateralized by assets located predominantly in core Southern U.S. markets. The combined company will continue to operate as Sunrise Realty Trust, Inc., and its common stock will continue to trade on Nasdaq under the ticker symbol "SUNS."
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