Franklin BSP Realty Trust Announces Leadership Transition
New CEO and President Appointed to Drive Strategic Growth
Franklin BSP Realty Trust, Inc. (the “Company” or “FBRT”) today announced an important leadership transition within the organization. The Company’s Board of Directors has appointed Michael Comparato, currently serving as the Company’s President, to the role of Chief Executive Officer, and Brian Buffone to the position of President, effective immediately. Richard Byrne will continue to serve as Chairman of the Board of Directors, providing continuity and strategic oversight.
This leadership evolution is designed to strengthen FBRT’s executive team, ensuring the Company is well-positioned to execute its long-term strategy and respond effectively to a dynamic real estate market environment.
Michael Comparato Appointed CEO
Michael Comparato has been promoted from President to Chief Executive Officer of FBRT. As CEO, Comparato will be responsible for guiding the Company’s overall strategic direction, overseeing its operations, and driving continued growth across FBRT’s real estate platform.
Comparato brings deep experience and a proven track record in the real estate investment sector. He has been instrumental in building and scaling Benefit Street Partners’ real estate platform, contributing significantly to FBRT’s success. In his new role, Comparato will continue to leverage his expertise to strengthen the Company’s investment capabilities, optimize portfolio performance, and support shareholder value creation.
Richard Byrne, FBRT’s Chairman, commented on Comparato’s promotion:
I am excited to welcome Mike Comparato in his new role. Mike is a highly respected industry leader who has been instrumental in building and scaling Benefit Street Partners’ real estate platform. His leadership and vision will be critical as we continue to advance FBRT’s strategy and navigate the evolving market landscape.
Brian Buffone Promoted to President
Alongside Comparato’s appointment, Brian Buffone has been elevated to the role of President. Buffone is a seasoned real estate veteran with extensive experience across investment management and strategic operations. He has been a long-standing member of FBRT’s investment team and has played a pivotal role in the Company’s investment strategy and execution.
As President, Buffone will collaborate closely with Comparato and the Board to ensure seamless operational management, strategic planning, and execution across all business units. His appointment reflects the Company’s commitment to strong leadership continuity and operational excellence.
Byrne added:
I am also proud to welcome Brian Buffone as President. Brian is a seasoned real estate veteran and a trusted partner within our investment team. Together, these appointments represent a natural evolution of FBRT’s leadership and position the Company to continue executing its strategic objectives efficiently and effectively.
Richard Byrne Continues as Chairman
Richard Byrne will maintain his role as Chairman of FBRT’s Board of Directors, providing strategic oversight and leadership continuity. Byrne has played an essential role in building FBRT’s platform and guiding its growth strategy. His ongoing involvement ensures that the Company benefits from his experience and insight during this period of executive transition.
Elizabeth Tuppeny, Lead Independent Director of FBRT’s Board, highlighted Byrne’s ongoing contribution:
The Board has confidence that the appointment of Mike and Brian pursuant to the Board’s management succession plan will position FBRT to execute its long-term strategy. We thank Rich for his exceptional leadership in building FBRT’s platform, and we are pleased he has agreed to continue as Chairman, providing strategic oversight and continuity.
Strategic Rationale for the Leadership Transition
This leadership transition reflects FBRT’s proactive approach to succession planning and its commitment to strengthening executive leadership. By elevating Comparato and Buffone, the Company ensures that its management team has the expertise, vision, and continuity necessary to achieve its long-term objectives.
The Board of Directors believes that the new leadership structure will enable FBRT to remain agile in a dynamic market, continue disciplined investment execution, and maximize value for shareholders.
Comparato commented on the transition:
I am grateful for Rich’s leadership and the role he has played in building FBRT into the company it is today. I also congratulate Brian on his promotion. Brian has been a trusted partner of mine for many years and is a proven leader who will play an important role as we continue to execute FBRT’s strategy.
Commitment to Shareholders and Strategic Execution
Both Comparato and Buffone are focused on disciplined investment execution and creating long-term value for shareholders. Their combined experience and complementary leadership skills position FBRT to navigate market challenges, identify strategic opportunities, and deliver on its investment strategy.
Comparato emphasized:
I look forward to working closely with Rich, the Board, and the management team as we remain focused on disciplined investment execution and serving the best interests of our shareholders. Our goal is to continue building on FBRT’s strong foundation and ensure that the Company remains a leader in the real estate investment sector.
Buffone added:
I am honored by the Board’s confidence and look forward to partnering with Mike and the executive team to execute our strategy. Together, we will focus on operational excellence, strategic growth, and long-term value creation for our investors.
Looking Ahead
FBRT’s leadership transition marks a significant milestone in the Company’s growth journey. With Comparato as CEO, Buffone as President, and Byrne continuing as Chairman, the Company is well-positioned to pursue its strategic priorities while maintaining operational continuity and stability.
The Board remains confident that this leadership evolution supports the Company’s long-term vision and reinforces FBRT’s position as a leading real estate investment trust committed to delivering strong results for shareholders.
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