Franklin BSP Realty Trust, Inc. (FBRT) announced on February 10, 2026 that its current President, Michael Comparato, will become Chief Executive Officer and that Brian Buffone will assume the role of President. The change is effective immediately and is part of the board’s succession plan to strengthen leadership as the company expands its multifamily lending platform following the NewPoint acquisition.
Comparato, who has overseen the integration of the NewPoint platform and the expansion of FBRT’s agency origination and servicing capabilities, will now lead the company’s overall strategy and execution. His focus will be on driving growth, optimizing the loan portfolio, and positioning the firm for long‑term value creation.
Buffone, a long‑time member of the investment team and former Head of Real Estate Operations at Benefit Street Partners, will concentrate on day‑to‑day operations and portfolio management. His role is to ensure continuity in the firm’s core lending and asset‑management activities while supporting the new strategic direction set by Comparato.
Richard Byrne will continue as Chairman of the Board, underscoring the board’s confidence in the succession plan. The appointments are intended to align executive leadership with FBRT’s new growth trajectory, emphasizing a unified vision for its diversified mortgage‑finance business model and supporting the firm’s goal of achieving higher dividend coverage and expanding its market share in the multifamily lending space.
The leadership transition comes as FBRT navigates a high debt‑to‑equity ratio of 2.96 and a dividend payout ratio of 177.5%. By placing experienced leaders at the helm, the board aims to strengthen execution, manage financial leverage, and sustain dividend payments while pursuing strategic expansion through the NewPoint acquisition.
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