FS REIT ADVISOR

FS REIT ADVISOR is an affiliate of FS Investments, the Philadelphia-based alternative asset manager. It serves as the external advisor to FS Credit Real Estate Income Trust, responsible for the REIT's investment decisions, operations, and strategy. FS Investments operates a multi-product platform that includes business development companies, non-traded REITs, and interval funds, with FS REIT ADVISOR focused specifically on the real estate credit trust.

The REIT offers monthly share repurchases at net asset value, a structure that provides liquidity to investors on terms more frequent than traditional non-traded REITs. This monthly-NAV model is designed for the retail wealth channel, offering individual investors access to a blended portfolio of real estate debt and equity with ongoing redemption optionality, subject to liquidity limitations and board approval.

The portfolio spans first-lien commercial mortgages, mezzanine loans, preferred equity, commercial mortgage-backed securities, and direct property equity. The strategy targets a mix of private credit underwriting and physical real estate exposure, with allocations intended to balance current income generation and long-term appreciation across U.S. commercial property markets.

FS REIT ADVISOR manages the investment program, though specific portfolio managers and investment committee members are not individually profiled in public disclosures. The advisor draws on FS Investments' centralized underwriting and capital markets platform. Key parent-level executives historically include Michael Forman and David Adelman, but the REIT's day-to-day portfolio management attribution is not publicly detailed.

As of current public disclosures, FS REIT ADVISOR's sole publicly known mandate is advising FS Credit Real Estate Income Trust. The firm does not separately market other REITs or managed accounts under its own name, operating instead as a dedicated advisory entity within the broader FS Investments complex.