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Richard Byrne

Chairman & Chief Executive Officer, Franklin Bsp Realty In

Search every verified Richard Byrne interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Richard Byrne, President of Benefit Street Partners and Chairman and CEO of Franklin BSP Realty Trust, appeared on two episodes of the Franklin Templeton podcast "Alternative Allocations" in April 2026. He discussed opportunities in commercial real estate debt and alternative credit, describing the current market as a disruptive environment that offers strong relative value for new capital. Byrne stated that "about 50% of all the capital, the debt capital provided to real estate developers has been from banks," with regional banks holding a significant portion of office loans, and suggested that if bank executives could mark assets to market, "they would be very relieved" and could "rip the band-aid off." Byrne characterized the rise in interest rates as an "iceberg" that has already been hit, and noted that while existing portfolios face challenges, "for new capital, there's going to be one of the best investment opportunities we've seen maybe even since the global financial crisis." He also discussed the private credit market, observing that lower leverage and better covenants on new deals create a "lot of margin for error" for lenders.

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