second for Good quarter Thank Mortgage call welcome or the earnings you, Christopher. Tremont. morning, to and Trust Tremont
turn over Doug recent financial an on On balance outline capital our will strategy. today's capital results business our the to sheet. raise near-term deployment, call, and call I review and discuss then our to update will provide I
community, of million industrial we property, for a apartment $XX.X quarter, shopping funded. loans by neighborhood and completed a which group loans These the closed transitional secured are center. During an $XX.X recently was three million,
a relationship. repeat whom was loans we our expand borrower had opportunities One to of with the to have
commitments volume a loan been for improved Tremont Advisors total investments of source quarter, has loan Realty the has end quality second the were At or few high $XXX.X our of our efficiently gross past to quarters. the steadily ability operating and manager million. its
In of the the closing XXXX, in since was of Tremont's loans largest million quarter quarter second quarter the September increased year-over-year XXXX. and XXXX by $XXX.X loan by second commitments outstanding inception
In fact, our to and ability this not only raise by our scale ability our accretive capital to source to is business grow ability loan by investments. quality limited
net a well mind, which the $XX.X executed. the expectations raise raise in price raise With management to pursue equity markets in offering the and made million decision proceeds that of Board and May. of capital in in and under This the public equity size the both was our was the below
this to our our is that first event, opportunity rationale. this As discuss take I call will since
and second fully activity. quarter, the origination in capital Early formation invested to Tremont access its to needed additional capital had its continue
earnings accretive core and was consideration consideration incredibly per July We be appropriately that was growing current scale share. all-in to important because and were our wanted time. pipeline earnings X, fee to on accretive growing XXXX, investments our we our dividend more believe which to A believe our at allow and over more core be share. new to a spread than are was strong, This larger ends that second also less base, G&A yields to holiday per capital earnings would investment management the our an investment business our projected we core
operating our business evaluated model requests have evidence XXX over quarter of loan than strong believe aggregate is of XXXX, we commitments successfully. with billion, which second more is $XX the Since we that
our serve was through equity temporary of manager facility of subordinated debt could condition debt, common the master readied while leveraging always of it repurchase be so under This subordinated a that we to raise. equity meant our agreed a our capital managed for event to in raise. bridge the an also that and was capital may continue in a origination SEC form You to recall, permanent as mandatory repayment provide the capital and the
As a could bridge compelled to repaid. be result, felt this we demonstrate capital
management and not the Another capital impetus our dividend to without XXXX. sector. materially fee an that there trade dividend did with the consideration We our not shares dividend which July raise capital holiday at additional in yield Considering time consistent did core our the cover grow earnings to higher. was ended was to for the inability important was the yield, reasonably we REIT for mortgage once believe common our
So, capital raise, while grow would us would a better we lightly believe did from scale the alternative not take to we that share. the dilution that result allow and a equity per we core not to had business earnings did shareholder
the core earnings pursued we the we our that higher fact and common equity trade our believe nothing. common doing to desire grow our summary, did share In per share of would confidence capabilities, origination not by raise price the because in
raise, our leverage the we capacity for have we in and $XX.X subordinated approximately $XX manager result million loans. repaid debt in with common equity the a million As of additional owed to
fully this We outstanding application have backup loan to remaining term and several an deploy sheets capital.
a by portfolio portfolio and X.X%. on weighted By supported over X.X all-in-yield its and to plans Tremont's XX is measures, loan that healthy maximum an loans quality remain years is existing average sponsors just of maturity track. business and of relates it generally with all As includes business, our
the after market, already of loans of identifying XX notices were repaid we received X debt. loan capital. repay have sponsors intending indication redeploy these will Tremont be prepayment return approximately of this state disclosing financing modest loans risk that And an loans quarter their they the month. from in book to loan with new this permanent months taking in originated of long-term process been later Both the this to we're we're our of the As and current
is recycling capital repaid. of and plans are borrower's manage loans includes of Tremont when strategy current which our to the portfolio, business the execution asset The monitoring
We to earnings ability sustain assessment also shareholders earnings based focused time. core a current dividend on and core of upon those remain our paying to our the over
a and capital anticipated the the assuming slightly the loans cover core our short quarters fee raising third current prepayment X of performing, and approximately $X.XX and current share not, capital quarterly expect near-term. our earnings We As are any deployed to do per however, have fourth quarters Tremont remains and in in to our XXXX of of in Tremont's be first growth environment, of for we the expectations the of interest-rate each XXXX. dividend result
to originate strategy. Tremont's the success important loans that of ability With the said, long-term manager of our to is
REIT and from our are capital to Tremont transitional affiliates bridge evidence manager is committed mortgage our active remaining Tremont result, loan a actively RMR its will inherent will and to and from believe business We source distinct current managing and in the middle strong a portfolio. only As that market bridge manager our be This private working value the to this remains separate benefit to and transitional loan space originate loans. market. in
the review turn call to sheet. financial and results balance our now I'll Doug to over
