9AT: FS REIT ADVISOR, LLC

FS REIT ADVISOR, LLC

FS REIT ADVISOR, LLC

FS REAL ESTATE ADVISOR, LLC

Adviser Profile

As of Date	06/10/2026
Registration	SEC, Approved, 12/05/2019
ADV Location	PHILADELPHIA, PA, United States
Contact Info	215 xxxxxxx
Websites

AUM^*	9,104,574,000 7%
of that, discretionary	9,104,574,000 7%
Number of Employees	133 14%
of those in investment advisory functions	3 -25%
Private Fund GAV^*	0
Avg Account Size	9,104,574,000 7%
SMA’s	No
Private Funds	0

Adviser Type

- Large advisory firm

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Reported AUM

9B 8B 7B 5B 4B 3B 1B

2019 2020 2021 2022 2023 2024 2025 2026

Discretionary

Non-discretionary

Private Funds

No private funds

Employees

Brochure Summary

Overview

FSREIT was registered with the SEC on November 4, 2019, for the purpose of providing investment advisory services to FS Credit Real Estate Income Trust, Inc. ("FSCREIT" or the "Issuer"). At present, the Adviser's only client is FSCREIT. The Adviser may, subject to any limitations described in the investment advisory agreements it enters into with its client(s), advise other investment companies, private investment funds, structured finance vehicles, institutional investors or other persons or entities (collectively, the "Clients"), at which time the Adviser will make any necessary amendments to this Brochure. The Adviser does not provide individualized advice to investors (and an investment in a Client does not, in and of itself, create an advisory relationship between the investor

and the Adviser). Investors must consider whether a particular Client meets their investment objectives and risk tolerance prior to investing. The Adviser has entered into a sub-advisory agreement with Rialto Capital Management, LLC ("Rialto" or "Sub-adviser"), a registered investment advisor under the Investment Advisers Act of 1940, as amended (the "Act" or "Advisers Act"). Rialto will act as the portfolio manager to FSCREIT under the terms and conditions of the sub-advisory agreement it entered into with the Adviser. As of December 31, 2023, the Adviser had approximately $8,515,726,000 in assets under management for its Client, which the Adviser manages on a non-discretionary basis. The primary owner of the Adviser is Franklin Square Holdings, LP. ("FSH").

FS REIT ADVISOR, LLC

FS REIT ADVISOR, LLC

FS REAL ESTATE ADVISOR, LLC

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Brochure Summary

Overview

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FS REIT ADVISOR, LLC FS REIT ADVISOR, LLC FS REAL ESTATE ADVISOR, LLC

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Brochure Summary

Overview

FS REIT ADVISOR, LLC

FS REIT ADVISOR, LLC

FS REAL ESTATE ADVISOR, LLC