UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): ~~April 14~~September 10, 2025

Franklin BSP Real Estate Debt BDC

(Exact Name of Registrant as Specified in its Charter)

Delaware	814-01736	99-1918767
(State or Other Jurisdictionof Incorporation)	(CommissionFile Number)	(IRS. EmployerIdentification No.)
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS. Employer Identification No.)

One Madison Avenue, Suite 1600

New York, New York 10010

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code:

(212) 588-6700

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None

Title of each class TradingSymbol(s) Name of each ~~exchangeon~~exchange on which registered

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 35.0201. ~~Unregistered~~Changes ~~Sale~~in Control of ~~Equity Securities~~Registrant.

On ~~April~~September 1410, 2025, the Treasurer of the State of North Carolina acquired 99.99% of Franklin BSP Real Estate Debt BDC’s (the “Company”) ~~issued~~outstanding ~~unregistered~~ common shares of beneficial interest infrom the ~~Company,~~prior ~~par~~holders ~~value~~in ~~$0.001~~a ~~per~~private ~~share (the “Common Shares”), to certain investors pursuant to capital drawdown notices issued by the Company and sent to each of such investors~~transaction. ~~The~~As ~~offer~~a ~~and~~result ~~sale~~ of ~~the~~this ~~Common~~share ~~Shares~~purchase, ~~were~~a ~~exempt~~change ~~from~~in ~~the~~control ~~registration requirements~~ of the ~~Securities~~Company ~~Act of 1933, as amended (the “Securities Act”), pursuant to Section 4(a)(2) thereof and Regulation D promulgated thereunder~~occurred. ~~The following table details the amount of Common Shares sold and consideration therefor:~~

Date of Unregistered Sale		Aggregate Amount of Common Shares				Consideration
April 14, 2025			2,814,258.92			$	75,000,000

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FRANKLIN BSP REAL ESTATE DEBT BDC

Date: April 24, 2025

Date: September 12, 2025

/s/ Micah Goodman

Micah Goodman

Filing Compare · Franklin BSP Real Estate Debt BDC