BMO Commercial Mortgage Securities FWP Free writing prospectus

		FREE WRITING PROSPECTUS
		FILED PURSUANT TO RULE 433
		REGISTRATION FILE NO.: 333-255934-05

BMO 2023-C5 Disclaimer

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (‘‘SEC’’) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the depositor or BMO Capital Markets Corp., any other underwriter, or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-866-864-7760 (8 a.m. – 5 p.m. EST).

Nothing in this document constitutes an offer of securities for sale in any jurisdiction where the offer or sale is not permitted. The information contained herein is preliminary as of the date hereof, supersedes any such information previously delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus relating to the securities. These materials are subject to change, completion, supplement or amendment from time to time.

STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES AND OTHER INFORMATION

The attached information contains certain tables and other statistical analyses (the “Computational Materials”) which have been prepared in reliance upon information furnished by the Mortgage Loan Sellers. Numerous assumptions were used in preparing the Computational Materials, which may or may not be reflected herein. As such, no assurance can be given as to the Computational Materials’ accuracy, appropriateness or completeness in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. You should consult your own counsel, accountant and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these securities. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment and/or loss assumptions, and changes in such prepayment and/or loss assumptions may dramatically affect such weighted average lives, yields and principal payment periods. In addition, it is possible that prepayments or losses on the underlying assets will occur at rates higher or lower than the rates shown in the attached Computational Materials. The specific characteristics of the securities may differ from those shown in the Computational Materials due to differences between the final underlying assets and the preliminary underlying assets used in preparing the Computational Materials. The principal amount and designation of any security described in the Computational Materials are subject to change prior to issuance. None BMO Capital Markets Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., KeyBanc Capital Markets Inc., UBS Securities LLC, Bancroft Capital, LLC, Drexel Hamilton, LLC or any of their respective affiliates, make any representation or warranty as to the actual rate or timing of payments or losses on any of the underlying assets or the payments or yield on the securities. The information in this presentation is based upon management forecasts and reflects prevailing conditions and management’s views as of this date, all of which are subject to change. In preparing this presentation, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us by or on behalf of the Mortgage Loan Sellers or which was otherwise reviewed by us.

This free writing prospectus contains certain forward-looking statements. If and when included in this free writing prospectus, the words “expects”, “intends”, “anticipates”, “estimates” and analogous expressions and all statements that are not historical facts, including statements about our beliefs or expectations, are intended to identify forward-looking statements. Any forward-looking statements are made subject to risks and uncertainties which could cause actual results to differ materially from those stated. Those risks and uncertainties include, among other things, declines in general economic and business conditions, increased competition, changes in demographics, changes in political and social conditions, regulatory initiatives and changes in customer preferences, many of which are beyond our control and the control of any other person or entity related to this offering. The forward-looking statements made in this free writing prospectus are made as of the date stated on the cover. We have no obligation to update or revise any forward-looking statement.

IMPORTANT NOTICE REGARDING THE OFFERED CERTIFICATES

The information herein is preliminary and may be supplemented or amended prior to the time of sale.

In addition, the Offered Certificates referred to in these materials and the asset pool backing them are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined, or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis.

The underwriters described in these materials may from time to time perform investment banking services for, or solicit investment banking business from, any company named in these materials. The underwriters and/or their affiliates or respective employees may from time to time have a long or short position in any security or contract discussed in these materials.

The information contained herein supersedes any previous such information delivered to any prospective investor and will be superseded by information delivered to such prospective investor prior to the time of sale.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY-GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of any email communication to which this free writing prospectus is attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) any representation that these materials are accurate or complete and may not be updated or (3) these materials possibly being confidential, are not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.

Loan ID Number

Loan / Property Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

% of Initial Pool Balance

% of Loan Balance

Mortgage Loan Originator

Mortgage Loan Seller

Related Group

Crossed Group

Address

City

County

State

Zip Code

General Property Type

Detailed Property Type

Year Built

Year Renovated

Number of Units

Unit of Measure

Loan Per Unit ($)

Original Balance ($)

Cut-off Date Balance ($)

Maturity/ARD Balance ($)

Interest Rate %

Administrative Fee Rate %

Net Mortgage Rate %

Monthly Debt Service (P&I) ($)

Monthly Debt Service (IO) ($)

Annual Debt Service (P&I) ($)

Annual Debt Service (IO) ($)

Amortization Type

ARD Loan (Yes / No)

Interest Accrual Method

Original Interest-Only Period (Mos.)

Remaining Interest-Only Period (Mos.)

Original Term To Maturity / ARD (Mos.)

Remaining Term To Maturity / ARD (Mos.)

Original Amortization Term (Mos.)

Remaining Amortization Term (Mos.)

Origination Date

Seasoning (Mos.)

Payment Due Date

First Payment Date

First P&I Payment Date

Maturity Date or Anticipated Repayment Date

Final Maturity Date

Grace Period - Late Fee (Days)

Grace Period - Default (Days)

Prepayment Provision

Most Recent EGI ($)

Most Recent Expenses ($)

Most Recent NOI ($)

Most Recent NOI Date

Most Recent Description

Second Most Recent EGI ($)

Second Most Recent Expenses ($)

Second Most Recent NOI ($)

Second Most Recent NOI Date

Second Most Recent Description

Third Most Recent EGI ($)

Third Most Recent Expenses ($)

Third Most Recent NOI ($)

Third Most Recent NOI Date

Third Most Recent Description

Underwritten Economic Occupancy (%)

Underwritten EGI ($)

Underwritten Expenses ($)

Underwritten Net Operating Income ($)

Underwritten Replacement / FF&E Reserve ($)

Underwritten TI / LC ($)

Underwritten Net Cash Flow ($)

Underwritten NOI DSCR (x)

Underwritten NCF DSCR (x)

Underwritten NOI Debt Yield (%)

Underwritten NCF Debt Yield (%)

Appraised Value ($)

Appraised Value Type

Appraisal Date

Cut-off Date LTV Ratio (%)

LTV Ratio at Maturity / ARD (%)

Leased Occupancy (%)

Occupancy Date

Single Tenant (Y/N)

Largest Tenant

Largest Tenant SF

Largest Tenant % of NRA

Largest Tenant Lease Expiration Date

Second Largest Tenant

Second Largest Tenant SF

Second Largest Tenant % of NRA

Second Largest Tenant Lease Expiration Date

Third Largest Tenant

Third Largest Tenant SF

Third Largest Tenant % of NRA

Third Largest Tenant Lease Expiration Date

Fourth Largest Tenant

Fourth Largest Tenant SF

Fourth Largest Tenant % of NRA

Fourth Largest Tenant Lease Expiration Date

Fifth Largest Tenant

Fifth Largest Tenant SF

Fifth Largest Tenant % of NRA

Fifth Largest Tenant Lease Expiration Date

Environmental Phase I Report Date

Environmental Phase II Report Date

Engineering Report Date

Seismic Report Date

PML or SEL (%)

Flood Zone

Ownership Interest

Ground Lease Expiration Date

Ground Lease Extension Terms

Annual Ground Lease Payment as of the Cut-off Date ($)

Annual Ground Rent Increases (Y/N)

Upfront RE Tax Reserve ($)

Monthly RE Tax Reserve ($)

Upfront Insurance Reserve ($)

Monthly Insurance Reserve ($)

Upfront Replacement / PIP Reserve ($)

Monthly Replacement / FF&E Reserve ($)

Replacement Reserve Caps ($)

Upfront TI/LC Reserve ($)

Monthly TI/LC Reserve ($)

TI/LC Caps ($)

Upfront Debt Service Reserve ($)

Monthly Debt Service Reserve ($)

Debt Service Reserve Cap ($)

Upfront Deferred Maintenance Reserve ($)

Upfront Other Reserve ($)

Monthly Other Reserve ($)

Other Reserve Description

Other Reserve Cap ($)

Holdback/ Earnout Amount ($)

Holdback/ Earnout Description

Lockbox Type

Cash Management

Excess Cash Trap Triggered by DSCR and/or Debt Yield Test (Y/N)

Tenant Specific Excess Cash Trap Trigger (Y/N)

Pari Passu (Y/N)

Pari Passu in Trust Controlling (Y/N)

Trust Pari Passu Cut-off Date Balance ($)

Non-Trust Pari Passu Companion Loan Cut-off Date Balance ($)

Non-Trust Pari Passu Companion Loan Monthly Debt Service ($)

Total Trust and Non-Trust Pari Passu Companion Loan Monthly Debt Service ($)

Subordinate Companion Loan Cut-off Date Balance ($)

Subordinate Companion Loan Interest Rate

Whole Loan Cut-off Date Balance ($)

Whole Loan Monthly Debt Service ($)

Whole Loan Cut-off Date LTV Ratio (%)

Whole Loan Underwritten NCF DSCR (x)

Whole Loan Underwritten NOI Debt Yield (%)

Mezzanine Debt Cut-off Date Balance($)

Mezzanine Debt Interest Rate (%)

Total Debt Cut-off Date Balance ($)

Total Debt Monthly Debt Service ($)

Total Debt Cut-off Date LTV Ratio (%)

Total Debt Underwritten NCF DSCR (x)

Total Debt Underwritten NOI Debt Yield (%)

Future Additional Debt Permitted (Y/N)

Future Debt Permitted Type

Sponsor

Non-Recourse Carveout Guarantor

Delaware Statutory Trust
(Y/N)

Tenants-in-common
(Y/N)

Loan Purpose

Property Located Within a Qualified Opportunity Zone (Y/N)

Sources: Loan Amount ($)

Sources: Principal's New Cash Contribution ($)

Sources: Subordinate Debt ($)

Sources: Other Sources ($)

Sources: Total Sources ($)

Uses: Loan Payoff ($)

Uses: Purchase Price ($)

Uses: Closing Costs ($)

Uses: Reserves ($)

Uses: Principal Equity Distribution ($)

Uses: Other Uses ($)

Uses: Total Uses ($)

Franchise Agreement Expiration

Underwritten ADR ($)

Underwritten RevPAR ($)

Underwritten Hotel Occupancy (%)

Most Recent ADR ($)

Most Recent RevPAR ($)

Most Recent Hotel Occupancy (%)

Second Most Recent ADR ($)

Second Most Recent RevPAR ($)

Second Most Recent Hotel Occupancy (%)

Third Most Recent ADR ($)

Third Most Recent RevPAR ($)

Third Most Recent Hotel Occupancy (%)

Loan

Brier Creek Commons

9.8%

100.0%

ZBNA

NAP

8811, 8331, 8341, 8011, 8161 and 8115 Brier Creek Parkway and 10370 Lumley Road

Raleigh

Wake

27617

Retail

Anchored

2001

NAP

519,277

163.58

65,000,000

64,958,243

56,574,888

6.91000%

0.01876%

6.89124%

428,524.94

NAP

5,142,299.28

NAP

Amortizing Balloon

Actual/360

120

119

360

359

4/20/2023

6/6/2023

5/6/2033

L(25),D(91),O(4)

12,113,647

3,462,674

8,650,973

2/28/2023

T-12

12,145,468

3,575,672

8,569,797

12/31/2022

T-12

11,715,014

3,235,682

8,479,332

12/31/2021

T-12

95.0%

12,422,790

3,616,139

8,806,651

77,892

298,584

8,430,175

1.31

1.25

10.4%

9.9%

136,200,000

As Is

3/22/2023

62.4%

54.3%

98.5%

4/1/2023

BJ's Wholesale Club

108,532

20.9%

9/16/2026

Dick's Sporting Goods

45,000

8.7%

1/31/2028

Ross Dress for Less

30,064

5.8%

1/31/2028

TJ Maxx

30,000

5.8%

4/30/2032

HomeGoods

25,000

4.8%

4/30/2032

3/24/2023

NAP

3/28/2023

NAP

Fee

NAP

752,049

83,561

Springing

6,491

28,128

1,250,000

58,333

Rent Concession Reserve Fund

NAP

Springing

Yes

64,958,243

19,987,152

131,853.83

560,378.77

NAP

84,945,395

560,378.77

62.4%

1.25

10.4%

NAP

Maria Beatrice Countess Arco

AAC Consolidated Properties, LLC

Refinance

85,000,000

70,400,945

1,457,492

810,382

2,060,070

10,271,111

85,000,000

NAP

Loan

Central Florida Industrial Portfolio

6.4%

KeyBank

Group A

NAP

Various

Industrial

Flex

Various

419,886

100.60

42,240,000

6.21000%

0.02751%

6.18249%

NAP

221,628.00

NAP

2,659,536.00

Interest Only

Actual/360

120

119

120

119

4/28/2023

6/1/2023

NAP

5/1/2033

L(25),D(92),O(3)

5,729,508

1,792,389

3,937,119

12/31/2021

T-12

NAV

91.5%

7,554,885

3,200,036

4,354,850

25,483

120,667

4,208,700

1.64

1.58

10.3%

10.0%

70,400,000

As Is

3/20/2023

60.0%

93.5%

Various

467,442

66,778

348,474

62,504

375,000

Springing

375,000

3,500,000

Springing

3,500,000

100,813

277,735

Unfunded Obligations ($228,190), Rent Concession Reserve ($49,545)

NAP

Hard

In Place

Yes

NAP

NexPoint Real Estate Advisors, L.P.

Highland Income Fund

Yes

Acquisition/Recapitalization

42,240,000

23,383,521

65,623,521

22,056,296

33,000,000

5,497,760

5,069,465

65,623,521

NAP

2.01

Property

Orlando International Business Center

3.4%

52.7%

5730-5892 South Semoran Boulevard

Orlando

Orange

32822

Industrial

Flex

1983, 1985

2022

196,228

22,265,000

3,040,122

948,057

2,092,065

12/31/2021

T-12

NAV

90.6%

3,841,085

1,533,268

2,307,818

11,909

74,168

2,221,740

36,500,000

As Is

3/20/2023

91.1%

3/15/2023

MSE Group, LLC

13,581

6.9%

6/30/2025

Central Florida Regional Workforce Development Board

12,363

6.3%

9/30/2024

Total Renal Care, Inc

14,213

7.2%

9/30/2026

Children's Home Society of FL

10,531

5.4%

3/31/2027

Vocational Development Group

10,399

5.3%

3/31/2027

10/31/2022

NAP

10/31/2022

NAP

Fee

NAP

2.02

Property

Corporex Plaza

1.4%

21.5%

3902 and 3904 Corporex Park Drive and 6802 Lakeview Center Drive

Tampa

Hillsborough

33619

Industrial

Flex

1984-1985

NAP

100,265

9,087,000

1,090,758

382,609

708,149

12/31/2021

T-12

NAV

92.5%

1,704,816

769,441

935,375

6,085

18,053

911,237

15,400,000

As Is

3/20/2023

93.4%

2/27/2023

Ademco, Inc.

14,098

14.1%

10/31/2025

Joffrey's Coffee and Tea

9,534

9.5%

5/31/2026

Inspectorate America Corp

7,214

7.2%

10/31/2026

Global Alliance Distributors

5,995

6.0%

6/30/2024

IGT Global Solutions Corp

5,520

5.5%

10/31/2024

11/28/2022

NAP

11/28/2022

NAP

Fee

NAP

2.03

Property

Brandywine Business Center

1.0%

16.1%

3801 and 3803 Corporex Park Drive

Tampa

Hillsborough

33619

Industrial

Flex

1986

NAP

79,124

6,793,000

1,051,315

294,158

757,157

12/31/2021

T-12

NAV

92.5%

1,262,406

574,205

688,201

4,802

19,491

663,908

12,000,000

As Is

3/20/2023

100.0%

2/27/2023

Joffrey's Coffee and Tea Company

33,497

42.3%

5/31/2026

Acree Air Conditioning, Inc.

10,240

12.9%

1/31/2027

Pharmscript of Florida

9,710

12.3%

12/31/2026

Tri-Ed Distribution, Inc.

7,365

9.3%

9/30/2023

Guardian Haven Academy, Inc.

6,907

8.7%

2/28/2024

11/28/2022

NAP

11/28/2022

NAP

Fee

NAP

2.04

Property

President's Plaza

0.6%

9.7%

4801 and 4803 George Road

Tampa

Hillsborough

33634

Industrial

Flex

1988

NAP

44,269

4,095,000

547,313

167,565

379,748

12/31/2021

T-12

NAV

92.1%

746,577

323,121

423,456

2,686

8,954

411,816

6,500,000

As Is

3/20/2023

92.3%

2/27/2023

National Flood Experts, LLC

9,168

20.7%

1/31/2027

E-Med Source (Angel's Care)

8,114

18.3%

8/31/2024

Echo UES, Inc.

6,334

14.3%

2/28/2025

Process Inc.

4,950

11.2%

12/31/2024

SunRun, Inc.

4,663

10.5%

12/31/2024

11/28/2022

NAP

11/28/2022

NAP

Fee

NAP

Loan

Hyatt Regency Indianapolis

6.0%

100.0%

CREFI

NAP

1 South Capitol Avenue

Indianapolis

Marion

46204

Hospitality

Full Service

1977

2020

499

Rooms

117,267.89

40,000,000

39,943,123

34,969,110

7.08000%

0.01876%

7.06124%

268,273.56

NAP

3,219,282.72

NAP

Amortizing Balloon

Actual/360

120

118

360

358

4/5/2023

5/6/2023

4/6/2033

L(26),D(90),O(4)

32,008,192

22,922,437

9,085,755

2/28/2023

T-12

31,512,414

22,392,612

9,119,802

12/31/2022

T-12

20,360,119

15,872,047

4,488,072

12/31/2021

T-12

63.4%

32,008,192

22,967,684

9,040,508

1,280,328

7,760,180

1.92

1.65

15.4%

13.3%

140,900,000

As Is

2/2/2023

41.5%

36.4%

63.4%

2/28/2023

NAP

2/14/2023

NAP

2/14/2023

NAP

Fee

NAP

157,268

Springing

106,694

72,600

127,022

27,945

Seasonality Reserve (Upfront: $127,022, Monthly: $27,945) PIP Reserve (Monthly: Springing)

NAP

Hard

Springing

Yes

39,943,123

18,573,552

124,747.21

393,020.77

NAP

58,516,675

393,020.77

41.5%

1.65

15.4%

NAP

William J. Yung III, Martha Yung, William J. Yung IV, Joseph A. Yung, Julie A. Haught, Judith A. Yung, Jennifer A. Yung, Michelle M. Christensen and Scott A. Yung

CSC Holdings, LLC

Refinance

Yes

58,600,000

24,877,326

83,477,326

81,937,533

1,182,903

356,890

83,477,326

4/4/2038

174.52

110.66

63.4%

174.52

110.66

63.4%

174.09

108.81

62.5%

157.23

65.38

41.6%

Loan

Cincinnati Multifamily Portfolio

5.9%

BMO

Group C

NAP

Various

Cincinnati

Hamilton

45211

Multifamily

Garden

Various

375

Units

104,000.00

39,000,000

6.91000%

0.01876%

6.89124%

NAP

227,694.10

NAP

2,732,329.20

Interest Only

Actual/360

120

118

120

118

4/3/2023

5/6/2023

NAP

4/6/2033

L(26),D(90),O(4)

5,053,108

1,144,631

3,908,477

1/31/2023

T-12

4,238,020

1,242,704

2,995,316

12/31/2021

T-12

3,645,361

1,313,616

2,331,745

12/31/2020

T-12

97.1%

5,305,652

1,147,080

4,158,572

86,250

4,072,322

1.52

1.49

10.7%

10.4%

60,600,000

As Is

3/2/2023

64.4%

97.9%

3/1/2023

42,247

8,449

114,212

10,383

337,500

Springing

337,500

94,956

100,000

Radon Testing Reserve

NAP

Springing

Yes

NAP

Mendel Steiner

Recapitalization

39,000,000

17,010,000

56,010,000

16,881,343

943,921

688,915

20,485,820

17,010,000

56,010,000

NAP

4.01

Property

Ferncrest Apartments

2.1%

36.0%

3173 Ferncrest Court

Cincinnati

Hamilton

45211

Multifamily

Garden

1970

NAP

144

Units

14,046,600

1,866,126

422,468

1,443,659

1/31/2023

T-12

1,586,593

442,953

1,143,640

12/31/2021

T-12

1,369,766

493,421

876,345

12/31/2020

T-12

97.2%

1,935,830

422,542

1,513,288

33,120

1,480,168

21,800,000

As Is

3/2/2023

97.9%

3/1/2023

NAP

3/29/2023

NAP

3/8/2023

NAP

Fee

NAP

4.02

Property

Candlewood Apartments

2.0%

34.6%

2400 Harrison Avenue

Cincinnati

Hamilton

45211

Multifamily

Garden

1961

2018

110

Units

13,494,400

1,639,690

354,275

1,285,414

1/31/2023

T-12

1,392,621

372,995

1,019,626

12/31/2021

T-12

1,163,857

403,948

759,909

12/31/2020

T-12

98.6%

1,771,932

357,122

1,414,810

25,300

1,389,510

21,000,000

As Is

3/2/2023

98.2%

3/1/2023

NAP

3/27/2023

NAP

3/29/2023

NAP

Fee

NAP

4.03

Property

Renata Apartments

1.7%

29.4%

2459 Westwood Northern Boulevard

Cincinnati

Hamilton

45211

Multifamily

Garden

1966

NAP

121

Units

11,459,000

1,547,292

367,888

1,179,404

1/31/2023

T-12

1,258,806

426,756

832,050

12/31/2021

T-12

1,111,738

416,247

695,491

12/31/2020

T-12

96.3%

1,597,890

367,416

1,230,474

27,830

1,202,644

17,800,000

As Is

3/2/2023

97.5%

3/1/2023

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

Loan

Great Lakes Crossing Outlets

5.7%

100.0%

BMO, DBRI, GSBI

BMO, GACC

NAP

4000 Baldwin Road

Auburn Hills

Oakland

48326

Retail

Outlet Center

1998

2010

1,128,332

159.53

37,500,000

6.52100%

0.01876%

6.50224%

NAP

206,611.55

NAP

2,479,338.60

Interest Only

Actual/360

120

116

120

116

1/5/2023

3/1/2023

NAP

2/1/2033

L(28),D(86),O(6)

46,424,127

14,768,491

31,655,635

11/30/2022

T-12

47,261,766

14,350,428

32,911,337

12/31/2021

T-12

40,708,568

12,857,184

27,851,384

12/31/2020

T-12

92.6%

47,000,639

15,438,872

31,561,767

259,516

1,567,562

29,734,689

2.65

2.50

17.5%

16.5%

400,000,000

As Is

11/10/2022

45.0%

89.6%

11/30/2022

Burlington Coat Factory

81,082

7.2%

1/31/2030

Round 1 Bowling Amusement

59,071

5.2%

9/30/2027

Forever 21

47,203

4.2%

MTM

Marshalls

35,191

3.1%

1/31/2027

TJ Maxx

34,766

3.1%

1/31/2027

11/16/2022

NAP

11/18/2022

NAP

Fee

NAP

Springing

519,033

94,028

2,256,664

1,805,623

Outstanding TI/LC Reserve ($1,581,204.38), Gap Rent Reserve ($224,418.36)

NAP

Hard

Springing

Yes

37,500,000

142,500,000

785,123.87

991,735.42

NAP

180,000,000

991,735.42

45.0%

2.50

17.5%

NAP

The Taubman Realty Group LLC

Refinance

180,000,000

962,977

180,962,977

177,589,210

1,568,144

1,805,623

180,962,977

NAP

Loan

Oak Street NLP Fund Portfolio

4.5%

WFBNA, KeyBank

KeyBank

NAP

Various

6,470,388

52.55

30,000,000

6.13800%

0.02876%

6.10924%

NAP

155,581.25

NAP

1,866,975.00

Interest Only

Actual/360

2/23/2023

4/11/2023

NAP

3/11/2028

L(27),D(26),O(7)

55,257,111

12/31/2022

T-12

NAV

95.0%

82,796,630

21,989,943

60,806,687

1,413,262

2,134,710

57,258,714

2.87

2.71

17.9%

16.8%

1,051,080,000

As Is

Various

32.3%

100.0%

2/23/2023

Springing

27,550

Springing

Save Mart LOC Reserve

NAP

Hard

In Place

Yes

30,000,000

310,000,000

1,607,672.92

1,763,254.17

85,000,000

6.13800%

425,000,000

2,204,067.71

40.4%

2.16

14.3%

NAP

Blue Owl Capital, Inc. and Oak Street Real Estate Capital, LLC

Oak Street Real Estate Capital Net Lease Property Fund, LP, Oak Street Real Estate Capital Net Lease Property Fund (A), LP and Oak Street Real Estate Capital Net Lease Property Fund (P), LP

Recapitalization

340,000,000

85,000,000

425,000,000

11,288,500

27,550

413,683,950

425,000,000

NAP

6.01

Property

Big Lots - Tremont, PA

0.7%

16.1%

50 Rausch Creek Road

Tremont

Schuylkill

17981

Industrial

Warehouse / Distribution

2000

NAP

1,294,548

4,836,000

NAV

95.0%

13,354,110

4,834,166

8,519,944

127,411

304,901

8,087,632

169,430,000

As Is

12/28/2022

100.0%

2/23/2023

Yes

Big Lots, Inc.

1,294,548

100.0%

6/30/2040

NAP

1/4/2023

NAP

1/3/2023

NAP

Fee

NAP

6.02

Property

Big Lots - Durant, OK

0.6%

13.1%

2306 Enterprise Drive

Durant

Bryan

74701

Industrial

Warehouse / Distribution

2003

NAP

1,296,562

3,937,412

NAV

95.0%

11,202,938

2,487,690

8,715,248

187,470

305,373

8,222,405

138,000,000

As Is

12/27/2022

100.0%

2/23/2023

Yes

Big Lots, Inc.

1,296,562

100.0%

6/30/2040

NAP

1/4/2023

NAP

1/3/2023

NAP

Fee

NAP

6.03

Property

Badcock - LaGrange, GA

0.3%

5.7%

505 Pegasus Parkway

LaGrange

Troup

30240

Industrial

Warehouse / Distribution

2015

NAP

537,855

1,719,529

NAV

95.0%

4,942,062

1,217,397

3,724,665

939

131,531

3,592,195

60,250,000

As Is

1/3/2023

100.0%

2/23/2023

Yes

W.S. Badcock Corporation

537,855

100.0%

6/30/2039

NAP

1/4/2023

NAP

1/3/2023

NAP

Fee

NAP

6.04

Property

Badcock - Mebane, NC

0.2%

4.2%

1017 Corporate Park Drive

Mebane

Alamance

27302

Industrial

Warehouse / Distribution

2004

2019

369,420

1,269,882

NAV

95.0%

3,426,881

692,296

2,734,585

96,520

92,355

2,545,710

44,500,000

As Is

12/22/2022

100.0%

2/23/2023

Yes

W.S. Badcock Corporation

369,420

100.0%

6/30/2039

NAP

1/4/2023

NAP

1/3/2023

NAP

Fee

NAP

6.05

Property

Badcock - Mulberry, FL

0.2%

4.1%

201 Kid Ellis Road

Mulberry

Polk

33860

Industrial

Warehouse / Distribution

1991

2002

371,240

1,237,412

NAV

95.0%

4,248,542

1,346,535

2,902,007

9,357

99,771

2,792,879

43,360,000

As Is

12/27/2022

100.0%

2/23/2023

Yes

W.S. Badcock Corporation

371,240

100.0%

6/30/2039

NAP

1/4/2023

NAP

1/3/2023

NAP

Fee

NAP

6.06

Property

NAICO - Chandler, OK

0.2%

3.9%

1003 Allison Avenue, 1010 Manvel Avenue, 915 Allison Avenue and 1023 Allison Avenue

Chandler

Lincoln

74834

Office

Suburban

1920

2022

158,430

1,176,000

NAV

95.0%

2,831,547

349,923

2,481,624

25,377

83,863

2,372,385

41,200,000

As Is

12/21/2022

100.0%

2/23/2023

Yes

Chandler Insurance Company, LTD.

158,430

100.0%

8/31/2039

NAP

1/4/2023

NAP

1/3/2023

NAP

Fee

NAP

6.07

Property

Save Mart Supermarkets - San Pablo, CA

0.1%

3.3%

13220-13222 San Pablo Avenue

San Pablo

Contra Costa

94806

Retail

Single Tenant

1973

NAP

109,876

993,176

NAV

95.0%

3,025,432

997,395

2,028,038

47,693

72,336

1,908,009

34,800,000

As Is

12/28/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

109,876

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

19%

Fee

NAP

6.08

Property

Nation Safe Driver - Boca Raton, FL

0.1%

3.2%

5600 Broken Sound Boulevard

Boca Raton

Palm Beach

33487

Office

Suburban

1981

2022

139,785

960,706

NAV

95.0%

3,031,951

847,136

2,184,815

72,143

76,384

2,036,287

33,660,000

As Is

12/21/2022

100.0%

2/23/2023

Yes

Nation Motor Club, LLC

139,785

100.0%

12/31/2041

NAP

1/4/2023

NAP

1/3/2023

NAP

Yes - AH

Fee

NAP

6.09

Property

Save Mart Supermarkets - Fresno, CA (4)

0.1%

3.0%

5645-5677 East Kings Canyon Road

Fresno

93727

Retail

Single Tenant

1981

2007, 2008

186,652

907,765

NAV

95.0%

2,524,788

582,437

1,942,351

141,198

70,943

1,730,211

31,800,000

As Is

12/12/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

186,652

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/5/2023

Fee

NAP

6.10

Property

Save Mart Supermarkets - El Cerrito, CA

0.1%

2.5%

1000 El Cerrito Plaza

El Cerrito

Contra Costa

94530

Retail

Single Tenant

2001

NAP

66,778

754,588

NAV

95.0%

1,934,376

467,938

1,466,438

9,886

46,670

1,409,882

26,430,000

As Is

12/22/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

66,778

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

14%

Fee

NAP

6.11

Property

Save Mart Supermarkets - Stockton, CA

0.1%

2.4%

4555 North Pershing Avenue

Stockton

San Joaquin

95207

Retail

Single Tenant

1978

2001

119,916

715,765

NAV

95.0%

1,997,882

494,548

1,503,334

18,521

54,115

1,430,697

25,080,000

As Is

12/26/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

119,916

100.0%

11/30/2044

NAP

1/5/2023

NAP

1/6/2023

1/3/2023

Fee

NAP

6.12

Property

Save Mart Supermarkets - Modesto, CA (4)

0.1%

2.2%

801 Oakdale Road

Modesto

Stanislaus

95355

Retail

Single Tenant

2001

NAP

54,605

655,059

NAV

95.0%

1,517,037

202,957

1,314,080

53,743

39,783

1,220,554

22,960,000

As Is

12/23/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

54,605

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

Fee

NAP

6.13

Property

Save Mart Supermarkets - Grass Valley, CA

0.1%

2.1%

2054 Nevada City Highway

Grass Valley

Nevada

95945

Retail

Single Tenant

1990

NAP

43,737

636,000

NAV

95.0%

1,313,765

187,850

1,125,916

6,871

34,683

1,084,361

22,290,000

As Is

12/18/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

43,737

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

Fee

NAP

6.14

Property

Save Mart Supermarkets - Fresno, CA (5)

0.1%

2.1%

4010, 4040, 4120, 4190 North West Avenue

Fresno

93705

Retail

Single Tenant

1978

1996, 2004, 2015

148,270

631,059

NAV

95.0%

1,716,609

508,675

1,207,934

7,300

50,288

1,150,346

22,100,000

As Is

12/22/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

148,270

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/6/2023

1/3/2023

Fee

NAP

6.15

Property

Save Mart Supermarkets - Ceres, CA

0.1%

1.9%

2920 East Whitmore Avenue

Ceres

Stanislaus

95307

Retail

Single Tenant

1980

2004

116,789

583,765

NAV

95.0%

1,501,265

399,550

1,101,714

19,236

43,164

1,039,314

20,450,000

As Is

12/26/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

116,789

100.0%

11/30/2044

NAP

1/6/2023

NAP

1/6/2023

1/5/2023

Fee

NAP

6.16

Property

Save Mart Supermarkets - Bakersfield, CA

0.1%

1.9%

6465 Niles Street

Bakersfield

Kern

93306

Retail

Single Tenant

1979

NAP

68,337

571,059

NAV

95.0%

1,344,897

243,969

1,100,928

4,214

37,262

1,059,451

20,010,000

As Is

12/20/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

68,337

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

Fee

NAP

6.17

Property

Big Y - Milford, CT

0.1%

1.9%

150 Boston Post Road

Milford

New Haven

06460

Retail

Single Tenant

2019

NAP

55,000

565,412

NAV

95.0%

1,304,431

384,256

920,175

3,571

31,625

884,979

19,800,000

As Is

12/28/2022

100.0%

2/23/2023

Yes

Big Y Foods, Inc.

55,000

100.0%

12/31/2039

NAP

1/6/2023

NAP

1/5/2023

NAP

Fee

NAP

6.18

Property

Save Mart Supermarkets - Sparks, NV (2)

0.1%

1.7%

9750 Pyramid Lakes Highway

Sparks

Washoe

89441

Retail

Single Tenant

1999

2018

52,368

508,941

NAV

95.0%

1,123,695

159,633

964,063

28,043

31,029

904,991

17,830,000

As Is

12/27/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

52,368

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

1/4/2023

11%

Fee

NAP

6.19

Property

Save Mart Supermarkets - Tracy, CA

0.1%

1.7%

875 South Tracy Boulevard

Tracy

San Joaquin

95376

Retail

Single Tenant

1997

NAP

61,660

499,765

NAV

95.0%

1,206,267

280,595

925,672

12,343

31,740

881,590

17,500,000

As Is

12/26/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

61,660

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

Fee

NAP

6.20

Property

Save Mart Supermarkets - Folsom, CA

0.1%

1.6%

1003 East Bidwell

Folsom

Sacramento

95630

Retail

Single Tenant

1990

NAP

49,769

488,471

NAV

95.0%

1,104,967

247,625

857,343

2,321

28,683

826,338

17,110,000

As Is

12/23/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

49,769

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

1/4/2023

Fee

NAP

6.21

Property

Save Mart Supermarkets - Tracy, CA (2)

0.1%

1.6%

2005 North Tracy Boulevard

Tracy

San Joaquin

95376

Retail

Single Tenant

1966

NAP

149,631

478,588

NAV

95.0%

2,866,242

1,205,655

1,660,587

69,558

61,588

1,529,441

16,780,000

As Is

12/26/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

149,631

100.0%

11/30/2044

NAP

1/27/2023

NAP

1/25/2023

15%

Leasehold

12/31/2064

2, 10-year extension options

615,850

NAP

6.22

Property

Save Mart Supermarkets - Napa, CA

0.1%

1.5%

1346 Trancas Street

Napa

94558

Retail

Single Tenant

1969

1989

51,845

435,529

NAV

95.0%

1,268,097

387,038

881,058

27,136

30,282

823,641

15,250,000

As Is

12/26/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

51,845

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

28%

Fee

NAP

6.23

Property

Badcock - Mulberry, FL (4)

0.1%

1.3%

205 Northwest 2nd Street and 308 1st Avenue Northwest

Mulberry

Polk

33860

Industrial

Warehouse / Distribution

1964

1992

184,000

402,353

NAV

95.0%

1,410,198

386,783

1,023,415

53,643

37,124

932,648

14,100,000

As Is

12/27/2022

100.0%

2/23/2023

Yes

W.S. Badcock Corporation

184,000

100.0%

8/31/2039

NAP

1/4/2023

NAP

1/3/2023

NAP

Fee

NAP

6.24

Property

Save Mart Supermarkets - Chico, CA

0.1%

1.3%

146 West East Avenue

Chico

Butte

95926

Retail

Single Tenant

1989

2001

42,294

377,647

NAV

95.0%

882,806

199,684

683,122

23,886

22,647

636,589

13,230,000

As Is

12/27/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

42,294

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

Fee

NAP

6.25

Property

Save Mart Supermarkets - Salinas, CA

0.1%

1.3%

1223 North Davis Road

Salinas

Monterey

93907

Retail

Single Tenant

1998

2012

62,565

376,235

NAV

95.0%

956,143

238,370

717,772

32,500

25,926

659,346

13,170,000

As Is

12/22/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

62,565

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/5/2023

14%

Fee

NAP

6.26

Property

Save Mart Supermarkets - Kingsburg, CA

0.1%

1.2%

909 Sierra Street

Kingsburg

Fresno

93631

Retail

Single Tenant

1999

NAP

41,368

371,294

NAV

95.0%

844,348

169,971

674,377

25,943

22,216

626,218

13,000,000

As Is

12/20/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

41,368

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

1/4/2023

Fee

NAP

6.27

Property

Save Mart Supermarkets - Clovis, CA (3)

0.1%

1.2%

1157 North Willow Avenue

Clovis

Fresno

93611

Retail

Single Tenant

2002

NAP

50,918

368,471

NAV

95.0%

864,984

186,462

678,523

5,686

24,041

648,796

12,900,000

As Is

12/19/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

50,918

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

Fee

NAP

6.28

Property

Save Mart Supermarkets - Clovis, CA (2)

0.1%

1.1%

2179 Shaw Avenue

Clovis

Fresno

93611

Retail

Single Tenant

1984

2002

52,576

342,353

NAV

95.0%

850,673

217,060

633,613

9,643

23,030

600,941

11,990,000

As Is

12/19/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

52,576

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

1/2/2023

Fee

NAP

6.29

Property

Save Mart Supermarkets - Vacaville, CA (2)

0.1%

1.1%

777 East Monte Vista Avenue

Vacaville

Solano

95688

Retail

Single Tenant

1988

NAP

42,630

338,118

NAV

95.0%

804,917

190,091

614,826

26,357

20,850

567,619

11,840,000

As Is

12/22/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

42,630

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

12%

Fee

NAP

6.30

Property

Save Mart Supermarkets - Elk Grove, CA

0.1%

1.1%

9160 Elk Grove Florin Road

Elk Grove

Sacramento

95624

Retail

Single Tenant

1994

NAP

45,642

333,882

NAV

95.0%

792,595

185,557

607,039

25,686

21,037

560,316

11,700,000

As Is

12/22/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

45,642

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

Fee

NAP

6.31

Property

Save Mart Supermarkets - Manteca, CA

0.0%

1.0%

1172 North Main Street

Manteca

San Joaquin

95336

Retail

Single Tenant

1984

NAP

35,312

309,176

NAV

95.0%

790,530

141,588

648,942

31,821

20,617

596,504

10,820,000

As Is

12/26/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

35,312

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

Fee

NAP

6.32

Property

Save Mart Supermarkets - Fresno, CA (3)

0.0%

1.0%

5750 North 1st Street

Fresno

93710

Retail

Single Tenant

1994

NAP

58,360

292,941

NAV

95.0%

764,642

193,732

570,911

39,300

21,375

510,235

10,260,000

As Is

12/22/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

58,360

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/6/2023

1/4/2023

Fee

NAP

6.33

Property

Save Mart Supermarkets - Lodi, CA

0.0%

1.0%

530 West Lodi Avenue

Lodi

San Joaquin

95240

Retail

Single Tenant

1996

NAP

50,342

289,412

NAV

95.0%

715,202

176,982

538,221

35,443

19,596

483,182

10,150,000

As Is

12/22/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

50,342

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

1/4/2023

Fee

NAP

6.34

Property

Save Mart Supermarkets - Sparks, NV

0.0%

0.9%

565 East Prater Way

Sparks

Washoe

89431

Retail

Single Tenant

1993

NAP

47,404

273,882

NAV

95.0%

644,714

141,577

503,137

25,957

18,508

458,673

9,600,000

As Is

12/23/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

47,404

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

10%

Fee

NAP

6.35

Property

Save Mart Supermarkets - Carson City, NV

0.0%

0.9%

3325 US Highway 50

Carson City

89701

Retail

Single Tenant

1995

NAP

52,079

258,353

NAV

95.0%

623,852

148,383

475,469

26,063

18,385

431,021

9,060,000

As Is

12/27/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

52,079

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

13%

Fee

NAP

6.36

Property

Save Mart Supermarkets - Oakland, CA

0.0%

0.8%

4055 MacArthur Boulevard

Oakland

Alameda

94619

Retail

Single Tenant

1965

NAP

21,258

239,294

NAV

95.0%

663,770

252,158

411,612

12,771

14,176

384,665

8,380,000

As Is

12/22/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

21,258

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

27%

Fee

NAP

6.37

Property

Save Mart Supermarkets - Coalinga, CA

0.0%

0.8%

275 East Forest Avenue

Coalinga

Fresno

93210

Retail

Single Tenant

2006

NAP

49,749

231,529

NAV

95.0%

650,625

187,721

462,904

25,211

17,839

419,853

8,100,000

As Is

12/20/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

49,749

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

10%

Fee

NAP

6.38

Property

Save Mart Supermarkets - Marysville, CA

0.0%

0.8%

828 J Street

Marysville

Yuba

95901

Retail

Single Tenant

1973

NAP

30,080

228,706

NAV

95.0%

542,926

128,621

414,305

15,797

14,269

384,239

8,010,000

As Is

12/27/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

30,080

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

10%

Fee

NAP

6.39

Property

Save Mart Supermarkets - Jackson, CA

0.0%

0.7%

11980 State Highway 88

Jackson

Amador

95642

Retail

Single Tenant

1994

NAP

40,593

210,353

NAV

95.0%

546,261

141,071

405,190

22,957

15,193

367,040

7,370,000

As Is

12/24/2022

100.0%

2/23/2023

Yes

Save Mart Supermarkets

40,593

100.0%

11/30/2044

NAP

1/4/2023

NAP

1/3/2023

Fee

NAP

6.40

Property

Badcock - Mulberry, FL (3)

0.0%

0.5%

200 Phosphate Boulevard North

Mulberry

Polk

33860

Office

Suburban

1915

1986

42,750

146,118

NAV

95.0%

497,601

129,587

368,014

2,271

14,963

350,780

5,130,000

As Is

12/27/2022

100.0%

2/23/2023

Yes

W.S. Badcock Corporation

42,750

100.0%

8/31/2039

NAP

1/4/2023

NAP

1/3/2023

NAP

Fee

NAP

6.41

Property

Badcock - Mulberry, FL (2)

0.0%

0.1%

168 Phosphate Boulevard North

Mulberry

Polk

33860

Office

Suburban

1912

1954

8,270

30,353

NAV

95.0%

103,069

31,993

71,076

771

2,895

67,410

1,060,000

As Is

12/27/2022

100.0%

2/23/2023

Yes

W.S. Badcock Corporation

8,270

100.0%

8/31/2039

NAP

1/4/2023

NAP

1/3/2023

NAP

Fee

NAP

6.42

Property

Badcock - Mulberry, FL (5)

0.0%

0.1%

503 Phosphate Boulevard North

Mulberry

Polk

33860

Industrial

Warehouse / Distribution

1978

NAP

9,125

17,647

NAV

95.0%

58,987

17,288

41,699

704

1,654

39,342

620,000

As Is

12/27/2022

100.0%

2/23/2023

Yes

W.S. Badcock Corporation

9,125

100.0%

8/31/2039

NAP

1/4/2023

NAP

1/3/2023

NAP

Fee

NAP

Loan

Harborside 2-3

4.5%

100.0%

CREFI, BMO

NAP

200-210 Hudson Street

Jersey City

Hudson

07311

Office

CBD

1930

2021

1,599,029

140.71

30,000,000

5.84000%

0.01876%

5.82124%

NAP

148,027.78

NAP

1,776,333.36

Interest Only

Actual/360

4/4/2023

5/6/2023

NAP

4/6/2028

L(26),D(27),O(7)

49,314,096

17,827,217

31,486,880

12/31/2022

T-12

47,450,874

18,047,218

29,403,655

12/31/2021

T-12

44,617,062

18,489,525

26,127,537

12/31/2020

T-12

74.5%

51,753,039

18,582,167

33,170,872

319,806

1,387,420

31,463,647

2.49

2.36

14.7%

14.0%

396,000,000

As Is

2/7/2023

56.8%

75.1%

3/22/2023

MUFG Bank Ltd.

137,076

8.6%

8/31/2029

E-Trade Financial Corporation

132,265

8.3%

1/31/2031

Collectors Universe

130,419

8.2%

11/30/2038

Sumitomo Mitsui Banking

111,605

7.0%

12/31/2036

Arch Insurance Company

106,815

6.7%

5/31/2024

3/24/2023

NAP

3/3/2023

NAP

Yes - AE

Fee

NAP

696,822

272,774

136,387

8,000,000

26,650

15,000,000

Springing

15,000,000

40,614,319

Sea Wall Repair Reserve ($25,000,000), Unfunded Obligations Reserve ($14,195,734), Elevator Modernization Reserve ($1,418,585.35)

NAP

Hard

Springing

Yes

30,000,000

195,000,000

962,180.55

1,110,208.33

NAP

225,000,000

1,110,208.33

56.8%

2.36

14.7%

55,000,000

10.50000%

280,000,000

1,598,142.36

70.7%

1.64

11.8%

Yes

Future Mezzanine Loan

Mark Karasick and Michael Silberberg

Yes

Acquisition

225,000,000

119,820,041

74,000,000

49,633,468

468,453,509

377,000,000

26,869,593

64,583,916

468,453,509

NAP

Loan

Cross Island Plaza

4.5%

100.0%

BMO

Group B

NAP

13333 Brookville Boulevard

Rosedale

Queens

11422

Office

CBD

1982

2021

256,930

165.41

30,000,000

6.60500%

0.01876%

6.58624%

NAP

167,418.40

NAP

2,009,020.80

Interest Only

Actual/360

120

119

120

119

5/2/2023

6/6/2023

NAP

5/6/2033

L(25),D(91),O(4)

6,968,773

3,428,484

3,540,289

12/31/2022

T-12

NAV

89.1%

8,112,684

3,515,080

4,597,605

38,540

192,698

4,366,368

1.62

1.53

10.8%

10.3%

75,900,000

As Is

2/20/2023

56.0%

90.7%

3/20/2023

OEC Freight

28,110

10.9%

5/31/2025

Schenker Inc.

16,585

6.5%

3/31/2027

Gregory Spektor

13,989

5.4%

11/30/2032

Kocher & Associates

11,037

4.3%

12/31/2029

DAMCO USA

8,274

3.2%

1/31/2026

2/24/2023

NAP

2/24/2023

NAP

Fee

NAP

657,606

109,601

22,894

7,631

3,212

2,700,000

Springing

500,000

457,600

NAP

Hard

Springing

Yes

30,000,000

12,500,000

69,757.67

237,176.07

NAP

42,500,000

237,176.07

56.0%

1.53

10.8%

NAP

Chaim Simkowitz and Abraham J. Hoffman

Refinance

42,500,000

28,547,718

1,254,006

3,838,100

8,860,177

42,500,000

NAP

Loan

500 Mamaroneck

4.5%

100.0%

BMO

Group B

NAP

500 Mamaroneck Avenue

Harrison

Westchester

10528

Other

Leased Fee

NAP

1,502,820

19.63

29,500,000

6.83000%

0.01876%

6.81124%

NAP

170,236.17

NAP

2,042,834.04

Interest Only

Actual/360

120

118

120

118

4/5/2023

5/6/2023

NAP

4/6/2033

L(26),D(90),O(4)

NAV

100.0%

2,522,053

1.23

8.5%

45,300,000

As Is

2/24/2023

65.1%

NAP

2/24/2023

NAP

2/24/2023

NAP

Fee

NAP

Springing

NAP

Hard

Springing

Yes

NAP

Abraham Hoffman

Acquisition

29,500,000

11,634,728

41,134,728

40,000,000

1,134,728

41,134,728

NAP

Loan

Sayville Plaza

4.2%

100.0%

CREFI

NAP

5151 Sunrise Highway

Bohemia

Suffolk

11716

Retail

Anchored

1969

2021

237,093

118.10

28,000,000

7.65000%

0.01876%

7.63124%

NAP

180,979.17

NAP

2,171,750.04

Interest Only

Actual/360

5/15/2023

7/6/2023

NAP

6/6/2028

L(2),YM1(51),O(7)

NAV

95.0%

4,738,005

1,915,173

2,822,832

34,465

160,837

2,627,530

1.30

1.21

10.9%

10.1%

49,400,000

As Is

3/13/2023

52.6%

96.6%

5/12/2023

At Home

88,728

37.4%

6/30/2032

Floor & Décor

79,607

33.6%

9/30/2036

Jo-Ann Fabrics

31,484

13.3%

1/31/2034

Aldi

21,948

9.3%

8/31/2037

Chick-Fil-A (Ground Lease)

5,226

2.2%

5/31/2043

3/15/2023

NAP

3/15/2023

NAP

Fee

NAP

108,377

158,031

15,803

2,872

828,029

13,403

3,143,565

Pad Holdback Reserve (Upfront: $2,000,000); Landlord Work Reserve (Upfront: $1,143,565)

2,000,000

$2,000,000 deposited into the Pad Holdback Reserve to be distributed to the borrower upon certain conditions in the loan agreement

Hard

Springing

Yes

NAP

Transform Midco LLC

Refinance

28,000,000

2,355,228

30,355,228

24,054,055

2,063,171

4,238,003

30,355,228

NAP

Loan

Jaylor - Burger King Portfolio

4.2%

CREFI

NAP

Various

Retail

Single Tenant

Various

304,641

173.46

28,000,000

27,916,343

12,999,038

6.91000%

0.01876%

6.89124%

250,265.15

NAP

3,003,181.80

NAP

Amortizing Balloon

Actual/360

120

119

180

179

5/2/2023

6/6/2023

5/6/2033

L(25),YM1(88),O(7)

11,724,095

1,089,736

10,634,359

2/28/2023

T-12

11,691,244

1,086,561

10,604,683

12/31/2022

T-12

11,382,597

1,068,229

10,314,368

12/31/2021

T-12

97.0%

11,556,639

1,089,557

10,467,083

305,004

10,162,079

1.84

1.79

19.8%

19.2%

172,275,000

As Is

Various

30.7%

14.3%

100.0%

5/2/2023

Springing

200,000

Springing

Ground Rent Reserve (Upfront: $100,000, Monthly: Springing); Insurance Deductible Reserve (Upfront: $100,000)

NAP

Hard

Springing

Yes

27,916,343

24,925,306

223,451.03

473,716.18

NAP

52,841,649

473,716.18

30.7%

1.79

19.8%

NAP

Matthew Schoenberg

Refinance

53,000,000

46,601,062

5,540,232

200,000

658,706

53,000,000

NAP

11.01

Property

Burger King #04324 - Gulf Shores, AL

0.1%

1.9%

1501 Gulf Shores Parkway

Gulf Shores

Baldwin

36542

Retail

Single Tenant

1984

2017

3,735

520,099

518,545

241,457

NAV

3,200,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,735

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.02

Property

Burger King #04581 - Foley, AL

0.1%

1.8%

910 South McKenzie Street

Foley

Baldwin

36535

Retail

Single Tenant

1985

2018

3,842

511,972

510,442

237,684

NAV

3,150,000

As Is

3/16/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,842

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

Yes

NAP

11.03

Property

Burger King #02957 - Houma, LA

0.1%

1.8%

1033 West Tunnel Boulevard

Houma

Terrebonne

70360

Retail

Single Tenant

1980

NAP

3,048

507,909

506,391

235,797

NAV

3,125,000

As Is

3/18/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,048

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Yes - AH

Fee

NAP

11.04

Property

Burger King #11942 - Gray, LA

0.1%

1.8%

3863 West Park Avenue

Gray

Terrebonne

70359

Retail

Single Tenant

1998

NAP

3,003

491,656

490,187

228,252

NAV

3,025,000

As Is

3/18/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,003

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.05

Property

Burger King #03818 - Mobile, AL

0.1%

1.7%

7775 Moffett Road

Mobile

36618

Retail

Single Tenant

1983

2018

3,398

471,339

469,931

218,820

NAV

2,900,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,398

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.06

Property

Burger King #05255 - Prichard, AL

0.1%

1.6%

2924 Saint Stephens Road

Prichard

Mobile

36612

Retail

Single Tenant

1986

2017

3,489

451,023

449,675

209,388

NAV

2,775,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,489

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.07

Property

Burger King #12830 - Boutte, LA

0.1%

1.6%

14157 U.S. Highway 90

Boutte

Saint Charles

70039

Retail

Single Tenant

1999

2018

3,068

446,960

445,624

207,502

NAV

2,750,000

As Is

3/15/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,068

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Yes - AE

Fee

NAP

11.08

Property

Burger King #03156 - Saraland, AL

0.1%

1.6%

310 Highway 43 North

Saraland

Mobile

36571

Retail

Single Tenant

1981

2018

3,244

434,770

433,471

201,842

NAV

2,675,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,244

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.09

Property

Burger King #11614 - Harvey, LA

0.1%

1.5%

1840 Lapalco Boulevard

Harvey

Jefferson

70058

Retail

Single Tenant

1998

2018

2,987

422,580

421,318

196,183

NAV

2,600,000

As Is

3/15/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,987

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Yes - AE

Fee

NAP

11.11

Property

Burger King #04130 - Vicksburg, MS

0.1%

1.5%

3121 Halls Ferry Road

Vicksburg

Warren

39180

Retail

Single Tenant

2005

2020

2,756

418,517

417,267

194,297

NAV

2,575,000

As Is

3/10/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,756

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee / Leasehold

8/14/2033

None

Yes

NAP

11.10

Property

Burger King #09004 - Diamondhead, MS

0.1%

1.5%

5400 West Aloha Drive

Diamondhead

Hancock

39525

Retail

Single Tenant

1995

2018

2,920

418,517

417,267

194,297

NAV

2,575,000

As Is

3/21/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,920

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.12

Property

Burger King #09708 - Natchez, MS

0.1%

1.5%

421 Highway 61 North

Natchez

Adams

39120

Retail

Single Tenant

1996

2015

2,892

410,390

409,164

190,524

NAV

2,525,000

As Is

3/10/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,892

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.13

Property

Burger King #09270 - Robertsdale, AL

0.1%

1.5%

21890 State Highway 59 South

Robertsdale

Baldwin

36567

Retail

Single Tenant

1995

2016

2,545

406,327

405,113

188,638

NAV

2,500,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,545

100.0%

6/5/2034

NAP

3/24/2023

NAP

3/29/2023

NAP

Fee

NAP

11.14

Property

Burger King #02643 - Gladstone, MO

0.1%

1.4%

6001 Northeast Antioch Road

Gladstone

Clay

64119

Retail

Single Tenant

1979

NAP

3,923

390,074

388,908

181,092

NAV

2,400,000

As Is

3/21/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,923

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.15

Property

Burger King #01207 - West Monroe, LA

0.1%

1.4%

100 Thomas Road

West Monroe

Ouachita

71291

Retail

Single Tenant

1973

NAP

2,992

381,947

380,806

177,320

NAV

2,350,000

As Is

3/18/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,992

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.16

Property

Burger King #12007 - Denham Springs, LA

0.1%

1.3%

31706 Louisiana Highway 16

Denham Springs

Livingston

70726

Retail

Single Tenant

1998

2017

2,969

377,884

376,755

175,433

NAV

2,325,000

As Is

3/19/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,969

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Leasehold

5/31/2028

8, 5-year extension options

44,800

NAP

11.19

Property

Burger King #06129 - Mobile, AL

0.1%

1.3%

3200 Spring Hill Avenue

Mobile

36607

Retail

Single Tenant

1988

2018

2,694

373,821

372,704

173,547

NAV

2,300,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,694

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.18

Property

Burger King #06788 - Zachary, LA

0.1%

1.3%

5131 Main Street

Zachary

East Baton Rouge

70791

Retail

Single Tenant

1990

2015

2,885

373,821

372,704

173,547

NAV

2,300,000

As Is

3/19/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,885

100.0%

6/5/2034

NAP

3/28/2023

NAP

3/29/2023

NAP

Fee

NAP

11.17

Property

Burger King #10802 - Westwego, LA

0.1%

1.3%

500 Westbank Expressway

Westwego

Jefferson

70094

Retail

Single Tenant

1997

2018

2,982

373,821

372,704

173,547

NAV

2,300,000

As Is

3/15/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,982

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Yes - AE

Fee

NAP

11.20

Property

Burger King #09788 - Walker, LA

0.1%

1.3%

27931 Walker Road South

Walker

Livingston

70785

Retail

Single Tenant

1996

2015

2,987

369,757

368,653

171,660

NAV

2,275,000

As Is

3/19/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,987

100.0%

6/5/2034

NAP

3/28/2023

NAP

3/29/2023

NAP

Yes - AE

Fee

NAP

Yes

NAP

11.21

Property

Burger King #09838 - Fairhope, AL

0.1%

1.3%

19755 Greeno Road

Fairhope

Baldwin

36532

Retail

Single Tenant

1996

2020

2,935

365,694

364,602

169,774

NAV

2,250,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,935

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.22

Property

Burger King #01198 - Mobile, AL

0.1%

1.3%

3875 Airport Boulevard

Mobile

36608

Retail

Single Tenant

1973

2018

3,807

357,568

356,500

166,001

NAV

2,200,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,807

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.23

Property

Burger King #10764 - Morgan City, LA

0.1%

1.3%

937 Highway 90 East

Morgan City

Saint Mary

70380

Retail

Single Tenant

1997

NAP

2,990

357,568

356,500

166,001

NAV

2,200,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,990

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.24

Property

Burger King #01465 - Laurel, MS

0.1%

1.3%

319 Leontyne Price Boulevard

Laurel

Jones

39440

Retail

Single Tenant

1974

2017

2,966

353,505

352,449

164,115

NAV

2,175,000

As Is

3/21/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,966

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

Yes

NAP

11.25

Property

Burger King #07930 - Long Beach, MS

0.1%

1.3%

310 East Beach Boulevard

Long Beach

Harrison

39560

Retail

Single Tenant

2007

2018

2,918

353,505

352,449

164,115

NAV

2,175,000

As Is

3/21/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,918

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Yes - VE

Fee

NAP

11.26

Property

Burger King #05029 - Pineville, LA

0.1%

1.2%

3301 Monroe Highway

Pineville

Rapides

71360

Retail

Single Tenant

1986

NAP

3,489

349,441

348,397

162,228

NAV

2,150,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,489

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

Yes

NAP

11.27

Property

Burger King #12633 - Port Allen, LA

0.1%

1.2%

4383 Louisiana 1 South

Port Allen

West Baton Rouge

70767

Retail

Single Tenant

1999

2018

3,063

349,441

348,397

162,228

NAV

2,150,000

As Is

3/18/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,063

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.29

Property

Burger King #01437 - Monroe, LA

0.1%

1.2%

1710 Martin Luther King Drive

Monroe

Ouachita

71202

Retail

Single Tenant

1974

NAP

2,944

345,378

344,346

160,342

NAV

2,125,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,944

100.0%

6/5/2034

NAP

3/31/2023

NAP

3/29/2023

NAP

Yes - AE

Fee

NAP

11.28

Property

Burger King #01439 - Slidell, LA

0.1%

1.2%

185 Gause Boulevard

Slidell

Saint Tammany

70458

Retail

Single Tenant

1974

2018

3,423

345,378

344,346

160,342

NAV

2,125,000

As Is

3/19/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,423

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Yes - AE

Fee

NAP

11.30

Property

Burger King #07467 - Ruston, LA

0.1%

1.2%

1401 North Trenton Street

Ruston

Lincoln

71270

Retail

Single Tenant

1992

NAP

2,915

345,378

344,346

160,342

NAV

2,125,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,915

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee / Leasehold

6/5/2029

4, 5-year extension options

7,390

Yes

NAP

11.31

Property

Burger King #12895 - Delhi, LA

0.1%

1.2%

1007 Broadway Street

Delhi

Richland

71232

Retail

Single Tenant

1999

NAP

3,073

345,377

344,345

160,342

NAV

2,125,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,073

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.32

Property

Burger King #04914 - Pensacola, FL

0.1%

1.2%

13392 Perdido Key Drive

Pensacola

Escambia

32507

Retail

Single Tenant

1985

2022

4,098

337,252

336,244

156,569

NAV

2,075,000

As Is

3/12/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

4,098

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.33

Property

Burger King #01425 - New Iberia, LA

0.0%

1.2%

1419 Center Street

New Iberia

Iberia

70560

Retail

Single Tenant

1996

NAP

3,100

325,062

324,090

150,910

NAV

2,000,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,100

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.34

Property

Burger King #05035 - Tuscaloosa, AL

0.0%

1.1%

2515 Stillman Boulevard

Tuscaloosa

35401

Retail

Single Tenant

1986

2017

4,182

320,998

320,039

149,024

NAV

1,975,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

4,182

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

Yes

NAP

11.38

Property

Burger King #06149 - New Iberia, LA

0.0%

1.1%

1100 Parkview Drive

New Iberia

Iberia

70563

Retail

Single Tenant

1988

NAP

2,720

308,809

307,886

143,365

NAV

1,900,000

As Is

3/27/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,720

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.37

Property

Burger King #06676 - Jackson, MS

0.0%

1.1%

1470 Canton Mart Road

Jackson

Hinds

39211

Retail

Single Tenant

1990

2018

2,814

308,809

307,886

143,365

NAV

1,900,000

As Is

3/9/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,814

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.35

Property

Burger King #06783 - Baton Rouge, LA

0.0%

1.1%

5119 Jones Creek Road

Baton Rouge

East Baton Rouge

70817

Retail

Single Tenant

1990

2019

2,881

308,809

307,886

143,365

NAV

1,900,000

As Is

3/19/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,881

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.36

Property

Burger King #10763 - Hammond, LA

0.0%

1.1%

46020 North Puma Drive

Hammond

Tangipahoa

70401

Retail

Single Tenant

1997

2018

2,867

308,809

307,886

143,365

NAV

1,900,000

As Is

3/18/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,867

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.39

Property

Burger King #01489 - Mobile, AL

0.0%

1.1%

5380 Highway 90 West

Mobile

36619

Retail

Single Tenant

1984

2015

3,489

296,619

295,733

137,706

NAV

1,825,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,489

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.40

Property

Burger King #12661 - Baton Rouge, LA

0.0%

1.1%

3530 Harding Boulevard

Baton Rouge

East Baton Rouge

70807

Retail

Single Tenant

1999

2019

3,056

296,619

295,733

137,706

NAV

1,825,000

As Is

3/19/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,056

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

Yes

NAP

11.42

Property

Burger King #10762 - Geismar, LA

0.0%

1.0%

13455 Highway 73

Geismar

Ascension

70734

Retail

Single Tenant

1996

2018

2,898

292,556

291,682

135,819

NAV

1,800,000

As Is

3/18/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,898

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

��

NAP

11.41

Property

Burger King #06906 - Warrensburg, MO

0.0%

1.0%

215 East Young Avenue

Warrensburg

Johnson

64093

Retail

Single Tenant

1990

NAP

3,000

292,556

291,682

135,819

NAV

1,800,000

As Is

3/22/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,000

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

Yes

NAP

11.46

Property

Burger King #09686 - Thomasville, AL

0.0%

1.0%

34355 Highway 43

Thomasville

Clarke

36784

Retail

Single Tenant

1996

2017

2,905

288,492

287,631

133,933

NAV

1,775,000

As Is

3/17/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,905

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.45

Property

Burger King #10572 - Eunice, LA

0.0%

1.0%

2300 West Laurel Avenue

Eunice

Saint Landry

70535

Retail

Single Tenant

1997

NAP

2,998

288,492

287,631

133,933

NAV

1,775,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,998

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Leasehold

9/30/2027

2, 5-year extension options

36,075

NAP

11.44

Property

Burger King #12329 - Rayne, LA

0.0%

1.0%

1021 Church Point Highway

Rayne

Acadia

70578

Retail

Single Tenant

2000

NAP

3,200

288,492

287,631

133,933

NAV

1,775,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,200

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.43

Property

Burger King #13080 - Slidell, LA

0.0%

1.0%

120 Brownswitch Road

Slidell

Saint Tammany

70458

Retail

Single Tenant

2000

2020

3,939

288,492

287,631

133,933

NAV

1,775,000

As Is

3/19/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,939

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Yes - A1

Fee

NAP

11.47

Property

Burger King #02483 - Mobile, AL

0.0%

1.0%

7701 Airport Boulevard

Mobile

36608

Retail

Single Tenant

1980

2019

3,722

284,429

283,579

132,046

NAV

1,750,000

As Is

3/16/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,722

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.49

Property

Burger King #09026 - Laurel, MS

0.0%

1.0%

2130 Highway 15 North

Laurel

Jones

39440

Retail

Single Tenant

1995

2017

2,554

284,429

283,579

132,046

NAV

1,750,000

As Is

3/21/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,554

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.48

Property

Burger King #11544 - Westlake, LA

0.0%

1.0%

801 Sampson Street

Westlake

Calcasieu

70669

Retail

Single Tenant

1998

2017

2,974

284,429

283,579

132,046

NAV

1,750,000

As Is

3/16/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,974

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.52

Property

Burger King #03623 - Covington, LA

0.0%

1.0%

605 North Highway 190

Covington

Saint Tammany

70433

Retail

Single Tenant

1983

2014

2,430

276,302

275,477

128,274

NAV

1,700,000

As Is

3/18/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,430

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.51

Property

Burger King #11715 - Ville Platte, LA

0.0%

1.0%

1212 East Main Street

Ville Platte

Evangeline

70586

Retail

Single Tenant

1998

NAP

2,998

276,302

275,477

128,274

NAV

1,700,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,998

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.50

Property

Burger King #12313 - Roeland Park, KS

0.0%

1.0%

4811 Roe Boulevard

Roeland Park

Johnson

66205

Retail

Single Tenant

1999

NAP

4,018

276,302

275,477

128,274

NAV

1,700,000

As Is

3/22/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

4,018

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.54

Property

Burger King #06674 - Slidell, LA

0.0%

1.0%

141 Northshore Boulevard

Slidell

Saint Tammany

70460

Retail

Single Tenant

1990

NAP

2,905

272,239

271,426

126,387

NAV

1,675,000

As Is

3/19/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,905

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Yes - AE

Fee

NAP

11.53

Property

Burger King #09692 - Greenwell Springs, LA

0.0%

1.0%

14280 Greenwell Springs Road

Greenwell Springs

East Baton Rouge

70739

Retail

Single Tenant

1996

2017

3,114

272,239

271,426

126,387

NAV

1,675,000

As Is

3/19/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,114

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.55

Property

Burger King #01428 - Sulphur, LA

0.0%

1.0%

2017 Ruth Street

Sulphur

Calcasieu

70663

Retail

Single Tenant

2011

NAP

2,957

268,176

267,375

124,501

NAV

1,650,000

As Is

3/16/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,957

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.56

Property

Burger King #05981 - Meridian, MS

0.0%

0.9%

2100 North Frontage Road

Meridian

Lauderdale

39301

Retail

Single Tenant

1988

2014

2,662

260,049

259,272

120,728

NAV

1,600,000

As Is

3/17/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,662

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

Yes

NAP

11.58

Property

Burger King #08645 - Pace, FL

0.0%

0.9%

4120 Highway 90

Pace

Santa Rosa

32571

Retail

Single Tenant

1994

2020

2,475

260,049

259,272

120,728

NAV

1,600,000

As Is

3/12/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,475

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.57

Property

Burger King #09213 - Pensacola, FL

0.0%

0.9%

3210 West Michigan Avenue

Pensacola

Escambia

32526

Retail

Single Tenant

1996

2020

2,613

260,049

259,272

120,728

NAV

1,600,000

As Is

3/12/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,613

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Yes - A

Fee

NAP

11.62

Property

Burger King #03585 - Daphne, AL

0.0%

0.9%

29295 US Highway 98

Daphne

Baldwin

36526

Retail

Single Tenant

1983

2019

2,799

251,923

251,170

116,956

NAV

1,550,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,799

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Yes - AE

Fee

NAP

11.61

Property

Burger King #12322 - Oakdale, LA

0.0%

0.9%

695 U.S. Highway 165 South

Oakdale

Allen

71463

Retail

Single Tenant

1999

NAP

2,967

251,923

251,170

116,956

NAV

1,550,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,967

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.60

Property

Burger King #04330 - Kansas City, MO

0.0%

0.9%

340 West 72nd Street

Kansas City

Jackson

64114

Retail

Single Tenant

1985

NAP

3,011

251,923

251,170

116,956

NAV

1,550,000

As Is

3/22/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,011

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.59

Property

Burger King #02831 - Olathe, KS

0.0%

0.9%

2004 East Santa Fe Street

Olathe

Johnson

66062

Retail

Single Tenant

1976

NAP

4,757

251,923

251,170

116,956

NAV

1,550,000

As Is

3/22/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

4,757

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.63

Property

Burger King #06916 - Kenner, LA

0.0%

0.9%

1000 West Esplanade Avenue

Kenner

Jefferson

70065

Retail

Single Tenant

1990

2018

3,008

247,860

247,119

115,069

NAV

1,525,000

As Is

3/15/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,008

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.65

Property

Burger King #09115 - Meridian, MS

0.0%

0.9%

4825 8th Street

Meridian

Lauderdale

39307

Retail

Single Tenant

1995

2015

2,391

247,860

247,119

115,069

NAV

1,525,000

As Is

3/17/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,391

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

Yes

NAP

11.64

Property

Burger King #11694 - DeQuincy, LA

0.0%

0.9%

901 East Fourth Street

DeQuincy

Calcasieu

70633

Retail

Single Tenant

1998

2017

2,986

247,860

247,119

115,069

NAV

1,525,000

As Is

3/16/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,986

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.66

Property

Burger King #00373 - Mobile, AL

0.0%

0.9%

3946 Government Boulevard

Mobile

36693

Retail

Single Tenant

1967

2012

2,421

243,796

243,068

113,183

NAV

1,500,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,421

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.67

Property

Burger King #01617 - Lake Charles, LA

0.0%

0.9%

1211 Martin Luther King Highway

Lake Charles

Calcasieu

70601

Retail

Single Tenant

1976

2017

3,194

239,733

239,017

111,296

NAV

1,475,000

As Is

3/16/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,194

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.68

Property

Burger King #01917 - Vidalia, LA

0.0%

0.9%

1115 Carter Street

Vidalia

Concordia

71373

Retail

Single Tenant

1977

NAP

2,913

239,733

239,017

111,296

NAV

1,475,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,913

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.69

Property

Burger King #12264 - Mission, KS

0.0%

0.8%

6880 Johnson Drive

Mission

Johnson

66202

Retail

Single Tenant

1999

NAP

4,001

235,670

234,966

109,410

NAV

1,450,000

As Is

3/22/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

4,001

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.70

Property

Burger King #09804 - Gonzales, LA

0.0%

0.8%

404 North Airline Highway

Gonzales

Ascension

70737

Retail

Single Tenant

1996

2015

2,987

231,606

230,915

107,524

NAV

1,425,000

As Is

3/18/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,987

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.71

Property

Burger King #11095 - Tuscaloosa, AL

0.0%

0.8%

4900 Skyland Boulevard East

Tuscaloosa

35405

Retail

Single Tenant

1998

NAP

2,932

231,606

230,915

107,524

NAV

1,425,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,932

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

Yes

NAP

11.72

Property

Burger King #09259 - Gulf Breeze, FL

0.0%

0.8%

3380 Gulf Breeze Parkway

Gulf Breeze

Santa Rosa

32563

Retail

Single Tenant

1995

NAP

2,621

223,480

222,812

103,751

NAV

1,375,000

As Is

3/12/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,621

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.73

Property

Burger King #00144 - Baton Rouge, LA

0.0%

0.8%

4951 Florida Boulevard

Baton Rouge

East Baton Rouge

70806

Retail

Single Tenant

1964

2015

3,240

219,418

218,762

101,865

NAV

1,350,000

As Is

3/22/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,240

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.75

Property

Burger King #06488 - Mobile, AL

0.0%

0.8%

6403 Cottage Hill Road

Mobile

36695

Retail

Single Tenant

1989

NAP

2,795

219,416

218,761

101,864

NAV

1,350,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,795

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.74

Property

Burger King #12597 - Lake Charles, LA

0.0%

0.8%

279 Sam Houston Jones Parkway

Lake Charles

Calcasieu

70611

Retail

Single Tenant

1999

2017

3,073

219,416

218,761

101,864

NAV

1,350,000

As Is

3/16/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,073

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.76

Property

Burger King #00211 - Baton Rouge, LA

0.0%

0.8%

3100 Highland Road

Baton Rouge

East Baton Rouge

70802

Retail

Single Tenant

1996

2018

2,980

211,290

210,659

98,092

NAV

1,300,000

As Is

3/18/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,980

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Yes - AE

Fee

NAP

11.77

Property

Burger King #01337 - Metairie, LA

0.0%

0.8%

8101 Airline Drive

Metairie

Jefferson

70003

Retail

Single Tenant

1974

2018

2,970

211,290

210,659

98,092

NAV

1,300,000

As Is

3/15/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,970

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.78

Property

Burger King #04016 - Mobile, AL

0.0%

0.7%

3004 Airport Boulevard

Mobile

36606

Retail

Single Tenant

1984

2016

4,134

207,227

206,608

96,205

NAV

1,275,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

4,134

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

Yes

NAP

11.79

Property

Burger King #10607 - Houma, LA

0.0%

0.7%

1637 Martin Luther King Jr Boulevard

Houma

Terrebonne

70360

Retail

Single Tenant

1997

2018

2,975

199,100

198,505

92,432

NAV

1,225,000

As Is

3/18/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,975

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee / Leasehold

9/24/2027

2, 5-year extension options

72,473

NAP

11.80

Property

Burger King #10800 - Livingston, AL

0.0%

0.7%

639 Highway 28

Livingston

Sumter

35470

Retail

Single Tenant

1998

NAP

2,921

199,100

198,505

92,432

NAV

1,225,000

As Is

3/17/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,921

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

Yes

NAP

11.82

Property

Burger King #09958 - Grove Hill, AL

0.0%

0.7%

198 South Jackson Street

Grove Hill

Clarke

36451

Retail

Single Tenant

1996

2017

2,399

195,037

194,454

90,546

NAV

1,200,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,399

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.81

Property

Burger King #12820 - Iowa, LA

0.0%

0.7%

1111 Lowe Grout Road

Iowa

Calcasieu

70647

Retail

Single Tenant

1999

2017

3,073

195,037

194,454

90,546

NAV

1,200,000

As Is

3/16/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,073

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.83

Property

Burger King #01149 - Baton Rouge, LA

0.0%

0.7%

6244 Airline Highway

Baton Rouge

East Baton Rouge

70805

Retail

Single Tenant

1972

2018

2,625

190,974

190,403

88,660

NAV

1,175,000

As Is

3/19/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,625

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.84

Property

Burger King #06325 - Baton Rouge, LA

0.0%

0.6%

7004 Siegen Lane

Baton Rouge

East Baton Rouge

70809

Retail

Single Tenant

1989

2017

3,047

178,784

178,250

83,001

NAV

1,100,000

As Is

3/18/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,047

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.88

Property

Burger King #06048 - Tuscaloosa, AL

0.0%

0.6%

1601 McFarland Boulevard North

Tuscaloosa

35406

Retail

Single Tenant

1988

NAP

2,585

170,657

170,147

79,228

NAV

1,050,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,585

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.86

Property

Burger King #11979 - Monroe, LA

0.0%

0.6%

5151 Forsythe Bypass

Monroe

Ouachita

71201

Retail

Single Tenant

1998

NAP

3,014

170,657

170,147

79,228

NAV

1,050,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,014

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Yes - AE

Fee

NAP

11.85

Property

Burger King #13081 - New Iberia, LA

0.0%

0.6%

2919 South Lewis Street

New Iberia

Iberia

70560

Retail

Single Tenant

2000

NAP

3,500

170,657

170,147

79,228

NAV

1,050,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,500

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Leasehold

3/28/2025

3, 5-year extension options

52,272

NAP

11.87

Property

Burger King #03685 - Kansas City, MO

0.0%

0.6%

3441 Main Street

Kansas City

Jackson

64111

Retail

Single Tenant

1983

NAP

2,695

170,657

170,147

79,228

NAV

1,050,000

As Is

3/22/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,695

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.89

Property

Burger King #06105 - Northport, AL

0.0%

0.6%

3820 McFarland Boulevard West

Northport

Tuscaloosa

35476

Retail

Single Tenant

1988

NAP

2,636

166,594

166,096

77,342

NAV

1,025,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,636

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.90

Property

Burger King #12919 - Covington, LA

0.0%

0.6%

1005 Ronald Reagan Highway

Covington

Saint Tammany

70433

Retail

Single Tenant

1999

2020

3,920

162,531

162,045

75,455

NAV

1,000,000

As Is

3/19/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,920

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Leasehold

12/22/2024

3, 5-year extension options

53,572

NAP

11.92

Property

Burger King #09853 - Franklin, LA

0.0%

0.6%

1825 Main Street

Franklin

Saint Mary

70538

Retail

Single Tenant

1996

NAP

2,990

158,467

157,994

73,569

NAV

975,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,990

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Yes - AE

Fee

NAP

11.91

Property

Burger King #12660 - Vinton, LA

0.0%

0.6%

1807 West Street

Vinton

Calcasieu

70668

Retail

Single Tenant

1999

2017

3,073

158,467

157,994

73,569

NAV

975,000

As Is

3/16/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,073

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee

NAP

11.93

Property

Burger King #00360 - New Orleans, LA

0.0%

0.5%

1700 Saint Charles Avenue

New Orleans

Orleans

70130

Retail

Single Tenant

1968

2022

2,654

142,215

141,790

66,023

NAV

875,000

As Is

3/15/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,654

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Leasehold

2/29/2024

3, 5-year extension options

50,650

NAP

11.94

Property

Burger King #12753 - Slidell, LA

0.0%

0.4%

3114 Pontchartrain Drive

Slidell

Saint Tammany

70458

Retail

Single Tenant

1999

NAP

2,635

121,898

121,534

56,591

NAV

750,000

As Is

3/19/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,635

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Yes - AE

Leasehold

8/31/2024

3, 5-year extension options

58,564

NAP

11.95

Property

Burger King #01315 - Alexandria, LA

0.0%

0.4%

3705 South MacArthur Drive

Alexandria

Rapides

71302

Retail

Single Tenant

1974

NAP

3,206

105,645

105,329

49,046

NAV

650,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,206

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee / Leasehold

5/2/2024

3, 5-year extension options

40,674

Yes

NAP

11.96

Property

Burger King #12752 - Lafayette, LA

0.0%

0.3%

1726 North University Avenue

Lafayette

70507

Retail

Single Tenant

1999

NAP

2,850

73,139

72,920

33,955

NAV

450,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,850

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Leasehold

9/23/2024

3, 5-year extension options

43,560

Yes

NAP

11.98

Property

Burger King #01537 - Lafayette, LA

0.0%

0.2%

312 Jefferson Boulevard

Lafayette

70501

Retail

Single Tenant

1975

NAP

3,200

69,075

68,869

32,068

NAV

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,200

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee / Leasehold

3/24/2025

4, 5-year extension options

64,902

Yes

NAP

11.97

Property

Burger King #11488 - Lafayette, LA

0.0%

0.2%

2256 Ambassador Caffery Parkway

Lafayette

70506

Retail

Single Tenant

1998

NAP

3,358

69,075

68,869

32,068

NAV

425,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

3,358

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Yes - A

Leasehold

4/15/2028

4, 5-year extension options and 1, 6-year extension option

70,862

NAP

11.99

Property

Burger King #00501 - Lafayette, LA

0.0%

1500 Johnston Street

Lafayette

70503

Retail

Single Tenant

1988

NAP

2,654

NAV

425,000

As Is

3/20/2023

100.0%

5/2/2023

Yes

GPS Hospitality Partners IV, LLC

2,654

100.0%

6/5/2034

NAP

3/29/2023

NAP

3/29/2023

NAP

Fee / Leasehold

6/5/2024

1, 5-year extension option

29,296

NAP

Loan

Montreal Beach Resort

4.0%

100.0%

BSPRT

NAP

1025 Beach Avenue

Cape May

08204

Hospitality

Full Service

1966

2022

Rooms

375,000.00

26,250,000

23,609,376

7.50000%

0.01876%

7.48124%

183,543.81

166,341.15

2,202,525.72

1,996,093.80

Interest Only, Amortizing Balloon

Actual/360

120

360

5/12/2023

7/6/2023

7/6/2024

6/6/2033

L(24),D(92),O(4)

10,604,700

6,063,663

4,541,037

4/30/2023

T-12

10,484,552

6,055,796

4,428,756

12/31/2022

T-12

9,465,978

6,865,121

2,600,857

11/30/2021

T-11

54.4%

10,604,700

6,299,852

4,304,848

424,188

3,880,660

1.95

1.76

16.4%

14.8%

42,500,000

As Is

1/3/2023

61.8%

55.6%

54.4%

4/30/2023

NAP

1/6/2023

NAP

1/6/2023

NAP

Yes - AE

Fee

NAP

17,875

8,937

180,905

41,896

35,349

Springing

Seasonality Reserve

1,650,000

NAP

Springing

Yes

NAP

Daniel T. Alicea

Refinance

26,250,000

99,054

26,349,054

25,500,000

650,274

198,780

26,349,054

NAP

359.87

195.79

54.4%

365.08

198.62

54.4%

370.10

194.42

52.5%

342.30

178.00

52.0%

Loan

Philadelphia Life Science Portfolio

3.5%

KeyBank

Group A

NAP

Various

Philadelphia

Various

Industrial

Various

NAP

301,344

76.32

23,000,000

6.16000%

0.02751%

6.13249%

NAP

119,706.48

NAP

1,436,477.76

Interest Only

Actual/360

120

119

120

119

4/12/2023

6/1/2023

NAP

5/1/2033

L(25),D(92),O(3)

NAV

95.0%

4,050,644

1,077,649

2,972,995

40,269

150,940

2,781,786

2.07

1.94

12.9%

12.1%

55,800,000

As Is

1/18/2023

41.2%

100.0%

4/12/2023

Springing

200,000

Springing

200,000

600,000

Springing

2,025,586

NAP

Hard

In Place

Yes

NAP

NexPoint Real Estate Advisors, L.P.

The Dugaboy Investment Trust

Yes

Refinance

23,000,000

11,380,509

34,380,509

27,011,855

4,543,067

2,825,586

34,380,509

NAP

13.01

Property

Adare Dungan

1.9%

53.7%

7700-7744 Dungan Road

Philadelphia

19111

Industrial

Warehouse / Distribution

1960

NAP

172,107

12,342,051

NAV

94.8%

2,202,733

635,699

1,567,034

24,422

90,474

1,452,138

29,942,889

As Is

1/18/2023

100.0%

4/12/2023

Yes

Adare Pharma Solutions (fka Frontida Biopharm LLC)

172,107

100.0%

1/31/2043

NAP

12/2/2022

NAP

12/15/2022

NAP

Fee

NAP

13.02

Property

Adare Orthodox

1.6%

46.3%

1040-1098, 1100, 1120 and 1170 Orthodox Street

Philadelphia

19124

Industrial

R&D

1960, 1962, 1993

NAP

129,237

10,657,949

NAV

95.3%

1,847,911

441,950

1,405,961

15,847

60,466

1,329,648

25,857,111

As Is

1/18/2023

100.0%

4/12/2023

Yes

Adare Pharma Solutions (fka Frontida Biopharm LLC)

129,237

100.0%

1/31/2043

NAP

12/8/2022

NAP

12/15/2022

NAP

Fee

NAP

Loan

Orizon Aerostructures

3.4%

BMO

NAP

Various

Industrial

Manufacturing

Various

785,000

77.83

22,595,000

6.80500%

0.01876%

6.78624%

NAP

129,912.10

NAP

1,558,945.20

Interest Only

Actual/360

120

114

120

114

11/15/2022

1/6/2023

NAP

12/6/2032

L(30),DorYM1(85),O(5)

NAV

95.0%

7,718,750

1.83

12.6%

125,000,000

As Portfolio

10/17/2022

48.9%

100.0%

11/15/2022

Springing

NAP

Hard

In Place

Yes

22,595,000

38,500,000

221,359.40

351,271.50

NAP

61,095,000

351,271.50

48.9%

1.83

12.6%

NAP

LCN North American Fund III, L.P.

LCN North American Fund III REIT

Acquisition

61,095,000

61,801,361

122,896,361

122,180,000

716,361

122,896,361

NAP

14.01

Property

2522 and 2526 W. 21st Street, Chanute, KS

1.3%

38.5%

2522 West 21st Street

Chanute

Neosho

66720

Industrial

Manufacturing

1992, 2017, 2020

NAP

300,000

8,695,982

NAV

47,800,000

As Is

10/17/2022

100.0%

11/15/2022

Yes

Orizon Aerostructures, LLC

300,000

100.0%

12/31/2047

NAP

8/23/2022

NAP

8/23/2022

NAP

Fee

NAP

14.02

Property

500 Industrial Road A, Grove, OK

1.0%

28.2%

500 Industrial Road A

Grove

Delaware

74344

Industrial

Manufacturing

1969, 2001, 2011, 2014

2012, 2017, 2018

220,000

6,367,351

NAV

35,000,000

As Is

10/17/2022

100.0%

11/15/2022

Yes

Orizon Aerostructures, LLC

220,000

100.0%

12/31/2047

NAP

8/23/2022

NAP

8/23/2022

NAP

Fee

NAP

14.03

Property

801 W. Old 56 Hwy, Olathe, KS

0.9%

26.2%

801 West Old 56 Highway

Olathe

Johnson

66061

Industrial

Manufacturing

2016

NAP

205,000

5,930,733

NAV

32,600,000

As Is

10/17/2022

100.0%

11/15/2022

Yes

Orizon Aerostructures, LLC

205,000

100.0%

12/31/2047

NAP

8/23/2022

NAP

8/23/2022

NAP

Fee

NAP

14.04

Property

615 W. Cherry Street, Chanute, KS

0.2%

7.1%

615 West Cherry Street

Chanute

Neosho

66720

Industrial

Manufacturing

1968, 1984, 1995

2023

60,000

1,600,934

NAV

9,550,000

As Is

10/17/2022

100.0%

11/15/2022

Yes

Orizon Aerostructures, LLC

60,000

100.0%

12/31/2047

NAP

8/24/2022

NAP

8/24/2022

NAP

Fee

NAP

Loan

GRM Indianapolis

2.6%

100.0%

SMC

NAP

2002 South East Street

Indianapolis

Marion

46225

Industrial

Warehouse / Distribution

1940

1989

394,570

43.08

17,000,000

6.26000%

0.01876%

6.24124%

NAP

89,915.05

NAP

1,078,980.56

Interest Only

Actual/360

4/28/2023

6/6/2023

NAP

5/6/2028

L(25),D(29),O(6)

901,513

113,674

787,839

2/28/2023

T-12

900,631

109,351

791,280

12/31/2022

T-12

886,455

115,492

770,963

12/31/2021

T-12

95.0%

2,411,860

368,832

2,043,028

59,186

106,900

1,876,942

1.89

1.74

12.0%

11.0%

30,100,000

As Is

3/29/2023

56.5%

100.0%

4/28/2023

Yes

GRM Lease Holding, LLC

394,570

100.0%

5/31/2038

NAP

4/5/2023

NAP

4/5/2023

NAP

Fee

NAP

4,735

Springing

4,932

289,944

Springing

Major Tenant Reserve

NAP

Hard

Springing

Yes

NAP

Moishe Mana

Refinance

17,000,000

4,675,475

1,779,406

294,679

10,250,440

17,000,000

NAP

Loan

The Penleigh

2.4%

100.0%

BSPRT

NAP

300 North Francis Street

Branson

Taney

65616

Multifamily

Garden

1994

2022

325

Units

48,461.54

15,750,000

7.14000%

0.01876%

7.12124%

NAP

95,014.06

NAP

1,140,168.72

Interest Only

Actual/360

120

5/11/2023

7/6/2023

NAP

6/6/2033

L(24),YM1(92),O(4)

1,131,992

704,013

427,979

3/31/2023

T-12

NAV

95.0%

2,746,000

1,207,254

1,538,746

81,250

1,457,496

1.35

1.28

9.8%

9.3%

26,500,000

As Is

3/16/2023

59.4%

95.7%

4/10/2023

NAP

3/23/2023

NAP

3/22/2023

NAP

Fee

NAP

82,354

11,765

89,644

11,206

6,771

39,198

NAP

Springing

Yes

NAP

David Pezzola and Galen Drever

Refinance

NAP

Loan

Pacific Design Center

2.3%

100.0%

GSBI

BMO

NAP

8687 and 8661 Melrose Avenue and 700 North San Vicente Boulevard

West Hollywood

Los Angeles

90069

Mixed Use

Office/Showroom/Lab

1975, 1988

2004

1,053,217

232.62

15,000,000

5.941071428571430%

0.01876%

5.92231%

NAP

75,294.83

NAP

903,537.96

Interest Only

Actual/360

120

116

120

116

1/11/2023

3/6/2023

NAP

2/6/2033

L(28),D(85),O(7)

40,094,569

13,349,509

26,745,060

9/30/2022

T-12

38,026,102

12,241,303

25,784,799

12/31/2021

T-12

32,245,576

11,178,233

21,067,343

12/31/2020

T-12

82.6%

46,802,895

13,021,016

33,781,880

210,643

1,524,048

32,047,188

2.29

2.17

13.8%

13.1%

512,500,000

As Is

11/17/2022

47.8%

78.3%

12/6/2022

Cedars Sinai Medical Center

259,653

24.7%

5/31/2030

8687 Melrose GreenTenant

54,630

5.2%

2/28/2034

Pluto, Inc.

35,850

3.4%

11/30/2028

InvestCloud, Inc.

32,128

3.1%

1/31/2027

Kneedler Fauchere

17,762

1.7%

1/31/2028

11/22/2022

NAP

11/22/2022

16%

Fee

NAP

178,740

Springing

17,554

3,000,000

Springing

5,000,000

13,809,708

Springing

Unfunded Obligations Reserve (Upfront: $13,809,708.28), Major Tenant Downgrade Funds (Monthly: Springing), Major Tenant Non-Renewal Funds (Monthly: Springing)

NAP

Hard

Springing

Yes

15,000,000

230,000,000

1,154,520.71

1,229,815.54

20,000,000

15.50000%

265,000,000

1,491,736.84

51.7%

1.79

12.7%

NAP

Yes

Future Mezzanine Loan

Charles Steven Cohen

Refinance

NAP

Loan

La Habra Marketplace

2.3%

100.0%

3650 REIT

NAP

1641 West Imperial Highway

La Habra

Orange

90631

Retail

Anchored

1968-2002

2005-2019

372,476

255.05

15,000,000

3.70000%

0.01876%

3.68124%

NAP

46,892.36

NAP

562,708.32

Interest Only

Actual/360

120

102

120

102

12/3/2021

1/5/2022

NAP

12/5/2031

L(42),D(74),O(4)

11,993,438

2,627,096

9,366,342

7/31/2022

T-12

10,564,292

2,749,929

7,814,362

12/31/2021

T-12

9,980,591

2,409,275

7,571,315

12/31/2020

T-12

95.0%

11,154,296

2,690,213

8,464,083

74,495

47,476

8,342,112

2.38

2.34

8.9%

8.8%

153,000,000

As Is

8/10/2021

62.1%

95.6%

8/2/2022

Regal Entertainment Group

59,800

16.1%

4/30/2034

LA Fitness

50,322

13.5%

12/31/2034

Hobby Lobby

44,060

11.8%

6/30/2028

Ross Dress For Less

25,920

7.0%

1/31/2028

Sprouts

25,252

6.8%

9/30/2024

9/15/2021

NAP

8/19/2021

10%

Fee

NAP

111,540

Springing

5,983

1,250,000

3,250,000

29,917

1,250,000

NAP

Soft Springing

Springing

Yes

15,000,000

80,000,000

250,092.59

296,984.95

NAP

95,000,000

296,984.95

62.1%

2.34

8.9%

NAP

Eric Sahn

Refinance

NAP

Loan

Comfort Suites Maingate East

2.1%

100.0%

BMO

NAP

2775 Florida Plaza Boulevard

Kissimmee

Osceola

34746

Hospitality

Limited Service

2000

2020

198

Rooms

70,707.07

14,000,000

13,405,959

7.99000%

0.01876%

7.97124%

102,629.46

94,511.34

1,231,553.52

1,134,136.08

Interest Only, Amortizing Balloon

Actual/360

120

118

360

3/30/2023

5/6/2023

5/6/2028

4/6/2033

L(26),D(90),O(4)

6,705,836

5,029,443

1,676,393

2/28/2023

T-12

6,472,828

4,840,111

1,632,717

12/31/2022

T-12

3,304,621

3,060,199

244,422

12/31/2021

T-12

78.1%

6,937,724

4,801,730

2,135,994

277,509

1,858,485

1.73

1.51

15.3%

13.3%

24,300,000

As Is

2/2/2023

57.6%

55.2%

78.1%

2/28/2023

NAP

2/2/2023

NAP

2/2/2023

NAP

Fee

NAP

130,313

18,616

59,983

19,994

11,553

11,330

624,139

Springing

PIP Reserve (Upfront: $324,139), Seasonality Reserve (Upfront: $300,000, Monthly: Springing)

350,000

NAP

Hard

Springing

Yes

NAP

Wesley L. Spruill

Acquisition

3/30/2043

116.11

90.63

78.1%

116.11

90.63

78.1%

114.35

87.50

76.5%

98.25

44.56

45.4%

Loan

801 Bridgeboro Road

2.0%

100.0%

CREFI

NAP

801 Bridgeboro Road

Edgewater Park

Burlington

08010

Industrial

Warehouse / Distribution

1850

1987

307,887

42.22

13,000,000

6.97000%

0.01876%

6.95124%

NAP

76,557.06

NAP

918,684.72

Interest Only

Actual/360

120

5/9/2023

7/6/2023

NAP

6/6/2033

L(24),D(93),O(3)

NAV

86.9%

2,530,620

454,387

2,076,233

46,183

74,259

1,955,791

2.26

2.13

16.0%

15.0%

22,650,000

As Is

4/25/2023

57.4%

83.8%

4/1/2023

L&M Third Party Logistics, LLC

153,000

49.7%

2/28/2026

Armstrong Logistics

70,887

23.0%

3/31/2028

SunWise Energy

22,000

7.1%

12/31/2027

YouInkIt

12,000

3.9%

4/30/2028

NAP

3/23/2023

NAP

3/23/2023

NAP

Fee

NAP

13,505

6,752

41,609

8,322

3,849

700,000

Springing

500,000

431,238

744,314

Armstrong Reserve

NAP

Springing

Yes

NAP

Eric Scott Cohen

Recapitalization

NAP

Loan

Crosswinds Business Park

1.9%

100.0%

SMC

NAP

11826 Tech Com Drive

San Antonio

Bexar

78233

Industrial

Flex

1999

NAP

96,597

128.81

12,450,000

12,442,427

10,888,282

7.09000%

0.05876%

7.03124%

83,584.05

NAP

1,003,008.60

NAP

Amortizing Balloon

Actual/360

120

119

360

359

5/3/2023

6/6/2023

5/6/2033

L(25),D(89),O(6)

1,618,045

858,986

759,058

2/28/2023

T-12

1,161,543

853,569

307,974

12/31/2022

T-12

1,949,070

295,201

1,653,869

12/31/2021

T-12

95.5%

2,396,832

907,317

1,489,515

14,490

120,746

1,354,279

1.49

1.35

12.0%

10.9%

21,400,000

As Stabilized

8/1/2023

58.1%

50.9%

100.0%

4/18/2023

Spectrum / Charter Communications

87,597

90.7%

7/31/2030

GSA - US Marshals Service

9,000

9.3%

5/5/2039

NAP

4/10/2023

NAP

4/10/2023

NAP

Fee

NAP

94,887

18,977

5,485

1,097

1,207

10,062

57,788

2,007,939

Spectrum TI Reserve ($1,932,421), Spectrum Free Rent Reserve ($75,518)

NAP

Hard

Springing

Yes

NAP

Sidhartha Singh

Refinance

NAP

Loan

Loves Park Tech Center

1.7%

100.0%

3650 REIT

NAP

1354 Clifford Avenue

Loves Park

Winnebago

61111

Industrial

Warehouse

1953

NAP

534,642

20.99

11,220,000

7.01000%

0.01876%

6.99124%

NAP

66,453.83

NAP

797,445.96

Interest Only

Actual/360

120

5/12/2023

7/5/2023

NAP

6/5/2033

L(24),D(92),O(4)

2,595,705

1,843,481

752,224

1/31/2023

T-12

2,589,033

1,857,591

731,442

12/31/2022

T-12

NAV

88.6%

3,518,021

1,919,811

1,598,210

23,464

90,000

1,484,746

2.00

1.86

14.2%

13.2%

17,000,000

As Is

2/8/2023

66.0%

80.4%

12/1/2022

186,138

34.8%

1/31/2032

Rusco Manufacturing

68,250

12.8%

8/31/2027

Team Best

46,990

8.8%

10/14/2029

Pierce Distribution

31,250

5.8%

6/30/2026

Lanter Distribution

28,800

5.4%

3/31/2028

11/28/2022

NAP

11/29/2022

NAP

Yes - AE

Fee

NAP

26,162

8,721

Springing

4,455

200,000

300,000

7,500

418,281

Outstanding TI/LC Reserve (Upfront: $389,480.64), Free Rent Reserve (Upfront: $28,800)

NAP

Hard

Springing

Yes

NAP

Ian Ross

Refinance

NAP

Loan

800 Cesar Chavez

1.5%

100.0%

3650 REIT

NAP

630 and 640-800 Cesar Chavez

San Francisco

94124

Industrial

Warehouse

1953

NAP

122,360

310.56

10,000,000

4.11000%

0.01876%

4.09124%

NAP

34,725.69

NAP

416,708.28

Interest Only

Actual/360

120

105

120

105

2/22/2022

4/5/2022

NAP

3/5/2032

L(35),D(81),O(4)

NAV

99.0%

3,271,904

98,157

3,173,746

5,403

-5,403

3,173,746

2.00

8.4%

70,700,000

As Is

3/28/2022

53.7%

100.0%

6/5/2023

Yes

GM Cruise

122,360

100.0%

11/30/2030

NAP

12/15/2021

NAP

9/15/2022

12/14/2021

24%

Fee

NAP

Springing

89,199

Springing

450

600,000

2,251

336,010

Springing

Rent Reduction Reserve (Upfront: $180,350), Debt Service Supplement Reserve (Upfront: $155,660), Significant Tenant Reserve (Monthly: Springing)

NAP

Hard

Springing

Yes

10,000,000

28,000,000

97,231.95

131,957.64

NAP

38,000,000

131,957.64

53.7%

2.00

8.4%

NAP

Matthew Stern, Daniel Sachs and WCM-GGG, LLC

Yes

Refinance

NAP

Loan

Fresenius

1.4%

100.0%

BMO

NAP

362 4th Avenue

Brooklyn

Kings

11215

Office

Medical

1971

2011

15,000

633.33

9,500,000

6.75000%

0.01876%

6.73124%

NAP

54,179.69

NAP

650,156.28

Interest Only

Actual/360

120

119

120

119

5/5/2023

6/6/2023

NAP

5/6/2033

L(25),DorYM1(90),O(5)

478,631

2,817

475,814

12/31/2022

T-12

471,752

14,055

457,697

12/31/2021

T-12

471,754

3,156

468,599

12/31/2020

T-12

100.0%

905,124

1.39

9.5%

14,800,000

As Is

3/28/2023

64.2%

100.0%

5/5/2023

Yes

New York Dialysis Services, Inc.

15,000

100.0%

12/31/2036

NAP

3/29/2023

NAP

3/31/2023

NAP

Fee

NAP

Springing

12,311

1,759

Springing

213,930

NAP

Hard

Springing

Yes

NAP

Steven J. Guttman

Refinance

NAP

Loan

Macon GA Portfolio

1.1%

Arbor

BMO

NAP

Various

Macon

Bibb

31204

Multifamily

Garden

Various

NAP

117

Units

64,829.06

7,585,000

7,162,140

6.72300%

0.14251%

6.58049%

49,060.11

43,085.17

588,721.32

517,022.04

Interest Only, Amortizing Balloon

Actual/360

120

115

360

12/30/2022

2/1/2023

2/1/2028

1/1/2033

L(29),D(88),O(3)

1,163,372

366,430

796,941

2/28/2023

T-12

972,847

318,190

654,657

12/31/2022

T-12

NAV

94.0%

1,349,838

525,130

824,707

29,250

795,457

1.40

1.35

10.9%

10.5%

11,200,000

As Is

11/1/2022

67.7%

63.9%

100.0%

2/28/2023

14,268

3,567

50,050

7,150

7,313

2,438

52,131

NAP

Springing

None

Yes

NAP

Marvin H. Peavy, Jr.

Refinance

NAP

25.01

Property

Riviera

0.4%

38.2%

3013 Ridge Avenue

Macon

Bibb

31204

Multifamily

Garden

1963, 1966

NAP

Units

2,895,627

2,734,197

NAV

4,275,679

As Is

11/1/2022

100.0%

2/28/2023

NAP

11/4/2022

NAP

11/4/2022

NAP

Fee

NAP

25.02

Property

Oak Hill

0.3%

30.3%

3310 Ridge Avenue, 155 Tyrone Boulevard and 163 Tyrone Boulevard

Macon

Bibb

31204

Multifamily

Garden

1970

NAP

Units

2,294,726

2,166,796

NAV

3,388,389

As Is

11/1/2022

100.0%

2/28/2023

NAP

11/4/2022

NAP

11/4/2022

NAP

Fee

NAP

25.03

Property

Cobblestone

0.2%

17.0%

241 Riley Avenue

Macon

Bibb

31204

Multifamily

Garden

1972

NAP

Units

1,292,076

1,220,043

NAV

1,907,877

As Is

11/1/2022

100.0%

2/28/2023

NAP

11/4/2022

NAP

11/7/2022

NAP

Fee

NAP

25.04

Property

Neal Darlington

0.2%

14.5%

2063 and 2073 Vineville Avenue

Macon

Bibb

31204

Multifamily

Garden

1963, 1964

NAP

Units

1,102,571

1,041,103

NAV

1,628,055

As Is

11/1/2022

100.0%

2/28/2023

NAP

11/4/2022

NAP

11/4/2022

NAP

Fee

NAP

Loan

Holiday Inn Express and Suites - Aiken

1.1%

100.0%

UBS AG

NAP

2897 Whiskey Road

Aiken

29803

Hospitality

Limited Service

2014

NAP

Rooms

77,368.42

7,350,000

7,231,573

7.65000%

0.01876%

7.63124%

52,149.30

47,507.03

625,791.60

570,084.36

Interest Only, Amortizing Balloon

Actual/360

360

3/24/2023

5/6/2023

5/6/2026

4/6/2028

L(26),D(27),O(7)

3,540,016

2,087,912

1,452,104

2/28/2023

T-12

3,442,342

2,062,217

1,380,124

12/31/2022

T-12

2,751,888

1,755,002

996,886

12/31/2021

T-12

80.8%

3,540,016

2,092,900

1,447,116

141,601

1,305,515

2.31

2.09

19.7%

17.8%

13,810,000

As Is

2/1/2023

53.2%

52.4%

80.8%

2/28/2023

NAP

2/16/2023

NAP

2/14/2023

NAP

Fee

NAP

44,846

9,749

14,110

5,427

Springing

1,112,792

12,645

PIP Funds

NAP

Hard

Springing

Yes

NAP

Constantine Christopher Pappas

Acquisition

3/24/2038

125.53

101.37

80.8%

125.53

101.37

80.8%

122.57

98.59

80.4%

98.66

78.68

79.7%

Loan

Mini U Storage - Springfield

1.1%

100.0%

KeyBank

Group E

NAP

7711 Loisdale Road

Springfield

Fairfax

22150

Self Storage

1986

NAP

64,185

109.06

7,000,000

6.60000%

0.02751%

6.57249%

NAP

39,034.72

NAP

468,416.64

Interest Only

Actual/360

120

119

120

119

4/5/2023

6/1/2023

NAP

5/1/2033

L(25),YM1(92),O(3)

1,264,382

537,927

726,455

1/31/2023

T-12

1,264,678

541,326

723,352

12/31/2022

T-12

1,210,562

505,675

704,887

12/31/2021

T-12

85.3%

1,264,382

536,181

728,201

6,419

721,782

1.55

1.54

10.4%

10.3%

15,450,000

As Is

2/18/2023

45.3%

83.8%

3/21/2023

NAP

2/28/2023

NAP

2/28/2023

NAP

Fee

NAP

16,097

15,071

1,319

535

NAP

Springing

Yes

NAP

Dahn Corporation

Refinance

NAP

Loan

Quality Inn SeaTac

1.0%

100.0%

UBS AG

Group D

NAP

2900 South 192nd Street

Seattle

King

98188

Hospitality

Limited Service

1981

2022

102

Rooms

65,071.51

6,650,000

6,637,294

5,851,648

7.32470%

0.01876%

7.30594%

45,702.14

NAP

548,425.68

NAP

Amortizing Balloon

Actual/360

120

117

360

357

3/1/2023

4/6/2023

3/6/2033

L(27),D(89),O(4)

2,799,229

1,767,580

1,031,649

2/28/2023

T-12

2,678,415

1,692,154

986,261

12/31/2022

T-12

NAV

65.7%

2,799,229

1,681,349

1,117,880

111,969

1,005,911

2.04

1.83

16.8%

15.2%

11,100,000

As Is

10/27/2022

59.8%

52.7%

65.7%

2/28/2023

NAP

11/4/2022

NAP

11/4/2022

Fee

NAP

7,336

31,493

3,280

8,928

185,000

Springing

Seasonality Reserve (Upfront: $175,000; Monthly: Springing), Franchise Reserve (Upfront: $10,000)

NAP

Hard

Springing

Yes

NAP

Binchi Zhang and Tingting Chen

Refinance

7/27/2041

113.74

74.72

65.7%

113.74

74.72

65.7%

113.69

70.91

62.4%

NAV

Loan

Steiner Portfolio - Chicago 4-Pack

1.0%

Arbor

BMO

Group C

NAP

Various

Chicago

Cook

60620

Multifamily

Garden

Various

NAP

Units

88,413.33

6,631,000

6,056,267

6.55600%

0.14251%

6.41349%

42,156.94

36,730.52

505,883.28

440,766.24

Interest Only, Amortizing Balloon

Actual/360

120

117

360

2/3/2023

4/1/2023

4/1/2026

3/1/2033

L(27),D(90),O(3)

961,493

159,574

801,919

3/31/2023

T-12

943,500

163,246

780,254

12/31/2022

T-12

873,237

203,320

669,916

12/31/2021

T-12

95.0%

953,443

296,361

657,082

23,550

633,532

1.30

1.25

9.9%

9.6%

9,250,000

As Is

8/16/2022

71.7%

65.5%

100.0%

4/1/2023

63,152

9,022

5,509

2,754

5,887

1,963

94,813

NAP

Springing

None

Yes

NAP

Mendel Steiner

Refinance

NAP

29.01

Property

8052 South Laflin Street

0.3%

30.0%

8052 South Laflin Street

Chicago

Cook

60620

Multifamily

Garden

1925

NAP

Units

1,989,300

1,816,880

NAV

2,775,000

As Is

8/16/2022

100.0%

4/1/2023

NAP

8/25/2022

NAP

8/25/2022

NAP

Fee

NAP

29.02

Property

8100 South Justine Street

0.3%

28.1%

8100 South Justine Street

Chicago

Cook

60620

Multifamily

Garden

1928

NAP

Units

1,863,849

1,702,302

NAV

2,600,000

As Is

8/16/2022

100.0%

4/1/2023

NAP

8/25/2022

NAP

8/25/2022

NAP

Fee

NAP

29.03

Property

8154 South Paulina Street

0.2%

23.2%

8154 South Paulina Street

Chicago

Cook

60620

Multifamily

Garden

1928

NAP

Units

1,541,259

1,407,673

NAV

2,150,000

As Is

8/16/2022

100.0%

4/1/2023

NAP

8/25/2022

NAP

8/26/2022

NAP

Fee

NAP

29.04

Property

8100 South Ada Street

0.2%

18.6%

8100 South Ada Street

Chicago

Cook

60620

Multifamily

Garden

1926

NAP

Units

1,236,592

1,129,412

NAV

1,725,000

As Is

8/16/2022

100.0%

4/1/2023

NAP

8/25/2022

NAP

8/26/2022

NAP

Fee

NAP

Loan

Clarion Inn Huntsville

0.8%

100.0%

Ladder Capital

BMO

NAP

4815 University Drive Northwest

Huntsville

Madison

35816

Hospitality

Limited Service

1987

2017-2019

154

Rooms

33,124.10

5,500,000

5,101,111

4,051,961

4.60000%

0.01876%

4.58124%

30,883.81

NAP

370,605.72

NAP

Amortizing Balloon

Actual/360

120

300

261

2/19/2020

4/6/2020

3/6/2030

L(63),D(54),O(3)

3,238,169

2,308,537

929,632

3/31/2023

T-12

3,119,042

2,268,228

850,814

12/31/2022

T-12

2,535,332

1,834,468

700,863

12/31/2021

T-12

63.6%

3,238,169

2,345,682

892,487

129,527

762,960

2.41

2.06

17.5%

15.0%

11,300,000

As Stabilized

8/16/2021

45.1%

35.9%

63.6%

3/31/2023

NAP

8/28/2019

NAP

8/27/2019

NAP

Yes - AE

Fee

NAP

30,551

4,364

17,694

2,949

The greater of (i) 1/12th of 4% of Gross Revenues or (ii) 1/12th of Gross Revenue of approved budget

13,460

Springing

Signage Reserve (Upfront: $9,460); Replacement Comfort Reserve (Upfront: $4,000); Seasonality Reserve (Monthly: Springing); PIP Reserve (Monthly: Springing)

NAP

Hard

Springing

Yes

NAP

Nishant Meraiya and Jashiben Patel

Refinance

12/31/2036

90.33

57.42

63.6%

90.33

57.42

63.6%

86.02

55.31

64.3%

78.31

44.87

57.3%

Loan

Steiner Portfolio - Chicago 3-Pack

0.7%

Arbor

BMO

Group C

NAP

Various

Chicago

Cook

Various

Multifamily

Garden

Various

NAP

Units

91,346.94

4,476,000

4,088,049

6.55600%

0.14251%

6.41349%

28,456.41

24,793.52

341,476.92

297,522.24

Interest Only, Amortizing Balloon

Actual/360

120

117

360

2/3/2023

4/1/2023

4/1/2026

3/1/2033

L(27),D(90),O(3)

641,559

121,520

520,039

3/31/2023

T-12

634,922

145,616

489,306

12/31/2022

T-12

619,834

164,760

455,074

12/31/2021

T-12

95.0%

633,901

187,987

445,914

15,484

430,430

1.31

1.26

10.0%

9.6%

6,400,000

As Is

8/16/2022

69.9%

63.9%

100.0%

4/1/2023

38,496

4,812

21,843

2,427

3,871

1,290

98,375

NAP

Springing

None

Yes

NAP

Mendel Steiner

Refinance

NAP

31.01

Property

7253 South Evans Avenue

0.2%

35.9%

7253 South Evans Avenue

Chicago

Cook

60619

Multifamily

Garden

1923

NAP

Units

1,608,563

1,469,143

NAV

2,300,000

As Is

8/16/2022

100.0%

4/1/2023

NAP

8/25/2022

NAP

8/25/2022

NAP

Fee

NAP

31.02

Property

7801 South Ridgeland Avenue

0.2%

33.6%

7801 South Ridgeland Avenue

Chicago

Cook

60649

Multifamily

Garden

1924

NAP

Units

1,503,656

1,373,329

NAV

2,150,000

As Is

8/16/2022

100.0%

4/1/2023

NAP

8/25/2022

NAP

8/24/2022

NAP

Fee

NAP

31.03

Property

7600 South Honore Street

0.2%

30.5%

7600 South Honore Street

Chicago

Cook

60620

Multifamily

Garden

1923

NAP

Units

1,363,781

1,245,577

NAV

1,950,000

As Is

8/16/2022

100.0%

4/1/2023

NAP

8/25/2022

NAP

8/25/2022

NAP

Fee

NAP

Loan

SureStay Plus SeaTac

0.6%

100.0%

UBS AG

Group D

NAP

19260 28th Avenue South

SeaTac

King

98188

Hospitality

Limited Service

2006

2021

Rooms

73,993.69

4,300,000

4,291,634

3,777,214

7.25750%

0.01876%

7.23874%

29,355.46

NAP

352,265.52

NAP

Amortizing Balloon

Actual/360

120

117

360

357

3/3/2023

4/6/2023

3/6/2033

L(27),D(89),O(4)

1,952,550

1,326,485

626,065

2/28/2023

T-12

1,897,948

1,242,016

655,932

12/31/2022

T-12

NAV

71.3%

1,952,550

1,235,112

717,437

78,102

639,335

2.04

1.81

16.7%

14.9%

7,400,000

As Is

10/27/2022

58.0%

51.0%

71.3%

2/28/2023

NAP

11/4/2022

NAP

11/4/2022

Fee

NAP

6,065

23,243

2,421

6,326

1,242,626

Springing

QA Reserve (Upfront: $1,182,626.40), Seasonality Reserve (Upfront: $60,000; Monthly: Springing), PIP Reserve (Monthly: Springing)

NAP

Hard

Springing

Yes

NAP

Binchi Zhang and Tingting Chen

Refinance

12/3/2036

129.33

92.23

71.3%

129.33

92.23

71.3%

131.39

89.65

68.2%

NAV

Loan

Limestone Terrace

0.6%

100.0%

Arbor

BMO

NAP

1260 and 1270 Harvey Mitchell Parkway

College Station

Brazos

77840

Multifamily

Garden

2011

NAP

Units

64,250.00

3,855,000

6.72000%

0.14251%

6.57749%

NAP

21,887.83

NAP

262,653.96

Interest Only

Actual/360

120

115

120

115

12/28/2022

2/1/2023

NAP

1/1/2033

L(29),D(88),O(3)

839,156

458,381

380,775

3/31/2023

T-12

825,598

460,418

365,179

12/31/2022

T-12

552,622

275,840

276,782

12/31/2021

T-12

92.8%

862,926

482,598

380,329

21,120

359,209

1.45

1.37

9.9%

9.3%

7,150,000

As Is

11/1/2022

53.9%

91.7%

4/20/2023

NAP

11/9/2022

NAP

11/9/2022

NAP

Fee

NAP

19,762

9,881

11,074

5,537

5,280

1,760

NAP

Springing

None

Yes

NAP

Bryan Ayres and Cathy Fontana

Refinance

NAP

Loan

Richmond Medical Office

0.5%

100.0%

BSPRT

NAP

7110 Forest Avenue

Richmond

Henrico

23226

Office

Medical

1986

2019

31,116

116.50

3,625,000

6.34500%

0.01876%

6.32624%

NAP

19,433.40

NAP

233,200.80

Interest Only

Actual/360

120

115

120

115

12/15/2022

2/6/2023

NAP

1/6/2033

L(29),D(87),O(4)

717,796

217,651

500,145

10/31/2022

T-12

709,165

245,488

463,678

12/31/2021

T-12

577,090

230,321

346,769

12/31/2020

T-12

86.9%

670,006

214,450

455,556

10,891

37,618

407,047

1.95

1.75

12.6%

11.2%

7,050,000

As Is

10/28/2022

51.4%

86.4%

4/27/2023

CRP

14,224

45.7%

3/31/2030

Infusion Solutions

3,545

11.4%

3/31/2030

CCM

3,191

10.3%

8/31/2024

NAI Dominion

2,096

6.7%

5/30/2025

Partners in Pediatrics

1,944

6.2%

8/31/2024

11/9/2022

NAP

11/9/2022

NAP

Fee

NAP

10,102

2,526

1,172

586

908

75,000

3,760

300,000

11,438

NAP

Springing

Yes

NAP

Colin O'Keeffe and Guy Holbrook IV

Acquisition

NAP

Loan

Mini U Storage - Landmark

0.4%

100.0%

KeyBank

Group E

NAP

500 South Pickett Street

Alexandria

Alexandria City

22304

Self Storage

1977

NAP

23,925

97.51

2,333,000

6.63000%

0.02751%

6.60249%

NAP

13,068.85

NAP

156,826.20

Interest Only

Actual/360

120

5/5/2023

7/1/2023

NAP

6/1/2033

L(25),YM1(92),O(3)

583,788

312,736

271,052

3/31/2023

T-12

601,051

311,912

289,139

12/31/2022

T-12

592,207

301,150

291,057

12/31/2021

T-12

68.1%

550,860

321,057

229,803

6,699

223,104

1.47

1.42

9.9%

9.6%

6,050,000

As Is

3/29/2023

38.6%

78.2%

4/26/2023

NAP

4/5/2023

NAP

4/5/2023

NAP

Fee

NAP

13,536

6,742

1,171

585

566

NAP

Springing

Yes

NAP

Dahn Corporation

Refinance

NAP

BMO Commercial Mortgage Securities FWPFree writing prospectus