BMO 2024-5C3 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herein is preliminary as of the date hereof, supersedes any such information previously delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus relating to the securities.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 of BMO Capital Markets Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, SG Americas Securities, LLC, UBS Securities, LLC, Academy Securities, Inc., 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 | # 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 % | 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 (%) |
| 1 | Loan | 1 | Tysons Corner Center | 8.2% | 100.0% | DBNY, GSBI, JPMCB, BMO | GACC, BMO, GSMC | NAP | NAP | 1961 Chain Bridge Road | McLean | Fairfax | VA | 22102 | Retail | Super Regional Mall | 1968 | 1989, 2005 | 1,793,638 | SF | 395.84 | 73,960,000 | 73,960,000 | 73,960,000 | 6.60060% | NAP | 412,467.22 | NAP | 4,949,606.64 | Interest Only | No | Actual/360 | 60 | 58 | 60 | 58 | 0 | 0 | 12/4/2023 | 2 | 6 | 1/6/2024 | NAP | 12/6/2028 | 12/6/2028 | 5 | 0 | L(26),DorYM1(27),O(7) | 129,617,825 | 44,086,503 | 85,531,322 | 9/30/2023 | T-12 | 127,448,218 | 42,843,235 | 84,604,983 | 12/31/2022 | T-12 | 126,677,910 | 43,141,634 | 83,536,276 | 12/31/2021 | T-12 | 92.2% | 140,618,916 | 43,516,369 | 97,102,547 | 358,728 | 1,793,638 | 94,950,181 | 2.04 | 2.00 | 13.7% | 13.4% | 1,800,000,000 | As Is | 10/5/2023 | 39.4% | 39.4% | 95.4% | 11/1/2023 | No | Bloomingdale's | 252,754 | 14.1% | 7/22/2028 | Macy's | 237,076 | 13.2% | 7/24/2028 | Nordstrom | 201,000 | 11.2% | 3/31/2025 | AMC Theatres | 105,122 | 5.9% | 9/30/2025 | Primark | 50,186 | 2.8% | 5/31/2034 | 8/2/2023 | NAP | 8/7/2023 | NAP | NAP | No | Fee/Leasehold | 8/31/2035 | No | 1,565,412 | No | 0 | Springing | 0 | Springing | 0 | Springing | 896,819 | 0 | Springing | 3,587,276 | 0 | 0 | 0 | 0 | 39,775,125 | 0 | Outstanding TI/LC (Upfront: $30,769,199); Gap Rent Reserve (Upfront: $9,005,926) | 0 | NAP | NAP | Hard | Springing | Yes | No | Yes | NAP | 73,960,000 | 636,040,000 | 3,547,128.82 | 3,959,596.04 | NAP | NAP | 710,000,000 | 3,959,596.04 | 39.4% | 2.00 | 13.7% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | The Macerich Partnership, L.P. and Alaska Permanent Fund Corporation | The Macerich Partnership, L.P. | No | No | Refinance | No | 710,000,000 | 0 | 0 | 0 | 710,000,000 | 666,692,845 | 0 | 3,532,030 | 39,775,125 | 0 | 0 | 710,000,000 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 2 | Loan | 1 | Elmwood Shopping Center | 7.8% | 100.0% | CREFI | CREFI | NAP | NAP | 1200 South Clearview Parkway | Elmwood | Jefferson | LA | 70123 | Retail | Anchored | 1977 | 2020 | 804,807 | SF | 105.62 | 70,000,000 | 70,000,000 | 70,000,000 | 6.60000% | NAP | 390,347.22 | NAP | 4,684,166.64 | Interest Only | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 12/20/2023 | 1 | 6 | 2/6/2024 | NAP | 1/6/2029 | 1/6/2029 | 0 | 0 | YM1(53),O(7) | 18,317,264 | 5,587,147 | 12,730,117 | 10/31/2023 | T-12 | 16,828,146 | 4,953,143 | 11,875,003 | 12/31/2022 | T-12 | 16,380,798 | 4,136,012 | 12,244,786 | 12/31/2021 | T-12 | 90.8% | 20,116,855 | 5,957,736 | 14,159,119 | 169,009 | 0 | 13,990,109 | 2.49 | 2.46 | 16.7% | 16.5% | 208,100,000 | As Is | 11/10/2023 | 40.8% | 40.8% | 92.0% | 11/21/2023 | No | Home Depot | 101,860 | 12.7% | 1/31/2028 | Ochsner Fitness | 98,832 | 12.3% | 3/31/2033 | Hobby Lobby | 43,222 | 5.4% | 7/31/2029 | Marshall's | 36,380 | 4.5% | 10/31/2027 | Ashley Furniture | 36,000 | 4.5% | 6/30/2025 | 11/29/2023 | NAP | 11/29/2023 | NAP | NAP | Yes - AE | Fee | NAP | NAP | NAP | NAP | 164,331 | 164,331 | 0 | Springing | 0 | 14,084 | 0 | 5,800,000 | Springing | 2,500,000 | 0 | 0 | 0 | 2,000,549 | 2,262,243 | 0 | Unfunded Obligations Reserve | 0 | NAP | NAP | Hard | Springing | Yes | No | Yes | Yes | 70,000,000 | 15,000,000 | 83,645.84 | 473,993.06 | NAP | NAP | 85,000,000 | 473,993.06 | 40.8% | 2.46 | 16.7% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Lauricella Land Company, LLC | Lauricella Land Company, LLC | No | No | Refinance | No | 85,000,000 | 0 | 0 | 0 | 85,000,000 | 63,534,534 | 0 | 1,653,102 | 10,227,123 | 9,585,241 | 0 | 85,000,000 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 3 | Loan | 1 | Margaritaville Lake of the Ozarks | 6.7% | 100.0% | SMC, GSMC | SMC, GSMC | NAP | NAP | 494 Tan Tar A Drive | Osage Beach | Camden | MO | 65065 | Hospitality | Full Service | 1960 | 2023 | 520 | Rooms | 116,346.15 | 60,500,000 | 60,500,000 | 60,500,000 | 7.41000% | NAP | 378,776.22 | NAP | 4,545,314.58 | Interest Only | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 1/10/2024 | 0 | 6 | 3/6/2024 | NAP | 2/6/2029 | 2/6/2029 | 0 | 0 | L(24),DorYM1(29),O(7) | 38,058,114 | 27,636,179 | 10,421,934 | 10/31/2023 | T-12 | 36,581,515 | 26,686,143 | 9,895,372 | 12/31/2022 | T-12 | 29,560,804 | 22,238,200 | 7,322,604 | 12/31/2021 | T-12 | 52.8% | 38,108,811 | 27,746,341 | 10,362,469 | 1,524,352 | 0 | 8,838,117 | 2.28 | 1.94 | 17.1% | 14.6% | 108,000,000 | As Is | 11/29/2023 | 56.0% | 56.0% | 54.5% | 10/31/2023 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 12/7/2023 | NAP | 12/5/2023 | NAP | NAP | No | Fee/Leasehold | 8/11/2076 | Two, 99-year options | 1 | No | 83,872 | 27,957 | 0 | Springing | 0 | 127,029 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Springing | Seasonality Reserve | 3,000,000 | NAP | NAP | Soft | Springing | Yes | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | Yes | Future Mezzanine Loan | Carlos J. Rodriguez, Sr. and Carlos J. Rodriguez, Jr. | Carlos J. Rodriguez, Sr. and Carlos J. Rodriguez, Jr. | No | No | Refinance | No | 60,500,000 | 0 | 0 | 0 | 60,500,000 | 24,860,492 | 0 | 877,500 | 83,872 | 34,678,136 | 0 | 60,500,000 | 3/1/2039 | 165.96 | 87.56 | 52.8% | 165.86 | 90.44 | 54.5% | 162.79 | 87.86 | 54.0% | 162.32 | 69.48 | 42.8% |
| 4 | Loan | 1 | Galleria at Tyler | 5.5% | 100.0% | SGFC, GACC, BANA | SGFC, GACC | Group A | NAP | 1299 Galleria At Tyler | Riverside | Riverside | CA | 92503 | Retail | Super Regional Mall | 1970 | 1991, 2007 | 565,913 | SF | 265.06 | 50,000,000 | 50,000,000 | 50,000,000 | 7.91900% | NAP | 334,541.09 | NAP | 4,014,493.08 | Interest Only | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 12/13/2023 | 1 | 1 | 2/1/2024 | NAP | 1/1/2029 | 1/1/2029 | 0 | 0 | L(25),D(28),O(7) | 35,273,885 | 11,275,921 | 23,997,964 | 11/30/2023 | T-12 | 35,459,583 | 11,035,894 | 24,423,689 | 12/31/2022 | T-12 | 30,204,741 | 10,695,470 | 19,509,271 | 12/31/2021 | T-12 | 87.9% | 36,420,340 | 11,434,747 | 24,985,593 | 209,388 | 1,131,826 | 23,644,379 | 2.07 | 1.96 | 16.7% | 15.8% | 300,000,000 | As Is | 10/12/2023 | 50.0% | 50.0% | 90.3% | 12/18/2023 | No | AMC | 70,000 | 12.4% | 12/31/2028 | Barnes & Noble | 25,000 | 4.4% | 1/31/2029 | H&M | 20,799 | 3.7% | 1/31/2032 | Glo Mini Golf | 14,961 | 2.6% | 5/31/2028 | Old Navy | 14,504 | 2.6% | 6/30/2029 | 10/12/2023 | NAP | 10/12/2023 | 10/12/2023 | 14% | No | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 0 | Springing | 0 | Springing | 0 | 0 | Springing | 0 | 0 | 0 | 0 | 0 | 9,924,378 | 0 | General Reserve ($5,000,000), Outstanding Landlord Obligations ($4,687,691.09), Gap Rent Reserve ($236,687) | 0 | NAP | NAP | Hard | Springing | Yes | Yes | Yes | No | 50,000,000 | 100,000,000 | 669,082.17 | 1,003,623.26 | NAP | NAP | 150,000,000 | 1,003,623.26 | 50.0% | 1.96 | 16.7% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Brookfield Properties Retail Holding LLC and Teachers’ Retirement System of the State of Illinois | GGP-TRS L.L.C. | No | No | Refinance | No | 150,000,000 | 13,330,744 | 0 | 0 | 163,330,744 | 152,794,561 | 0 | 611,806 | 9,924,378 | 0 | 0 | 163,330,744 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 5 | Loan | 2 | 33 West State Street and 50 East State Street | 5.5% | | CREFI,MSBNA | CREFI | NAP | NAP | Various | Trenton | Mercer | NJ | 00608 | Office | CBD | Various | NAP | 473,622 | SF | 190.02 | 50,000,000 | 50,000,000 | 50,000,000 | 7.35000% | NAP | 310,503.47 | NAP | 3,726,041.64 | Interest Only | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 1/17/2024 | 0 | 6 | 3/6/2024 | NAP | 2/6/2029 | 2/6/2029 | 0 | 0 | L(24),D(29),O(7) | 20,327,117 | 7,050,913 | 13,276,204 | 10/31/2023 | T-12 | 16,303,864 | 7,174,141 | 9,129,723 | 12/31/2022 | T-12 | 15,798,379 | 6,802,467 | 8,995,912 | 12/31/2021 | T-12 | 94.1% | 17,450,074 | 7,276,016 | 10,174,057 | 94,724 | 50,330 | 10,029,003 | 1.52 | 1.50 | 11.3% | 11.1% | 138,300,000 | As Is | 11/28/2023 | 65.1% | 65.1% | 93.7% | 12/12/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 267,288 | 267,288 | 78,813 | 15,763 | 0 | 7,894 | 0 | 20,000,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 | NAP | NAP | Hard | In Place | No | No | Yes | Yes | 50,000,000 | 40,000,000 | 248,402.78 | 558,906.25 | NAP | NAP | 90,000,000 | 558,906.25 | 65.1% | 1.50 | 11.3% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Muddy Puddles LLC | Simon Glick, Seymour Pluchenik and Menashe Frankel | No | No | Refinance | | 90,000,000 | 0 | 0 | 0 | 90,000,000 | 59,062,024 | 0 | 1,564,754 | 20,346,101 | 9,027,121 | 0 | 90,000,000 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 5.01 | Property | 1 | 50 East State Street | 3.3% | 60.0% | | | | | 50 East State Street | Trenton | Mercer | NJ | 08608 | Office | CBD | 1989 | NAP | 305,885 | SF | | 30,000,000 | 30,000,000 | 30,000,000 | | | | | | | | | | | | | | | | | | | | | | | | | 12,499,523 | 4,572,653 | 7,926,869 | 10/31/2023 | T-12 | 10,059,084 | 4,745,118 | 5,313,967 | 12/31/2022 | T-12 | 9,709,008 | 4,503,302 | 5,205,706 | 12/31/2021 | T-12 | 91.1% | 10,546,413 | 4,761,315 | 5,785,098 | 61,177 | 44,670 | 5,679,251 | | | | | 82,800,000 | As Is | 11/28/2023 | | | 90.5% | 12/12/2023 | No | State Of NJ Human Services | 246,138 | 80.5% | 10/31/2038 | TD Bank | 6,218 | 2.0% | 6/30/2028 | Kicks USA | 6,161 | 2.0% | 12/31/2025 | USA Vein Clinics of New Jersey LLC | 4,087 | 1.3% | 1/31/2033 | Metro PCS of Pennsylvania, LLC | 3,110 | 1.0% | 7/31/2026 | 12/5/2023 | NAP | 12/4/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 5.02 | Property | 1 | 33 West State Street | 2.2% | 40.0% | | | | | 33 West State Street | Trenton | Mercer | NJ | 08608 | Office | CBD | 1986 | NAP | 167,737 | SF | | 20,000,000 | 20,000,000 | 20,000,000 | | | | | | | | | | | | | | | | | | | | | | | | | 7,827,594 | 2,478,260 | 5,349,334 | 10/31/2023 | T-12 | 6,244,779 | 2,429,023 | 3,815,757 | 12/31/2022 | T-12 | 6,089,371 | 2,299,164 | 3,790,207 | 12/31/2021 | T-12 | 99.6% | 6,903,660 | 2,514,702 | 4,388,959 | 33,547 | 5,659 | 4,349,752 | | | | | 55,500,000 | As Is | 11/28/2023 | | | 99.6% | 12/12/2023 | No | State Of NJ / OMB | 163,480 | 97.5% | 10/31/2038 | Santander Soverign Bank | 3,583 | 2.1% | 6/30/2029 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 12/5/2023 | NAP | 12/4/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 6 | Loan | 1 | Piazza Alta | 5.0% | 100.0% | SGFC | SGFC | NAP | NAP | 1099 Germantown Avenue | Philadelphia | Philadelphia | PA | 19123 | Multifamily | Luxury High Rise | 2022-2023 | NAP | 695 | Units | 267,482.01 | 45,000,000 | 45,000,000 | 45,000,000 | 4.67614% | NAP | 177,790.74 | NAP | 2,133,488.88 | Interest Only | No | Actual/360 | 60 | 56 | 60 | 56 | 0 | 0 | 9/21/2023 | 4 | 8 | 11/8/2023 | NAP | 10/8/2028 | 10/8/2028 | 0 | 0 | L(28),D(28),O(4) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 25,836,537 | 3,971,583 | 21,864,954 | 180,700 | 35,111 | 21,649,143 | 2.48 | 2.46 | 11.8% | 11.6% | 470,600,000 | As Is | 6/27/2023 | 39.5% | 39.5% | 91.9% | 8/3/2023 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 6/21/2023 | NAP | 6/20/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 260,924 | 19,042 | 144,517 | Springing | 0 | Springing | 0 | 11,304,598 | Springing | 0 | 0 | 0 | 0 | 0 | 1,911,036 | 3,250 | Residential Concession Reserve, Free Rent Reserve and Common Charges Reserve | 0 | NAP | NAP | Soft (Residential); Hard (Commercial) | In Place | Yes | No | Yes | No | 45,000,000 | 140,900,000 | 556,682.56 | 734,473.30 | NAP | NAP | 185,900,000 | 734,473.30 | 39.5% | 2.46 | 11.8% | 126,100,000 | 8.50000% | 312,000,000 | 1,640,087.30 | 66.3% | 1.1 | 7.0% | No | NAP | Matthew Pestronk and Michael Pestronk | Matthew Pestronk and Michael Pestronk | No | No | Refinance | No | 185,900,000 | 20,203,569 | 126,100,000 | 0 | 332,203,569 | 294,834,291 | 0 | 23,748,203 | 13,621,075 | 0 | 0 | 332,203,569 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 7 | Loan | 11 | ExchangeRight Net Leased Portfolio #66 | 4.8% | | CREFI | CREFI | NAP | NAP | Various | Various | Various | Various | Various | Various | Various | Various | Various | 507,017 | SF | 85.30 | 43,250,000 | 43,250,000 | 43,250,000 | 6.14000% | NAP | 224,369.39 | NAP | 2,692,432.68 | Interest Only | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 1/17/2024 | 0 | 1 | 3/1/2024 | NAP | 2/1/2029 | 2/1/2029 | 5 | 5 | L(24),D(29),O(7) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 5,645,822 | 0 | 5,645,822 | 71,647 | 0 | 5,574,175 | 2.10 | 2.07 | 13.1% | 12.9% | 95,175,000 | As Is | Various | 45.4% | 45.4% | 100.0% | 2/1/2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 24,124 | 12,062 | 0 | Springing | 0 | Springing | 0 | 500,000 | Springing | 0 | 0 | 0 | 0 | 32,775 | 118,750 | 0 | Unfunded Obligations Reserve | 0 | NAP | NAP | Hard | Springing | Yes | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | ExchangeRight Real Estate, LLC | ExchangeRight Real Estate, LLC, David Fisher, Joshua Ungerecht and Warren Thomas | Yes | No | Acquisition | | 43,250,000 | 53,273,825 | 0 | 0 | 96,523,825 | 0 | 93,630,943 | 2,217,233 | 675,649 | 0 | 0 | 96,523,825 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 7.01 | Property | 1 | FedEx Ground- Reading (Aviation), PA | 2.7% | 55.5% | | | | | 615 Aviation Road | Reading | Berks | PA | 19601 | Industrial | Warehouse/Distribution | 2023 | NAP | 251,028 | SF | | 23,990,000 | 23,990,000 | 23,990,000 | | | | | | | | | | | | | | | | | | | | | | | | | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 2,507,024 | 0 | 2,507,024 | 24,286 | 0 | 2,482,738 | | | | | 44,000,000 | As Is | 11/15/2023 | | | 100.0% | 2/1/2024 | Yes | FedEx Ground | 251,028 | 100.0% | 1/31/2033 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10/2/2023 | NAP | 10/2/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 7.02 | Property | 1 | Hy-Vee - Kansas City (64th), MO | 0.9% | 17.8% | | | | | 5330 Northwest 64th Street | Kansas City | Platte | MO | 64151 | Retail | Single Tenant | 2010 | NAP | 88,588 | SF | | 7,700,000 | 7,700,000 | 7,700,000 | | | | | | | | | | | | | | | | | | | | | | | | | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 1,167,303 | 0 | 1,167,303 | 11,961 | 0 | 1,155,342 | | | | | 19,000,000 | As Is | 11/17/2023 | | | 100.0% | 2/1/2024 | Yes | Hy-Vee | 88,588 | 100.0% | 7/18/2031 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 1/8/2024 | NAP | 11/30/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 7.03 | Property | 1 | Stop & Shop - Fall River (Rodman), MA | 0.6% | 11.6% | | | | | 501 Rodman Street | Fall River | Bristol | MA | 02721 | Retail | Single Tenant | 1997 | NAP | 70,950 | SF | | 5,030,000 | 5,030,000 | 5,030,000 | | | | | | | | | | | | | | | | | | | | | | | | | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 780,750 | 0 | 780,750 | 25,433 | 0 | 755,317 | | | | | 13,150,000 | As Is | 11/27/2023 | | | 100.0% | 2/1/2024 | Yes | Stop & Shop | 70,950 | 100.0% | 12/31/2038 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 11/29/2023 | NAP | 11/27/2023 | NAP | NAP | Yes - A | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 7.04 | Property | 1 | Tractor Supply - Athol (Athol Crossings), ID | 0.3% | 5.7% | | | | | 7032 East Athol Crossings Road | Athol | Kootenai | ID | 83801 | Retail | Single Tenant | 2023 | NAP | 21,910 | SF | | 2,480,000 | 2,480,000 | 2,480,000 | | | | | | | | | | | | | | | | | | | | | | | | | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 451,250 | 0 | 451,250 | 3,386 | 0 | 447,864 | | | | | 7,560,000 | As Is | 11/28/2023 | | | 100.0% | 2/1/2024 | Yes | Tractor Supply | 21,910 | 100.0% | 9/30/2044 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10/30/2023 | NAP | 10/30/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 7.05 | Property | 1 | Dollar Tree - Amarillo (Arden), TX | 0.1% | 1.6% | | | | | 7110 Arden Road | Amarillo | Potter | TX | 79109 | Retail | Single Tenant | 2023 | NAP | 10,052 | SF | | 710,000 | 710,000 | 710,000 | | | | | | | | | | | | | | | | | | | | | | | | | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 128,236 | 0 | 128,236 | 0 | 0 | 128,236 | | | | | 1,975,000 | As Is | 11/22/2023 | | | 100.0% | 2/1/2024 | Yes | Dollar Tree | 10,052 | 100.0% | 11/30/2033 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 11/21/2023 | NAP | 12/5/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 7.06 | Property | 1 | Dollar Tree - Abilene (Industrial), TX | 0.1% | 1.6% | | | | | 948 East Industrial Boulevard | Abilene | Taylor | TX | 79602 | Retail | Single Tenant | 2023 | NAP | 10,136 | SF | | 680,000 | 680,000 | 680,000 | | | | | | | | | | | | | | | | | | | | | | | | | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 123,975 | 0 | 123,975 | 0 | 0 | 123,975 | | | | | 1,900,000 | As Is | 11/22/2023 | | | 100.0% | 2/1/2024 | Yes | Dollar Tree | 10,136 | 100.0% | 11/30/2033 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 11/21/2023 | NAP | 12/6/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 7.07 | Property | 1 | Dollar General - Flint (Linden Creek), MI | 0.1% | 1.4% | | | | | 4505 Linden Creek Parkway | Flint | Genesee | MI | 48507 | Retail | Single Tenant | 2023 | NAP | 10,697 | SF | | 600,000 | 600,000 | 600,000 | | | | | | | | | | | | | | | | | | | | | | | | | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 109,250 | 0 | 109,250 | 643 | 0 | 108,607 | | | | | 1,700,000 | As Is | 11/22/2023 | | | 100.0% | 2/1/2024 | Yes | Dollar General | 10,697 | 100.0% | 9/30/2038 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 11/15/2023 | NAP | 11/15/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 7.08 | Property | 1 | Family Dollar /Dollar Tree Combo - Dayton (Troy), OH | 0.1% | 1.3% | | | | | 645 Troy Street | Dayton | Montgomery | OH | 45404 | Retail | Single Tenant | 1958 | 2023 | 12,615 | SF | | 580,000 | 580,000 | 580,000 | | | | | | | | | | | | | | | | | | | | | | | | | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 106,247 | 0 | 106,247 | 1,562 | 0 | 104,685 | | | | | 1,650,000 | As Is | 11/17/2023 | | | 100.0% | 2/1/2024 | Yes | Family Dollar /Dollar Tree | 12,615 | 100.0% | 5/31/2033 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10/19/2023 | NAP | 10/19/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 7.09 | Property | 1 | Dollar General - Goshen (Kercher), IN | 0.1% | 1.3% | | | | | 811 East Kercher Road | Goshen | Elkhart | IN | 46526 | Retail | Single Tenant | 2023 | NAP | 10,925 | SF | | 560,000 | 560,000 | 560,000 | | | | | | | | | | | | | | | | | | | | | | | | | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 102,598 | 0 | 102,598 | 1,188 | 0 | 101,410 | | | | | 1,600,000 | As Is | 11/21/2023 | | | 100.0% | 2/1/2024 | Yes | Dollar General | 10,925 | 100.0% | 9/30/2038 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 11/14/2023 | NAP | 11/14/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 7.10 | Property | 1 | Dollar General - Saginaw (East), MI | 0.1% | 1.2% | | | | | 4930 East Road | Saginaw | Saginaw | MI | 48601 | Retail | Single Tenant | 2022 | NAP | 10,887 | SF | | 500,000 | 500,000 | 500,000 | | | | | | | | | | | | | | | | | | | | | | | | | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 91,194 | 0 | 91,194 | 989 | 0 | 90,205 | | | | | 1,425,000 | As Is | 11/22/2023 | | | 100.0% | 2/1/2024 | Yes | Dollar General | 10,887 | 100.0% | 9/30/2037 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 11/15/2023 | NAP | 11/15/2023 | NAP | NAP | Yes - AE | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 7.11 | Property | 1 | Dollar General - Del Rio (Cienegas), TX | 0.0% | 1.0% | | | | | 2439 Cienegas Road | Del Rio | Val Verde | TX | 78840 | Retail | Single Tenant | 2019 | NAP | 9,229 | SF | | 420,000 | 420,000 | 420,000 | | | | | | | | | | | | | | | | | | | | | | | | | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 77,995 | 0 | 77,995 | 2,200 | 0 | 75,795 | | | | | 1,215,000 | As Is | 11/3/2023 | | | 100.0% | 2/1/2024 | Yes | Dollar General | 9,229 | 100.0% | 2/28/2034 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 11/1/2023 | NAP | 10/16/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 8 | Loan | 1 | 61 S Paramus Road | 3.7% | 100.0% | SGFC | SGFC | NAP | NAP | 61 South Paramus Road | Paramus | Bergen | NJ | 07652 | Office | Suburban | 1985 | 2019 | 279,699 | SF | 120.13 | 33,600,000 | 33,600,000 | 33,600,000 | 7.08100% | NAP | 201,021.72 | NAP | 2,412,260.64 | Interest Only | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 12/28/2023 | 1 | 1 | 2/1/2024 | NAP | 1/1/2029 | 1/1/2029 | 5 | 5 | L(36),YM1(17),O(7) | 9,123,044 | 3,881,788 | 5,241,255 | 9/30/2023 | T-12 | 9,030,415 | 3,629,240 | 5,401,175 | 12/31/2022 | T-12 | 8,550,338 | 3,833,188 | 4,717,150 | 12/31/2021 | T-12 | 91.0% | 9,061,075 | 3,947,255 | 5,113,820 | 69,925 | 349,624 | 4,694,272 | 2.12 | 1.95 | 15.2% | 14.0% | 56,700,000 | As Is | 11/8/2023 | 59.3% | 59.3% | 95.3% | 12/1/2023 | No | Morgan Stanley | 77,336 | 27.6% | 10/31/2028 | UBS | 45,016 | 16.1% | 06/30/2026 | Decotiis Fitzpatrick Cole & Giblin LLP | 42,481 | 15.2% | 12/31/2030 | Lincoln National | 15,638 | 5.6% | 06/30/2027 | Frieslandcampina Ingredients | 15,320 | 5.5% | 12/31/2025 | 11/21/2023 | NAP | 11/15/2023 | NAP | NAP | No | Leasehold | 12/31/2116 | None | 375,000 | Yes | 187,501 | 62,500 | 0 | Springing | 540,000 | 5,827 | 0 | 5,000,000 | Springing | 5,000,000 | 0 | 0 | 0 | 27,500 | 1,313,963 | 0 | Unfunded Obligation Reserve ($1,282,713.36), Ground Lease Reserve ($31,250) | 0 | NAP | NAP | Springing | Springing | Yes | Yes | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Crown Acquisitions, Inc., First Mile Capital, LLC and Richard Chera | Richard Chera | No | No | Acquisition | No | 33,600,000 | 29,074,664 | 0 | 0 | 62,674,664 | 0 | 54,712,893 | 892,806 | 7,068,964 | 0 | 0 | 62,674,664 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 9 | Loan | 1 | 111 West 19th Street | 3.7% | 100.0% | CREFI | CREFI | NAP | NAP | 111 West 19th Street | New York | New York | NY | 10011 | Office | CBD | 1901 | 2015 | 189,731 | SF | 173.93 | 33,000,000 | 33,000,000 | 33,000,000 | 6.95000% | NAP | 193,779.51 | NAP | 2,325,354.12 | Interest Only | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 12/21/2023 | 1 | 6 | 2/6/2024 | NAP | 1/6/2029 | 1/6/2029 | 0 | 0 | L(25),D(32),O(3) | 11,174,940 | 3,475,434 | 7,699,506 | 9/30/2023 | T-12 | 10,828,866 | 3,235,675 | 7,593,191 | 12/31/2022 | T-12 | 10,002,969 | 3,068,825 | 6,934,144 | 12/31/2021 | T-12 | 87.5% | 11,268,117 | 3,822,862 | 7,445,254 | 37,946 | 358,908 | 7,048,400 | 3.20 | 3.03 | 22.6% | 21.4% | 121,000,000 | As Is | 11/15/2023 | 27.3% | 27.3% | 87.9% | 10/1/2023 | No | RELX Inc. | 46,000 | 24.2% | 10/31/2025 | Kleinfeld Bridal Corp. | 31,231 | 16.5% | 9/30/2037 | DineInFresh, Inc. | 23,000 | 12.1% | 10/31/2027 | The Barbarian Group, LLC | 23,000 | 12.1% | 6/30/2024 | NFE Management LLC | 23,000 | 12.1% | 10/31/2024 | 11/21/2023 | NAP | 11/21/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 360,289 | 180,144 | 0 | Springing | 0 | 3,162 | 0 | 3,000,000 | Springing | 3,000,000 | 0 | 0 | 0 | 22,500 | 3,384,905 | 0 | Building Improvements Reserve | 0 | NAP | NAP | Hard | Springing | Yes | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Steven Kaufman | Steven Kaufman | No | No | Refinance | No | 33,000,000 | 75,000 | 0 | 0 | 33,075,000 | 25,108,653 | 0 | 1,198,653 | 6,767,693 | 0 | 0 | 33,075,000 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 10 | Loan | 1 | 333 South Spruce Street | 3.2% | 100.0% | CREFI | CREFI | NAP | NAP | 333 South Spruce Street | Manteno | Kankakee | IL | 60950 | Industrial | Warehouse/Distribution | 1991 | NAP | 1,546,575 | SF | 50.92 | 28,750,000 | 28,750,000 | 28,750,000 | 6.60000% | NAP | 160,321.18 | NAP | 1,923,854.16 | Interest Only | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 12/15/2023 | 1 | 6 | 2/6/2024 | NAP | 1/6/2029 | 1/6/2029 | 0 | 0 | L(4),YM1(49),O(7) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 9,149,706 | 274,491 | 8,875,215 | 154,658 | 0 | 8,720,558 | 1.68 | 1.65 | 11.3% | 11.1% | 140,700,000 | As Is | 10/20/2023 | 56.0% | 56.0% | 100.0% | 2/6/2024 | Yes | Gotion, Inc. | 1,546,575 | 100.0% | 11/30/2038 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 8/8/2023 | NAP | 8/4/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 425,726 | 85,145 | 217,592 | 217,592 | 950,000 | 12,888 | 0 | 0 | Springing | 0 | 0 | 0 | 0 | 40,625 | 9,356,000 | 0 | Security Deposit Reserve | 0 | NAP | NAP | Hard | Springing | Yes | Yes | Yes | No | 28,750,000 | 50,000,000 | 278,819.45 | 439,140.63 | NAP | NAP | 78,750,000 | 439,140.63 | 56.0% | 1.65 | 11.3% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Gotion, Inc. | Gotion, Inc. | No | No | Acquisition | No | 78,750,000 | 77,225,947 | 0 | 9,356,000 | 165,331,947 | 0 | 139,500,000 | 14,842,004 | 10,989,943 | 0 | 0 | 165,331,947 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 11 | Loan | 1 | Crescent Center | 3.2% | 100.0% | GSC2 | GCMC | NAP | NAP | 6075 Poplar Avenue | Memphis | Shelby | TN | 38119 | Office | Suburban | 1986 | 2001, 2020 | 356,188 | SF | 145.99 | 28,750,000 | 28,750,000 | 28,750,000 | 7.51300% | NAP | 182,498.94 | NAP | 2,189,987.28 | Interest Only | No | Actual/360 | 60 | 56 | 60 | 56 | 0 | 0 | 9/22/2023 | 4 | 6 | 11/6/2023 | NAP | 10/6/2028 | 10/6/2028 | 0 | 0 | L(28),D(25),O(7) | 8,971,074 | 3,900,976 | 5,070,098 | 8/31/2023 | T-12 | 8,083,455 | 3,665,097 | 4,418,358 | 12/31/2022 | T-12 | 7,104,048 | 3,419,564 | 3,684,484 | 12/31/2021 | T-12 | 88.3% | 10,935,948 | 4,160,455 | 6,775,493 | 71,238 | 541,138 | 6,163,117 | 1.71 | 1.56 | 13.0% | 11.9% | 81,100,000 | Hypothetical As Is | 8/3/2023 | 64.1% | 64.1% | 87.6% | 11/13/2023 | No | Butler Snow LLP | 55,581 | 15.6% | 6/30/2035 | Simmons Bank | 44,081 | 12.4% | 1/31/2038 | Benefit Recovery Group, LLC | 19,864 | 5.6% | 1/31/2034 | Diversified Trust Company | 17,579 | 4.9% | 4/30/2033 | Wells Fargo Clearing Services | 15,637 | 4.4% | 4/30/2028 | 8/17/2023 | NAP | 8/17/2023 | 8/17/2023 | 14% | No | Fee | NAP | NAP | NAP | NAP | 530,919 | 132,730 | 92,115 | 9,211 | 0 | 5,936 | 0 | 500,000 | 53,428 | 0 | 0 | 0 | 0 | 0 | 1,308,459 | Springing | BRG Free Rent Reserve (Upfront: $162,500), Simmons Bank Free Rent Reserve (Upfront: $917,040, Monthly: Springing), Outstanding TI/LC Reserve (Upfront: $228,919) | 0 | NAP | NAP | Hard | Springing | Yes | Yes | Yes | No | 28,750,000 | 23,250,000 | 147,586.10 | 330,085.05 | NAP | NAP | 52,000,000 | 330,085.05 | 64.1% | 1.56 | 13.0% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | David Long and Peggy Long | David Long and Peggy Long | No | No | Refinance | No | 52,000,000 | 2,672,977 | 0 | 0 | 54,672,977 | 49,625,707 | 0 | 2,615,777 | 2,431,492 | 0 | 0 | 54,672,977 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 12 | Loan | 1 | Staten Island Mall | 3.2% | 100.0% | DBNY, WFBNA, Barclays | GACC | Group A | NAP | 2655 Richmond Avenue | Staten Island | Richmond | NY | 10314 | Retail | Super Regional Mall | 1972 | 1993, 2018 | 995,900 | SF | 200.82 | 28,500,000 | 28,500,000 | 28,500,000 | 7.53400% | NAP | 181,417.67 | NAP | 2,177,012.04 | Interest Only | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 1/18/2024 | 0 | 1 | 3/1/2024 | NAP | 2/1/2029 | 2/1/2029 | 0 | 0 | L(24),D(29),O(7) | 62,702,116 | 26,119,900 | 36,582,216 | 10/31/2023 | T-12 | 64,758,020 | 31,478,198 | 33,279,822 | 12/31/2022 | T-12 | 56,053,376 | 32,087,459 | 23,965,918 | 12/31/2021 | T-12 | 87.5% | 63,861,272 | 30,795,311 | 33,065,961 | 199,180 | 995,900 | 31,870,881 | 2.16 | 2.09 | 16.5% | 15.9% | 467,000,000 | As Is | 8/22/2023 | 42.8% | 42.8% | 87.3% | 11/30/2023 | No | Primark | 73,647 | 7.4% | 6/30/2027 | AMC Theatres | 54,000 | 5.4% | 2/28/2034 | Hobby Lobby | 42,768 | 4.3% | 5/31/2033 | Dave & Buster's | 41,241 | 4.3% | 1/31/2033 | Lidl | 37,403 | 3.8% | 1/31/2039 | 9/5/2023 | NAP | 9/5/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 0 | Springing | 0 | Springing | 497,950 | 4,580,787 | Springing | 1,991,800 | 0 | 0 | 0 | 0 | 403,197 | Springing | Gap Rent Reserve (403,197), Anchor Tenant Reserve Funds (Springing), Excess Cash Flow Reserve (Springing) | 0 | NAP | NAP | Hard | Springing | Yes | Yes | Yes | NAP | 28,500,000 | 171,500,000 | 1,091,688.81 | 1,273,106.48 | NAP | NAP | 200,000,000 | 1,273,106.48 | 42.8% | 2.09 | 16.5% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | BPR Nimbus LLC | BPR Nimbus LLC | No | No | Refinance | NAP | 200,000,000 | 11,094,744 | 0 | 0 | 211,094,744 | 204,429,707 | 0 | 1,681,053 | 4,983,984 | 0 | 0 | 211,094,744 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 13 | Loan | 1 | Highland Hills Apartments | 3.0% | 100.0% | SMC | SMC | NAP | NAP | 20 North Hill Parkway | Jackson | Hinds | MS | 39206 | Multifamily | Garden | 1967 | 2020-2023 | 454 | Units | 59,691.63 | 27,100,000 | 27,100,000 | 27,100,000 | 5.59100% | NAP | 128,017.08 | NAP | 1,536,204.90 | Interest Only | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 12/22/2023 | 1 | 6 | 2/6/2024 | NAP | 1/6/2029 | 1/6/2029 | 0 | 0 | L(25),D(31),O(4) | 4,056,183 | 1,746,895 | 2,309,289 | 10/31/2023 | T-12 | 3,815,855 | 1,649,407 | 2,166,448 | 12/31/2022 | T-12 | NAV | NAV | NAV | NAV | NAV | 80.1% | 4,309,406 | 1,814,909 | 2,494,497 | 136,200 | 0 | 2,358,297 | 1.62 | 1.54 | 9.2% | 8.7% | 42,200,000 | As Is | 11/29/2023 | 64.2% | 64.2% | 94.7% | 11/20/2023 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 11/29/2023 | NAP | 11/29/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 0 | 15,324 | 183,020 | 31,242 | 0 | 11,350 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100,000 | 0 | 0 | | 0 | NAP | NAP | Soft | Springing | Yes | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Pinchos D. Shemano and Heyme Bleier | Pinchos D. Shemano and Heyme Bleier | No | Yes | Refinance | No | 27,100,000 | 0 | 0 | 0 | 27,100,000 | 23,127,069 | 0 | 2,994,017 | 283,020 | 695,894 | 0 | 27,100,000 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 14 | Loan | 1 | Oak Park Commons | 3.0% | 100.0% | SGFC | SGFC | NAP | NAP | West 95th Street and Quivira Road | Lenexa | Johnson | KS | 66215 | Retail | Anchored | 1986-1992/2012/2022 | NAP | 342,137 | SF | 78.92 | 27,000,000 | 27,000,000 | 27,000,000 | 6.77400% | NAP | 154,531.88 | NAP | 1,854,382.56 | Interest Only | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 12/27/2023 | 1 | 1 | 2/1/2024 | NAP | 1/1/2029 | 1/1/2029 | 5 | 5 | L(25),D(28),O(7) | 6,004,401 | 2,148,666 | 3,855,735 | 9/30/2023 | T-12 | 5,887,170 | 2,278,634 | 3,608,536 | 12/31/2022 | T-12 | 5,925,181 | 2,409,915 | 3,515,266 | 12/31/2021 | T-12 | 84.8% | 5,972,303 | 2,178,174 | 3,794,129 | 68,427 | 171,069 | 3,554,633 | 2.05 | 1.92 | 14.1% | 13.2% | 41,900,000 | As Is | 11/10/2023 | 64.4% | 64.4% | 87.4% | 12/5/2023 | No | Hobby Lobby | 63,000 | 18.4% | 07/31/2025 | Ross Dress for Less | 25,000 | 7.3% | 01/31/2030 | Petco | 22,000 | 6.4% | 03/31/2024 | K&G Men's Company, Inc | 20,010 | 5.8% | 02/29/2028 | Northern Tool & Equipment | 17,018 | 5.0% | 08/31/2025 | 10/25/2023 | NAP | 11/20/2023 | NAP | NAP | No | Fee/Leasehold | 12/31/2103 | None | 1 | No | 336,853 | 88,159 | 0 | Springing | 1,282,469 | 5,702 | 0 | 1,282,898 | 9,672 | 400,000 | 0 | Springing | 513,206 | 92,531 | 511,344 | 25,000 | Anchor Tenant Rollover Reserve (Upfront: $250,000, Monthly: $25,000), Free Rent Reserve (Upfront: $261,344.48) | Anchor Tenant Rollover Reserve ($600,000) | NAP | NAP | Springing | Springing | No | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Francis Greenburger, Chris Brochert and Daniel Stern | Francis Greenburger, Chris Brochert and Daniel Stern | No | Yes | Acquisition | No | 27,000,000 | 16,362,395 | 0 | 1,900,000 | 45,262,395 | 0 | 40,000,000 | 1,631,300 | 3,631,095 | 0 | 0 | 45,262,395 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 15 | Loan | 1 | Garden State Plaza | 2.8% | 100.0% | GSBI, GACC, Natixis | GSMC, GACC | NAP | NAP | 1 Garden State Plaza | Paramus | Bergen | NJ | 07652 | Retail | Super Regional Mall | 1957 | 1981, 1986, 1993, 1994, 2014, 2017, 2021 | 2,057,906 | SF | 255.11 | 25,000,000 | 25,000,000 | 25,000,000 | 6.61300% | NAP | 139,684.32 | NAP | 1,676,211.84 | Interest Only | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 12/11/2023 | 1 | 6 | 2/6/2024 | NAP | 1/6/2029 | 1/6/2029 | 0 | 0 | L(25),DorYM1(28),O(7) | 137,298,631 | 39,504,321 | 97,794,310 | 9/30/2023 | T-12 | 134,950,113 | 38,311,371 | 96,638,742 | 12/31/2022 | T-12 | 135,602,310 | 36,432,590 | 99,169,720 | 12/31/2021 | T-12 | 92.1% | 144,104,515 | 38,201,821 | 105,902,693 | 245,165 | 931,746 | 104,725,782 | 3.01 | 2.98 | 20.2% | 19.9% | 1,814,000,000 | As Is | 10/23/2023 | 28.9% | 28.9% | 94.9% | 9/13/2023 | No | Macy's | 439,632 | 21.4% | 7/31/2026 | Nordstrom | 245,348 | 11.9% | 7/31/2026 | Neiman Marcus | 141,139 | 6.9% | 8/31/2041 | AMC | 95,818 | 4.7% | 5/31/2027 | Forever 21 | 38,218 | 1.9% | 4/30/2025 | 12/1/2023 | NAP | 10/31/2023 | NAP | NAP | Yes - AE | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 0 | Springing | 0 | Springing | 367,747 | 0 | Springing | 1,838,735 | 0 | 0 | 0 | 0 | 0 | 0 | NAP | 0 | NAP | NAP | Hard | Springing | Yes | No | Yes | No | 25,000,000 | 500,000,000 | 2,793,686.34 | 2,933,370.66 | NAP | NAP | 525,000,000 | 2,933,370.66 | 28.9% | 2.98 | 20.2% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Unibail-Rodamco-Westfield and affiliates of The Prudential Assurance Company Limited | NAP | No | No | Refinance | No | 525,000,000 | 8,659,157 | 0 | 0 | 533,659,157 | 526,745,637 | 0 | 6,913,520 | 0 | 0 | 0 | 533,659,157 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 16 | Loan | 1 | Whole Foods at Gateway Center | 2.7% | 100.0% | CREFI | CREFI | NAP | NAP | 7230-7380 Orchard Lake Road | West Bloomfield | Oakland | MI | 48322 | Retail | Anchored | 1999 | NAP | 156,735 | SF | 153.12 | 24,000,000 | 24,000,000 | 24,000,000 | 7.70000% | NAP | 156,138.89 | NAP | 1,873,666.68 | Interest Only | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 12/19/2023 | 1 | 6 | 2/6/2024 | NAP | 1/6/2029 | 1/6/2029 | 0 | 0 | L(25),D(32),O(3) | 2,908,777 | 888,085 | 2,020,692 | 9/30/2023 | T-12 | 2,913,143 | 845,092 | 2,068,050 | 12/31/2022 | T-12 | 2,701,060 | 762,253 | 1,938,808 | 12/31/2021 | T-12 | 95.8% | 3,387,455 | 847,358 | 2,540,097 | 23,510 | 50,005 | 2,466,582 | 1.36 | 1.32 | 10.6% | 10.3% | 37,290,000 | As Is | 10/19/2023 | 64.4% | 64.4% | 100.0% | 11/1/2023 | No | Dunham's | 37,391 | 23.9% | 1/31/2025 | Whole Foods Market | 35,292 | 22.5% | 10/31/2033 | Picklerage | 26,797 | 17.1% | 4/30/2034 | Henry Ford Optimeyes | 20,214 | 12.9% | 10/31/2031 | Schuler Books | 18,818 | 12.0% | 2/28/2033 | 11/13/2023 | NAP | 11/13/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 80,707 | 40,353 | 35,345 | 5,049 | 0 | 1,959 | 0 | 500,000 | 13,061 | 750,000 | 0 | 0 | 0 | 0 | 571,744 | Springing | Unfunded Obligations Reserve (Upfront: $571,744.47), Condominium Assessments Reserve (Monthly: Springing) | 0 | NAP | NAP | Hard | Springing | Yes | Yes | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Allan Adelson | Allan Adelson | No | No | Refinance | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 17 | Loan | 1 | University Shoppes | 2.6% | 100.0% | SMC | SMC | NAP | NAP | 1601-1615 Southwest 107th Avenue | Miami | Miami-Dade | FL | 33165 | Mixed Use | Office/Retail | 1987 | NAP | 146,765 | SF | 159.78 | 23,450,000 | 23,450,000 | 23,450,000 | 6.50000% | NAP | 128,785.01 | NAP | 1,545,420.14 | Interest Only | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 1/12/2024 | 0 | 6 | 3/6/2024 | NAP | 2/6/2029 | 2/6/2029 | 0 | 0 | L(24),D(32),O(4) | 4,740,830 | 1,042,385 | 3,698,445 | 11/30/2023 | T-12 | 3,713,032 | 915,371 | 2,797,662 | 12/31/2022 | T-12 | 3,099,008 | 821,374 | 2,277,634 | 12/31/2021 | T-12 | 95.0% | 4,792,165 | 1,270,954 | 3,521,211 | 29,353 | 117,412 | 3,374,446 | 2.28 | 2.18 | 15.0% | 14.4% | 49,600,000 | As Is | 11/27/2023 | 47.3% | 47.3% | 100.0% | 1/10/2024 | No | Century Medical Center, LLC | 42,440 | 28.9% | 4/30/2031 | Access Medical Group | 17,532 | 11.9% | 11/22/2032 | Walgreens | 15,772 | 10.7% | 11/30/2040 | Cano (University) Health | 14,688 | 10.0% | 3/31/2024 | South Florida Health (YouFit) | 11,472 | 7.8% | 1/31/2029 | 12/4/2023 | NAP | 12/4/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 102,706 | 25,677 | 349,193 | 34,919 | 0 | 2,446 | 0 | 200,000 | 15,288 | 400,000 | 0 | 0 | 0 | 12,500 | 3,800,000 | Springing | Tenant Reserve (Upfront: $3,800,000); Major Tenant Reserve (Monthly: Springing) | $800,000.00 (Major Tenant Reserve) | NAP | NAP | Springing | Springing | Yes | Yes | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Gabriel Harkham | Gabriel Harkham | No | No | Refinance | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 18 | Loan | 2 | OPI Portfolio | 2.5% | | UBS AG | UBS AG | NAP | NAP | Various | Various | Various | Various | Various | Office | Various | Various | Various | 483,084 | SF | 112.40 | 23,000,000 | 23,000,000 | 23,000,000 | 7.67100% | NAP | 149,069.55 | NAP | 1,788,834.60 | Interest Only | No | Actual/360 | 60 | 56 | 60 | 56 | 0 | 0 | 9/13/2023 | 4 | 6 | 11/6/2023 | NAP | 10/6/2028 | 10/6/2028 | 0 | 0 | L(12),YM1(41),O(7) | 8,679,945 | 1,418,696 | 7,261,249 | 7/31/2023 | T-12 | 8,612,280 | 1,364,269 | 7,248,011 | 12/31/2022 | T-12 | 7,893,499 | 1,216,548 | 6,676,951 | 12/31/2021 | T-12 | 99.0% | 8,946,010 | 1,449,578 | 7,496,432 | 120,771 | 0 | 7,375,661 | 1.78 | 1.75 | 13.8% | 13.6% | 112,100,000 | As Is | Various | 48.4% | 48.4% | 100.0% | 2/6/2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 0 | Springing | 791 | Springing | 0 | Springing | 0 | 0 | Springing | 2,173,883 | 0 | 0 | 0 | 11,550 | 11,674,256 | Springing | Primerica TATILC Reserve (Upfront: $10,678,756), Rent Concession Reserve (Upfront: $872,849.70), Primerica Work Reserve (Upfront: $122,650), Material Tenant Funds Reserve (Monthly: Springing) | Material Tenant Funds Reserve (12 months of Monthly Material Tenant Deposits) | NAP | NAP | Hard | Springing | Yes | Yes | Yes | Yes | 23,000,000 | 31,300,000 | 202,864.21 | 351,933.76 | NAP | NAP | 54,300,000 | 351,933.76 | 48.4% | 1.75 | 13.8% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Office Properties Income Trust | Office Properties Income Trust | No | No | Recapitalization | | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 18.01 | Property | 1 | 1 Primerica Parkway | 1.8% | 71.4% | | | | | 1 Primerica Parkway | Duluth | Gwinnett | GA | 30099 | Office | Suburban | 2013 | NAP | 344,476 | SF | | 16,426,998 | 16,426,998 | 16,426,998 | | | | | | | | | | | | | | | | | | | | | | | | | 5,386,829 | 286,119 | 5,100,710 | 7/31/2023 | T-12 | 5,348,016 | 295,057 | 5,052,958 | 12/31/2022 | T-12 | 5,255,373 | 293,225 | 4,962,148 | 12/31/2021 | T-12 | 99.0% | 5,648,558 | 307,289 | 5,341,269 | 86,119 | 0 | 5,255,150 | | | | | 77,100,000 | As Is | 7/11/2023 | | | 100.0% | 2/6/2024 | Yes | Primerica Life Insurance Company | 344,476 | 100.0% | 12/31/2035 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 7/14/2023 | NAP | 5/16/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 18.02 | Property | 1 | 701 Clay Avenue | 0.7% | 28.6% | | | | | 701 Clay Avenue | Waco | McLennan | TX | 76706 | Office | CBD | 1997 | 2021 | 138,608 | SF | | 6,573,002 | 6,573,002 | 6,573,002 | | | | | | | | | | | | | | | | | | | | | | | | | 3,293,116 | 1,132,577 | 2,160,539 | 7/31/2023 | T-12 | 3,264,264 | 1,069,212 | 2,195,052 | 12/31/2022 | T-12 | 2,638,126 | 923,323 | 1,714,803 | 12/31/2021 | T-12 | 99.0% | 3,297,452 | 1,142,289 | 2,155,163 | 34,652 | 0 | 2,120,511 | | | | | 35,000,000 | As Is | 7/12/2023 | | | 100.0% | 2/6/2024 | Yes | GSA - Veterans Benefits Administration | 138,608 | 100.0% | 12/29/2035 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 7/14/2023 | NAP | 5/16/2023 | NAP | NAP | Yes - AE | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 19 | Loan | 1 | Capitol Crossings Apartments | 2.3% | 100.0% | Arbor | BMO | NAP | NAP | 18 North Manning Boulevard, 666 Third Street and 14 North Manning Boulevard | Albany | Albany | NY | 12206 | Multifamily | Garden | 1989 | 2022 | 279 | Units | 73,118.28 | 20,400,000 | 20,400,000 | 20,400,000 | 7.29500% | NAP | 125,737.43 | NAP | 1,508,849.16 | Interest Only | No | Actual/360 | 60 | 57 | 60 | 57 | 0 | 0 | 10/27/2023 | 3 | 6 | 12/6/2023 | NAP | 11/6/2028 | 11/6/2028 | 0 | 0 | YM1(53),O(7) | 2,624,351 | 1,260,053 | 1,364,298 | 8/31/2023 | T-12 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 93.2% | 3,348,157 | 1,323,810 | 2,024,346 | 69,750 | 0 | 1,954,596 | 1.34 | 1.30 | 9.9% | 9.6% | 37,000,000 | As Is | 9/13/2023 | 55.1% | 55.1% | 96.4% | 10/1/2023 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 4/14/2023 | NAP | 4/14/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 125,766 | 31,441 | 77,454 | 7,745 | 17,438 | 5,813 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 82,813 | 0 | 0 | | 0 | NAP | NAP | Springing | Springing | Yes | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Eliezer Gottlieb, Moshe Greenzweig and Jacob Weinberger | Eliezer Gottlieb, Moshe Greenzweig and Jacob Weinberger | No | No | Refinance | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 20 | Loan | 1 | 91 Crosby Street | 2.2% | 100.0% | BMO | BMO | NAP | NAP | 91 Crosby Street | New York | New York | NY | 10022 | Mixed Use | Multifamily/Retail | 1898 | 2014-2015 | 8 | Units | 2,500,000.00 | 20,000,000 | 20,000,000 | 20,000,000 | 6.90000% | NAP | 116,597.22 | NAP | 1,399,166.64 | Interest Only | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 12/22/2023 | 1 | 6 | 2/6/2024 | NAP | 1/6/2029 | 1/6/2029 | 0 | 0 | L(25),D(31),O(4) | 2,213,712 | 438,657 | 1,775,055 | 11/30/2023 | T-12 | 2,237,824 | 518,222 | 1,719,602 | 12/31/2022 | T-12 | 1,901,639 | 421,487 | 1,480,152 | 12/31/2021 | T-12 | 83.7% | 2,268,628 | 488,417 | 1,780,211 | 2,000 | 3,150 | 1,775,061 | 1.27 | 1.27 | 8.9% | 8.9% | 33,200,000 | As Is | 10/5/2023 | 60.2% | 60.2% | 100.0% | 12/6/2023 | No | Leap Services Inc | 1,500 | 47.6% | 5/31/2026 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10/13/2023 | NAP | 10/13/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 43,585 | 21,792 | 14,438 | 4,813 | 0 | 167 | 0 | 0 | 263 | 0 | 0 | 0 | 0 | 10,175 | 28,840 | 0 | Free Rent Reserve | 0 | NAP | NAP | Soft (Residential); Hard (Commercial) | Springing | Yes | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Atit Javeri | Atit Javeri | No | No | Recapitalization | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 21 | Loan | 2 | Bridgeview Student Housing Portfolio | 2.1% | | GACC | GACC | NAP | NAP | Various | Various | Tarrant | TX | Various | Multifamily | Student Housing | 2011 | 2022 | 1,305 | Beds | 14,750.96 | 19,250,000 | 19,250,000 | 19,250,000 | 5.30000% | NAP | 86,201.68 | NAP | 1,034,420.16 | Interest Only | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 1/12/2024 | 0 | 6 | 3/6/2024 | NAP | 2/6/2029 | 2/6/2029 | 0 | 0 | L(24),D(29),O(7) | 3,981,439 | 2,292,730 | 1,688,709 | 11/30/2023 | T-12 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 4,358,248 | 2,183,310 | 2,174,939 | 59,550 | 0 | 2,115,389 | 2.10 | 2.04 | 11.3% | 11.0% | 37,080,000 | As Is | 11/15/2023 | 51.9% | 51.9% | 97.8% | 1/9/2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 119,971 | 59,986 | 0 | Springing | 0 | 4,963 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,089,000 | Springing | Rent Replication Funds (Upfront: $1,089,000, Ongoing: Springing), Low DSCR Cure Deposit Account (Ongoing: Springing) | 0 | NAP | NAP | Soft | Springing | Yes | Yes | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Steven D. May | Steven D. May | Yes | No | Refinance | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 21.01 | Property | 1 | Liberty Lofts | 1.2% | 54.1% | | | | | 3517 South University Drive | Fort Worth | Tarrant | TX | 76109 | Multifamily | Student Housing | 2011 | 2022 | 495 | Beds | | 10,408,913 | 10,408,913 | 10,408,913 | | | | | | | | | | | | | | | | | | | | | | | | | 1,965,672 | 1,090,322 | 875,350 | 11/30/2023 | T-12 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 2,279,354 | 1,035,274 | 1,244,080 | 24,750 | 0 | 1,219,330 | | | | | 20,050,000 | As Is | 11/15/2023 | | | 100.0% | 1/9/2024 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 11/27/2023 | NAP | 11/27/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 21.02 | Property | 1 | Midtown Urban | 1.0% | 45.9% | | | | | 1121 UTA Boulevard | Arlington | Tarrant | TX | 76013 | Multifamily | Student Housing | 2011 | 2022 | 810 | Beds | | 8,841,087 | 8,841,087 | 8,841,087 | | | | | | | | | | | | | | | | | | | | | | | | | 2,015,767 | 1,202,408 | 813,359 | 11/30/2023 | T-12 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 2,078,895 | 1,148,036 | 930,859 | 34,800 | 0 | 896,059 | | | | | 17,030,000 | As Is | 11/15/2023 | | | 96.4% | 1/9/2024 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 11/27/2023 | NAP | 11/27/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 22 | Loan | 3 | Rosenberg Multifamily Portfolio | 2.1% | | BMO | BMO | NAP | NAP | Various | Various | Various | Various | Various | Multifamily | Various | Various | Various | 195 | Units | 98,717.95 | 19,250,000 | 19,250,000 | 19,250,000 | 7.30000% | NAP | 118,730.61 | NAP | 1,424,767.32 | Interest Only | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 1/17/2024 | 0 | 6 | 3/6/2024 | NAP | 2/6/2029 | 2/6/2029 | 0 | 0 | L(24),D(32),O(4) | 3,393,898 | 1,160,788 | 2,233,110 | 11/30/2023 | T-12 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 3,427,665 | 1,348,057 | 2,079,607 | 61,170 | 0 | 2,018,437 | 1.46 | 1.42 | 10.8% | 10.5% | 30,580,000 | As Is | Various | 62.9% | 62.9% | 97.9% | 12/1/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 68,811 | 22,937 | 80,294 | 10,037 | 204,750 | Springing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 69,616 | 0 | Springing | Common Charges Reserve | 0 | NAP | NAP | Springing | Springing | Yes | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Shloime Rosenberg | Shloime Rosenberg | No | No | Refinance | | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 22.01 | Property | 1 | Benjamin Banneker Plaza | 1.4% | 65.7% | | | | | 2114 West 6th Street | Chester | Delaware | PA | 19013 | Multifamily | Mid Rise | 1980 | NAP | 70 | Units | | 12,650,000 | 12,650,000 | 12,650,000 | | | | | | | | | | | | | | | | | | | | | | | | | 906,885 | 353,419 | 553,466 | 11/30/2023 | T-12 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 96.3% | 941,699 | 442,714 | 498,985 | 21,958 | 0 | 477,027 | | | | | 8,900,000 | As Is | 10/20/2023 | | | 100.0% | 12/1/2023 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10/27/2023 | NAP | 10/27/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 22.02 | Property | 1 | Claremont Manor Apartments | 0.5% | 23.4% | | | | | 2 Manor Drive | Claremont | Sullivan | NH | 03743 | Multifamily | Garden | 1973 | 2023 | 90 | Units | | 4,500,000 | 4,500,000 | 4,500,000 | | | | | | | | | | | | | | | | | | | | | | | | | 2,015,014 | 583,326 | 1,431,688 | 11/30/2023 | T-12 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 96.3% | 2,035,220 | 660,081 | 1,375,139 | 28,232 | 0 | 1,346,907 | | | | | 18,000,000 | As Is | 11/3/2023 | | | 100.0% | 12/1/2023 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10/27/2023 | NAP | 10/26/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 22.03 | Property | 1 | Clearview Apartments | 0.2% | 10.9% | | | | | 496-510 Garden Street | Hartford | Hartford | CT | 06112 | Multifamily | Garden | 1968 | NAP | 35 | Units | | 2,100,000 | 2,100,000 | 2,100,000 | | | | | | | | | | | | | | | | | | | | | | | | | 471,999 | 224,043 | 247,956 | 11/30/2023 | T-12 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 87.2% | 450,746 | 245,263 | 205,483 | 10,979 | 0 | 194,504 | | | | | 3,680,000 | As Is | 10/30/2023 | | | 88.6% | 12/1/2023 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10/30/2023 | NAP | 10/26/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 23 | Loan | 2 | Conway Multifamily Portfolio II | 1.7% | | UBS AG | UBS AG | NAP | NAP | Various | Various | Various | NY | Various | Multifamily | Various | Various | Various | 34 | Units | 454,411.76 | 15,450,000 | 15,450,000 | 15,450,000 | 6.35000% | NAP | 82,891.75 | NAP | 994,701.00 | Interest Only | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 1/17/2024 | 0 | 6 | 3/6/2024 | NAP | 2/6/2029 | 2/6/2029 | 0 | 0 | L(24),D(32),O(4) | 1,752,226 | 394,578 | 1,357,648 | 11/30/2023 | T-12 | 1,657,818 | 387,571 | 1,270,248 | 12/31/2022 | T-12 | 1,504,583 | 449,863 | 1,054,720 | 12/31/2021 | T-12 | 94.4% | 1,750,778 | 441,685 | 1,309,093 | 12,468 | 0 | 1,296,625 | 1.32 | 1.30 | 8.5% | 8.4% | 23,000,000 | As Is | 11/21/2023 | 67.2% | 67.2% | 100.0% | 12/19/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 61,743 | 23,747 | 43,081 | 3,811 | 0 | 344 | 0 | 0 | 288 | 0 | 0 | 0 | 0 | 105,088 | 0 | 0 | NAP | 0 | NAP | NAP | Hard | Springing | Yes | No | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Abe Cohen | Abe Cohen | No | Yes | Refinance | | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 23.01 | Property | 1 | 21-23 Catherine Street | 1.4% | 83.2% | | | | | 21-23 Catherine Street | New York | New York | NY | 10038 | Multifamily | Mid Rise | 1900 | 2020 | 30 | Units | | 12,850,000 | 12,850,000 | 12,850,000 | | | | | | | | | | | | | | | | | | | | | | | | | 1,526,279 | 366,445 | 1,159,834 | 11/30/2023 | T-12 | 1,452,109 | 361,387 | 1,090,722 | 12/31/2022 | T-12 | 1,316,846 | 426,401 | 890,445 | 12/31/2021 | T-12 | 95.0% | 1,487,828 | 405,788 | 1,082,040 | 11,468 | 0 | 1,070,572 | | | | | 19,000,000 | As Is | 11/21/2023 | | | 100.0% | 12/19/2023 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 11/30/2023 | NAP | 11/30/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 23.02 | Property | 1 | 26 Park Place | 0.3% | 16.8% | | | | | 26 Park Place | Brooklyn | Kings | NY | 11217 | Multifamily | Low Rise | 1888 | 2020 | 4 | Units | | 2,600,000 | 2,600,000 | 2,600,000 | | | | | | | | | | | | | | | | | | | | | | | | | 225,947 | 28,133 | 197,814 | 11/30/2023 | T-12 | 205,710 | 26,184 | 179,526 | 12/31/2022 | T-12 | 187,737 | 23,462 | 164,275 | 12/31/2021 | T-12 | 91.6% | 262,950 | 35,897 | 227,053 | 1,000 | 0 | 226,053 | | | | | 4,000,000 | As Is | 11/21/2023 | | | 100.0% | 12/19/2023 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 11/30/2023 | NAP | 11/30/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 24 | Loan | 1 | DoubleTree by Hilton Hotel Orlando at SeaWorld | 1.7% | 100.0% | BMO | BMO, CREFI, GACC | NAP | NAP | 10100 International Drive | Orlando | Orange | FL | 32821 | Hospitality | Full Service | 1981 | 2018, 2022 | 1,042 | Rooms | 81,573.90 | 15,000,000 | 15,000,000 | 15,000,000 | 7.75000% | NAP | 98,220.49 | NAP | 1,178,645.88 | Interest Only | No | Actual/360 | 60 | 58 | 60 | 58 | 0 | 0 | 11/30/2023 | 2 | 6 | 1/6/2024 | NAP | 12/6/2028 | 12/6/2028 | 0 | 0 | L(26),DorYM1(27),O(7) | 56,210,937 | 41,814,367 | 14,396,570 | 10/31/2023 | T-12 | 51,734,974 | 39,744,081 | 11,990,892 | 12/31/2022 | T-12 | 33,498,506 | 27,824,649 | 5,673,856 | 12/31/2021 | T-12 | 77.0% | 56,210,937 | 41,647,834 | 14,563,103 | 2,180,884 | 0 | 12,382,219 | 2.18 | 1.85 | 17.1% | 14.6% | 143,000,000 | As Is | 5/28/2023 | 59.4% | 59.4% | 77.0% | 10/31/2023 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 6/22/2023 | NAP | 11/10/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 207,641 | 103,820 | 484,118 | Springing | 0 | Greater of (i) 4% of the gross revenues from the operations for the calendar month 2 months prior to such Payment Date and (ii) the amount required pursuant to the terms of any Franchise Agreement | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 81,403 | 81,403 | Seasonality Reserve | 0 | NAP | NAP | Hard | Springing | Yes | No | Yes | No | 15,000,000 | 70,000,000 | 458,362.26 | 556,582.75 | NAP | NAP | 85,000,000 | 556,582.75 | 59.4% | 1.85 | 17.1% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | BLT Real Estate JV5 LLC | BLT Real Estate JV5 LLC | No | No | Refinance | No | | | | | | | | | | | | | 5/31/2030 | 132.13 | 101.70 | 77.0% | 132.13 | 101.70 | 77.0% | 119.71 | 95.16 | 79.5% | 88.69 | 62.37 | 70.3% |
| 25 | Loan | 1 | Riveredge Industrial | 1.5% | 100.0% | ZBNA | ZBNA | NAP | NAP | 19, 42 & 59 Lukens Drive | New Castle Hundred | New Castle | DE | 19720 | Industrial | Warehouse/Distribution | 1987 | 1989 | 243,708 | SF | 53.96 | 13,150,000 | 13,150,000 | 13,150,000 | 6.95000% | NAP | 77,218.20 | NAP | 926,618.40 | Interest Only | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 1/16/2024 | 0 | 6 | 3/6/2024 | NAP | 2/6/2029 | 2/6/2029 | 0 | 0 | L(24),D(29),O(7) | 1,848,481 | 427,290 | 1,421,191 | 9/30/2023 | T-12 | 1,920,539 | 453,343 | 1,467,196 | 12/31/2022 | T-12 | 1,848,724 | 473,914 | 1,374,810 | 12/31/2021 | T-12 | 95.0% | 1,871,225 | 444,547 | 1,426,679 | 24,661 | 18,533 | 1,383,485 | 1.54 | 1.49 | 10.8% | 10.5% | 22,800,000 | As Is | 12/18/2023 | 57.7% | 57.7% | 99.8% | 12/1/2023 | No | Alstom Transportation | 98,018 | 40.2% | 3/31/2025 | J&L Building Materials | 38,400 | 15.8% | 2/29/2032 | Unifirst | 23,013 | 9.4% | 12/31/2024 | Green Recovery Technologies | 22,282 | 9.1% | 6/30/2029 | Piffert Inc. | 17,402 | 7.1% | 11/30/2026 | 1/3/2024 | NAP | 1/2/2024 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 85,759 | 12,252 | 0 | Springing | 126,855 | 2,031 | 0 | 375,000 | Springing | 375,000 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 | NAP | NAP | Springing | Springing | Yes | Yes | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Brock J. Vinton | Brock J. Vinton | No | No | Refinance | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 26 | Loan | 1 | Big Horn at Black Mountain | 1.4% | 100.0% | BMO | BMO | NAP | NAP | 231 West Horizon Ridge Parkway | Henderson | Clark | NV | 89012 | Multifamily | Garden | 1998 | NAP | 133 | Units | 97,744.36 | 13,000,000 | 13,000,000 | 13,000,000 | 7.12000% | NAP | 78,204.63 | NAP | 938,455.56 | Interest Only | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 12/22/2023 | 1 | 6 | 2/6/2024 | NAP | 1/6/2029 | 1/6/2029 | 0 | 0 | L(25),D(31),O(4) | 2,095,794 | 679,329 | 1,416,465 | 11/30/2023 | T-12 | 1,945,709 | 579,237 | 1,366,472 | 12/31/2022 | T-12 | 1,427,629 | 485,369 | 942,260 | 12/31/2021 | T-12 | 92.5% | 2,148,900 | 603,990 | 1,544,910 | 33,250 | 0 | 1,511,660 | 1.65 | 1.61 | 11.9% | 11.6% | 24,400,000 | As Is | 6/30/2023 | 53.3% | 53.3% | 92.5% | 11/30/2023 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 7/25/2023 | NAP | 7/27/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 26,228 | 8,743 | 21,407 | 2,141 | 0 | 2,771 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 99,751 | Springing | Common Charges Reserve | 0 | NAP | NAP | Soft | Springing | Yes | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | John Mersho 2016 Irrevocable Trust, dated December 24, 2016 | George Mersho | No | No | Recapitalization | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 27 | Loan | 3 | Bala Plaza Portfolio | 1.3% | | CREFI | CREFI | NAP | NAP | Various | Bala Cynwyd | Montgomery | PA | 19004 | Various | Various | Various | Various | 1,136,771 | SF | 87.53 | 11,500,000 | 11,500,000 | 11,500,000 | 8.71000% | NAP | 84,630.15 | NAP | 1,015,561.80 | Interest Only | No | Actual/360 | 60 | 57 | 60 | 57 | 0 | 0 | 11/2/2023 | 3 | 6 | 12/6/2023 | NAP | 11/6/2028 | 11/6/2028 | 0 | 0 | L(5),YM1(48),O(7) | 33,125,041 | 17,632,016 | 15,493,025 | 8/31/2023 | T-12 | 31,871,739 | 17,331,324 | 14,540,415 | 12/31/2022 | T-12 | 31,052,511 | 16,030,922 | 15,021,589 | 12/31/2021 | T-12 | 89.8% | 33,476,790 | 17,313,636 | 16,163,153 | 282,171 | 1,136,329 | 14,744,653 | 1.84 | 1.68 | 16.2% | 14.8% | 210,100,000 | As Is | 7/27/2023 | 47.4% | 47.4% | 89.4% | 8/30/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 346,446 | 346,446 | 56,824 | 28,412 | 0 | 23,514 | 846,514 | 5,000,000 | Springing | 2,000,000 | 0 | 0 | 0 | 0 | 3,708,965 | 0 | Garage Repair Reserve ($2,300,000), Unfunded Obligations Reserve ($1,179,363.26), Free Rent Reserve ($229,601.42) | 0 | NAP | NAP | Hard | Springing | Yes | Yes | Yes | No | 11,500,000 | 88,000,000 | 647,604.63 | 732,234.78 | NAP | NAP | 99,500,000 | 732,234.78 | 47.4% | 1.68 | 16.2% | 30,000,000 | 5.00000% | 129,500,000 | 858,970.89 | 61.6% | 1.43 | 12.5% | No | NAP | Carolyn Dayon, Harry Adjmi, Eva Vegh and Yael Ishakis | Carolyn Dayon, Harry Adjmi, Eva Vegh and Yael Ishakis | No | Yes | Acquisition | | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 27.01 | Property | 1 | Three Bala Plaza | 0.5% | 41.3% | | | | | 251 Saint Asaphs Road | Bala Cynwyd | Montgomery | PA | 19004 | Office | Suburban | 1983 | 2020 | 390,899 | SF | | 4,750,537 | 4,750,537 | 4,750,537 | | | | | | | | | | | | | | | | | | | | | | | | | 12,337,122 | 6,061,040 | 6,276,082 | 8/31/2023 | T-12 | 11,953,557 | 5,906,146 | 6,047,411 | 12/31/2022 | T-12 | 12,136,638 | 5,389,004 | 6,747,633 | 12/31/2021 | T-12 | 89.2% | 12,824,095 | 5,860,062 | 6,964,032 | 97,030 | 458,813 | 6,408,189 | | | | | 85,500,000 | As Is | 7/27/2023 | | | 87.1% | 8/30/2023 | No | Tokio Marine North America, Inc. | 90,687 | 23.2% | 1/31/2035 | Global Indemnity Group, Inc. | 40,517 | 10.4% | 12/31/2029 | NCS Pearson, Inc. | 37,395 | 9.6% | 7/31/2026 | Investedge, Inc. | 28,563 | 7.3% | 5/31/2026 | Harmelin Media, Inc. | 23,810 | 6.1% | 6/30/2024 | 8/3/2023 | NAP | 8/3/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 27.02 | Property | 1 | One Bala Plaza | 0.5% | 39.4% | | | | | 231 Saint Asaphs Road | Bala Cynwyd | Montgomery | PA | 19004 | Office | Suburban | 1968 | 2021 | 386,788 | SF | | 4,528,433 | 4,528,433 | 4,528,433 | | | | | | | | | | | | | | | | | | | | | | | | | 12,019,217 | 6,134,449 | 5,884,769 | 8/31/2023 | T-12 | 11,720,682 | 5,940,161 | 5,780,521 | 12/31/2022 | T-12 | 11,114,797 | 5,473,864 | 5,640,933 | 12/31/2021 | T-12 | 90.1% | 11,580,475 | 5,951,865 | 5,628,610 | 96,009 | 401,457 | 5,131,144 | | | | | 81,300,000 | As Is | 7/27/2023 | | | 88.9% | 8/30/2023 | No | Tokio Marine North America, Inc. | 205,243 | 53.1% | 1/31/2035 | Beasley Media Group, LLC | 36,858 | 9.5% | 3/31/2029 | Vitalyst, LLC | 26,530 | 6.9% | 12/31/2025 | Chas, Kurz & Co., Inc | 15,046 | 3.9% | 4/30/2030 | Savran Benson LLP | 6,778 | 1.8% | 1/31/2029 | 8/3/2023 | NAP | 8/3/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 27.03 | Property | 1 | Two Bala Plaza | 0.2% | 19.3% | | | | | 333 East City Avenue | Bala Cynwyd | Montgomery | PA | 19004 | Mixed Use | Office/Retail | 1969 | 2020 | 359,084 | SF | | 2,221,030 | 2,221,030 | 2,221,030 | | | | | | | | | | | | | | | | | | | | | | | | | 8,768,702 | 5,436,528 | 3,332,174 | 8/31/2023 | T-12 | 8,197,499 | 5,485,016 | 2,712,483 | 12/31/2022 | T-12 | 7,801,076 | 5,168,053 | 2,633,023 | 12/31/2021 | T-12 | 90.2% | 9,072,220 | 5,501,709 | 3,570,511 | 89,133 | 276,058 | 3,205,320 | | | | | 43,300,000 | As Is | 7/27/2023 | | | 92.6% | 8/30/2023 | No | Saks Fifth Avenue LLC | 100,500 | 28.0% | 8/31/2027 | Massachusetts Mutual Life Insurance Company | 24,985 | 7.0% | 6/30/2025 | United States Postal Service | 20,479 | 5.7% | 4/30/2026 | iHeartmedia + Entertainment, Inc | 15,097 | 4.2% | 1/31/2030 | Merrill Lynch, Pierce, Fenner & Smith, Incorporated | 14,319 | 4.0% | 9/21/2028 | 8/3/2023 | NAP | 8/3/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 28 | Loan | 1 | 35 Kingston Avenue | 1.0% | 100.0% | SMC | SMC | NAP | NAP | 35 Kingston Avenue | Brooklyn | Kings | NY | 11213 | Multifamily | Mid Rise | 2022 | NAP | 21 | Units | 440,476.19 | 9,250,000 | 9,250,000 | 9,250,000 | 6.52000% | NAP | 50,956.37 | NAP | 611,476.39 | Interest Only | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 1/17/2024 | 0 | 6 | 3/6/2024 | NAP | 2/6/2029 | 2/6/2029 | 0 | 0 | L(24),D(31),O(5) | 222,008 | 24,241 | 197,767 | 12/31/2023 | T-5 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 96.8% | 856,134 | 105,303 | 750,831 | 5,250 | 0 | 745,581 | 1.23 | 1.22 | 8.1% | 8.1% | 14,300,000 | As Is | 10/17/2023 | 64.7% | 64.7% | 90.5% | 1/16/2024 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10/25/2023 | NAP | 10/25/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 11,264 | 5,632 | 1,968 | 984 | 0 | 438 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 800,000 | 0 | CityFHEPS Reserve | 0 | NAP | NAP | Springing | Springing | Yes | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | David Banda and Chaim Landau | David Banda and Chaim Landau | No | No | Refinance | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 29 | Loan | 1 | Knightsbridge and Sheffield House Apartments | 1.0% | 100.0% | LMF | LMF | NAP | NAP | 5906 Park Heights Avenue and 6000 Menlo Drive | Baltimore | Baltimore City | MD | 21215 | Multifamily | Mid Rise | 1970 | 2022 | 78 | Units | 116,666.67 | 9,100,000 | 9,100,000 | 9,100,000 | 7.05000% | NAP | 54,205.03 | NAP | 650,460.36 | Interest Only | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 12/19/2023 | 1 | 6 | 2/6/2024 | NAP | 1/6/2029 | 1/6/2029 | 5 | 0 | L(11),YM1(45),O(4) | 1,230,141 | 395,501 | 834,640 | 11/30/2023 | T-12 | 1,113,008 | 412,001 | 701,007 | 12/31/2022 | T-12 | 964,380 | 388,688 | 575,692 | 12/31/2021 | T-12 | 97.0% | 1,329,559 | 426,926 | 902,633 | 15,600 | 0 | 887,033 | 1.39 | 1.36 | 9.9% | 9.7% | 12,975,000 | As Is | 11/28/2023 | 70.1% | 70.1% | 97.4% | 12/18/2023 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 12/1/2023 | NAP | 12/1/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 12,457 | 11,864 | 20,914 | 3,486 | 0 | 1,300 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 65,880 | 0 | 0 | | 0 | NAP | NAP | Springing | Springing | Yes | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | Yes | Future Mezzanine Loan | Elimelech Weisblum | Elimelech Weisblum | No | No | Refinance | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 30 | Loan | 1 | Millstone Towne Center | 0.9% | 100.0% | ZBNA | ZBNA | NAP | NAP | 3350 Footbridge Lane and 3351 South Peak Drive | Fayetteville | Cumberland | NC | 28306 | Retail | Shadow Anchored | 2009 | NAP | 40,537 | SF | 208.45 | 8,450,000 | 8,450,000 | 8,450,000 | 8.03000% | NAP | 57,329.92 | NAP | 687,959.04 | Interest Only | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 12/21/2023 | 1 | 6 | 2/6/2024 | NAP | 1/6/2029 | 1/6/2029 | 0 | 0 | L(25),D(31),O(4) | 1,288,837 | 250,294 | 1,038,542 | 8/31/2023 | T-12 Ann | 1,233,563 | 228,491 | 1,005,072 | 12/31/2022 | T-12 | 1,198,772 | 236,890 | 961,882 | 12/31/2021 | T-12 | 88.8% | 1,352,056 | 333,282 | 1,018,774 | 8,107 | 13,245 | 997,422 | 1.48 | 1.45 | 12.1% | 11.8% | 13,000,000 | As Is | 11/16/2023 | 65.0% | 65.0% | 88.7% | 12/19/2023 | No | Hope Mills Medical Home/US Government | 15,721 | 38.8% | 2/7/2032 | US Army/Navy Recruiting/US Government | 4,216 | 10.4% | 9/29/2025 | Rudinos Pizza, Sports & Spirits | 2,800 | 6.9% | 10/31/2026 | Fitness NC | 2,800 | 6.9% | 9/30/2027 | Forum Nail | 1,400 | 3.5% | 11/30/2032 | 11/28/2023 | NAP | 11/27/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 34,008 | 5,668 | 0 | Springing | 101,966 | 676 | 0 | 185,000 | Springing | 185,000 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 | NAP | NAP | Springing | Springing | Yes | Yes | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Hesham Abdelbaky and Jonathan Boes | Hesham Abdelbaky and Jonathan Boes | No | No | Acquisition | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 31 | Loan | 1 | 785 Fairmount Place | 0.8% | 100.0% | SMC | SMC | NAP | NAP | 785 Fairmount Place | Bronx | Bronx | NY | 10460 | Multifamily | Mid Rise | 2023 | NAP | 25 | Units | 280,000.00 | 7,000,000 | 7,000,000 | 7,000,000 | 7.09000% | NAP | 41,932.76 | NAP | 503,193.06 | Interest Only | No | Actual/360 | 60 | 58 | 60 | 58 | 0 | 0 | 12/4/2023 | 2 | 6 | 1/6/2024 | NAP | 12/6/2028 | 12/6/2028 | 0 | 0 | L(26),D(30),O(4) | 200,046 | 19,658 | 180,388 | 10/31/2023 | T-3 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 96.9% | 890,868 | 97,239 | 793,629 | 6,250 | 0 | 787,379 | 1.58 | 1.56 | 11.3% | 11.2% | 11,400,000 | As Is | 10/26/2023 | 61.4% | 61.4% | 96.0% | 11/30/2023 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10/31/2023 | NAP | 10/31/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 0 | 117 | 12,762 | 1,595 | 0 | 521 | 0 | 0 | 0 | 0 | 132,153 | 0 | 0 | 5,000 | 0 | 0 | | 0 | NAP | NAP | Springing | Springing | Yes | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Joel Guttman | Joel Guttman | No | No | Refinance | Yes | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 32 | Loan | 1 | Hyatt Place Baltimore Owings Mills | 0.7% | 100.0% | BMO | BMO | NAP | NAP | 4730 Painters Mill Road | Owings Mills | Baltimore | MD | 21117 | Hospitality | Select Service | 2000 | 2012-2014 | 123 | Rooms | 51,219.51 | 6,300,000 | 6,300,000 | 6,300,000 | 8.23000% | NAP | 43,807.60 | NAP | 525,691.20 | Interest Only | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 12/21/2023 | 1 | 6 | 2/6/2024 | NAP | 1/6/2029 | 1/6/2029 | 0 | 0 | L(25),D(30),O(5) | 3,176,126 | 2,787,625 | 388,501 | 10/31/2023 | T-12 | 3,160,791 | 2,741,956 | 418,835 | 12/31/2022 | T-12 | 3,832,582 | 2,527,877 | 1,304,706 | 12/31/2021 | T-12 | 62.7% | 3,176,124 | 2,186,121 | 990,004 | 127,045 | 0 | 862,959 | 1.88 | 1.64 | 15.7% | 13.7% | 12,000,000 | As Complete | 11/1/2024 | 52.5% | 52.5% | 62.7% | 10/31/2023 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10/17/2023 | NAP | 10/17/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 22,929 | 11,464 | 14,808 | 7,404 | 0 | Springing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,509,601 | 0 | PIP Reserve (Upfront: $3,488,101), Seasonality Reserve (Upfront: $21,500) | 0 | NAP | NAP | Hard | Springing | Yes | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Sunil Joshi and Sridhar Marupudi | Sunil Joshi and Sridhar Marupudi | No | No | Acquisition | No | | | | | | | | | | | | | 3/1/2038 | 109.42 | 68.58 | 62.7% | 109.42 | 68.58 | 62.7% | 106.42 | 67.27 | 63.2% | 101.53 | 82.75 | 81.5% |
| 33 | Loan | 1 | 2136 Bedford Avenue | 0.6% | 100.0% | SMC | SMC | NAP | NAP | 2136 Bedford Avenue | Brooklyn | Kings | NY | 11226 | Multifamily | Mid Rise | 2023 | NAP | 14 | Units | 367,857.14 | 5,150,000 | 5,150,000 | 5,150,000 | 6.96800% | NAP | 30,319.67 | NAP | 363,836.06 | Interest Only | No | Actual/360 | 60 | 60 | 60 | 60 | 0 | 0 | 1/17/2024 | 0 | 6 | 3/6/2024 | NAP | 2/6/2029 | 2/6/2029 | 0 | 0 | L(24),D(31),O(5) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 97.0% | 546,440 | 55,196 | 491,243 | 3,500 | 0 | 487,743 | 1.35 | 1.34 | 9.5% | 9.5% | 8,500,000 | As Is | 8/31/2023 | 60.6% | 60.6% | 100.0% | 1/16/2024 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 9/8/2023 | NAP | 9/8/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 782 | 391 | 5,059 | 625 | 0 | 292 | 0 | 0 | 0 | 0 | 93,636 | 0 | 0 | 6,875 | 200,000 | 0 | 421-a Reserve | 0 | NAP | NAP | Springing | Springing | Yes | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Leah Waldman | Leah Waldman | No | No | Refinance | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 34 | Loan | 1 | Lenox Hill Mixed Use | 0.5% | 100.0% | LMF | LMF | NAP | NAP | 1435 2nd Avenue | New York | New York | NY | 10021 | Mixed Use | Multifamily/Retail | 1910 | 2022 | 3 | Units | 1,400,000.00 | 4,200,000 | 4,200,000 | 4,200,000 | 7.20000% | NAP | 25,550.00 | NAP | 306,600.00 | Interest Only | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 12/29/2023 | 1 | 6 | 2/6/2024 | NAP | 1/6/2029 | 1/6/2029 | 0 | 0 | L(11),YM1(45),O(4) | 527,970 | 119,812 | 408,158 | 11/30/2023 | T-12 | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | 96.1% | 556,037 | 132,062 | 423,975 | 789 | 1,894 | 421,291 | 1.38 | 1.37 | 10.1% | 10.0% | 6,700,000 | As Is | 11/27/2023 | 62.7% | 62.7% | 100.0% | 12/4/2023 | No | Nippori, Inc. (d/b/a Tabata Noodle) | 1,894 | 100.0% | 9/30/2032 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 12/7/2023 | NAP | 12/7/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 18,385 | 8,755 | 3,086 | 735 | 0 | 66 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 | NAP | NAP | Springing | Springing | Yes | Yes | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | Yes | Future Mezzanine Loan | Maung Htain Linn and Khin Aye Kyawt | Maung Htain Linn and Khin Aye Kyawt | No | No | Refinance | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 35 | Loan | 1 | Pine Grove Apartments | 0.5% | 100.0% | LMF | LMF | NAP | NAP | 6006, 6060 Brown Parkway; 6006, 6033, 6060 Elm Court; and 6011, 6055, 6060 John Court | Loves Park | Winnebago | IL | 61111 | Multifamily | Garden | 1967 | 2022 | 60 | Units | 70,000.00 | 4,200,000 | 4,200,000 | 4,109,827 | 8.33000% | 31,789.72 | 29,559.93 | 381,476.64 | 354,719.16 | Interest Only, Amortizing Balloon | No | Actual/360 | 24 | 21 | 60 | 57 | 360 | 360 | 10/20/2023 | 3 | 6 | 12/6/2023 | 12/6/2025 | 11/6/2028 | 11/6/2028 | 0 | 0 | L(5),YM1(51),O(4) | 684,186 | 176,854 | 507,332 | 10/31/2023 | T-12 | 590,836 | 152,495 | 438,341 | 12/31/2022 | T-12 | 542,580 | 151,808 | 390,772 | 12/31/2021 | T-12 | 97.0% | 709,720 | 213,917 | 495,803 | 12,000 | 0 | 483,803 | 1.30 | 1.27 | 11.8% | 11.5% | 6,400,000 | As Is | 9/26/2023 | 65.6% | 64.2% | 100.0% | 12/1/2023 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 10/5/2023 | NAP | 10/13/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 13,474 | 6,416 | 26,071 | 2,759 | 0 | 1,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 36,779 | 6,000 | 0 | Radon Testing Reserve | 0 | NAP | NAP | Springing | Springing | Yes | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Louis Capra | Louis Capra | No | No | Refinance | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 36 | Loan | 1 | Sunshine Storage | 0.4% | 100.0% | UBS AG | UBS AG | NAP | NAP | 58521 Belleview Drive & 22035 LA-1 | Plaquemine | Plaquemine | LA | 70764 | Self Storage | Self Storage | 2007-2010 | NAP | 55,075 | SF | 65.91 | 3,630,000 | 3,630,000 | 3,630,000 | 7.22300% | NAP | 22,153.04 | NAP | 265,836.48 | Interest Only | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 12/28/2023 | 1 | 6 | 2/6/2024 | NAP | 1/6/2029 | 1/6/2029 | 0 | 0 | L(25),D(28),O(7) | 668,561 | 285,278 | 383,283 | 10/31/2023 | T-12 | 647,010 | 272,591 | 374,418 | 12/31/2022 | T-12 | 487,717 | 197,821 | 289,896 | 12/31/2021 | T-12 | 89.2% | 668,561 | 271,356 | 397,205 | 5,566 | 0 | 391,639 | 1.49 | 1.47 | 10.9% | 10.8% | 6,010,000 | As Is | 11/7/2023 | 60.4% | 60.4% | 89.2% | 11/30/2023 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 11/16/2023 | NAP | 11/16/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 4,884 | 1,879 | 14,390 | 5,535 | 0 | 464 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 | 0 | NAP | 0 | NAP | NAP | Springing | Springing | Yes | No | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Plaquemine Self Storage, LLC | Andrew S. Mattox | No | No | Acquisition | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 37 | Loan | 1 | Orchard Grove Shopping Center | 0.3% | 100.0% | GSC2 | GCMC | NAP | NAP | 1330 North Orchard Road | Aurora | Kane | IL | 60506 | Retail | Shadow Anchored | 2003 | NAP | 14,920 | SF | 207.77 | 3,100,000 | 3,100,000 | 3,100,000 | 6.27000% | NAP | 16,422.47 | NAP | 197,069.64 | Interest Only | No | Actual/360 | 60 | 59 | 60 | 59 | 0 | 0 | 1/3/2024 | 1 | 6 | 2/6/2024 | NAP | 1/6/2029 | 1/6/2029 | 0 | 0 | L(25),D(28),O(7) | 611,783 | 185,238 | 426,545 | 10/31/2023 | T-12 | 613,655 | 174,838 | 438,817 | 12/31/2022 | T-12 | 568,325 | 177,771 | 390,553 | 12/31/2021 | T-12 | 95.0% | 595,851 | 181,739 | 414,111 | 4,327 | 26,110 | 383,674 | 2.10 | 1.95 | 13.4% | 12.4% | 6,270,000 | As Is | 11/16/2023 | 49.4% | 49.4% | 100.0% | 11/10/2023 | No | Panera Bread | 4,416 | 29.6% | 8/31/2028 | Kinko's / FedEx | 3,942 | 26.4% | 2/28/2029 | Prime Communications / AT&T | 2,437 | 16.3% | 1/31/2026 | Pizza Hut | 1,608 | 10.8% | 4/30/2030 | Night Market Asian Cuisine & Lounge | 1,400 | 9.4% | 8/31/2026 | 11/20/2023 | NAP | 11/22/2023 | NAP | NAP | No | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 3,508 | 1,169 | 0 | 361 | 0 | 0 | 2,176 | 100,000 | 0 | 0 | 0 | 23,563 | 0 | 0 | | 0 | NAP | NAP | Hard | Springing | Yes | Yes | No | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | Michael N. Jaffe | Michael N. Jaffe and Michael N. Jaffe, as Trustee of the Michael N. Jaffe Declaration of Trust Dated June 25, 2004 | No | No | Refinance | No | | | | | | | | | | | | | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
