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of repayments of were $X.XX held to share the portfolio a losses $X.X $X.XX decreased quarter prior of loss quarter-over-quarter was XXXX, and loan sales. loss net loan The to distributable gains Distributable $X.XX fourth for per at GAAP share. September per billion CMTG XX. loan and a primarily share. of the result and per investment earnings CMTG's reported realized For decrease
loan total fundings including these million fourth of Offsetting in $XX loans repayments, a full repayment repayments X UPB. in commitments. quarter, totaling $XX received was million loan we million on $XX the total existing of During the in
the X We sales during executed with million of UPB aggregate $XXX also loan an quarter.
balance loans and quarter sheet reported the held previously on X end. as were third first at subsequent sale third events as classified The quarter were for
to Miami sold in land be secured of was for a The UPB. first subordinate XX.X% loan $XX developed million loan by
The the by $XX sold third $XXX second million UPB. Colorado a a $XXX of loan a in multifamily collateralized secured located loan by sold in Las located property million. multifamily loan, senior XX% We loan was property at Vegas at million
addition, a we was loan in active was activity. held as a sale completed December $XXX loan million subsequent that at completed the at to with regard year transaction hotel January because to classified loan sale sale also par.
XXXX by was an loan San senior executed This year-end, a collateralized early In was in Diego. for XX
split at realizations, loan and loan that During CMTG to risk the year, of positive aggregate period the is the evenly volatility. which loan portfolio as removing a and borrower accelerated repayments of capital activity $X.X during while for billion secure We of view maturity repayment we of between executed markets unable refinancing sales an the being sales.
credit above During at that and use which be funding capital. the XXXX, X were X were loans. relate not to speaks deemed of of of The loan or to XX% at exceptions future construction X risks CMTG's a with of par, these accretive loans sales commitments level the quality executed to most
believe the we for a portfolio REO based York where to market. it Hotel we trade the could we and the marked New During also value in the asset sale to on held quarter, reclassified
the Manhattan. mezzanine borrower. service have X comprised portfolio's is on in portfolio foreclosure, of highs. throughout the reminder, Since we to a located hotels revenue seen the all-time limited back And XXXX, As rebound foreclosed we
we prior on a have mentioned summer. launching sale explored the process As regularly portfolio, a calls, last of
With sale of temporarily process the XXXX. ultimately progress. was portfolio which to Our and we fourth made providing Hotels during quarter our update what City the was delayed of Safe New York a due look have progress us, this to an executing passed the forward became legislation, towards on Act behind
having elevated upside other a to access rate X borrowers rated loans not our these assets. and our point, currently collectively under management that capital We injection. X-rated represent multifamily vantage and or have XX% We experienced have have we these These temporary environment multifamily pressure loans a on X multifamily valuation X. the these effectively manage similar perspective substantial modest to loans. the loans From to believe believe our loans with resources risk due of capital our
As risk the of are, are anticipation however, their these quarters. There upon a X-year correspond estimated optimal scenarios other borrower, its XXXX accordance permit path specific In has its to in satisfy our principal value.
One be foreclose charged average result, which originated extensive long-term we in the fair recorded $XXX are with Manhattan. foreclosure. an determined have by we UPB, off values to that coming we in continuing believing due certain loan payoff foreclosures, In despite the all prioritizing loan this and capital underlying secured conversations these to borrower have at loans example million in the met, following is best obligation assets of conditions loan and November, performed not with in XX% to reached where will service. maturity terms the with a planned option X, including the uses a reserves its of agreed on discounted we rated to is foreclosure multifamily throughout CECL now building these to a The if debt asset and term. pay its we repayment of
opportunities take net the monetize position the heading the into to collateral accretive XXXX. liquidity generating approximately second the our of believe to capital value we loan, While investment, of we advantage our long-term allocation of incentive million that to believe continue supports half $XXX strengthens
Given of this reserve. the within we loan associated contingencies a downgraded our reserve risk to with X, rating potential loss this and modification, was for general the
payoffs. to continue discounted we ahead, expect pursue Looking loan foreclosures sales, and/or to
will through seek credit However, first we before modifications to value support. doing and so, maximize loan
a and provided in third a modification property protracted collateral. the when to the individuals of worth New mixed-use have actively office defaulted pursued a one now be likely. avoid in recently loss foreclosed quarter its a the of to particularly personal And modified an a by significant other helped our by X the part ongoing short-form collateral component.
CMTG's broadly, asset well-structured guarantees million of difficult in for efforts, we City the the where resulting the situation pursuing worth. with net significant guarantor $X.X loans, are to process. meaningful our third loan on original modification, into loans, been would battle can principal the foresight or of included has exchange that sponsor which example, secured was legal on to ground office and litigation words, is avoid component guarantee repayment as losses more quarter, a net other on a foreclosed collateral In we on asset of management this lessor, losing and the For retail loan York bifurcation a loan Subsequent a
capacity credit based we Turning which existing liquidity, to reported December includes collateral. total At cash on liquidity. undrawn in million approved and XX, $XXX and
could enhancing As now loans, that area to be coming anticipated finalized billion our are refinancing like team transactions under portfolio X/X remaining to accretively liquidity, sales anticipate levels suboptimal anticipate turn throughout reducing mentioned, proceeds Richard a our increasing XX% And XXXX. list deleveraging gross to We proceeds. approximately of of we call and the redeploying.
I between which assets in our the result held-for-sale repayments.
There the to and balance which the point, operator. would of $X with in loans, sheet non-earning total or and will X/X the the watch earning quarters the resolutions including accelerate, realization of of focus just to such liquidity position, pace our hotel loan underway, over the this and expect we be for
