FWP 1 n4265_x3-premkta1.htm FWP

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-257991-10
     

 

BANK 2024-BNK47 Disclaimer

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-257991) 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 Web site at www.sec.gov. Alternatively, the depositor, any 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 1-800-745-2063 (8 a.m. – 5 p.m. EST) or by emailing wfs.cmbs@wellsfargo.com.

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herein is preliminary as of the date hereof, supersedes any such information previously delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus relating to the securities.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.

This free writing prospectus has been prepared by the underwriters for information purposes only and does not constitute, in whole or in part, a prospectus for the purposes of (i) Regulation (EU) 2017/1129 (as amended), (ii) such Regulation as it forms part of UK domestic law, or (iii) Part VI of the UK Financial Services and Markets Act 2000, as amended; and does not constitute an offering document for any other purpose.

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 Wells Fargo Securities, LLC, Goldman Sachs & Co. LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Academy Securities, Inc., Drexel Hamilton, LLC, Siebert Williams Shank & Co., 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.

Wells Fargo Securities is the trade name for the capital markets and investment banking services of Wells Fargo & Company and its subsidiaries, including but not limited to Wells Fargo Securities, LLC, a member of NYSE, FINRA, NFA and SIPC, Wells Fargo Prime Services, LLC, a member of FINRA, NFA and SIPC, and Wells Fargo Bank, N.A. Wells Fargo Securities, LLC and Wells Fargo Prime Services, LLC are distinct entities from affiliated banks and thrifts.

“BofA Securities” is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc., which is a registered broker-dealer and member of FINRA and SIPC, and, in other jurisdictions, locally registered entities.

J.P. Morgan is the marketing name for the investment banking businesses of JPMorgan Chase & Co. and its subsidiaries worldwide. Securities, syndicated loan arranging, financial advisory and other investment banking activities are performed by JPMS and its securities affiliates, and lending, derivatives and other commercial banking activities are performed by JPMorgan Chase Bank, National Association and its banking affiliates. JPMS is a member of SIPC and the NYSE.

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.

 

ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES                                                                                                                                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                                                                                                                                   
Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name % of Initial Pool Balance % of Loan Balance Mortgage Loan Originator Mortgage Loan Seller Related Group Crossed Group Address City County State Zip Code General Property Type Detailed Property Type Year Built Year Renovated Number of Units Unit of Measure Loan Per Unit ($) Original Balance ($) Cut-off Date Balance ($) Maturity/ARD Balance ($) Interest Rate % Administrative Fee Rate % Net Mortgage Rate % Monthly Debt Service (P&I) ($) Monthly Debt Service (IO) ($) Annual Debt Service (P&I) ($) Annual Debt Service (IO) ($) Amortization Type ARD Loan (Yes / No) Interest Accrual Method Original Interest-Only Period (Mos.) Remaining Interest-Only Period (Mos.) Original Term To Maturity / ARD (Mos.) Remaining Term To Maturity / ARD (Mos.) Original Amortization Term (Mos.) Remaining Amortization Term (Mos.) Origination Date Seasoning (Mos.) Payment Due Date First Payment Date First P&I Payment Date Maturity Date or Anticipated Repayment Date Final Maturity Date Grace Period - Late Fee (Days) Grace Period - Default (Days) Prepayment Provision Most Recent EGI ($) Most Recent Expenses ($) Most Recent NOI ($) Most Recent NOI Date Most Recent Description Second Most Recent EGI ($) Second Most Recent Expenses ($) Second Most Recent NOI ($) Second Most Recent NOI Date Second Most Recent Description Third Most Recent EGI ($) Third Most Recent Expenses ($) Third Most Recent NOI ($) Third Most Recent NOI Date Third Most Recent Description Underwritten Economic Occupancy (%) Underwritten EGI ($) Underwritten Expenses ($) Underwritten Net Operating Income ($) Underwritten Replacement / FF&E Reserve ($) Underwritten TI / LC ($) Underwritten Net Cash Flow ($) Underwritten NOI DSCR (x) Underwritten NCF DSCR (x) Underwritten NOI Debt Yield (%) Underwritten NCF Debt Yield (%) Appraised Value ($) Appraised Value Type Appraisal Date Cut-off Date LTV Ratio (%) LTV Ratio at Maturity / ARD (%) Leased Occupancy (%) Occupancy Date Single Tenant (Y/N) Largest Tenant Largest Tenant SF Largest Tenant % of NRA Largest Tenant Lease Expiration Date Second Largest Tenant Second Largest Tenant SF Second Largest Tenant % of NRA Second Largest Tenant Lease Expiration Date Third Largest Tenant Third Largest Tenant SF Third Largest Tenant % of NRA Third Largest Tenant Lease Expiration Date Fourth Largest Tenant Fourth Largest Tenant SF Fourth Largest Tenant % of NRA Fourth Largest Tenant Lease Expiration Date Fifth Largest Tenant Fifth Largest Tenant SF Fifth Largest Tenant % of NRA Fifth Largest Tenant Lease Expiration Date Environmental Phase I Report Date Environmental Phase II Report Date Engineering Report Date Seismic Report Date PML or SEL (%) Flood Zone Ownership Interest Ground Lease Expiration Date Ground Lease Extension Terms Annual Ground Lease Payment as of the Cut-off Date ($) Annual Ground Rent Increases (Y/N) Upfront RE Tax Reserve ($) Monthly RE Tax Reserve ($) Upfront Insurance Reserve ($) Monthly Insurance Reserve ($) Upfront Replacement / PIP Reserve ($) Monthly Replacement / FF&E Reserve ($) Replacement Reserve Caps ($) Upfront TI/LC Reserve ($) Monthly TI/LC Reserve ($) TI/LC Caps ($) Upfront Debt Service Reserve ($) Monthly Debt Service Reserve ($) Debt Service Reserve Cap ($) Upfront Deferred Maintenance Reserve ($) Upfront Other Reserve ($) Monthly Other Reserve ($) Other Reserve Description Other Reserve Cap ($) Holdback/ Earnout Amount ($) Holdback/ Earnout Description Lockbox Type Cash Management Excess Cash Trap Triggered by DSCR and/or Debt Yield Test (Y/N)  Tenant Specific Excess Cash Trap Trigger (Y/N)  Pari Passu (Y/N) Pari Passu in Trust Controlling (Y/N) Trust Pari Passu Cut-off Date Balance ($) Non-Trust Pari Passu Companion Loan Cut-off Date Balance ($) Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) Total Trust and Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) Subordinate Companion Loan Cut-off Date Balance ($) Subordinate Companion Loan Interest Rate Whole Loan Cut-off Date Balance ($) Whole Loan Monthly Debt Service ($) Whole Loan Cut-off Date LTV Ratio (%) Whole Loan Underwritten NCF DSCR (x) Whole Loan Underwritten NOI Debt Yield (%) Mezzanine Debt Cut-off Date Balance($) Mezzanine Debt Interest Rate (%) Total Debt Cut-off Date Balance ($) Total Debt Monthly Debt Service ($) Total Debt Cut-off Date LTV Ratio (%) Total Debt Underwritten NCF DSCR (x) Total Debt Underwritten NOI Debt Yield (%) Future Additional Debt Permitted (Y/N) Future Debt Permitted Type Sponsor Non-Recourse Carveout Guarantor Delaware Statutory Trust
(Y/N)
Tenants-in-common
(Y/N)
Loan Purpose Property Located Within a Qualified Opportunity Zone (Y/N) Sources: Loan Amount ($) Sources: Principal's New Cash Contribution ($) Sources: Subordinate Debt ($) Sources: Other Sources ($) Sources: Total Sources ($) Uses: Loan Payoff ($) Uses: Purchase Price ($) Uses: Closing Costs ($) Uses: Reserves ($) Uses: Principal Equity Distribution ($) Uses: Other Uses ($) Uses: Total Uses ($) Franchise Agreement Expiration Underwritten ADR ($) Underwritten RevPAR ($) Underwritten Hotel Occupancy (%) Most Recent ADR ($) Most Recent RevPAR ($) Most Recent Hotel Occupancy (%) Second Most Recent ADR ($) Second Most Recent RevPAR ($) Second Most Recent Hotel Occupancy (%) Third Most Recent ADR ($) Third Most Recent RevPAR ($) Third Most Recent Hotel Occupancy (%) Coop - Committed Secondary Debt Coop - Rental Value Coop - LTV as Rental  Coop - Unsold Percent Coop - Sponsor Units Coop - Investor Units Coop - Coop Units Coop - Sponsor/
Investor Carry
1.00 Loan   1 St. Johns Town Center 9.2% 100.0% JPMCB, GSBI, BCREI, SGFC JPMCB, GSMC Group 1 NAP 4663 River City Drive Jacksonville Duval FL 32246 Retail Super Regional Mall 2005, 2008, 2014 NAP 1,022,042 SF 352.24 100,000,000 100,000,000 100,000,000 5.94800%   5.94800% NAP 502,550.93 NAP 6,030,611.16 Interest Only No Actual/360 120 120 120 120 0 0 5/10/2024 0 1/1/1900 7/1/2024 NAP 6/1/2034 NAP 0 0 L(24),D(90),O(6) 57,541,496 15,808,735 41,732,761 12/31/2023 T-12 53,937,457 14,670,553 39,266,904 12/31/2022 T-12 49,482,581 13,527,876 35,954,705 12/31/2021 T-12 92.1% 63,759,318 15,996,884 47,762,434 264,000 2,088,000 45,410,434 2.20 2.09 13.3% 12.6% 753,700,000 As Is 3/21/2024 47.8% 47.8% 93.9% 6/1/2024 No Nordstrom 123,000 12.0% 2/28/2030 Dick's Clothing & Sporting Goods 66,000 6.5% 1/31/2026 Restoration Hardware 48,697 4.8% 1/31/2037 Jo-Ann Fabrics 35,000 3.4% 1/31/2026 Ross Dress For Less 30,187 3.0% 1/31/2026 4/4/2024 NAP 4/4/2024 NAP NAP Yes - AE Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 0 0 Springing 0 0 0 0 0 9,788,217 0 Outstanding TI/LC Reserve ($8,393,631); Gap Rent Reserve ($1,394,586) 0 0 NAP Hard Springing Yes No Yes No 100,000,000 260,000,000 1,306,632.40 1,809,183.33 NAP NAP 360,000,000 1,809,183.33 47.8% 2.09 13.3% NAP NAP NAP NAP NAP NAP NAP No NAP Simon Property Group, L.P. Simon Property Group, L.P. No No Refinance   360,000,000 5,611,283 0 0 365,611,283 351,117,405 0 4,705,660 9,788,217 0 0 365,611,283 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
2.00 Loan   1 Dallas Market Center 8.3% 100.0% GSBI GSMC NAP NAP 2000 North Stemmons Freeway and 2050-2100 North Stemmons Freeway Dallas Dallas TX 75207 Mixed Use Merchandise Mart/Retail 1957, 1958, 1974, 1979 1999, 2019 2,746,550 SF 86.29 90,000,000 90,000,000 90,000,000 6.50200%   6.50200% NAP 494,422.92 NAP 5,933,075.04 Interest Only No Actual/360 120 120 120 120 0 0 5/31/2024 0 1/6/1900 7/6/2024 NAP 6/6/2034 NAP 0 0 L(24),D(89),O(7) 89,131,929 52,704,290 36,427,639 2/29/2024 T-12 84,850,749 49,758,034 35,092,715 2/28/2023 T-12 75,542,455 41,287,106 34,255,349 2/28/2022 T-12 93.7% 93,314,164 52,910,281 40,403,884 631,706 1,268,250 38,503,927 2.59 2.46 17.0% 16.2% 636,500,000 As Is 4/27/2024 37.2% 37.2% 91.1% 3/31/2024 No Goetz, Inc. 36,653 1.3% 9/30/2025 Diverse Marketing 34,747 1.3% 10/31/2024 (10,750 SF); 9/30/2026 (2,230 SF); 10/31/2026 (21,767 SF) K. Graves & A. Graves, Inc. 34,517 1.3% 11/30/2026 OneCoast, LLC  31,764 1.2% 3/31/2031 Paul Michael Company 29,480 1.1% 10/31/2025 5/15/2024 NAP 5/15/2024 NAP NAP Yes - AE Fee/Leasehold 7/31/2057 None 256,368 No 1 1 1 0 1,000,000 Springing 1,000,000 1,500,000 Springing 1,500,000 0 0 0 0 431,802 0 Unfunded Obligations Reserve 0 0 NAP Hard In Place Yes No Yes Yes 90,000,000 147,000,000 807,557.43 1,301,980.35 NAP NAP 237,000,000 1,301,980 37.2% 2.46 17.0% NAP NAP NAP NAP NAP NAP NAP No NAP Crow Realty Investors, L.P. Dallas Market Center Financial, L.L.C. No No Refinance   237,000,000 TBD 0 0 237,000,000 0 0 0 2,931,804 TBD 0 2,931,804 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
3.00 Loan   1 Woodfield Mall 7.3% 100.0% BANA, BMO, BCREI BANA Group 1 NAP 5 Woodfield Mall Schaumburg Cook IL 60173 Retail Super Regional Mall 1971, 1995 2015, 2016, 2018 1,064,590 SF 247.98 79,500,000 79,500,000 79,500,000 6.33540%   6.33540% NAP 425,549.93 NAP 5,106,599.16 Interest Only No Actual/360 120 114 120 114 0 0 11/22/2023 6 1/1/1900 1/1/2024 NAP 12/1/2033 NAP 0 0 L(30),D(84),O(6) 72,418,187 35,940,556 36,477,631 10/31/2023 T-12 74,865,600 38,359,447 36,506,153 12/31/2022 T-12 73,703,131 36,473,501 37,229,630 12/31/2021 T-12 95.5% 74,931,706 32,816,238 42,115,468 195,077 864,590 41,055,801 2.48 2.42 16.0% 15.6% 694,000,000 As Is 10/27/2023 38.0% 38.0% 96.1% 11/14/2023 No Nordstrom 200,000 18.8% 3/2/2025 H&M 27,320 2.6% 1/31/2029 Peppa Pig World of Play 22,963 2.2% 12/31/2036 Zara 21,759 2.0% 10/31/2028 Forever 21 21,628 2.0% 1/31/2026 11/7/2023 NAP 11/7/2023 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 0 0 Springing 0 0 0 0 0 7,299,496 0 Outstanding TI/LC Reserve ($6,460,707); Gap Rent Reserve ($838,789.17) 0 0 NAP Hard Springing Yes No Yes No 79,500,000 184,500,000 987,597.00 1,413,146.93 30,000,000 0 294,000,000 1,667,031 42.4% 2.05 14.3% NAP NAP NAP NAP NAP NAP NAP No NAP Simon Property Group, L.P. and Institutional Mall Investors LLC Simon Property Group, L.P. No No Refinance   264,000,000 88,955,402 30,000,000 0 382,955,402 373,692,064 0 1,963,843 7,299,496 0 0 382,955,402 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
4.00 Loan   1 Westwood Gateway II 6.9% 100.0% BANA BANA NAP NAP 11100 and 11150 Santa Monica Boulevard Los Angeles Los Angeles CA 90025 Office CBD 1986, 1989 NAP 548,904 SF 273.27 75,000,000 75,000,000 75,000,000 5.56000%   5.56000% NAP 352,326.39 NAP 4,227,916.68 Interest Only No Actual/360 120 118 120 118 0 0 3/28/2024 2 1/1/1900 5/1/2024 NAP 4/1/2034 NAP 0 0 L(26),DorYM1(89),O(5) 36,105,368 11,659,242 24,446,126 2/29/2024 T-12 36,636,376 11,834,247 24,802,129 12/31/2023 T-12 33,336,127 10,953,934 22,382,193 12/31/2022 T-12 94.8% 38,185,908 11,938,115 26,247,793 218,779 548,904 25,480,110 3.10 3.01 17.5% 17.0% 330,000,000 As Is 3/11/2024 45.5% 45.5% 95.7% 2/29/2024 No The Capital Group Co., Inc. 83,329 15.2% 6/30/2031 Crescent Capital Group LP 41,899 7.6% 2/29/2032 B. Riley Securities, Inc. 26,500 4.8% 6/30/2026 (10,646 SF); 4/30/2029 (15,854 SF) Aristotle Capital Management 24,951 4.5% 9/30/2028 Los Angeles Capital Management 22,405 4.1% 1/31/2028 3/11/2024 NAP 3/11/2024 3/12/2024 12% No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 0 0 Springing 2,000,000 0 0 0 0 8,042,693 0 Unfunded Obligations Reserve ($4,493,417); Free Rent Reserve ($3,549,276) 0 0 NAP Hard Springing Yes No Yes Yes 75,000,000 75,000,000 352,326.39 704,652.78 NAP NAP 150,000,000 704,653 45.5% 3.01 17.5% NAP NAP NAP NAP NAP NAP NAP Yes Mezzanine The Irvine Company LLC Irvine Core Office LLC No No Recapitalization   150,000,000 0 0 0 150,000,000 0 0 529,884 8,042,693 141,427,423 0 150,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
5.00 Loan   1 Danbury Fair Mall 6.4% 100.0% GSBI, MSBNA, BMO GSMC, MSMCH NAP NAP 7 Backus Avenue Danbury Fairfield CT 06810 Retail Super Regional Mall 1986 2007, 2017 923,598 SF 167.82 69,500,000 69,500,000 68,061,124 6.38600%   6.38600% 434,089.72 374,992.72 5,209,076.64 4,499,912.64 Interest Only, Amortizing Balloon No Actual/360 96 92 120 116 360 360 1/25/2024 4 1/6/1900 3/6/2024 3/6/2032 2/6/2034 NAP 5 0 L(28),YM1(85),O(7) 41,365,921 10,954,495 30,411,426 9/30/2023 T-12 38,671,562 12,281,082 26,390,480 12/31/2022 T-12 38,161,185 15,920,467 22,240,718 12/31/2021 T-12 94.5% 43,953,322 13,946,497 30,006,825 166,941 568,561 29,271,323 2.58 2.52 19.4% 18.9% 371,000,000 As Is 12/18/2023 41.8% 40.9% 97.1% 1/4/2024 No Target 126,615 13.7% 1/31/2034 Lord & Taylor 79,872 8.6% 4/30/2045 DICK'S Sporting Goods 73,080 7.9% 1/31/2031 Round 1 Entertainment 60,848 6.6% 2/28/2034 Primark 51,489 5.6% 8/31/2026 12/21/2023 NAP 12/20/2023 NAP NAP Yes - A Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 0 0 Springing 0 0 0 0 0 4,103,258 0 Outstanding TI/LC Obligations ($3,460,293); Gap Rent Reserve ($642,965.09) 0 0 NAP Hard Springing Yes No Yes No 69,500,000 85,500,000 534,024.04 968,113.76 NAP NAP 155,000,000 968,113.76 41.8% 2.52 19.4% NAP NAP NAP NAP NAP NAP NAP No NAP The Macerich Partnership, L.P. The Macerich Partnership, L.P. No No Refinance   155,000,000 0 0 0 155,000,000 116,946,803 0 3,243,816 4,103,258 30,706,123 0 155,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
6.00 Loan   1 60 Hudson 6.0% 100.0% MSBNA MSMCH NAP NAP 60 Hudson Street New York New York NY 10013 Other Data Center 1930 2013 1,149,619 SF 243.56 65,000,000 65,000,000 65,000,000 5.88500%   5.88500% NAP 323,198.21 NAP 3,878,378.52 Interest Only No Actual/360 120 112 120 112 0 0 9/6/2023 8 1/1/1900 11/1/2023 NAP 10/1/2033 NAP 5 5 L(32),D(83),O(5) 124,308,174 50,782,190 73,525,984 6/30/2023 T-12 112,940,517 47,378,697 65,561,820 12/31/2022 T-12 118,744,930 41,284,530 77,460,400 12/31/2021 T-12 65.2% 120,518,204 52,684,531 67,833,673 229,924 2,110,256 65,493,494 4.06 3.92 24.2% 23.4% 1,596,000,000 As Is 5/8/2023 17.5% 17.5% 62.2% 6/5/2023 No Verizon 184,420 16.0% 12/31/2034 (173,522 SF); 5/31/2033 (10,898 SF) CDIL Data Centre USA LLC (Hudson Interxchange) 172,775 15.0% 9/30/2032 Telx - New York LLC (Digital Realty) 95,494 8.3% 10/31/2027 zColo, LLC (DataBank) 57,840 5.0% 7/31/2032 Centurylink Communications 37,472 3.3% 9/30/2033 5/11/2023 NAP 5/11/2023 NAP NAP No Fee NAP NAP NAP NAP 7,089,987 1,772,497 0 Springing 0 Springing 0 0 Springing 0 0 0 0 0 0 0 NAP 0 0 NAP Hard In Place Yes No Yes No 65,000,000 215,000,000 1,069,040.22 1,392,238.43 NAP NAP 280,000,000 1,392,238.43 17.5% 3.92 24.2% NAP NAP NAP NAP NAP NAP NAP No NAP The Stahl Organization NAP No No Refinance   280,000,000 3,678,608 0 0 283,678,608 274,771,150 0 1,817,471 7,089,987 0 0 283,678,608 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
7.00 Loan   8 DHC Medical Office Portfolio 5.8%   WFB, BMO, UBS AG WFB NAP NAP Various Various Various  Various Various Office Medical/Lab Various Various 725,279 SF 165.45 63,000,000 63,000,000 63,000,000 6.86400%   6.86400% NAP 365,365.00 NAP 4,384,380.00 Interest Only No Actual/360 120 120 120 120 0 0 5/30/2024 0 1/11/1900 7/11/2024 NAP 6/11/2034 NAP 0 0 L(24),D(89),O(7) 27,551,903 11,860,495 15,691,408 3/31/2024 T-12 27,394,821 11,936,174 15,458,647 12/31/2023 T-12 NAV NAV NAV NAV NAV 87.0% 26,877,478 11,976,039 14,901,438 275,408 1,087,919 13,538,112 1.78 1.62 12.4% 11.3% 245,000,000 As Is Various 49.0% 49.0% 88.0% 4/1/2024                                                                 0 Springing 0 Springing 0 Springing 0 1,500,000 108,333 8,000,000 0 0 0 0 1,900,567 Springing Ground Rent Reserve (Upfront: $34,333.32; Monthly: Springing); Rent Concession Reserve ($29,229); Existing TI/LC ($1,770,305); Landlord Work Reserve ($66,700) 0 0 NAP Hard Springing Yes Yes Yes Yes 63,000,000 57,000,000 330,568.33 695,933.33 NAP NAP 120,000,000 695,933.33 49.0% 1.62 12.4% NAP NAP NAP NAP NAP NAP NAP No NAP Diversified Healthcare Trust Diversified Healthcare Trust No No Recapitalization                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
7.01 Property   1 47071 Bayside Parkway 2.0% 33.9%         47071 Bayside Parkway Fremont Alameda CA 94538 Office Medical/Lab 1990 2022 88,508 SF   21,342,857 21,342,857 21,342,857                                                     6,431,155 1,751,238 4,679,917 3/31/2024 T-12 6,309,248 1,640,946 4,668,302 12/31/2023 T-12 NAV NAV NAV NAV NAV 100.0% 6,438,386 1,453,765 4,984,621 55,760 132,762 4,796,099         83,000,000 As Is 4/22/2024     100.0% 4/1/2024 Yes Alamar Biosciences, Inc. 88,508 100.0% 1/31/2034 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/23/2024 NAP 4/23/2024 4/23/2024 19% No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
7.02 Property   1 4 Maguire Road 1.2% 20.3%         4 Maguire Road Lexington Middlesex MA 02421 Office Medical/Lab 1968 2022 54,633 SF   12,805,714 12,805,714 12,805,714                                                     4,910,425 1,508,841 3,401,584 3/31/2024 T-12 4,821,287 1,515,720 3,305,567 12/31/2023 T-12 NAV NAV NAV NAV NAV 83.2% 4,232,993 1,568,327 2,664,667 12,019 81,950 2,570,698         49,800,000 As Is 4/22/2024     100.0% 4/1/2024 Yes KSQ Therapeutics, Inc. 54,633 100.0% 9/30/2032 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/23/2024 NAP 4/23/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
7.03 Property   1 200 Old Country Road 1.1% 18.2%         200 Old Country Road Mineola Nassau NY 11501 Office Medical/Lab 1971 2020 256,559 SF   11,442,857 11,442,857 11,442,857                                                     7,621,321 4,442,837 3,178,484 3/31/2024 T-12 7,846,827 4,664,408 3,182,420 12/31/2023 T-12 NAV NAV NAV NAV NAV 77.3% 6,901,563 4,666,421 2,235,141 89,796 384,839 1,760,507         44,500,000 As Is 4/22/2024     78.0% 4/1/2024 No NYU Langone Hospitals 73,699 28.7% Various NYU Grossman School of Medicine 36,285 14.1% Various New York College of Traditional Chinese Medicine 19,615 7.6% 5/31/2029 Lizardos Engineering Associates, P.C. 18,325 7.1% Various Icahn School of Medicine at Mount Sinai 15,163 5.9% 12/31/2024 4/23/2024 NAP 4/23/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
7.04 Property   1 21 Spurs Lane 0.6% 10.4%         21 Spurs Lane San Antonio Bexar TX 78240 Office Medical/Lab 2005 NAP 129,438 SF   6,531,428 6,531,428 6,531,428                                                     3,424,453 1,823,119 1,601,334 3/31/2024 T-12 3,308,120 1,828,094 1,480,027 12/31/2023 T-12 NAV NAV NAV NAV NAV 87.3% 3,919,417 2,061,953 1,857,464 31,065 194,157 1,632,242         25,400,000 As Is 4/18/2024     87.3% 4/1/2024 No Retina Consultants of Houston, PLLC 20,087 15.5% 11/30/2035 Sports Medicine Associates of San Antonio, P.A. 18,246 14.1% 11/30/2026 San Antonio Surgicenter, LLC 16,927 13.1% 1/31/2029 Ear Medical Group, PA (t0015353) 9,717 7.5% 5/31/2027 Comprehensive Radiology Management Services, Ltd. 9,031 7.0% 4/30/2029 4/23/2024 NAP 4/23/2024 NAP NAP Yes - AE Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
7.05 Property   1 5750 Centre Avenue 0.3% 5.4%         5750 Centre Avenue Pittsburgh Allegheny PA 15206 Office Medical/Lab 1990 NAP 75,990 SF   3,420,001 3,420,001 3,420,001                                                     2,042,268 1,170,242 872,026 3/31/2024 T-12 2,031,610 1,170,347 861,263 12/31/2023 T-12 NAV NAV NAV NAV NAV 87.5% 2,148,462 1,137,632 1,010,830 28,876 113,985 867,969         13,300,000 As Is 4/17/2024     87.5% 4/1/2024 No UPMC Presbyterian Shadyside (t0000976) 21,649 28.5% 4/30/2031 ReMed Recovery Care Centers, LLC 8,292 10.9% 4/30/2033 Marc D. Liang, M.D. 5,211 6.9% 1/31/2029 Cardiovascular Disease Specialists of Pittsburgh, P.C. 4,635 6.1% 10/31/2025 Forefront Management, LLC 4,254 5.6% 6/30/2027 4/23/2024 NAP 4/23/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
7.06 Property   1 1325 South Congress Avenue 0.3% 5.1%         1325 South Congress Avenue Boynton Beach Palm Beach FL 33426 Office Medical/Lab 1985 NAP 52,867 SF   3,214,286 3,214,286 3,214,286                                                     1,407,697 770,137 637,560 3/31/2024 T-12 1,418,096 723,514 694,582 12/31/2023 T-12 NAV NAV NAV NAV NAV 92.8% 1,423,883 619,892 803,991 14,274 79,301 710,416         12,500,000 As Is 4/18/2024     91.3% 4/1/2024 No Institute of Healthcare Professions, LLC 16,066 30.4% 12/31/2027 Check Five LLC 4,455 8.4% 11/30/2026 Hadassah, The Women's Zionist Organization of America, Inc. 3,433 6.5% 5/31/2027 Bethesda Health Physician Group, Inc. 3,398 6.4% 7/31/2027 Cross Country Moving Group Inc. 3,303 6.2% 3/31/2025 4/23/2024 NAP 4/23/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
7.07 Property   1 1501 Milstead Road 0.2% 4.1%         1501 Milstead Road Conyers Rockdale GA 30012 Office Medical/Lab 2008 NAP 38,031 SF   2,571,428 2,571,428 2,571,428                                                     1,068,307 258,500 809,807 3/31/2024 T-12 1,087,371 257,370 830,002 12/31/2023 T-12 NAV NAV NAV NAV NAV 100.0% 1,099,735 325,422 774,313 17,875 57,047 699,392         10,000,000 As Is 4/19/2024     100.0% 4/1/2024 No Wilder Dialysis, LLC 7,280 19.1% 1/31/2032 Northside Hospital, Inc. 7,036 18.5% 9/30/2027 Diabetes and Endocrinology Associates P.C. 5,051 13.3% 9/30/2030 Synergy Radiology, LLC 4,621 12.2% 11/30/2033 Surgical Center Solutions, LLC 4,129 10.9% 6/30/2032 4/23/2024 NAP 4/23/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
7.08 Property   1 210 Mall Boulevard 0.2% 2.7%         210 Mall Boulevard King of Prussia Montgomery PA 19406 Office Medical/Lab 1963 2016 29,253 SF   1,671,428 1,671,428 1,671,428                                                     646,276 135,582 510,694 3/31/2024 T-12 572,261 135,776 436,485 12/31/2023 T-12 NAV NAV NAV NAV NAV 100.0% 713,038 142,626 570,411 25,743 43,880 500,789         6,500,000 As Is 4/19/2024     100.0% 4/1/2024 Yes Albert Einstein Healthcare Network 29,252 100.0% 6/30/2031 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/23/2024 NAP 4/23/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
8.00 Loan   7 SSW Advanced Technologies 5.1%   WFB WFB Group 2 NAP Various Various Various Various Various Industrial Manufacturing Various Various 1,259,886 SF 43.73 55,100,000 55,100,000 52,391,011 7.18900%   7.18900% 373,602.09 334,679.57 4,483,225.08 4,016,154.84 Interest Only, Amortizing Balloon No Actual/360 60 57 120 117 360 360 2/23/2024 3 1/11/1900 4/11/2024 4/11/2029 3/11/2034 NAP 5 0 L(27),DorYM1(86),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 8,063,610 1,596,934 6,466,676 246,951 164,517 6,055,208 1.44 1.35 11.7% 11.0% 87,500,000 As Is Various 63.0% 59.9% 100.0% 6/1/2024                                                                 0 Springing 0 Springing 0 Springing 0 0 0 0 0 0 0 0 0 0 NAP 0 0 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 Yes Mezzanine Angelo, Gordon & Co., L.P. and TPG, Inc. AG Net Lease IV Corp., AG Net Lease IV (Q) Corp. and AG Net Lease Realty Fund IV Investments (H-1), L.P. No No Acquisition   55,100,000 33,974,213 0 0 89,074,213 0 84,441,702 4,632,511 0 0 0 89,074,213 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
8.01 Property   1 Vincennes 1.1% 21.6%         2000 Chestnut Street Vincennes Knox IN 47591 Industrial Manufacturing 1930 NAP 395,871 SF   11,901,600 11,901,600 11,316,458                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,743,979 334,426 1,409,552 87,092 28,273 1,294,188         18,900,000 As Is 10/20/2023     100.0% 6/1/2024 Yes SSW Advanced Technologies 395,871 100.0% 2/1/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 12/20/2023 NAP 11/7/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
8.02 Property   1 Newport 1.0% 19.0%         345 Chemwood Drive Newport Cocke TN 37821 Industrial Manufacturing 1968 2015 194,023 SF   10,453,257 10,453,257 9,939,323                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,451,159 205,027 1,246,132 34,924 31,191 1,180,017         16,600,000 As Is 10/17/2023     100.0% 6/1/2024 Yes SSW Advanced Technologies 194,023 100.0% 2/1/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 10/4/2023 NAP 11/7/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
8.03 Property   1 Sweetwater 0.9% 17.5%         615 New Highway 68 Sweetwater Monroe TN 37874 Industrial Manufacturing 1973 2000 177,002 SF   9,634,629 9,634,629 9,160,943                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,349,138 204,584 1,144,554 35,400 28,648 1,080,506         15,300,000 As Is 10/16/2023     100.0% 6/1/2024 Yes SSW Advanced Technologies 177,002 100.0% 2/1/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 10/3/2023 NAP 11/7/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
8.04 Property   1 Henderson 0.8% 15.5%         867 Premier Way Henderson Chester TN 38340 Industrial Manufacturing 1996 NAP 170,843 SF   8,564,114 8,564,114 8,143,060                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,303,881 295,554 1,008,326 30,752 25,603 951,971         13,600,000 As Is 10/16/2023     100.0% 6/1/2024 Yes SSW Advanced Technologies 170,843 100.0% 2/1/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 10/4/2023 NAP 11/7/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
8.05 Property   1 Clinton 0.5% 10.5%         2005 South 19th Street Clinton Clinton IA 52732 Industrial Manufacturing 1900 2015 169,018 SF   5,793,371 5,793,371 5,508,540                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 914,467 234,974 679,493 38,874 18,147 622,472         9,200,000 As Is 10/11/2023     100.0% 6/1/2024 Yes SSW Advanced Technologies 169,018 100.0% 2/1/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 10/20/2023 NAP 11/7/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
8.06 Property   1 Madison 0.5% 9.6%         1129 Myatt Boulevard Madison Davidson TN 37115 Industrial Manufacturing 1992 NAP 51,068 SF   5,289,600 5,289,600 5,029,537                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 696,506 130,677 565,829 9,703 18,355 537,772         8,400,000 As Is 10/17/2023     100.0% 6/1/2024 Yes SSW Advanced Technologies 51,068 100.0% 2/1/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 10/4/2023 NAP 11/7/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
8.07 Property   1 Elizabethtown 0.3% 6.3%         1100 West Park Road Elizabethtown Hardin KY 42701 Industrial Manufacturing 1978 NAP 102,061 SF   3,463,429 3,463,429 3,293,150                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 604,480 191,691 412,789 10,206 14,301 388,281         5,500,000 As Is 12/29/2023     100.0% 6/1/2024 Yes SSW Advanced Technologies 102,061 100.0% 2/1/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 10/3/2023 NAP 11/7/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
9.00 Loan   1 Citadel Crossing - Colorado Springs 3.8% 100.0% CREFI CREFI NAP NAP 507-749 and 801-975 North Academy Boulevard Colorado Springs El Paso CO 80909 Retail Anchored 1988 NAP 356,912 SF 114.87 41,000,000 41,000,000 41,000,000 8.13000%   8.13000% NAP 281,632.99 NAP 3,379,595.88 Interest Only No Actual/360 60 60 60 60 0 0 5/24/2024 0 1/6/1900 7/6/2024 NAP 6/6/2029 NAP 0 0 L(24),D(32),O(4) 5,566,293 1,335,239 4,231,054 3/31/2024 T-12 5,636,779 1,344,629 4,292,150 12/31/2023 T-12 5,010,914 1,325,665 3,685,249 12/31/2022 T-12 89.5% 5,971,897 1,402,436 4,569,461 65,614 0 4,503,847 1.35 1.33 11.1% 11.0% 67,100,000 Prospective Market Value Upon Stabilization 5/2/2025 61.1% 61.1% 92.2% 5/1/2024 No Vintage Stock 45,900 12.9% 8/31/2027 Restaurant Depot 30,449 8.5% 2/29/2032 PetSmart 28,176 7.9% 9/30/2029 Burlington Coat Factory 24,124 6.8% 6/30/2034 Office Depot 22,500 6.3% 5/31/2026 5/1/2024 NAP 5/1/2024 NAP NAP No Fee NAP NAP NAP NAP 25,901 25,901 0 Springing 0 5,468 0 1,500,000 Springing 1,500,000 0 0 0 1,191,118 3,530,637 0 Unfunded Obligations Reserve 0 0 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 Patrick M. Nesbitt and Patrick Nesbitt, as Trustee of the Patrick M. Nesbitt Family Trust Patrick M. Nesbitt and Patrick Nesbitt, as Trustee of the Patrick M. Nesbitt Family Trust No No Refinance   41,000,000 0 0 0 41,000,000 27,297,083 0 2,512,922 6,247,656 4,942,339 0 41,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
10.00 Loan   7 Rhino Portfolio 3 3.4%   BANA, BCREI BANA NAP NAP Various Various Various Various Various Various Various Various Various 1,100,563 SF 124.62 37,150,000 37,150,000 37,150,000 6.93200%   6.93200% NAP 217,583.77 NAP 2,611,005.24 Interest Only No Actual/360 120 115 120 115 0 0 12/19/2023 5 1/6/1900 2/6/2024 NAP 1/6/2034 NAP 0 0 L(24),YM1(89),O(7) 17,559,556 6,798,064 10,761,492 Various T-12 15,185,348 6,416,874 8,768,474 12/31/2022 T-12 13,199,062 6,105,582 7,093,480 12/31/2021 T-12 92.8% 22,679,232 7,590,897 15,088,334 220,888 841,335 14,026,111 1.57 1.46 11.0% 10.2% 220,113,997 Various Various 62.3% 62.3% 94.8% Various                                                                 404,449 201,224 0 Springing 0 18,407 0 0 61,203 2,203,325 0 0 0 107,625 14,281,504 0 Upfront TI/LC Reserve ($11,354,359.61); Free Rent Reserve ($2,414,573.70); Static Insurance Reserve ($512,570.25) 0 1,300,000 $1,300,000 deposited into the Trader Joe's Holdback Reserve to be distributed to the borrower upon certain conditions in the loan agreement. Soft Springing Yes No Yes No 37,150,000 100,000,000 585,689.81 803,273.58 NAP NAP 137,150,000 803,273.58 62.3% 1.46 11.0% NAP NAP NAP NAP NAP NAP NAP Yes Mezzanine Sanjiv Chopra Sanjiv Chopra No No Refinance   137,150,000 1,477,130 0 0 138,627,130 118,577,299 0 3,956,255 16,093,577 0 0 138,627,130 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
10.01 Property   1 The Summit 2.2% 64.6%         13925 South Virginia Street Reno Washoe NV 89511 Retail Anchored 2005, 2006, 2007 NAP 391,416 SF   23,985,654 23,985,654 23,985,654                                                     9,479,615 2,942,597 6,537,018 9/30/2023 T-12 8,627,098 2,906,016 5,721,082 12/31/2022 T-12 7,849,263 2,845,074 5,004,189 12/31/2021 T-12 95.0% 12,646,022 3,193,861 9,452,162 58,712 563,120 8,830,330         138,713,944 As Is with Escrow 10/5/2023     96.5% 12/12/2023 No Century Theatres 49,605 12.7% 5/31/2027 Dave and Busters 20,156 5.1% 1/31/2040 Old Navy 17,046 4.4% 4/30/2029 Trader Joe's 14,850 3.8% 11/14/2034 PetCo 13,486 3.4% 6/30/2034 10/12/2023 NAP 10/12/2023 10/12/2023 9% No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
10.02 Property   1 Blvd 2500 0.4% 12.4%         2500 Carlisle Boulevard Northeast Albuquerque Bernalillo NM 87110 Multifamily Low Rise 1970 2020 128,922 SF   4,604,812 4,604,812 4,604,812                                                     3,203,674 1,598,620 1,605,054 9/30/2023 T-12 3,158,368 1,485,359 1,673,009 12/31/2022 T-12 2,170,634 1,533,798 636,836 12/31/2021 T-12 87.5% 3,343,868 1,634,090 1,709,778 75,142 4,069 1,630,567         34,218,251 As Is with Escrow 10/10/2023     92.0% 11/24/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 10/12/2023 NAP 10/12/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
10.03 Property   1 Jackson 0.3% 7.4%         1250-1355 Boardman Road Jackson Jackson MI 49202 Retail Anchored 1966 2023 138,513 SF   2,762,887 2,762,887 2,762,887                                                     860,609 306,967 553,642 9/30/2023 T-12 420,752 292,649 128,103 12/31/2022 T-12 143,890 305,863 (161,973) 12/31/2021 T-12 95.0% 1,817,664 594,828 1,222,836 20,777 76,165 1,125,894         14,287,158 As Is with Escrow 10/10/2023     96.7% 12/11/2023 No Hobby Lobby 56,340 40.7% 5/31/2032 Planet Fitness 30,000 21.7% 7/31/2032 Burlington  21,700 15.7% 2/28/2035 Jackson Public Schools 9,540 6.9% 5/31/2034 Buckle 6,670 4.8% 1/31/2034 10/12/2023 NAP 10/12/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
10.04 Property   1 Haymarket 0.2% 7.1%         4100 Merle Hay Road Des Moines Polk IA 50322 Retail Anchored 1973 1994 229,413 SF   2,627,452 2,627,452 2,627,452                                                     2,447,451 1,237,738 1,209,712 9/30/2023 T-12 1,748,318 1,138,485 609,834 12/31/2022 T-12 2,230,578 1,052,495 1,178,083 12/31/2021 T-12 91.9% 2,432,978 1,164,743 1,268,235 34,412 101,526 1,132,297         13,683,212 As Is with Escrow 10/23/2023     92.6% 12/11/2023 No Burlington 91,261 39.8% 6/30/2030 Hobby Lobby 67,594 29.5% 12/31/2027 Harbor Freight Tools 23,921 10.4% 12/31/2032 Famous Footwear 10,057 4.4% 11/30/2028 Kids Closet Connection 10,000 4.4% 12/31/2026 11/2/2023 NAP 11/1/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
10.05 Property   1 North Aurora 0.1% 4.2%         1610-1780 Orchard Gateway Boulevard North Aurora Kane IL 60542 Retail Shadow Anchored 2006 NAP 85,758 SF   1,571,054 1,571,054 1,571,054                                                     1,300,544 568,772 731,772 9/30/2023 T-12 1,230,812 594,365 636,447 12/31/2022 T-12 804,697 368,352 436,345 12/31/2021 T-12 80.8% 1,139,491 485,769 653,723 12,864 52,258 588,601         9,511,432 As Is with Escrow 10/27/2023     86.8% 12/11/2023 No Michael's 21,730 25.3% 2/28/2027 Petco 15,555 18.1% 4/30/2027 Kids Empire 10,004 11.7% 8/31/2034 Dollar Tree 9,317 10.9% 8/31/2026 Hallmark 8,015 9.3% 2/29/2028 11/8/2023 NAP 11/8/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
10.06 Property   1 At Home - Arlington 0.1% 3.5%         750 East Rand Road Arlington Heights Cook IL 60004 Retail Single Tenant 1989 2022 100,501 SF   1,300,182 1,300,182 1,300,182                                                     267,663 143,369 124,294 8/30/2023 T-12 NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,118,427 485,743 632,684 15,075 37,688 579,921         7,800,000 As Is 10/10/2023     100.0% 6/1/2024 Yes At Home 100,501 100.0% 6/30/2033 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 10/12/2023 NAP 10/12/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
10.07 Property   1 Houma 0.0% 1%         104 Armour Drive Houma Terrebonne LA 70364 Retail Single Tenant 1973 1997 26,040 SF   297,958 297,958 297,958                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 180,781 31,864 148,918 3,906 6,510 138,502         1,900,000 As Is 10/9/2023     100.0% 6/1/2024 Yes Big Lots 26,040 100.0% 1/31/2028 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 10/12/2023 NAP 10/12/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
11.00 Loan   1 Anaheim Desert Palm Hotel & Suites 2.8% 100% WFB WFB Group 3 NAP 631 West Katella Avenue Anaheim Orange CA 92802 Hospitality Limited Service 1988 2004 196 Rooms 152,933.67 29,975,000 29,975,000 29,975,000 6.72700%   6.72700% NAP 170,368.67 NAP 2,044,424.04 Interest Only No Actual/360 120 119 120 119 0 0 5/1/2024 1 1/11/1900 6/11/2024 NAP 5/11/2034 NAP 0 0 L(25),D(91),O(4) 13,893,955 7,017,701 6,876,254 3/31/2024 T-12 13,647,690 6,981,566 6,666,124 12/31/2023 T-12 13,023,795 6,725,405 6,298,390 12/31/2022 T-12 82.1% 13,827,075 6,946,109 6,880,965 553,083 0 6,327,882 3.37 3.10 23.0% 21.1% 68,800,000 As Is 3/19/2024 43.6% 43.6% 82.1% 3/31/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/29/2024 NAP 3/29/2024 3/29/2024 8% No Fee NAP NAP NAP NAP 55,884 27,942 0 Springing 0 34,568 0 0 0 0 0 0 0 0 0 0 NAP 0 0 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 Arun H. Patel and Shirish H. Patel Arun H. Patel and Shirish H. Patel No No Refinance   29,975,000 0 0 0 29,975,000 24,676,756 0 395,477 55,884 4,846,884 0 29,975,000 NAP 8/5/1900 6/27/1900 1/0/1900 8/5/1900 6/27/1900 1/0/1900 8/2/1900 6/24/1900 1/0/1900 7/18/1900 6/16/1900 1/0/1900                  
12.00 Loan   2 Baxters Industrial Portfolio 2.7%   GSBI GSMC Group 2 NAP Various Various Various Various Various Industrial Warehouse/Manufacturing Various Various 421,940 SF 70.09 29,575,000 29,575,000 27,967,698 6.77100%   6.77100% 192,235.91 169,194.67 2,306,830.92 2,030,336.04 Interest Only, Amortizing Balloon No Actual/360 60 58 120 118 360 360 4/5/2024 2 1/6/1900 5/6/2024 5/6/2029 4/6/2034 NAP 0 0 L(26),DorYM1(87),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 3,580,691 107,421 3,473,270 72,293 105,485 3,295,492 1.51 1.43 11.7% 11.1% 46,200,000 As Is Various 64.0% 60.5% 100.0% 6/1/2024                                                                 0 Springing 0 Springing 0 Springing 84,388 0 Springing 421,940 0 0 0 0 0 0 NAP 0 0 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 Yes Mezzanine Angelo, Gordon & Co., L.P. and TPG, Inc. AG Net Lease IV (Q) Corp., AG Net Lease IV Corp., and AG Net Lease Realty Fund IV Investments (H-1), L.P. No No Acquisition   29,575,000 61,467,265 0 0 91,042,265 0 45,250,000 45,792,265 0 0 0 91,042,265 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
12.01 Property   1 Baxters East Bernstadt 1.5% 54%         2742 US Highway 25 East Bernstadt Laurel KY 40729 Industrial Warehouse/Manufacturing 1960 2008 262,517 SF   15,875,321 15,875,321 15,012,551                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,922,049 57,661 1,864,388 42,003 65,629 1,756,756         24,700,000 As Is 3/12/2024     100.0% 6/1/2024 Yes Baxters North America 262,517 100.0% 4/5/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/22/2024 NAP 3/12/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
12.02 Property   1 Baxters Salem 1.3% 46%         556 Murlark Avenue Northwest Salem Polk OR 97304 Industrial Warehouse/Manufacturing 1972 NAP 159,423 SF   13,699,679 13,699,679 12,955,147                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,658,641 49,759 1,608,882 30,290 39,856 1,538,736         21,500,000 As Is 3/13/2024     100.0% 6/1/2024 Yes Baxters North America 159,423 100.0% 4/5/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/22/2024 NAP 3/12/2024 2/22/2024 14% No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
13.00 Loan   1 Hilton Garden Inn Lompoc 2.5% 100% MSBNA MSMCH NAP NAP 1201 North H Street Lompoc Santa Barbara CA 93436 Hospitality Select Service 2017 NAP 156 Rooms 173,076.92 27,000,000 27,000,000 25,869,987 7.90000%   7.90000% 196,237.46 180,218.75 2,354,849.52 2,162,625.00 Interest Only, Amortizing Balloon No Actual/360 60 57 120 117 360 360 2/14/2024 3 1/1/1900 4/1/2024 4/1/2029 3/1/2034 NAP 5 5 L(27),D(89),O(4) 8,633,654 4,893,265 3,740,389 12/31/2023 T-12 8,510,250 4,578,464 3,931,786 12/31/2022 T-12 7,606,151 3,990,359 3,615,792 12/31/2021 T-12 65.1% 8,633,654 4,982,272 3,651,382 345,346 0 3,306,036 1.55 1.40 13.5% 12.2% 42,000,000 As Is 8/23/2023 64.3% 61.6% 65.1% 12/31/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 11/22/2023 NAP 11/22/2023 11/22/2023 7% No Fee NAP NAP NAP NAP 42,772 21,386 0 Springing 0 28,779 0 0 0 0 0 0 0 0 0 0 NAP 0 0 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 Atul P Patel Sardaben P. Patel No No Refinance   27,000,000 0 0 0 27,000,000 21,062,408 0 540,037 42,772 5,354,783 0 27,000,000 6/30/2037 7/11/1900 5/4/1900 1/0/1900 7/11/1900 5/4/1900 1/0/1900 6/26/1900 5/2/1900 1/0/1900 6/7/1900 4/15/1900 1/0/1900                  
14.00 Loan   1 201 West 72nd Street 2.4% 100% CREFI CREFI NAP NAP 201 West 72nd Street New York New York NY 10023 Retail Anchored 1938 1990 29,385 SF 872.89 25,650,000 25,650,000 25,650,000 6.86000%   6.86000% NAP 148,669.06 NAP 1,784,028.72 Interest Only No Actual/360 120 120 120 120 0 0 5/29/2024 0 1/6/1900 7/6/2024 NAP 6/6/2034 NAP 0 0 L(24),D(92),O(4) 5,242,551 2,150,236 3,092,314 2/29/2024 T-12 5,262,724 1,995,859 3,266,865 12/31/2023 T-12 5,059,068 2,002,074 3,056,994 12/31/2022 T-12 95.0% 5,611,155 2,051,295 3,559,860 4,408 146,955 3,408,497 2.00 1.91 13.9% 13.3% 45,800,000 As Is 3/21/2024 56.0% 56.0% 100.0% 4/1/2024 No Bloomingdale's, LLC 24,985 85.0% 3/31/2032 FedEx Office and Print 4,400 15.0% 7/31/2028 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/4/2024 NAP 4/4/2024 NAP NAP No Fee NAP NAP NAP NAP 135,545 135,545 0 Springing 0 367 0 0 Springing 0 0 0 0 0 14,312 Springing Condominium Reserve 0 0 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 Broadway/72nd Associates II, L.L.C. Broadway/72nd Associates II, L.L.C. No No Refinance   25,650,000 2,448,279 0 0 28,098,279 26,409,805 0 1,538,617 149,857 0 0 28,098,279 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
15.00 Loan   1 Richland Town Center 2.4% 100% WFB WFB NAP NAP 370 Town Centre Drive Johnstown Cambria PA 15904 Retail Anchored 2004 NAP 289,570 SF 87.92 25,500,000 25,460,163 22,088,355 6.68800%   6.68800% 164,342.96 NAP 1,972,115.52 NAP Amortizing Balloon No Actual/360 0 0 120 118 360 358 4/8/2024 2 1/11/1900 5/11/2024 5/11/2024 4/11/2034 NAP 0 0 L(26),D(89),O(5) 4,412,782 1,238,968 3,173,814 12/31/2023 T-12 4,224,564 1,156,669 3,067,896 12/31/2022 T-12 4,013,126 1,114,455 2,898,671 12/31/2021 T-12 92.6% 4,477,362 1,374,534 3,102,829 81,447 145,000 2,876,382 1.57 1.46 12.2% 11.3% 41,300,000 As Is 1/24/2024 61.6% 53.5% 95.7% 1/23/2024 No TJ Maxx 50,490 17.4% 1/31/2025 Best Buy 33,862 11.7% 3/31/2027 Richland Mall Cinemas 27,220 9.4% 11/30/2033 Ross Dress for Less 23,678 8.2% 1/31/2030 Michaels 21,300 7.4% 2/28/2029 2/8/2024 NAP 2/8/2024 NAP NAP No Fee NAP NAP NAP NAP 51,581 51,581 0 Springing 0 6,787 0 250,000 12,083 750,000 0 0 0 0 0 0 NAP 0 0 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 John R. McGill and Matthew J. McGill John R. McGill and Matthew J. McGill No No Refinance   25,500,000 233,889 0 0 25,733,889 24,895,766 0 536,541 301,581 0 0 25,733,889 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
16.00 Loan   1 1812 North Moore 2.3% 100% CREFI CREFI NAP NAP 1812 North Moore Street Arlington Arlington VA 22209 Office CBD 2013 NAP 543,697 SF 318.19 25,000,000 25,000,000 24,373,642 7.53000%   7.53000% 175,317.48 159,053.82 2,103,809.76 1,908,645.84 Interest Only, Amortizing Balloon No Actual/360 24 23 60 59 360 360 4/10/2024 1 1/6/1900 6/6/2024 6/6/2026 5/6/2029 NAP 0 0 L(25),D(28),O(7) 28,300,056 9,525,214 18,774,842 1/31/2024 T-12 28,260,517 9,469,511 18,791,006 12/31/2023 T-12 26,441,098 8,973,322 17,467,776 12/31/2022 T-12 86.7% 33,560,948 9,502,562 24,058,387 108,739 1,360,002 22,589,645 1.65 1.55 13.9% 13.1% 315,000,000 As Is 2/20/2024 54.9% 53.5% 83.8% 3/1/2024 No Nestle USA, Inc. 299,779 55.1% 11/30/2032 Humana Inc. 46,784 8.6% 5/31/2031 Oracle America, Inc. 46,262 8.5% 8,187 SF expiring 6/30/2030; 38,075 SF expiring 12/31/2029 Graham Holdings Company 24,023 4.4% 4/30/2040 National Electrical Manufacturers Association 11,839 2.2% 9/30/2036 3/15/2024 NAP 3/15/2024 NAP NAP No Fee NAP NAP NAP NAP 1,847,102 307,850 22,645 2,516 0 9,062 0 0 113,334 0 0 0 0 0 7,781,444 0 Unfunded Obligations Reserve ($6,245,853); Free Rent Reserve ($1,535,591) 0 0 NAP Hard Springing Yes Yes Yes No 25,000,000 148,000,000 1,037,879.47 1,213,196.95 NAP NAP 173,000,000 1,213,197 1 2 0 NAP NAP NAP NAP NAP NAP NAP Yes Mezzanine Anthony Westreich Anthony Westreich No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
17.00 Loan   1 JLL Plaza Leased Fee 2.2% 100% BANA BANA NAP NAP 1703 West 5th Street Austin Travis TX 78703 Leased Fee Leased Fee 2009 NAP 111,433 SF 212.68 23,700,000 23,700,000 23,700,000 6.34600%   6.34600% NAP 127,074.24 NAP 1,524,890.88 Interest Only - ARD Yes Actual/360 120 119 120 119 0 0 4/5/2024 1 1/1/1900 6/1/2024 NAP 5/1/2034 5/1/2036 5 4 L(25),D(90),O(5) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 100.0% 1,838,452 0 1,838,452 0 0 1,838,452 1.21 1.21 7.8% 7.8% 29,400,000 As Is 3/5/2024 80.6% 80.6% 100.0% 6/1/2024 Yes ATX JLL Plaza LLC 111,433 100.0% 12/14/2112 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/23/2024 NAP 2/23/2024 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 0 0 Springing 0 0 0 0 0 0 0 NAP 0 0 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 Jane B. Holzer Jane B. Holzer No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
18.00 Loan   1 Rancho Bernardo Technology Portfolio 2.0% 100% WFB WFB NAP NAP 16981 Via Tazon & 11501 Rancho Bernardo Road San Diego San Diego CA 92127 Industrial Flex/R&D 1983 2020 89,918 SF 239.11 21,500,000 21,500,000 19,780,218 6.91000%   6.91000% 141,742.87 125,523.67 1,700,914.44 1,506,284.04 Interest Only, Amortizing Balloon No Actual/360 36 31 120 115 360 360 12/22/2023 5 1/11/1900 2/11/2024 2/11/2027 1/11/2034 NAP 0 0 L(29),D(84),O(7) 3,043,524 557,047 2,486,477 12/31/2023 T-12 2,955,528 466,290 2,489,238 12/31/2022 T-12 2,491,980 382,989 2,108,991 12/31/2021 T-12 95.0% 2,991,616 471,541 2,520,075 8,992 134,877 2,376,206 1.48 1.40 11.7% 11.1% 37,560,000 As Complete 11/22/2024 57.2% 52.7% 100.0% 6/1/2024 Yes Millenium Health, LLC 89,918 100.0% 2/28/2033 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 12/11/2023 NAP 12/5/2023 12/5/2023 10% No Fee NAP NAP NAP NAP 122,020 30,505 0 Springing 0 1,499 35,976 0 3,747 269,784 0 0 0 0 600,000 0 Retaining Wall Reserve ($600,000); Major Tenant Reserve (Springing) 0 0 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 David B. Dollinger David B. Dollinger and The David Dollinger Living Trust No No Acquisition                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
19.00 Loan   1 615 Chestnut Street 1.8% 100% WFB WFB NAP NAP 615 Chestnut Street, 27 South 7th Street Philadelphia Philadelphia PA 19106 Office CBD 1980 NAP 402,251 SF 49.68 20,000,000 19,985,150 17,195,539 6.40700%   6.40700% 125,192.86 NAP 1,502,314.32 NAP Amortizing Balloon No Actual/360 0 0 120 119 360 359 5/3/2024 1 1/11/1900 6/11/2024 6/11/2024 5/11/2034 NAP 0 0 L(25),D(90),O(5) 12,553,979 6,080,306 6,473,673 12/31/2023 T-12 11,756,294 4,797,377 6,958,917 12/31/2022 T-12 11,452,927 5,293,569 6,159,358 12/31/2021 T-12 83.1% 11,692,112 6,192,492 5,499,620 80,450 603,377 4,815,793 3.66 3.21 27.5% 24.1% 61,800,000 As Is 4/2/2024 32.3% 27.8% 83.4% 3/25/2024 No GSA - US Attorney's Office 155,000 38.5% 7/31/2034 American Association for Cancer Research (AACR) 85,950 21.4% 12/31/2038 GSA - FEMA 48,242 12.0% 7/14/2029 GSA - US Department of Labor  7,460 1.9% 3/31/2036 Eagle Fitness Center 6,900 1.7% MTM 4/4/2024 NAP 4/3/2024 NAP NAP No Fee NAP NAP NAP NAP 253,258 126,629 0 Springing 0 6,704 0 0 50,281 0 0 0 0 0 71,294 0 Rent Concession Reserve 0 0 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 I. Robert Wolgin I Robert Wolgin and The Norman Wolgin 2002 Indenture of Trust, Dated December 20, 2002 No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
20.00 Loan   2 White Oak & Westlake Retail Portfolio 1.5%   WFB WFB NAP NAP Various Various Various Various Various Retail Various Various Various 121,907 SF 131.25 16,000,000 16,000,000 16,000,000 6.79800%   6.79800% NAP 91,898.89 NAP 1,102,786.68 Interest Only No Actual/360 120 119 120 119 0 0 4/26/2024 1 1/11/1900 6/11/2024 NAP 5/11/2034 NAP 5 0 L(25),D(90),O(5) 2,754,012 818,081 1,935,931 12/31/2023 T-12 2,244,757 794,493 1,450,264 12/31/2022 T-12 2,212,571 707,009 1,505,562 12/31/2021 T-12 95.0% 2,528,509 779,432 1,749,077 32,737 64,410 1,651,930 1.59 1.50 10.9% 10.3% 24,500,000 Various Various 65.3% 65.3% 100.0% 4/1/2024                                                                 35,520 35,520 0 Springing 100,000 Springing 100,000 350,000 Springing 350,000 0 0 0 0 0 Springing Springing Leasing Reserve 0 0 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 Stanley Werb and Jonathan Gaines Stanley Werb and Jonathan Gaines No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
20.01 Property   1 Westlake Shopping Center 1.0% 67%         119 12th Street Southwest, 209 12th Street Southwest & 289 12th Street Southwest Forest Lake Washington MN 55025 Retail Anchored 1988 NAP 100,481 SF   10,750,000 10,750,000 10,750,000                                                     1,777,285 531,051 1,246,234 12/31/2023 T-12 1,376,708 515,148 861,560 12/31/2022 T-12 1,412,036 461,864 950,172 12/31/2021 T-12 95.0% 1,670,842 504,176 1,166,666 20,096 42,022 1,104,548         13,500,000 As Is 3/15/2024     100.0% 4/1/2024 No Petsmart #2787 (Petsmart, Inc.) 20,730 20.6% 1/31/2028 Northern Tool & Equipment (Northern Tool And Equipment Company, Inc.) 20,500 20.4% 9/30/2030  Michaels Stores, Inc 20,203 20.1% 2/28/2033 Aldi #12 (Aldi, Inc.) 17,312 17.2% 7/31/2029  Yetzer Home Store, Inc. 9,655 9.6% 11/30/2027 3/22/2024 NAP 3/22/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
20.02 Property   1 White Oak Village 0.5% 33%         1099, 1199 & 1215 Timber Drive East Garner Wake NC 27529 Retail Shadow Anchored 2005 NAP 21,426 SF   5,250,000 5,250,000 5,250,000                                                     976,727 287,030 689,697 12/31/2023 T-12 868,049 279,345 588,704 12/31/2022 T-12 800,535 245,145 555,390 12/31/2021 T-12 95.0% 857,666 275,256 582,410 12,641 22,387 547,382         11,000,000 As Is (Including Excess Land) 3/25/2024     100.0% 4/1/2024 No Mia's Bistro (Mia USA, Inc) 5,314 24.8% 4/30/2027 La Cocina Restaurante Mexicana (La Cocina #6, Inc.) 5,250 24.5% 3/31/2028 Mattress Warehouse (Mattress Warehouse Of Garner, LLC) 4,799 22.4% 1/31/2027 Armed Forces (United States of America) 1,996 9.3% 6/2/2025 Krafty Burgers And Brews (Crafty'S Garner LLC) 1,600 7.5% 9/30/2025 3/22/2024 NAP 3/21/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
21.00 Loan   1 Arundel Mills and Marketplace 1.4% 100% WFB, SGFC, DBRI, CREFI WFB Group 1 NAP 7000 and 7600 Arundel Mills Circle Hanover Anne Arundel MD 21076 Retail Super Regional Mall 2000, 2002, 2012 NAP 1,938,983 SF 185.66 15,000,000 15,000,000 15,000,000 7.70100%   7.70100% NAP 97,599.48 NAP 1,171,193.76 Interest Only No Actual/360 120 113 120 113 0 0 10/5/2023 7 1/1/1900 12/1/2023 NAP 11/1/2033 NAP 0 0 L(31),D(83),O(6) 69,724,516 18,198,782 51,525,734 8/31/2023 T-12 69,984,212 17,233,956 52,750,256 12/31/2022 T-12 69,401,934 17,383,847 52,018,087 12/31/2021 T-12 98.1% 74,354,670 16,415,944 57,938,726 278,330 2,102,842 55,557,554 2.06 1.98 16.1% 15.4% 870,600,000 As Is 9/1/2023 41.4% 41.4% 98.3% 6/15/2023 No Live Casino Hotel Maryland 547,331 28.2% 7/13/2115 Bass Pro Shops Outdoor 127,672 6.6% 10/3/2026 Cinemark Theatres 107,190 5.5% 12/31/2025 Burlington 81,282 4.2% 1/31/2026 Medieval Times 66,244 3.4% 8/31/2033 9/25/2023; 9/29/2023 NAP 9/8/2023 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 0 0 231,942 5,566,608 0 0 0 0 4,384,369 0 Outstanding TI/LC Reserve ($3,796,478); Gap Rent Reserve ($587,891) 0 0 NAP Hard Springing Yes Yes Yes No 15,000,000 345,000,000 2,244,788.02 2,342,387.50 NAP NAP 360,000,000 2,342,387.50 41.4% 1.98 16.1% NAP NAP NAP NAP NAP NAP NAP No NAP Simon Property Group, L.P. Simon Property Group, L.P. No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
22.00 Loan   1 147 North Main Street 1.1% 100% JPMCB JPMCB Group 2 NAP 147 North Main Street South Deerfield Franklin MA 01373 Industrial Manufacturing 1965 2000 286,867 SF 42.14 12,090,000 12,090,000 11,438,213 6.81100%   6.81100% 78,906.36 69,573.89 946,876.32 834,886.68 Interest Only, Amortizing Balloon No Actual/360 60 60 120 120 360 360 5/21/2024 0 1/6/1900 7/6/2024 7/6/2029 6/6/2034 NAP 0 0 YM1(24),DorYM1(90),O(6) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,468,953 0 1,468,953 28,687 0 1,440,267 1.55 1.52 12.2% 11.9% 18,400,000 As Is 3/12/2024 65.7% 62.2% 100.0% 6/1/2024 Yes Pelican 286,867 100.0% 3/31/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 5/6/2024 5/3/2024 3/15/2024 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 57,384 0 0 0 0 0 0 0 0 Springing Go-Dark Reserve 1,517,580 0 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 Yes Mezzanine Angelo, Gordon & Co., L.P. and TPG, Inc. AG Net Lease IV Corp., AG Net Lease IV (Q) Corp. and AG Net Lease Realty Fund IV Investments (H-1), L.P. No No Acquisition                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
23.00 Loan   1 Candlewood Suites McDonough 1.1% 100% WFB WFB NAP NAP 136 Highway 81 West McDonough Henry GA 30253 Hospitality Extended Stay 2018 NAP 107 Rooms 110,060.23 11,795,000 11,776,444 10,573,763 8.01300%   8.01300% 86,654.45 NAP 1,039,853.40 NAP Amortizing Balloon No Actual/360 0 0 120 117 360 357 2/29/2024 3 1/11/1900 4/11/2024 4/11/2024 3/11/2034 NAP 0 0 L(27),D(90),O(3) 3,963,665 2,033,865 1,929,800 11/30/2023 T-12 3,978,197 2,081,139 1,897,059 12/31/2022 T-12 3,729,660 1,780,871 1,948,790 12/31/2021 T-12 89.0% 3,963,665 2,054,773 1,908,892 158,547 0 1,750,345 1.84 1.68 16.2% 14.9% 17,000,000 As Is 1/5/2024 69.3% 62.2% 89.0% 11/30/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/18/2024 NAP 1/18/2024 NAP NAP No Fee NAP NAP NAP NAP 27,032 6,758 4,931 4,931 0 13,212 0 0 0 0 0 0 0 0 402,500 Springing PIP Reserve 0 0 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 Madhusudhan Kopparapu and Jigar Trivedi Madhusudhan Kopparapu and Jigar Trivedi No No Acquisition                           2/29/2039 4/21/1900 4/8/1900 1/0/1900 4/21/1900 4/8/1900 1/0/1900 4/18/1900 4/8/1900 1/0/1900 4/5/1900 4/2/1900 1/0/1900                  
24.00 Loan   1 Del Sol Inn 0.9% 100% WFB WFB Group 3 NAP 1604 South Harbor Boulevard Anaheim Orange CA 92802 Hospitality Limited Service 1963 1982 59 Rooms 169,491.53 10,000,000 10,000,000 10,000,000 6.70700%   6.70700% NAP 56,667.94 NAP 680,015.28 Interest Only No Actual/360 120 119 120 119 0 0 5/1/2024 1 1/11/1900 6/11/2024 NAP 5/11/2034 NAP 0 0 L(25),D(91),O(4) 5,207,155 2,261,217 2,945,938 3/31/2024 T-12 5,098,576 2,232,485 2,866,091 12/31/2023 T-12 4,532,955 2,000,299 2,532,656 12/31/2022 T-12 96.5% 5,193,126 2,237,448 2,955,678 207,725 0 2,747,953 4.35 4.04 29.6% 27.5% 22,400,000 As Is 3/19/2024 44.6% 44.6% 98.1% 3/31/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/29/2024 NAP 3/29/2024 3/29/2024 16% No Fee NAP NAP NAP NAP 8,152 4,076 0 Springing 0 12,983 0 0 0 0 0 0 0 0 0 0 NAP 0 0 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 Arun H. Patel and Shirish H. Patel Arun H. Patel and Shirish H. Patel No No Refinance                           NAP 8/17/1900 8/9/1900 1/0/1900 8/17/1900 8/9/1900 1/0/1900 8/13/1900 8/5/1900 1/0/1900 7/17/1900 7/12/1900 1/0/1900                  
25.00 Loan   1 Ramada Inn - Rockville Centre, NY 0.8% 100% BANA BANA NAP NAP 1000 Sunrise Highway Rockville Centre Nassau NY 11570 Hospitality Limited Service 1950, 1961, 1987 2013 98 Rooms 88,265.31 8,650,000 8,650,000 8,650,000 7.07700%   7.07700% NAP 51,721.89 NAP 620,662.68 Interest Only No Actual/360 120 116 120 116 0 0 2/1/2024 4 1/1/1900 3/1/2024 NAP 2/1/2034 NAP 5 4 L(28),D(88),O(4) 4,325,063 2,363,874 1,961,189 12/31/2023 T-12 3,623,400 2,211,556 1,411,844 12/31/2022 T-12 3,422,257 1,998,632 1,423,624 12/31/2021 T-12 78.6% 4,325,063 2,366,925 1,958,138 173,003 0 1,785,135 3.15 2.88 22.6% 20.6% 19,600,000 When Complete 1/1/2025 44.1% 44.1% 78.6% 12/31/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/22/2024 NAP 12/12/2023 NAP NAP No Fee NAP NAP NAP NAP 80,505 21,402 44,592 22,629 0 4% of 1/12th of the annual gross revenues 0 0 0 0 0 0 0 0 530,000 0 Hotel Refresh Reserve ($280,000); Franchise Agreement Renewal Reserve ($250,000) 0 0 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 Gaurang Parikh Rajen Shah and Ochhav Shah No No Refinance                           1/31/2028 6/1/1900 4/29/1900 1/0/1900 6/1/1900 4/29/1900 1/0/1900 5/9/1900 4/10/1900 1/0/1900 4/26/1900 4/4/1900 1/0/1900                  
26.00 Loan   1 William Penn Plaza 0.7% 100% MSBNA MSMCH NAP NAP 3011-3099 William Penn Highway Easton Northampton PA 18045 Retail Anchored 1985 NAP 91,011 SF 87.90 8,000,000 8,000,000 8,000,000 6.83000%   6.83000% NAP 46,165.74 NAP 553,988.88 Interest Only No Actual/360 120 120 120 120 0 0 5/28/2024 0 1/5/1900 7/5/2024 NAP 6/5/2034 NAP 0 0 L(24),D(92),O(4) 1,346,385 409,667 936,718 3/31/2024 T-12 1,335,541 402,915 932,626 12/31/2023 T-12 1,337,821 410,868 926,954 12/31/2022 T-12 83.8% 1,267,107 404,434 862,673 16,275 69,875 776,523 1.56 1.40 10.8% 9.7% 12,600,000 Market Value excluding Pad Site 4/4/2024 63.5% 63.5% 91.0% 3/31/2024 No Weis Markets 66,338 72.9% 4/30/2027 Luxy Spa And Nails, LLC 2,800 3.1% 1/31/2028 Lehigh Valley Dry Cleaners 2,800 3.1% 9/30/2025 New Imperial Chinese Restaurant (Wei G You) 2,000 2.2% 6/30/2027 Lendmark Financial Services 1,400 1.5% 4/30/2029 4/9/2024 NAP 4/9/2024 NAP NAP No Fee NAP NAP NAP NAP 4,020 2,010 0 Springing 0 1,353 16,239 0 17,065 204,775 0 0 0 62,454 0 0 NAP 0 0 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 Time Equities TEI LLC No Yes Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
27.00 Loan   1 Powers Ferry Shopping Center 0.7% 100% WFB WFB NAP NAP 6370 & 6380 Powers Ferry Road NW Sandy Springs Fulton GA 30339 Retail Anchored 2009 NAP 25,878 SF 289.82 7,500,000 7,500,000 7,500,000 7.62500%   7.62500% NAP 48,318.14 NAP 579,817.68 Interest Only No Actual/360 84 83 84 83 0 0 4/30/2024 1 1/11/1900 6/11/2024 NAP 5/11/2031 NAP 0 0 L(24),YM1(53),O(7) 945,923 157,324 788,599 2/29/2024 T-12 946,256 161,639 784,617 12/31/2023 T-12 886,044 156,882 729,162 12/31/2022 T-12 93.4% 981,319 172,208 809,112 5,176 12,939 790,997 1.40 1.36 10.8% 10.5% 11,650,000 As Is 3/21/2024 64.4% 64.4% 93.4% 4/18/2024 No CVS Pharmacy 12,900 49.8% 1/31/2030 Pro Balance Fitness LLC 2,800 10.8% 2/28/2026 Porter Pizza & Brewery Powers Ferry LLC 2,277 8.8% 1/31/2025 Powers Ferry Family Dentistry 1,991 7.7% 4/15/2025 Rio Brazilian Wax 1,410 5.4% 6/30/2027 4/1/2024 NAP 3/29/2024 NAP NAP No Fee NAP NAP NAP NAP 49,134 8,189 1,388 1,388 0 432 0 0 1,079 0 0 0 0 0 0 Springing Key Tenant Reserve Funds 0 0 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 Jonathan Penner Jonathan Penner No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
28.00 Loan   1 Bon Aire Park Owners, Inc. 0.6% 100% NCB NCB NAP NAP 1-25 Milford Lane, 1-10 Oxford Court & 23-69 Bon Aire Circle Suffern Rockland NY 10901 Multifamily Cooperative 1965 2003 189 Units 37,037.04 7,000,000 7,000,000 6,007,049 6.35000%   6.35000% 43,556.50 NAP 522,678.00 NAP Amortizing Balloon No Actual/360 0 0 120 120 360 360 5/9/2024 0 1/1/1900 7/1/2024 7/1/2024 6/1/2034 NAP 10 10 YM1(113),1%(3),O(4) NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 97.0% 5,376,475 2,052,856 3,323,619 66,150 0 3,257,469 6.36 6.23 47.5% 46.5% 36,800,000 As Is 4/2/2024 19.0% 16.3% 97.0% 4/2/2024 No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/8/2024 NAP 4/9/2024 NAP NAP No Fee NAP NAP NAP NAP 487,500 66,000 0 Springing 0 0 0 0 0 0 0 0 0 0 0 0 NAP 0 0 NAP None None No No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP Yes Unsecured NAP NAP No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP  NAP             54,300,000 12.9% 0.0% 0 0 0 NAP
29.00 Loan   1 303 Self Storage Broadway 0.6% 100% GSBI GSMC NAP NAP 1699 South Broadway Denver Denver CO 80210 Self Storage Self Storage 1999 NAP 85,589 SF 78.28 6,700,000 6,700,000 6,700,000 6.19900%   6.19900% NAP 35,091.79 NAP 421,101.48 Interest Only No Actual/360 120 119 120 119 0 0 5/6/2024 1 1/6/1900 6/6/2024 NAP 5/6/2034 NAP 0 0 L(25),D(91),O(4) 1,681,666 638,298 1,043,368 3/31/2024 T-12 1,681,708 637,771 1,043,936 12/31/2023 T-12 1,661,604 595,614 1,065,990 12/31/2022 T-12 100.0% 1,682,383 725,882 956,502 17,974 0 938,528 2.27 2.23 14.3% 14.0% 19,330,000 As Is 3/4/2024 34.7% 34.7% 79.9% 3/31/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/18/2024 NAP 3/15/2024 NAP NAP No Fee NAP NAP NAP NAP 0 27,386 0 Springing 0 Springing 0 0 0 0 0 0 0 0 0 0 NAP 0 0 NAP None None No No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Harvey L Saipe and Marcus G. Aden Harvey L Saipe and Marcus G. Aden No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
30.00 Loan   4 Snapbox Drop n Roll 0.6%   WFB WFB NAP NAP Various Various Various NC Various Self Storage Self Storage Various Various 80,700 SF 81.47 6,575,000 6,575,000 6,575,000 6.22300%   6.22300% NAP 34,570.42 NAP 414,845.04 Interest Only No Actual/360 120 116 120 116 0 0 1/12/2024 4 1/11/1900 3/11/2024 NAP 2/11/2034 NAP 0 0 L(28),D(87),O(5) 853,358 210,251 643,107 11/30/2023 T-12 667,558 173,785 493,773 12/31/2022 T-12 NAV NAV NAV NAV NAV 84.0% 907,926 192,206 715,719 8,070 -4,000 711,649 1.73 1.72 10.9% 10.8% 11,750,000 As Is 12/1/2023 56.0% 56.0% 86.1% 11/10/2023                                                                 13,090 1,870 1,837 1,837 80,000 0 16,140 0 0 0 0 0 0 0 0 0 NAP 0 0 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 Jacob Ramage Jacob Ramage Yes No Acquisition                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
30.01 Property   1 2222 Hwy 163 0.3% 44%         2222 NC-163 West Jefferson Ashe NC 28694 Self Storage Self Storage 2021-2022 NAP 29,000 SF   2,860,279 2,860,279 2,860,279                                                     306,659 76,653 230,006 11/30/2023 T-12 239,891 63,549 176,342 12/31/2022 T-12 NAV NAV NAV NAV NAV 89.1% 382,351 71,851 310,500 2,900 -1,000 308,600         4,750,000 As Is 12/1/2023     90.7% 11/10/2023 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 Yes - AE Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
30.02 Property   1 Millers Creek 0.2% 28%         165 Green Acres Mill Road Millers Creek Wilkes NC 28651 Self Storage Self Storage 2019, 2022 NAP 28,875 SF   1,864,826 1,864,826 1,864,826                                                     305,337 74,982 230,355 11/30/2023 T-12 238,857 61,935 176,922 12/31/2022 T-12 NAV NAV NAV NAV NAV 70.5% 270,735 66,902 203,833 2,888 -1,000 201,945         4,100,000 As Is 12/1/2023     72.2% 11/10/2023 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                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
30.03 Property   1 Mt. Jefferson Road 0.1% 15%         1548 Mount Jefferson Road West Jefferson Ashe NC 28694 Self Storage Self Storage 2020 NAP 9,675 SF   959,031 959,031 959,031                                                     102,308 26,092 76,216 11/30/2023 T-12 80,033 21,720 58,313 12/31/2022 T-12 NAV NAV NAV NAV NAV 95.0% 128,624 24,522 104,102 968 -1,000 104,135         1,500,000 As Is 12/1/2023     96.9% 11/10/2023 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                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
30.04 Property   1 1992 NC-163 0.1% 14%         1992 NC-163 West Jefferson Ashe NC 28694 Self Storage Self Storage 2019 NAP 13,150 SF   890,864 890,864 890,864                                                     139,054 32,524 106,530 11/30/2023 T-12 108,778 26,582 82,196 12/31/2022 T-12 NAV NAV NAV NAV NAV 95.0% 126,216 28,931 97,285 1,315 -1,000 96,970         1,400,000 As Is 12/1/2023     98.5% 11/10/2023 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                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
31.00 Loan   1 Hampton Inn & Suites Center, TX 0.6% 100% GSBI GSMC NAP NAP 141 Express Boulevard Center Shelby TX 75935 Hospitality Limited Service 2011 2023 66 Rooms 90,869.55 6,000,000 5,997,391 5,385,271 8.08500%   8.08500% 44,381.92 NAP 532,583.04 NAP Amortizing Balloon No Actual/360 0 0 120 119 360 359 4/30/2024 1 1/6/1900 6/6/2024 6/6/2024 5/6/2034 NAP 0 0 L(25),D(92),O(3) 2,059,517 1,040,572 1,018,945 3/31/2024 T-12 1,996,969 1,011,196 985,773 12/31/2023 T-12 2,017,466 957,437 1,060,030 12/31/2022 T-12 100.0% 2,053,903 1,146,167 907,737 82,156 0 825,581 1.70 1.55 15.1% 13.8% 8,400,000 As Is 2/21/2024 71.4% 64.1% 73.7% 3/31/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/12/2024 NAP 2/29/2024 NAP NAP No Fee NAP NAP NAP NAP 41,251 8,250 32,819 4,688 0 6,846 0 0 0 0 0 0 0 0 60,000 Springing Seasonality Reserve 60,000 0 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 Ramazan Ceker Ramazan Ceker No No Refinance                           3/31/2035 4/24/1900 3/25/1900 1/0/1900 4/24/1900 3/25/1900 1/0/1900 4/25/1900 3/22/1900 1/0/1900 4/7/1900 3/23/1900 1/0/1900                  
32.00 Loan   1 Vigouroux Marketplace Mobile AL 0.5% 100% MSBNA MSMCH Group 4 NAP 9948 Airport Boulevard Mobile Mobile AL 36608 Retail Anchored 1997 NAP 66,125 SF 83.18 5,500,000 5,500,000 5,500,000 7.23000%   7.23000% NAP 33,597.74 NAP 403,172.88 Interest Only No Actual/360 120 119 120 119 0 0 4/19/2024 1 1/1/1900 6/1/2024 NAP 5/1/2034 NAP 5 5 L(25),D(90),O(5) 781,560 148,791 632,769 12/31/2023 T-12 779,062 174,376 604,685 12/31/2022 T-12 719,660 149,585 570,075 12/31/2021 T-12 94.4% 810,648 208,065 602,582 9,919 31,359 561,304 1.49 1.39 11.0% 10.2% 8,400,000 As Is 2/9/2024 65.5% 65.5% 100.0% 12/31/2023 No WinnDixie 44,000 66.5% 7/14/2032 Walgreens 10,125 15.3% 1/31/2043 Infinity Liquor 2,400 3.6% 9/30/2025 Divine Designs 1,200 1.8% 9/30/2024 3:16 Beauty Supply 1,200 1.8% 5/31/2028 2/27/2024 NAP 2/27/2024 NAP NAP No Fee NAP NAP NAP NAP 40,352 5,044 27,572 2,673 18,430 827 49,604 0 3,582 150,000 0 0 0 47,125 0 0 NAP 0 0 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 Blue Jay Management Marc Jacobowitz and Yerachmeal Jacobson No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
33.00 Loan   1 740 Veterans Memorial Hwy 0.5% 100% BANA BANA NAP NAP 740 Veterans Memorial Highway Southeast Mableton Cobb GA 30126 Industrial Warehouse/Distribution 1996, 2000 NAP 86,900 SF 59.23 5,150,000 5,147,513 4,590,592 7.79500%   7.79500% 37,055.51 NAP 444,666.12 NAP Amortizing Balloon No Actual/360 0 0 120 119 360 359 4/29/2024 1 1/1/1900 6/1/2024 6/1/2024 5/1/2034 NAP 5 4 L(25),D(91),O(4) 608,655 54,143 554,512 12/31/2023 T-12 562,930 67,740 495,190 12/31/2022 T-12 568,412 72,602 495,810 12/31/2021 T-12 95.0% 725,888 132,575 593,314 13,035 30,416 549,863 1.33 1.24 11.5% 10.7% 7,050,000 As Is 4/11/2024 73.0% 65.1% 100.0% 3/29/2024 No MSC Properties 49,100 56.5% 1/31/2039 JMV Quartz 15,000 17.3% 1/31/2034 Kenny's Warehouse Deal 10,000 11.5% 11/15/2025 Flowers and Décor 10,000 11.5% 6/30/2026 Pallets Inc 2,800 3.2% 1/31/2026 2/9/2024 NAP 2/9/2024 NAP NAP No Fee NAP NAP NAP NAP 40,443 4,494 18,635 6,212 75,000 1,086 0 0 2,535 0 0 0 0 24,375 6,250 0 Environmental Reserve 0 0 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 Gursharan S. Pannu Gursharan S. Pannu No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
34.00 Loan   1 97 Greenwich (NYC Equinox) 0.5% 100% JPMCB JPMCB NAP NAP 97-101 Greenwich Avenue New York New York NY 10014 Retail Single Tenant 1920 2018 38,923 SF 128.46 5,000,000 5,000,000 5,000,000 6.95100%   6.95100% NAP 29,364.76 NAP 352,377.12 Interest Only No Actual/360 120 120 120 120 0 0 5/17/2024 0 1/1/1900 7/1/2024 NAP 6/1/2034 NAP 0 0 L(25),YM1(92),O(3) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,433,019 262,808 1,170,210 7,785 38,923 1,123,503 3.32 3.19 23.4% 22.5% 23,300,000 As Is 3/13/2024 21.5% 21.5% 100.0% 6/1/2024 Yes Equinox Greenwich Avenue, Inc 38,923 100.0% 11/30/2035 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/21/2024 NAP 3/21/2024 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 0 0 0 0 0 0 0 0 0 0 NAP 0 0 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 ALMI Greenwich Associates Edmondo Schwartz No No Recapitalization                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
35.00 Loan   1 1130 West C Street 0.4% 100% WFB WFB NAP NAP 1130 West C Street Wilmington Los Angeles CA 90744 Industrial Cold Storage/Warehouse 1967 NAP 36,477 SF 130.22 4,750,000 4,750,000 4,750,000 6.65000%   6.65000% NAP 26,688.51 NAP 320,262.12 Interest Only No Actual/360 120 115 120 115 0 0 12/18/2023 5 1/11/1900 2/11/2024 NAP 1/11/2034 NAP 5 0 L(29),D(87),O(4) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,265,206 237,486 1,027,720 11,858 23,499 992,363 3.21 3.10 21.6% 20.9% 18,300,000 As Is 9/21/2023 26.0% 26.0% 100.0% 6/1/2024 Yes ICPK Corporation 36,477 100.0% 12/18/2038 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 9/28/2023 NAP 9/27/2023 9/27/2023 18% No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 0 0 0 0 0 0 0 0 0 0 0 NAP 0 0 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 ICPK Corporation ICPK Corporation No No Recapitalization                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
36.00 Loan   1 Wesley Park Townhomes 0.4% 100% MSBNA MSMCH NAP NAP 135 Wesley Drive Mechanicsburg Cumberland PA 17055 Multifamily Garden 1968 2014 160 Units 26,250.00 4,200,000 4,200,000 3,241,567 5.81000%   5.81000% 26,574.96 NAP 318,899.52 NAP Amortizing Balloon No Actual/360 0 0 120 120 300 300 5/10/2024 0 1/1/1900 7/1/2024 7/1/2024 6/1/2034 NAP 5 5 L(23),YM1(93),O(4) 2,279,725 943,637 1,336,089 2/29/2024 T-12 2,246,398 924,525 1,321,873 12/31/2023 T-12 2,117,455 872,910 1,244,545 12/31/2022 T-12 94.9% 2,252,374 934,253 1,318,121 40,000 0 1,278,121 4.13 4.01 31.4% 30.4% 22,600,000 As Is 3/20/2024 18.6% 14.3% 97.5% 3/18/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/3/2024 NAP 3/22/2024 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 0 0 0 0 0 0 0 84,125 0 0 NAP 0 0 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 Rhodes Development Group, Inc. Wesley Park, LLC No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
37.00 Loan   1 67th Road Housing Corporation  0.4% 100% NCCB NCB NAP NAP 99-21 67th Road Forest Hills Queens NY 11375 Multifamily Cooperative 1946 2020 79 Units 48,018.28 3,800,000 3,793,444 3,252,791 6.26000%   6.26000% 23,421.97 NAP 281,063.64 NAP Amortizing Balloon No Actual/360 0 0 120 118 360 358 3/20/2024 2 1/1/1900 5/1/2024 5/1/2024 4/1/2034 NAP 10 10 YM1(113),1%(3),O(4) NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 95.0% 1,867,441 816,449 1,050,992 15,700 0 1,035,292 3.74 3.68 27.7% 27.3% 24,800,000 As Is 1/31/2024 15.3% 13.1% 95.0% 1/31/2024 No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/16/2024 NAP 2/20/2024 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 0 0 0 0 0 0 0 0 0 116,904 0 Collateral Security Agreement For Capital Improvements 0 0 NAP None None No No No NAP NAP NAP NAP NAP 0 Greater of (A) 5.50% or (B) Prime Rate 4,093,444 25,576.48 16.5% 3.37 25.7% NAP NAP NAP NAP NAP NAP NAP Yes Unsecured NAP NAP No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP             300,000            17,200,000 22.1% 3.8% 3 0 0 -7,599
38.00 Loan   2 AAA Storage Greensboro and Kernersville 0.3%   MSBNA MSMCH NAP NAP Various Various Various NC Various Self Storage Self Storage 1994 Various 87,600 SF 39.95 3,500,000 3,500,000 3,500,000 6.32000%   6.32000% NAP 18,689.35 NAP 224,272.20 Interest Only No Actual/360 120 120 120 120 0 0 5/14/2024 0 1/1/1900 7/1/2024 NAP 6/1/2034 NAP 5 5 L(24),D(92),O(4) 825,113 327,774 497,339 3/31/2024 T-12 821,835 320,639 501,196 12/31/2023 T-12 778,598 297,413 481,184 12/31/2022 T-12 90.9% 819,691 313,478 506,212 12,683 0 493,529 2.26 2.20 14.5% 14.1% 6,350,000 As Is 4/1/2024 55.1% 55.1% 94.9% 4/30/2024                                                                 14,540 1,454 0 Springing 0 1,057 25,365 0 0 0 0 0 0 30,625 0 0 NAP 0 0 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 AAA Self Storage Cecil S. Little, Mary Caitlyn Fulp Stogner, Ashley Fulp Jones, Bryce A. Rush and Chelsea Rush Hockaday No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
38.01 Property   1 AAA Storage A15 Greensboro 0.2% 66%         3702 Groometown Road Greensboro Guilford NC 27407 Self Storage Self Storage 1994 NAP 56,150 SF   2,300,000 2,300,000 2,300,000                                                     512,139 186,090 326,050 3/31/2024 T-12 508,954 182,055 326,899 12/31/2023 T-12 483,833 170,343 313,490 12/31/2022 T-12 90.2% 510,480 177,433 333,047 7,973 0 325,074         4,025,000 As Is 4/1/2024     93.6% 4/30/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/16/2024 NAP 4/16/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
38.02 Property   1 AAA Storage A2 Kernersville 0.1% 34%         1601 Brookford Industrial Drive Kernersville Forsyth NC 27284 Self Storage Self Storage 1994 2020 31,450 SF   1,200,000 1,200,000 1,200,000                                                     312,974 141,685 171,289 3/31/2024 T-12 312,880 138,583 174,297 12/31/2023 T-12 294,764 127,070 167,694 12/31/2022 T-12 92.0% 309,211 136,046 173,165 4,710 0 168,455         2,325,000 As Is 4/1/2024     97.3% 4/30/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/16/2024 NAP 4/16/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
39.00 Loan   1 321 Apartments Corp.  0.3% 100% NCB NCB NAP NAP 321 East 54th Street a/k/a 319/323 East 54th Street New York New York NY 10022 Multifamily Cooperative 1929 1999 100 Units 31,945.92 3,200,000 3,194,592 2,746,155 6.35000%   6.35000% 19,911.54 NAP 238,938.48 NAP Amortizing Balloon No Actual/360 0 0 120 118 360 358 3/29/2024 2 1 5/1/2024 5/1/2024 4/1/2034 NAP 10 10 YM1(113),1%(3),O(4) NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 95.0% 3,045,700 1,487,666 1,558,034 50,500 0 1,507,534 6.52 6.31 48.8% 47.2% 42,400,000 As Is 2/5/2024 7.5% 6.5% 95.0% 2/5/2024 No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/20/2024 NAP 2/22/2024 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 0 0 0 0 0 0 0 0 0 0 0 NAP 0 0 NAP None None No No No NAP NAP NAP NAP NAP 0 Greater of (A) 5.50% or (B) Prime Rate 3,694,592 23,502.40 8.7% 5.35 42.2% NAP NAP NAP NAP NAP NAP NAP Yes Unsecured NAP NAP No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP             500,000            26,200,000 12.2% 0.0% 0 0 0 NAP
40.00 Loan   1 St. Marks Owners Corp. 0.3% 100% NCCB NCB NAP NAP 87 St. Marks Place a/k/a 87/91 Saint Marks Place New York New York NY 10009 Multifamily Cooperative 1903 1998 25 Units 120,000.00 3,000,000 3,000,000 3,000,000 7.00000%   7.00000% NAP 17,743.06 NAP 212,916.72 Interest Only No Actual/360 120 120 120 120 0 0 5/15/2024 0 1 7/1/2024 NAP 6/1/2034 NAP 10 10 YM1(113),1%(3),O(4) NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 95.0% 829,787 324,373 505,414 3,800 0 501,614 2.37 2.36 16.8% 16.7% 12,700,000 As Is 2/5/2024 23.6% 23.6% 95.0% 2/5/2024 No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/26/2024 NAP 2/27/2024 NAP NAP No Fee NAP NAP NAP NAP 14,500 14,500 0 Springing 0 0 0 0 0 0 0 0 0 0 1,500,000 0 Collateral Security Agreement For Capital Improvements 0 0 NAP None None No No No NAP NAP NAP NAP NAP 0 Greater of (A) 5.50% or (B) Prime Rate 3,100,000 18,461.23 24.4% 2.26 16.3% NAP NAP NAP NAP NAP NAP NAP Yes Unsecured NAP NAP No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP             100,000              7,200,000 41.7% 8.0% 2 0 0 -30,859
41.00 Loan   2 Pool Portfolio 0.3%   WFB WFB NAP NAP Various Various Various Various Various Industrial Warehouse Various NAP 72,572 SF 41.29 3,000,000 2,996,190 2,656,141 7.53300%   7.53300% 21,044.27 NAP 252,531.24 NAP Amortizing Balloon No Actual/360 0 0 120 118 360 358 3/21/2024 2 11 5/11/2024 5/11/2024 4/11/2034 NAP 0 0 L(26),D(90),O(4) 464,943 107,915 357,028 12/31/2023 T-12 448,524 98,402 350,122 12/31/2022 T-12 419,547 63,694 355,853 12/31/2021 T-12 95.0% 546,912 137,620 409,291 3,710 16,407 389,174 1.62 1.54 13.7% 13.0% 5,825,000 As Is Various 51.4% 45.6% 100.0% 6/1/2024                                                                 0 Springing 0 Springing 300,000 Springing 300,000 0 3,024 0 0 0 0 0 0 0 NAP 0 0 NAP Hard In Place Yes Yes No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP C. Dee Adcock, Sandra Adcock, Dee Adcock Trust and SJA Trust C. Dee Adcock, Sandra Adcock, Dee Adcock Trust and SJA Trust No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
41.01 Property   1 3411 Inventors Road 0.1% 50%         3411 Inventors Road Norfolk Norfolk City VA 23502 Industrial Warehouse 1966 NAP 32,694 SF   1,500,000 1,498,095 1,328,071                                                     203,875 52,017 151,858 12/31/2023 T-12 196,854 36,571 160,283 12/31/2022 T-12 173,859 19,047 154,812 12/31/2021 T-12 95.0% 241,454 59,398 182,056 366 7,244 174,446         2,950,000 As Is 1/18/2024     100.0% 6/1/2024 Yes SCP Distributors LLC 32,694 100.0% 1/31/2029 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/22/2024 NAP 1/22/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
41.02 Property   1 1699 South 19th Street 0.1% 50%         1699 South 19th Street Harrisburg Dauphin PA 17104 Industrial Warehouse 1975 NAP 39,878 SF   1,500,000 1,498,095 1,328,071                                                     261,068 55,898 205,170 12/31/2023 T-12 251,670 61,831 189,839 12/31/2022 T-12 245,688 44,647 201,041 12/31/2021 T-12 95.0% 305,458 78,223 227,235 3,344 9,164 214,728         2,875,000 As Is 1/17/2024     100.0% 6/1/2024 Yes SCP Distributors LLC 39,878 100.0% 1/31/2029 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/22/2024 NAP 1/22/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
42.00 Loan   4 Bluejay Family Dollar Portfolio 0.3%   BANA BANA Group 4 NAP Various Various Various Various Various Retail Single Tenant Various Various 34,166 SF 80.34 2,750,000 2,744,843 2,428,244 7.39400%   7.39400% 19,029.19 NAP 228,350.28 NAP Amortizing Balloon No Actual/360 0 0 120 117 360 357 2/29/2024 3 1 4/1/2024 4/1/2024 3/1/2034 NAP 5 4 L(27),D(89),O(4) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 311,144 9,334 301,810 6,833 10,250 284,727 1.32 1.25 11.0% 10.4% 4,630,000 As Is 12/28/2023 59.3% 52.4% 100.0% 6/1/2024                                                                 9,464 1,918 0 Springing 0 569 0 0 0 0 0 0 0 0 88,223 0 T&I Reconciliation Reserve 0 0 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 Bluejay Management Mark Jacobowitz and Yerachmeal Jacobson No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
42.01 Property   1 Family Dollar - Axton, VA 0.1% 28%         3465 A L Philpott Highway Axton Henry VA 24054 Retail Single Tenant 2014 NAP 8,346 SF   772,138 770,690 681,796                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 85,025 2,551 82,474 1,669 2,504 78,302         1,300,000 As Is 12/28/2023     100.0% 6/1/2024 Yes Family Dollar 8,346 100.0% 3/31/2034 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/10/2024 NAP 1/10/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
42.02 Property   1 Family Dollar - Gladys, VA 0.1% 27%         8438 Brookneal Highway Gladys Campbell VA 24554 Retail Single Tenant 2013 NAP 8,320 SF   742,441 741,048 655,573                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 82,938 2,488 80,450 1,664 2,496 76,290         1,250,000 As Is 12/28/2023     100.0% 6/1/2024 Yes Family Dollar 8,320 100.0% 9/30/2033 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/10/2024 NAP 1/10/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
42.03 Property   1 Family Dollar - Patterson, LA 0.1% 25%         604 Catherine Street Patterson St. Mary LA 70392 Retail Single Tenant 2013 2018 9,180 SF   688,985 687,693 608,372                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 77,300 2,319 74,981 1,836 2,754 70,391         1,160,000 As Is 12/28/2023     100.0% 6/1/2024 Yes Family Dollar 9,180 100.0% 6/30/2030 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/10/2024 NAP 1/10/2024 NAP NAP Yes - AE Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
42.04 Property   1 Family Dollar - Prescott, AR 0.1% 20%         1100 West 1st Street North Prescott Nevada AR 71857 Retail Single Tenant 2013 NAP 8,320 SF   546,436 545,412 482,502                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 65,882 1,976 63,905 1,664 2,496 59,745         920,000 As Is 12/28/2023     100.0% 6/1/2024 Yes Family Dollar 8,320 100.0% 6/30/2029 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/10/2024 NAP 1/10/2024 NAP NAP Yes - A Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
43.00 Loan   1 214 West 17 Apartment Corp. a/k/a 214 West 17th Apartment Corp. 0.2% 100% NCCB NCB NAP NAP 214 West 17th Street a/k/a 214/216 West 17th Street New York New York NY 10011 Multifamily Cooperative 1895 2005 12 Units 224,951.53 2,700,000 2,699,418 2,552,585 6.79000%   6.79000% 16,368.41 NAP 196,420.92 NAP Amortizing Balloon No Actual/360 0 0 120 119 480 479 4/30/2024 1 1 6/1/2024 6/1/2024 5/1/2034 NAP 10 10 YM1(113),1%(3),O(4) NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 95.5% 1,650,575 511,172 1,139,403 3,000 0 1,136,403 5.80 5.79 42.2% 42.1% 30,400,000 As Is 2/22/2024 8.9% 8.4% 95.5% 2/22/2024 No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/5/2024 NAP 3/7/2024 NAP NAP No Fee NAP NAP NAP NAP 68,250 22,750 0 Springing 0 0 0 0 0 0 0 0 0 0 1,100,000 0 Collateral Security Agreement For Capital Improvements 0 0 NAP None None No No No NAP NAP NAP NAP NAP 0 Greater of (A) 5.50% or (B) Prime Rate 2,949,418 18,164 0 5 0 NAP NAP NAP NAP NAP NAP NAP Yes Unsecured NAP NAP No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP             250,000            21,600,000 12.5% 0.0% 0 0 0 NAP
44.00 Loan   1 West 23rd Street Owners Corp. 0.2% 100% NCCB NCB NAP NAP 400-410 West 23rd Street New York New York NY 10011 Multifamily Cooperative 1890 2004 61 Units 40,983.61 2,500,000 2,500,000 2,500,000 6.69000%   6.69000% NAP 14,131.08 NAP 169,572.96 Interest Only No Actual/360 120 120 120 120 0 0 5/17/2024 0 1 7/1/2024 NAP 6/1/2034 NAP 10 10 YM1(113),O(7) NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 96.1% 2,981,317 1,470,018 1,511,299 15,250 0 1,496,049 8.91 8.82 60.5% 59.8% 50,250,000 As Is 3/21/2024 5.0% 5.0% 96.1% 3/21/2024 No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/4/2024 NAP 4/5/2024 NAP NAP No Fee NAP NAP NAP NAP 247,784 61,946 0 Springing 0 0 0 0 0 0 0 0 0 0 850,000 0 Collateral Security Agreement For Capital Improvements 0 0 NAP None None No No No NAP NAP NAP NAP NAP 0 Greater of (A) 5.50% or (B) Prime Rate 3,000,000 17,722 0 7 1 NAP NAP NAP NAP NAP NAP NAP Yes Unsecured NAP NAP No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP             500,000            28,500,000 8.8% 3.3% 2 0 0 -34,381
45.00 Loan   1 Greystone Views, Inc. a/k/a Greystone Views Inc. 0.2% 100% NCCB NCB NAP NAP 3425/3475 Greystone Avenue a/k/a 3500/3520 Riverdale Avenue Bronx Bronx NY 10463 Multifamily Cooperative 1957 1999 55 Units 45,454.55 2,500,000 2,500,000 2,500,000 6.44000%   6.44000% NAP 13,603.01 NAP 163,236.12 Interest Only No Actual/360 120 118 120 118 0 0 3/28/2024 2 1 5/1/2024 NAP 4/1/2034 NAP 10 10 YM1(113),1%(3),O(4) NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 95.0% 1,548,975 681,812 867,163 12,200 0 854,963 5.31 5.24 34.7% 34.2% 14,000,000 As Is 1/24/2024 17.9% 17.9% 95.0% 1/24/2024 No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/5/2024 NAP 2/7/2024 NAP NAP No Fee NAP NAP NAP NAP 45,750 15,250 0 Springing 0 0 0 0 0 0 0 0 0 0 $500,000, $85,000 0 Collateral Security Agreement For Capital Improvements, Collateral Security Agreement Re: Maintenance Arrears 0 0 NAP None None No No No NAP NAP NAP NAP NAP 0 Greater of (A) 5.00% or (B) Prime Rate 3,000,000 17,194 0 4 0 NAP NAP NAP NAP NAP NAP NAP Yes Unsecured NAP NAP No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP             500,000            13,700,000 18.2% 0.0% 0 0 0 NAP
46.00 Loan   1 929 Park Avenue Apartments Corp. 0.2% 100% NCCB NCB NAP NAP 929 Park Avenue a/k/a 929/931 Park Avenue New York New York NY 10028 Multifamily Cooperative 1912 2000 38 Units 61,794.32 2,350,000 2,348,184 2,196,185 6.23000%   6.23000% 13,308.76 NAP 159,705.12 NAP Amortizing Balloon No Actual/360 0 0 120 118 480 478 3/28/2024 2 1 5/1/2024 5/1/2024 4/1/2034 NAP 10 10 YM1(113),1%(3),O(4) NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 95.0% 3,424,545 1,694,967 1,729,578 11,900 0 1,717,678 10.83 10.76 73.7% 73.1% 78,600,000 As Is 2/2/2024 3.0% 2.8% 95.0% 2/2/2024 No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/20/2024 NAP 2/20/2024 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 0 0 0 0 0 0 0 0 0 0 0 NAP 0 0 NAP None None No No No NAP NAP NAP NAP NAP 106,000 Greater of (A) 5.00% or (B) Prime Rate 2,848,184 16,900 0 8 1 NAP NAP NAP NAP NAP NAP NAP Yes Unsecured NAP NAP No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP             500,000            28,600,000 8.2% 0.0% 0 0 0 NAP
47.00 Loan   1 Layton Owners Inc. 0.2% 100% NCB NCB NAP NAP 42-02/04 Layton Street Elmhurst Queens NY 11373 Multifamily Cooperative 1926 2018 89 Units 24,657.29 2,200,000 2,194,499 1,884,928 6.27000%   6.27000% 13,574.41 NAP 162,892.92 NAP Amortizing Balloon No Actual/360 0 0 120 117 360 357 2/28/2024 3 1 4/1/2024 4/1/2024 3/1/2034 NAP 10 10 YM1(113),1%(3),O(4) NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 95.0% 2,204,638 780,469 1,424,169 19,500 0 1,404,669 8.74 8.62 64.9% 64.0% 30,700,000 As Is 12/1/2023 7.1% 6.1% 95.0% 12/1/2023 No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 12/15/2023 NAP 12/15/2023 NAP NAP No Fee NAP NAP NAP NAP 22,422 22,422 0 Springing 0 0 0 0 0 0 0 0 0 0 114,375 0 Collateral Security Agreement For Capital Improvements 0 0 NAP None None No No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP Yes Unsecured NAP NAP No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP  NAP             23,400,000 9.4% 22.5% 16 4 0 205,433
48.00 Loan   1 Auman Acres 0.2% 100% MSBNA MSMCH NAP NAP 3910 North Main Street High Point Forsyth NC 27265 Manufactured Housing Manufactured Housing/RV Park 1950 2021-2023 77 Pads 27,922.08 2,150,000 2,150,000 2,150,000 6.47000%   6.47000% NAP 11,753.08 NAP 141,036.96 Interest Only No Actual/360 120 117 120 117 0 0 2/29/2024 3 1 4/1/2024 NAP 3/1/2034 NAP 5 5 L(27),D(88),O(5) 407,595 207,481 200,114 12/31/2023 T-12 381,662 193,371 188,291 12/31/2022 T-12 NAV NAV NAV NAV NAV 80.8% 406,915 186,197 220,718 4,050 0 216,668 1.56 1.54 10.3% 10.1% 4,100,000 As Is 12/22/2023 52.4% 52.4% 84.4% 1/31/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/3/2024 NAP 1/3/2024 NAP NAP No Fee NAP NAP NAP NAP 5,628 804 0 Springing 0 335 0 0 0 0 0 0 0 5,775 0 0 NAP 0 0 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 Evergreen Communities, LLC Evergreen Communities, LLC No No Acquisition                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                  
49.00 Loan   1 320 W. 89th St. Owners Corp.  0.1% 100% NCCB NCB NAP NAP 320 West 89th Street New York New York NY 10024 Multifamily Cooperative 1921 2004 33 Units 48,402.34 1,600,000 1,597,277 1,371,920 6.32000%   6.32000% 9,924.43 NAP 119,093.16 NAP Amortizing Balloon No Actual/360 0 0 120 118 360 358 3/25/2024 2 1 5/1/2024 5/1/2024 4/1/2034 NAP 10 10 YM1(113),1%(3),O(4) NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 96.0% 1,408,875 779,401 629,474 4,950 0 624,524 5.29 5.24 39.4% 39.1% 40,300,000 As Is 1/23/2024 4.0% 3.4% 96.0% 1/23/2024 No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/1/2024 NAP 2/2/2024 NAP NAP No Fee NAP NAP NAP NAP 56,698 28,349 0 Springing 0 0 0 0 0 0 0 0 0 0 0 0 NAP 0 0 NAP None None No No No NAP NAP NAP NAP NAP 0 Greater of (A) 5.50% or (B) Prime Rate 1,897,277 12,079 0 4 0 NAP NAP NAP NAP NAP NAP NAP Yes Unsecured NAP NAP No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP             300,000            11,900,000 13.4% 3.0% 1 0 0 -2,408
50.00 Loan   1 Kamgil House Realty Corp. 0.1% 100% NCB NCB NAP NAP 77-02/77-10 34th Avenue a/k/a 34-01 77th Street a/k/a 34-02 78th Street Jackson Heights Queens NY 11372 Multifamily Cooperative 1950 1999 96 Units 15,613.54 1,500,000 1,498,900 1,291,213 6.45000%   6.45000% 9,431.75 NAP 113,181.00 NAP Amortizing Balloon No Actual/360 0 0 120 119 360 359 4/15/2024 1 1 6/1/2024 6/1/2024 5/1/2034 NAP 10 10 YM1(113),1%(3),O(4) NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 95.0% 2,207,306 884,401 1,322,905 28,800 0 1,294,105 11.69 11.43 88.3% 86.3% 22,400,000 As Is 2/2/2024 6.7% 5.8% 95.0% 2/2/2024 No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/15/2024 NAP 2/21/2024 NAP NAP No Fee NAP NAP NAP NAP 75,750 25,250 0 Springing 0 0 0 0 0 0 0 0 0 0 175,000 0 Collateral Security Agreement For Capital Improvements 0 0 NAP None None No No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP Yes Unsecured NAP NAP No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP  NAP             21,600,000 6.9% 50.0% 47 0 1 438,165
51.00 Loan   1 250 Equities Corp.  0.1% 100% NCCB NCB NAP NAP 250 West 22nd Street New York New York NY 10011 Multifamily Cooperative 1889 2009 23 Units 56,521.74 1,300,000 1,300,000 1,127,013 6.72000%   6.72000% 8,405.87 NAP 100,870.44 NAP Amortizing Balloon No Actual/360 0 0 120 120 360 360 5/17/2024 0 1 7/1/2024 7/1/2024 6/1/2034 NAP 10 10 YM1(113),1%(3),O(4) NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 95.0% 830,883 414,073 416,810 9,600 0 407,210 4.13 4.04 32.1% 31.3% 17,100,000 As Is 3/20/2024 7.6% 6.6% 95.0% 3/20/2024 No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/3/2024 NAP 4/3/2024 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 0 0 0 0 0 0 0 0 0 0 0 NAP 0 0 NAP None None No No No NAP NAP NAP NAP NAP 0 Greater of (A) 5.50% or (B) Prime Rate 1,700,000 11,279 0 3 0 NAP NAP NAP NAP NAP NAP NAP Yes Unsecured NAP NAP No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP             400,000              6,800,000 19.1% 17.4% 4 0 0 -4,264
52.00 Loan   1 368 West 23rd St. Apts., Inc. 0.1% 100% NCCB NCB NAP NAP 368 West 23rd Street a/k/a 208 9th Avenue New York New York NY 10011 Multifamily Cooperative 1899 2001 7 Units 142,857.14 1,000,000 1,000,000 872,035 6.94000%   6.94000% 6,612.78 NAP 79,353.36 NAP Amortizing Balloon No Actual/360 0 0 120 120 360 360 5/8/2024 0 1 7/1/2024 7/1/2024 6/1/2034 NAP 10 10 YM1(113),1%(3),O(4) NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 94.3% 773,737 272,394 501,343 2,900 0 498,443 6.32 6.28 50.1% 49.8% 8,600,000 As Is 3/11/2024 11.6% 10.1% 94.3% 3/11/2024 No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/26/2024 NAP 3/28/2024 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 0 0 0 0 0 0 0 0 0 500,000 0 Collateral Security Agreement For Capital Improvements 0 0 NAP None None No No No NAP NAP NAP NAP NAP 0 Greater of (A) 5.50% or (B) Prime Rate 1,250,000 8,408 0 5 0 NAP NAP NAP NAP NAP NAP NAP Yes Unsecured NAP NAP No No Recapitalization                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP             250,000              7,200,000 13.9% 0.0% 0 0 0 NAP