FWP 1 n4133_x4-a1.htm FWP
    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-258342-04
     

Free Writing Prospectus dated [ ], 2024

The depositor has filed a registration statement (including a prospectus) with the SEC (SEC File No. 333-258342) for the offering to which this free writing prospectus 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 if you request it by calling (800) 408-1016 or by emailing the ABS Syndicate Desk at abs_synd@jpmorgan.com.

The information in this file (the “File”) is an electronic copy of the information set forth in the Annex titled "Certain Characteristics of the Mortgage Loans and Mortgaged Properties" to the prospectus. This File does not contain all information that is required to be included in the prospectus. This File should be reviewed only in conjunction with the entire prospectus. Prospective investors are advised to read carefully, and should rely on, the prospectus relating to the certificates referred to herein in making their investment decision.  

The information in this File may be amended and/or supplemented prior to the time of sale. The information in this File supersedes any contrary information contained in any prior File relating to the certificates and will be superseded by any contrary information contained in any subsequent File prior to the time of sale.  

Methodologies used in deriving certain information contained in this File are more fully described elsewhere in the prospectus. The information in this File should not be viewed as projections, forecasts, predictions or opinions with respect to value. 

Any legends, disclaimers or other notices that may appear at the bottom of, or attached to, the email communication to which this material may have been attached 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 email system.

 

   

 

                                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                                                   
BANK5 Trust 2024-5YR6: Premarketing Annex A-1                                                                                                                                                                                                                                                                                                                                                                                                              
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 Loan   1 Kenwood Towne Centre 7.1% 100.0% WFB WFB Group 1 NAP 7875 Montgomery Road Cincinnati Hamilton OH 45236 Retail Super Regional Mall 1958 1988; 2003; 2009; 2019-2023 1,033,141 SF 251.66 70,000,000 70,000,000 70,000,000 6.27100%     NAP 370,889.00 NAP 4,450,668.00 Interest Only No Actual/360 60 58 60 58 0 0 2/9/2024 2 1 4/1/2024 NAP 3/1/2029 NAP 0 0 L(26),D(27),O(7) 51,156,712 13,470,861 37,685,851 12/31/2023 T-12 50,448,758 13,294,184 37,154,574 12/31/2022 T-12 46,624,468 12,851,993 33,772,475 12/31/2021 T-12 92.8% 50,721,444 12,770,752 37,950,692 206,628 1,604,875 36,139,189 2.30 2.19 14.6% 13.9% 571,200,000 As Is 1/23/2024 45.5% 45.5% 95.2% 12/31/2023 No Macy's 262,829 25.4% 9/10/2028 Dillard's 240,656 23.3% 1/31/2029 Arhaus Furniture 16,925 1.6% 1/31/2032 Forever 21 16,638 1.6% MTM Pottery Barn 15,913 1.5% 1/31/2030 1/17/2024 NAP 1/16/2024 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 516,571 0 129,143 3,099,423 0 0 0 0 3,966,953 0 Existing TI/LC Reserve (Upfront: $3,732,395.48), Gap Rent Reserve (Upfront: $234,557.94) 0 0 NAP Hard Springing Yes Yes Yes Yes 70,000,000 190,000,000 1,006,698.73 1,377,587.73 NAP NAP 260,000,000 1,377,587.73 45.5% 2.19 14.6% NAP NAP NAP NAP NAP NAP NAP No NAP Brookfield Properties Retail Holding LLC and Teachers' Retirement System of the State of Illinois GGP-TRS L.L.C. No No Refinance   260,000,000 0 0 0 260,000,000 211,601,763 0 3,205,539 3,966,953 41,225,745 0 260,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
2 Loan   4 Kleban Retail Portfolio 7.1%   MSBNA MSMCH NAP NAP Various Various Various Various Various Retail Various Various NAP 538,646 SF 129.58 69,800,000 69,800,000 69,800,000 7.09000%     NAP 418,129.47 NAP 5,017,553.64 Interest Only No Actual/360 60 60 60 60 0 0 4/3/2024 0 1 6/1/2024 NAP 5/1/2029 NAP 0 0 L(24),D(29),O(7) 7,962,318 1,182,241 6,780,077 12/31/2023 T-12 8,078,823 1,156,161 6,922,662 12/31/2022 T-12 7,830,380 1,105,164 6,725,216 12/31/2021 T-12 95.9% 7,812,423 974,214 6,838,209 80,797 232,039 6,525,373 1.36 1.30 9.8% 9.3% 106,450,000 As Is Various 65.6% 65.6% 100.0% Various                                                                 199,696 33,283 173,787 14,482 0 4,552 54,619 0 7,586 182,062 0 0 0 87,681 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 Kenneth Kleban, Kleban Properties, LLC Kenneth Kleban No Yes Refinance   69,800,000 1,720,977 0 0 71,520,977 69,716,808 0 1,343,004 461,164 0 0 71,520,977 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
2.01 Property   1 Home Depot - Kenner 3.5% 49.9%         2625 Veterans Memorial Boulevard Kenner Jefferson LA 70062 Retail Single Tenant 2013 NAP 174,522 SF   34,851,415 34,851,415 34,851,415                                                     3,500,000 156,251 3,343,749 12/31/2023 T-12 3,500,000 163,653 3,336,347 12/31/2022 T-12 3,500,000 153,011 3,346,989 12/31/2021 T-12 97.0% 3,395,000 125,442 3,269,558 26,178 0 3,243,380         53,800,000 As Is 3/27/2024     100.0% 5/1/2024 Yes Home Depot 174,522 100.0% 5/31/2032 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 9/29/2023 NAP 9/29/2023 NAP NAP Yes - AE Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
2.02 Property   1 Altamira Shopping Village 2.1% 29.0%         1800-1820 Dunlawton Avenue Port Orange Volusia FL 32127 Retail Anchored 2012; 2013; 2015 NAP 149,480 SF   20,211,230 20,211,230 20,211,230                                                     2,894,692 817,258 2,077,434 12/31/2023 T-12 2,984,366 745,778 2,238,588 12/31/2022 T-12 2,770,505 757,875 2,012,630 12/31/2021 T-12 95.0% 2,955,424 789,715 2,165,709 22,422 164,761 1,978,526         30,200,000 As Is 4/1/2024     100.0% 1/1/2024 No BJ's 86,280 57.7% 10/31/2033 LA Fitness 45,000 30.1% 4/30/2030 Red Bowl 3,400 2.3% 1/31/2025 Aspen Dental 3,200 2.1% 12/31/2027 Moe's Southwest Grill 2,625 1.8% 10/31/2028 9/29/2023 NAP 9/29/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
2.03 Property   1 Walmart - Mobile 1.0% 14.6%         685 Schillinger Road South Mobile Mobile AL 36695 Retail Single Tenant 1997 NAP 200,084 SF   10,170,394 10,170,394 10,170,394                                                     1,091,626 184,931 906,695 12/31/2023 T-12 1,118,457 221,114 897,343 12/31/2022 T-12 1,083,875 170,479 913,396 12/31/2021 T-12 95.0% 1,009,799 45,491 964,308 30,013 46,530 887,765         15,700,000 As Is 3/26/2024     100.0% 5/1/2024 Yes Walmart 200,084 100.0% 7/31/2028 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 9/29/2023 NAP 9/29/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
2.04 Property   1 Walgreens - Garden City 0.5% 6.5%         31415 Ford Road Garden City Wayne MI 48135 Retail Single Tenant 2004 NAP 14,560 SF   4,566,961 4,566,961 4,566,961                                                     476,000 23,800 452,200 12/31/2023 T-12 476,000 25,616 450,384 12/31/2022 T-12 476,000 23,800 452,200 12/31/2021 T-12 95.0% 452,200 13,566 438,634 2,184 20,748 415,702         6,750,000 As Is 3/25/2024     100.0% 5/1/2024 Yes Walgreens 14,560 100.0% 6/30/2029 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 9/29/2023 NAP 9/29/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
3 Loan   1 Western Digital Milpitas Campus 6.4% 100.0% JPMCB JPMCB NAP NAP 901, 951, 1001, 1051, and 1101 Sandisk Drive Milpitas Santa Clara CA 95035 Mixed Use R&D/Office 1991-1995 2012 577,956 SF 218.01 63,000,000 63,000,000 63,000,000 6.84400%     NAP 364,300.42 NAP 4,371,605.04 Interest Only No Actual/360 60 57 60 57 0 0 2/9/2024 3 11 3/11/2024 NAP 2/11/2029 NAP 0 0 L(12),YM1(14),DorYM1(27),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 19,594,476 4,495,012 15,099,464 57,796 809,839 14,231,829 1.73 1.63 12.0% 11.3% 197,000,000 As Is 9/5/2023 64.0% 64.0% 100.0% 5/11/2024 Yes Western Digital Technologies, Inc. 577,956 100.0% 1/1/2039 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 6/26/2023 NAP 6/26/2023 6/21/2023 14% No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 0 0 0 0 0 0 0 0 0 Springing Material Tenant Reserve 0 0 NAP Hard Springing Yes Yes Yes No 63,000,000 63,000,000 364,300.41 728,600.83 NAP NAP 126,000,000 728,600.83 64.0% 1.63 12.0% NAP NAP NAP NAP NAP NAP NAP No NAP Blue Owl Capital, Inc. and Blue Owl Real Estate Capital, LLC Blue Owl Real Estate Fund VI LP, Blue Owl Real Estate Fund VI (A) LP and Blue Owl Real Estate Fund VI (B) LP No No Recapitalization   126,000,000 70,581,281 0 0 196,581,281 0 0 4,131,281 0 0 192,450,000 196,581,281 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
4 Loan   1 Jordan Creek Town Center 6.2% 100.0% MSBNA/JPMCB MSMCH/JPMCB Group 1 NAP 101 Jordan Creek Parkway West Des Moines Dallas IA 50266 Retail Super Regional Mall 2004 NAP 940,038 SF 180.84 61,000,000 61,000,000 61,000,000 7.02000%     NAP 361,806.25 NAP 4,341,675.00 Interest Only No Actual/360 60 57 60 57 0 0 2/1/2024 3 1 3/1/2024 NAP 2/1/2029 NAP 0 0 L(27),D(29),O(4) 38,499,461 14,452,236 24,047,225 12/31/2023 T-12 34,880,800 13,031,356 21,849,444 12/31/2022 T-12 31,769,738 13,191,313 18,578,424 12/31/2021 T-12 98.0% 39,618,452 15,095,846 24,522,606 263,211 940,038 23,319,357 2.03 1.93 14.4% 13.7% 321,000,000 As Is 12/1/2023 53.0% 53.0% 97.1% 12/31/2023 No Von Maur 152,000 16.2% 1/31/2043 Scheels 122,025 13.0% 7/31/2029 Century Theatres 69,914 7.4% 8/31/2029 Barnes & Noble Bookseller 29,969 3.2% 1/31/2025 H&M 22,608 2.4% 1/31/2032 12/1/2023 NAP 12/1/2023 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 470,019 0 Springing 1,880,076 0 0 0 0 5,000,000 Springing General Reserve ($5,000,000); Gap Rent Reserve ($0); Anchor Tenant Reserve (Springing) 0 0 NAP Hard Springing Yes No Yes Yes 61,000,000 109,000,000 646,506.25 1,008,312.50 NAP NAP 170,000,000 1,008,312.50 53.0% 1.93 14.4% NAP NAP NAP NAP NAP NAP NAP No NAP Brookfield Properties Retail Holding LLC BPR Nimbus LLC No No Refinance   170,000,000 8,657,092 0 0 178,657,092 173,058,858 0 598,234 5,000,000 0 0 178,657,092 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
5 Loan   1 Galleria at Tyler 6.1% 100.0% BANA BANA Group 1 NAP 1299 Galleria at Tyler Riverside Riverside CA 92503 Retail Super Regional Mall 1970 1991; 2007 565,913 SF 265.06 60,000,000 60,000,000 60,000,000 7.91900%     NAP 401,449.31 NAP 4,817,391.72 Interest Only No Actual/360 60 56 60 56 0 0 12/13/2023 4 1 2/1/2024 NAP 1/1/2029 NAP 0 0 L(28),D(25),O(7) 35,273,885 11,275,921 23,997,964 11/30/2023 T-12 35,459,583 11,035,894 24,423,689 12/31/2022 T-12 30,204,741 10,695,470 19,509,271 12/31/2021 T-12 87.9% 36,420,340 11,434,747 24,985,593 209,388 1,131,826 23,644,379 2.07 1.96 16.7% 15.8% 300,000,000 As Is 10/12/2023 50.0% 50.0% 90.3% 12/18/2023 No AMC 70,000 12.4% 12/31/2028 Barnes & Noble 25,000 4.4% 1/31/2029 H&M 20,799 3.7% 1/31/2032 Glo Mini Golf 14,961 2.6% 5/31/2028 Old Navy 14,504 2.6% 6/30/2029 10/12/2023 NAP 10/12/2023 10/12/2023 14% No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 0 0 Springing 0 0 0 0 0 9,924,378 0 General Reserve ($5,000,000); Outstanding Landlord Obligations ($4,687,691.09); Gap Rent Reserve ($236,687) 0 0 NAP Hard Springing Yes Yes Yes Yes 60,000,000 90,000,000 602,173.95 1,003,623.26 NAP NAP 150,000,000 1,003,623.26 50.0% 1.96 16.7% NAP NAP NAP NAP NAP NAP NAP No NAP Brookfield Properties Retail Holding LLC and Teachers' Retirement System of the State of Illinois GGP-TRS L.L.C. No No Refinance   150,000,000 13,330,744 0 0 163,330,744 152,794,561 0 611,806 9,924,378 0 0 163,330,744 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
6 Loan   1 Aliz Hotel Times Square 5.1% 100.0% JPMCB JPMCB NAP NAP 310 West 40th Street New York New York NY 10018 Hospitality Full Service 2018 NAP 287 Rooms 173,867.60 49,900,000 49,900,000 49,900,000 6.81700%     NAP 287,410.72 NAP 3,448,928.64 Interest Only No Actual/360 60 59 60 59 0 0 3/12/2024 1 1 5/1/2024 NAP 4/1/2029 NAP 0 0 L(25),D(29),O(6) 23,590,685 12,177,016 11,413,670 12/31/2023 T-12 19,655,300 10,623,121 9,032,179 12/31/2022 T-12 8,875,093 7,110,253 1,764,840 12/31/2021 T-12 81.2% 23,590,685 12,381,306 11,209,379 943,627 0 10,265,752 3.25 2.98 22.5% 20.6% 143,000,000 As Is 12/11/2023 34.9% 34.9% 81.2% 12/31/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 12/18/2023 NAP 12/18/2023 NAP NAP No Fee NAP NAP NAP NAP 439,256 109,814 0 Springing 0 4% of the sum of (a) operating income plus (b) gross rents for the calendar month two months prior 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 Helm Management, Inc. Abraham Noy No No Refinance   49,900,000 0 0 0 49,900,000 44,546,160 0 1,492,528 439,256 3,422,056 0 49,900,000 NAP 241.23 195.81 81.2% 241.23 195.81 81.2% 224.83 160.05 71.2% 139.04 67.42 48.5%                
7 Loan   1 Bethesda Marriott 4.0% 100.0% MSBNA MSMCH NAP NAP 5151 Pooks Hill Road Bethesda Montgomery MD 20814 Hospitality Full Service 1979 2015 407 Rooms 97,788.70 39,800,000 39,800,000 39,800,000 7.47200%     NAP 251,263.30 NAP 3,015,159.60 Interest Only No Actual/360 60 57 60 57 0 0 1/24/2024 3 1 3/1/2024 NAP 2/1/2029 NAP 0 5 L(27),D(26),O(7) 22,089,012 16,329,630 5,759,382 12/31/2023 T-12 18,059,841 14,263,818 3,796,024 12/31/2022 T-12 7,664,551 9,151,041 (1,486,490) 12/31/2021 T-12 55.6% 22,089,012 16,456,040 5,632,972 1,104,451 0 4,528,521 1.87 1.50 14.2% 11.4% 78,000,000 As Is 12/1/2023 51.0% 51.0% 55.6% 12/31/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 12/7/2023 NAP 12/7/2023 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 0 0 0 0 0 0 0 0 0 Springing Future PIP Reserve (Springing); Common Charge Reserve (Springing) 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 Yes Mezzanine John J. Mullen John J. Mullen No No Recapitalization   39,800,000 0 0 0 39,800,000 0 0 3,117,199 0 36,682,801 0 39,800,000 NAP 163.98 91.16 55.6% 163.98 91.16 55.6% 146.73 71.51 48.7% 112.87 34.30 30.4%                
8 Loan   1 The Vista 3.9% 100.0% WFB WFB NAP NAP 900 West Monte Vista Avenue Turlock Stanislaus CA 95382 Multifamily Student Housing 2017 NAP 670 Beds 57,462.69 38,500,000 38,500,000 38,500,000 6.57900%     NAP 214,007.86 NAP 2,568,094.32 Interest Only No Actual/360 60 59 60 59 0 0 4/1/2024 1 11 5/11/2024 NAP 4/11/2029 NAP 0 0 L(24),YM1(32),O(4) 6,041,221 2,456,746 3,584,474 12/31/2023 T-12 5,734,245 2,392,949 3,341,296 12/31/2022 T-12 4,873,291 2,245,209 2,628,082 12/31/2021 T-12 86.6% 6,144,545 2,504,654 3,639,891 92,369 0 3,547,522 1.42 1.38 9.5% 9.2% 59,500,000 As Is 1/31/2024 64.7% 64.7% 88.1% 3/20/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/30/2024 NAP 1/29/2024 1/30/2024 6% No Fee NAP NAP NAP NAP 42,281 42,281 0 Springing 0 7,697 0 0 0 0 291,500 41,700 500,000 0 0 0 NAP 0 0 NAP Soft Springing Yes No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Percival Vaz and Luxmi Vaz AMCAL Multi-Housing Inc. No No Refinance   38,500,000 2,731,046 0 0 41,231,046 38,831,704 0 2,065,561 333,781 0 0 41,231,046 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
9 Loan   1 Respara 3.7% 100.0% WFB WFB NAP NAP 11610 Dunstan Way Los Angeles Los Angeles CA 90049 Multifamily Mid Rise 2022 NAP 54 Units 1,138,888.89 36,500,000 36,500,000 36,500,000 6.30000%     NAP 194,286.46 NAP 2,331,437.52 Interest Only No Actual/360 60 57 60 57 0 0 2/6/2024 3 11 3/11/2024 NAP 2/11/2029 NAP 0 0 L(26),DorYM1(27),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 94.9% 6,722,232 1,803,306 4,918,926 13,500 0 4,905,426 1.25 1.25 8.0% 8.0% 93,000,000 As Is 1/5/2024 66.1% 66.1% 96.3% 2/1/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/10/2024 NAP 1/11/2024 1/11/2024 9% No Fee NAP NAP NAP NAP 55,544 55,544 0 Springing 0 1,125 40,500 0 0 0 0 0 0 0 0 0 NAP 0 0 NAP Springing Springing No No Yes Yes 36,500,000 25,000,000 133,072.92 327,359.38 NAP NAP 61,500,000 327,359.38 66.1% 1.25 8.0% NAP NAP NAP NAP NAP NAP NAP No NAP Christopher M. Liebes and Hugh H. Evans, III Christopher M. Liebes and Hugh H. Evans, III No No Refinance   61,500,000 0 0 0 61,500,000 54,463,006 0 1,174,578 55,544 5,806,872 0 61,500,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
10 Loan   1 Highland Village 3.6% 100.0% BANA BANA NAP NAP 4500 Interstate 55 North Jackson Hinds MS 39211 Mixed Use Retail/Office 1983 2019 214,977 SF 162.81 35,000,000 35,000,000 35,000,000 6.79500%     NAP 200,940.10 NAP 2,411,281.20 Interest Only No Actual/360 60 59 60 59 0 0 4/1/2024 1 1 5/1/2024 NAP 4/1/2029 NAP 5 5 L(25),DorYM1(31),O(4) 5,882,028 2,721,619 3,160,409 12/31/2023 T-12 5,826,104 2,682,908 3,143,196 12/31/2022 T-12 4,726,913 2,399,942 2,326,971 12/31/2021 T-12 89.0% 6,675,758 2,774,569 3,901,189 32,247 137,645 3,731,297 1.62 1.55 11.1% 10.7% 56,300,000 As Is 3/8/2024 62.2% 62.2% 88.8% 3/23/2024 No Whole Foods Market 30,050 14.0% 2/28/2034 Maison Weiss 11,710 5.4% 7/31/2026 Buffalo Peak Outfitters 11,000 5.1% 10,085 SF (4/30/2028); 915 SF (MTM) Char 9,407 4.4% 9,317 SF (4/30/2027); 90 SF (MTM) Sur La Table 5,752 2.7% 3/31/2031 3/6/2024 NAP 2/22/2024 NAP NAP No Fee NAP NAP NAP NAP 112,725 37,575 0 Springing 0 2,687 100,000 500,000 Springing 500,000 0 0 0 0 2,004,140 0 Outstanding Landlord Obligations 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 WS Development SDM Holdings LLC No No Refinance   35,000,000 0 0 0 35,000,000 29,235,798 0 1,072,293 2,616,865 2,075,044 0 35,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
11 Loan   1 Hampton Inn & Suites National Harbor 3.5% 100.0% JPMCB JPMCB NAP NAP 250 Waterfront Street Oxon Hill Prince George's MD 20745 Hospitality Limited Service 2008 2018-2019 154 Rooms 222,727.27 34,300,000 34,300,000 34,300,000 7.83100%     NAP 226,944.92 NAP 2,723,339.04 Interest Only No Actual/360 60 59 60 59 0 0 3/8/2024 1 1 5/1/2024 NAP 4/1/2029 NAP 0 0 L(25),YM1(30),O(5) 10,128,161 5,554,298 4,573,863 1/31/2024 T-12 10,040,638 5,491,293 4,549,345 12/31/2023 T-12 7,857,258 4,725,581 3,131,676 12/31/2022 T-12 78.9% 10,128,161 5,424,375 4,703,785 405,126 0 4,298,659 1.73 1.58 13.7% 12.5% 49,000,000 As If PIP Escrowed 12/19/2023 70.0% 70.0% 78.9% 1/31/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/7/2024 NAP 3/7/2024 NAP NAP No Fee NAP NAP NAP NAP 10,000 45,299 0 Springing 0 Springing 0 0 0 0 0 0 0 0 1,800,000 0 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 SAK Developers Waheed Ashiq No No Acquisition   34,300,000 15,614,710 0 0 49,914,710 0 47,000,000 1,104,710 1,810,000 0 0 49,914,710 3/31/2039 224.78 177.34 78.9% 224.78 177.34 78.9% 222.57 175.72 79.0% 217.31 137.32 63.2%                
12 Loan   2 Victory Louisiana Real Estate Portfolio 3.5%   MSBNA MSMCH NAP NAP Various Metairie Jefferson LA Various Retail Anchored Various Various 291,589 SF 116.60 34,000,000 34,000,000 34,000,000 7.19500%     NAP 206,689.70 NAP 2,480,276.40 Interest Only No Actual/360 60 58 60 58 0 0 2/16/2024 2 1 4/1/2024 NAP 3/1/2029 NAP 0 5 L(23),YM1(33),O(4) 6,237,884 1,883,683 4,354,201 12/31/2023 T-12 5,318,742 1,488,321 3,830,421 12/31/2022 T-12 5,431,362 1,279,634 4,151,728 12/31/2021 T-12 95.0% 6,377,851 2,127,840 4,250,011 43,738 281,677 3,924,595 1.71 1.58 12.5% 11.5% 63,800,000 As Is 12/18/2023 53.3% 53.3% 100.0% 1/23/2024                                                                 285,938 71,485 0 Springing 0 3,645 0 200,000 24,299 1,000,000 0 0 0 21,250 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 Victory Real Estate Investments, LLC Victory Real Estate Investments, LLC No No Refinance   34,000,000 0 0 0 34,000,000 31,681,915 0 637,678 507,188 1,173,219 0 34,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
12.01 Property   1 Westgate Shopping Center 2.2% 64.7%         8835-8855 Veterans Memorial Boulevard Metairie Jefferson LA 70003 Retail Anchored 1986 2013 208,580 SF   22,000,000 22,000,000 22,000,000                                                     4,170,366 1,286,006 2,884,359 12/31/2023 T-12 3,457,097 1,001,294 2,455,803 12/31/2022 T-12 3,612,837 872,180 2,740,657 12/31/2021 T-12 95.0% 4,295,205 1,456,634 2,838,571 31,287 195,448 2,611,836         44,400,000 As Is 12/18/2023     100.0% 1/23/2024 No Academy Sports 77,386 37.1% 1/31/2028 Marshalls 29,070 13.9% 5/31/2028 Michaels 27,200 13.0% 10/31/2032 Aldi 26,821 12.9% 9/30/2032 Scandinavia Furniture 10,300 4.9% 10/31/2028 12/28/2023 NAP 12/28/2023 NAP NAP Yes - AE Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
12.02 Property   1 Airline Shopping Center 1.2% 35.3%         2701 Airline Drive Metairie Jefferson LA 70001 Retail Anchored 2001 NAP 83,009 SF   12,000,000 12,000,000 12,000,000                                                     2,067,518 597,676 1,469,842 12/31/2023 T-12 1,861,645 487,027 1,374,618 12/31/2022 T-12 1,818,525 407,454 1,411,071 12/31/2021 T-12 95.0% 2,082,646 671,206 1,411,440 12,451 86,229 1,312,760         19,400,000 As Is 12/18/2023     100.0% 1/23/2024 No Rouses Market 52,655 63.4% 11/30/2025 Goodyear 5,899 7.1% 5/31/2024 McAlisters Deli 3,840 4.6% 5/31/2028 Friends Hair Salon 1,465 1.8% 7/31/2024 Unagi and Sushi Japanese Restaurant 1,456 1.8% 11/30/2031 12/28/2023 NAP 12/28/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
13 Loan   1 Wilshire Colonnade 3.4% 100.0% WFB WFB NAP NAP 3701 and 3731 Wilshire Boulevard Los Angeles Los Angeles CA 90010 Office CBD 1968 NAP 369,454 SF 90.67 33,500,000 33,500,000 33,500,000 7.36800%     NAP 208,546.81 NAP 2,502,561.72 Interest Only No Actual/360 60 59 60 59 0 0 4/3/2024 1 11 5/11/2024 NAP 4/11/2029 NAP 0 0 L(24),D(32),O(4) 9,852,041 5,445,040 4,407,001 12/31/2023 T-12 10,292,792 5,276,584 5,016,208 12/31/2022 T-12 10,562,855 5,161,150 5,401,705 12/31/2021 T-12 78.4% 9,669,775 5,434,202 4,235,573 73,891 404,181 3,757,501 1.69 1.50 12.6% 11.2% 61,000,000 As Is 11/16/2023 54.9% 54.9% 78.2% 3/18/2024 No PCB Bank 53,032 14.4% 9/30/2033 Bank of Hope 36,920 10.0% 4/30/2027 The Korea Times Los Angeles 11,646 3.2% 6/30/2027 Shawn Matian 11,635 3.1% 4/30/2025 HUB Insurance Services Inc 8,275 2.2% 6/30/2031 12/11/2023 NAP 11/30/2023 1/17/2024 19% No Fee NAP NAP NAP NAP 38,923 38,923 0 Springing 0 6,158 0 1,500,000 46,182 2,500,000 0 0 0 0 910,690 0 Rent Concession Reserve ($573,665); Existing TI/LC Reserve ($337,025) 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 Tai Sing Lam Tai Sing Lam No No Refinance Yes 33,500,000 19,289,266 0 0 52,789,266 49,410,501 0 929,153 2,449,613 0 0 52,789,266 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
14 Loan   1 Drexel Terraces 3.1% 100.0% MSBNA MSMCH NAP NAP 4830 South Drexel Boulevard Chicago Cook IL 60615 Multifamily Garden 1902 2023 116 Units 267,241.38 31,000,000 31,000,000 31,000,000 6.20000%     NAP 162,391.20 NAP 1,948,694.40 Interest Only No Actual/360 60 58 60 58 0 0 2/29/2024 2 1 4/1/2024 NAP 3/1/2029 NAP 5 5 L(26),D(29),O(5) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 3,214,629 673,075 2,541,554 29,000 0 2,512,554 1.30 1.29 8.2% 8.1% 50,200,000 As Is 1/30/2024 61.8% 61.8% 100.0% 1/24/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/8/2024 NAP 2/8/2024 NAP NAP No Fee NAP NAP NAP NAP 7,812 7,812 86,912 10,864 0 1,933 0 0 0 0 0 0 0 0 12,500 0 Kenwood Dispute 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 Raphael Lowenstein and John Lowenstein Raphael Lowenstein and John Lowenstein No No Refinance   31,000,000 0 0 0 31,000,000 21,282,633 0 2,010,276 107,224 7,599,867 0 31,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
15 Loan   1 Staten Island Mall 3.0% 100.0% WFB WFB Group 1 NAP 2655 Richmond Avenue Staten Island Richmond NY 10314 Retail Super Regional Mall 1972 1993; 2018 995,900 SF 200.82 30,000,000 30,000,000 30,000,000 7.53400%     NAP 190,965.97 NAP 2,291,591.64 Interest Only No Actual/360 60 57 60 57 0 0 1/18/2024 3 1 3/1/2024 NAP 2/1/2029 NAP 0 0 L(27),D(26),O(7) 62,702,116 26,119,900 36,582,216 10/31/2023 T-12 64,758,020 31,478,198 33,279,822 12/31/2022 T-12 56,053,376 32,087,459 23,965,918 12/31/2021 T-12 87.5% 63,861,272 30,795,311 33,065,961 199,180 995,900 31,870,881 2.16 2.09 16.5% 15.9% 467,000,000 As Is 8/22/2023 42.8% 42.8% 87.3% 11/30/2023 No Primark 73,647 7.4% 6/30/2027 AMC Theatres 54,000 5.4% 2/28/2034 Hobby Lobby 42,768 4.3% 5/31/2033 Dave & Buster's 41,241 4.1% 1/31/2033 Lidl 37,403 3.8% 1/31/2039 9/5/2023 NAP 9/5/2023 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 497,950 4,580,787 Springing 1,991,800 0 0 0 0 403,197 Springing Gap Rent Reserve (Upfront: 403,197), Anchor Tenant Reserve Funds (Monthly: Springing) 0 0 NAP Hard Springing Yes No Yes No 30,000,000 170,000,000 1,082,140.51 1,273,106.48 NAP NAP 200,000,000 1,273,106.48 42.8% 2.09 16.5% NAP NAP NAP NAP NAP NAP NAP No NAP BPR Nimbus LLC  BPR Nimbus LLC  No No Refinance   200,000,000 11,179,744 0 0 211,179,744 204,429,707 0 1,766,053 4,983,984 0 0 211,179,744 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
16 Loan   1 Casa Cipriani 3.0% 100.0% JPMCB JPMCB NAP NAP 10 South Street New York New York NY 10004 Mixed Use Hospitality/Event Space 1909 2021 146,486 SF 702.19 30,000,000 29,959,334 28,550,463 7.27000%     205,060.00 NAP 2,460,720.00 NAP Amortizing Balloon No Actual/360 0 0 60 58 360 358 2/23/2024 2 6 4/6/2024 4/6/2024 3/6/2029 NAP 0 0 L(26),D(27),O(7) 76,670,902 53,018,686 23,652,216 12/31/2023 T-12 62,610,528 46,051,002 16,559,526 12/31/2022 T-12 19,895,595 19,620,191 275,404 12/31/2021 T-12 65.0% 76,670,902 54,048,705 22,622,197 2,526,674 0 20,095,523 2.68 2.38 22.0% 19.5% 206,000,000 As Is 8/10/2023 49.9% 47.6% 65.0% 12/31/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/24/2023 NAP 8/23/2023 NAP NAP Yes - VE Leasehold 6/30/2061 5, 10-year extension options 2,087,004 Yes 437,500 87,500 356,769 178,384 0 210,556 0 0 0 0 0 0 0 0 352,047 246,509 Ground Rent Reserve (Upfront: $352,047; Monthly: $176,023.50), PIP Reserve (Monthly: Springing), Put Price Reserve (Monthly: $70,485.24) 0 0 NAP Hard Springing Yes No Yes No 29,959,334 72,901,046 498,979.35 704,039.35 NAP NAP 102,860,379 704,039.35 49.9% 2.38 22.0% NAP NAP NAP NAP NAP NAP NAP No NAP Joseph Cayre, Giuseppe Cipriani, Henry Hay and Harlan Berger Joseph Cayre, Giuseppe Cipriani, Henry Hay and Harlan Berger No No Refinance                           NAP 1,365.46 887.57 65.0% 1,365.46 887.57 65.0% 1,379.90 796.65 57.7% 1,684.05 483.95 28.7%                
17 Loan   1 Canyon Park West 2.4% 100.0% WFB WFB NAP NAP 1939 Fillmore Street Twin Falls Twin Falls ID 83301 Retail Anchored 2000-2022 NAP 152,327 SF 157.90 24,053,000 24,053,000 24,053,000 6.42600%     NAP 130,592.76 NAP 1,567,113.12 Interest Only No Actual/360 60 59 60 59 0 0 3/28/2024 1 11 5/11/2024 NAP 4/11/2029 NAP 0 0 L(24),D(32),O(4) 2,705,178 693,352 2,011,826 12/31/2023 T-12 2,645,174 709,356 1,935,818 12/31/2022 T-12 2,686,299 748,101 1,938,198 12/31/2021 T-12 95.0% 2,946,367 723,152 2,223,216 30,465 114,245 2,078,506 1.42 1.33 9.2% 8.6% 35,900,000 Market Value Hypothetical With Reserve 2/13/2024 67.0% 67.0% 100.0% 3/18/2024 No Dick's Sporting Goods, Inc. 34,840 22.9% 1/31/2026 Ross Dress for Less 24,994 16.4% 1/31/2026 Natural Grocers 20,000 13.1% 12/31/2033 Ashley Furniture 18,000 11.8% 3/31/2038 Old Navy, LLC 12,520 8.2% 5/31/2032 2/20/2024 NAP 2/22/2024 NAP NAP No Fee NAP NAP NAP NAP 87,564 21,891 0 Springing 0 2,539 91,396 100,000 25,388 342,735 0 0 0 0 195,487 0 Rent Concession Reserve ($106,072); Existing TI/LC Reserve ($68,215); Ross Reserve ($11,200); Petco Reserve ($10,000) 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 Patrick Wood and Joel Farkas Patrick Wood and Joel Farkas No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
18 Loan   1 11755 Wilshire 1.9% 100.0% WFB WFB NAP NAP 11755 Wilshire Boulevard Los Angeles Los Angeles CA 90025 Office CBD 1986 2023-2024 337,440 SF 207.44 18,500,000 18,500,000 18,500,000 7.02400%     NAP 109,790.65 NAP 1,317,487.80 Interest Only No Actual/360 60 57 60 57 0 0 1/17/2024 3 11 3/11/2024 NAP 2/11/2029 NAP 0 0 L(26),D(27),O(7) 13,546,661 5,680,514 7,866,147 10/31/2023 T-12 14,918,322 7,223,595 7,694,727 12/31/2022 T-12 14,215,892 6,714,245 7,501,648 12/31/2021 T-12 62.4% 15,346,002 5,452,684 9,893,318 67,488 843,600 8,982,230 1.98 1.80 14.1% 12.8% 164,000,000 As Is 12/1/2023 42.7% 42.7% 62.9% 1/9/2024 No Kinetic Content, LLC 52,405 15.5% 4/30/2026 Oak View Group, LLC 18,890 5.6% 5/31/2027 Semler Brossy Consulting Group LLC 18,890 5.6% 4/30/2031 Intrepid Investment Bankers, LLC 18,461 5.5% 6/30/2026 IBISWorld, Inc 17,960 5.3% 5/31/2032 12/8/2023 NAP 12/8/2023 12/8/2023 17% No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 5,624 67,488 3,000,000 70,300 0 0 0 0 0 1,108,135 0 Rent Concession Reserve ($777,560); Existing TI/LC Reserve ($330,575) 0 0 NAP Hard In Place Yes No Yes No 18,500,000 51,500,000 305,633.42 415,424.07 NAP NAP 70,000,000 415,424.07 42.7% 1.80 14.1% NAP NAP NAP NAP NAP NAP NAP No NAP California State Teachers’ Retirement System NAP No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
19 Loan   1 Delray Corner 1.9% 100.0% MSBNA MSMCH NAP NAP 4970 West Atlantic Avenue and 14802 South Military Trail Delray Beach Palm Beach FL 33484 Retail Anchored 1981 2006 85,916 SF 215.33 18,500,000 18,500,000 18,500,000 7.19400%     NAP 112,447.88 NAP 1,349,374.56 Interest Only No Actual/360 60 57 60 57 0 0 1/23/2024 3 1 3/1/2024 NAP 2/1/2029 NAP 0 5 L(27),D(28),O(5) 1,876,013 831,107 1,044,906 9/30/2023 T-12 1,913,860 758,503 1,155,357 12/31/2022 T-12 1,918,143 701,447 1,216,696 12/31/2021 T-12 95.5% 2,872,588 914,256 1,958,332 35,722 101,602 1,821,007 1.45 1.35 10.6% 9.8% 27,400,000 As Is 11/29/2023 67.5% 67.5% 97.7% 10/31/2023 No Michaels 25,645 29.8% 2/28/2034 CVS Pharmacy 13,013 15.1% 1/31/2044 Conviva Care Center 10,000 11.6% 2/28/2031 Hacienda Mexican Restaurant & Bar 6,050 7.0% 10/31/2026 Taso's Greek Taverna 3,200 3.7% 5/31/2027 12/11/2023 NAP 12/11/2023 NAP NAP No Fee NAP NAP NAP NAP 135,867 33,967 0 Springing 80,000 2,977 0 0 6,075 0 0 0 0 0 2,256,655 0 Outstanding Leasing Fund Reserve ($1,287,577); Free Rent Reserve ($235,766); Gap Rent Reserve ($133,312); Environmental Reserve ($600,000) 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 Sylvia Kanoff and Michael Kanoff Sylvia Kanoff and Michael Kanoff No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
20 Loan   1 1575 Jersey Ave 1.7% 100.0% MSBNA MSMCH NAP NAP 1575 Jersey Avenue North Brunswick Middlesex NJ 08902 Industrial Warehouse 1970 2017 129,129 SF 131.65 17,000,000 17,000,000 17,000,000 6.80000%     NAP 97,671.30 NAP 1,172,055.60 Interest Only No Actual/360 60 59 60 59 0 0 3/8/2024 1 1 5/1/2024 NAP 4/1/2029 NAP 5 5 L(25),D(28),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 92.2% 2,153,952 422,523 1,731,429 12,913 83,460 1,635,056 1.48 1.40 10.2% 9.6% 29,100,000 As Is 2/1/2024 58.4% 58.4% 92.9% 1/1/2024 No ONUS Global Logistics LLC 120,000 92.9% 12/31/2028 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/16/2024 NAP 2/16/2024 NAP NAP No Fee NAP NAP NAP NAP 56,653 18,884 18,250 2,607 0 1,076 12,913 0 5,380 0 0 0 0 84,039 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 Victor Guindi, Henry Guindi and Fred Guindi Victor Guindi, Henry Guindi and Fred Guindi No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
21 Loan   1 Terrell Plaza 1.7% 100.0% MSBNA MSMCH NAP NAP 1201 Austin Highway San Antonio Bexar TX 78209 Retail Anchored 1965 2012 107,884 SF 153.87 16,600,000 16,600,000 16,600,000 6.95000%     NAP 97,476.97 NAP 1,169,723.64 Interest Only No Actual/360 60 57 60 57 0 0 1/31/2024 3 1 3/1/2024 NAP 2/1/2029 NAP 0 5 L(27),D(26),O(7) 2,836,969 846,183 1,990,787 11/30/2023 T-3 Annualized 2,761,348 1,067,370 1,693,978 12/31/2022 T-12 2,769,846 1,010,319 1,759,527 12/31/2021 T-12 94.7% 3,140,456 1,075,692 2,064,764 16,183 167,513 1,881,068 1.77 1.61 12.4% 11.3% 26,800,000 As Is 12/15/2023 61.9% 61.9% 95.8% 12/15/2023 No Ross Dress for Less 27,908 25.9% 1/31/2029 Five Below 10,045 9.3% 1/31/2030 Dollar Tree 10,025 9.3% 8/31/2028 Petco Animal Supplies 9,837 9.1% 1/31/2028 PopShelf 9,500 8.8% 12/31/2032 1/5/2024 NAP 1/5/2024 NAP NAP No Fee NAP NAP NAP NAP 84,320 42,160 0 Springing 0 1,273 0 0 9,757 370,000 0 0 0 10,000 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 Property Commerce Dividend Fund, LP Property Commerce Dividend Fund, LP, Stanley Jay Williams, Jr. and Kevin Robins No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
22 Loan   1 Sherman Oaks First Plaza 1.4% 100.0% WFB WFB NAP NAP 14423-14457 Ventura Boulevard Sherman Oaks Los Angeles CA 91423 Retail Unanchored 1979 2019; 2022 62,483 SF 224.06 14,000,000 14,000,000 13,671,577 7.86900%     101,451.42 93,080.07 1,217,417.04 1,116,960.84 Interest Only, Amortizing Balloon No Actual/360 24 21 60 57 360 360 2/8/2024 3 11 3/11/2024 3/11/2026 2/11/2029 NAP 0 0 L(26),D(27),O(7) 2,234,200 652,840 1,581,360 12/31/2023 T-12 2,229,277 641,527 1,587,750 12/31/2022 T-12 2,222,428 543,192 1,679,236 12/31/2021 T-12 86.4% 2,415,953 645,126 1,770,827 12,771 6,242 1,751,814 1.45 1.44 12.6% 12.5% 30,000,000 As Is 9/26/2023 46.7% 45.6% 82.6% 4/1/2024 No El Torito 8,860 14.2% 8/31/2029 Gyu-Kaku Japanese BBQ 3,813 6.1% 5/31/2034 Wireless Consulting Group 2,800 4.5% 10/31/2025 Ava Music Center 2,520 4.0% 3/31/2025 Salon Centric, Inc 2,040 3.3% 7/31/2026 10/18/2023 NAP 10/10/2023 10/11/2023 13% No Fee NAP NAP NAP NAP 18,267 18,267 0 Springing 100,000 Springing 0 200,000 Springing 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 Govind Vaghashia Govind Vaghashia No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
23 Loan   1 Tahoma Vista 1.1% 100.0% MSBNA MSMCH NAP NAP 1410-1418 East 72nd Street Tacoma Pierce WA 98404 Retail Anchored 1968 NAP 107,293 SF 102.99 11,050,000 11,050,000 11,050,000 7.45000%     NAP 69,554.89 NAP 834,658.68 Interest Only No Actual/360 60 59 60 59 0 0 4/1/2024 1 1 5/1/2024 NAP 4/1/2029 NAP 0 5 L(23),YM1(33),O(4) 1,311,964 315,555 996,409 12/31/2023 T-12 1,168,883 449,384 719,499 12/31/2022 T-12 1,131,481 360,298 771,184 12/31/2021 T-12 95.0% 1,689,277 474,078 1,215,199 16,034 96,204 1,102,961 1.46 1.32 11.0% 10.0% 17,590,000 As Is Assuming Extraordinary Assumption 2/22/2024 62.8% 62.8% 100.0% 3/20/2024 No Big Lots 42,096 39.2% 1/31/2029 Urban Air Trampoline & Adventure Park 42,088 39.2% 4/30/2032 Grocery Outlet 22,709 21.2% 5/31/2029 BigFoot Java 400 0.4% 1/31/2032 NAP NAP NAP NAP 3/5/2024 NAP 3/5/2024 3/5/2024 17% No Fee NAP NAP NAP NAP 10,787 10,787 0 Springing 0 1,336 32,068 0 8,017 192,407 0 0 0 92,500 1,866,492 0 Urban Air TI Allowance ($1,052,200), Urban Air Outstanding Leasing Commission ($63,132), Urban Air One-Year Rent Holdback ($751,160) 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 Rhino Investments Group Sanjiv Chopra No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
24 Loan   1 Greenbox II Self Storage 1.1% 100.0% WFB WFB NAP NAP 2424 Delgany Street Denver Denver CO 80216 Self Storage Self Storage 1979 2013 100,551 SF 109.40 11,000,000 11,000,000 11,000,000 7.06900%     NAP 65,699.16 NAP 788,389.92 Interest Only No Actual/360 60 58 60 58 0 0 2/28/2024 2 11 4/11/2024 NAP 3/11/2029 NAP 0 0 L(25),D(31),O(4) 1,770,121 614,091 1,156,029 12/31/2023 T-12 1,792,617 564,687 1,227,930 12/31/2022 T-12 1,698,957 598,781 1,100,175 12/31/2021 T-12 84.3% 1,770,120 702,617 1,067,503 21,981 0 1,045,522 1.35 1.33 9.7% 9.5% 20,100,000 As Is 1/11/2024 54.7% 54.7% 79.1% 12/31/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/18/2024 NAP 2/9/2024 NAP NAP No Fee NAP NAP NAP NAP 314,149 28,559 0 Springing 0 Springing 0 0 0 0 0 0 0 0 0 0 NAP 0 0 NAP Soft Springing Yes No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Bahman Shafa Bahman Shafa No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
25 Loan   1 Ponder Place 1.0% 100.0% MSBNA MSMCH NAP NAP 201 Lake Forest Road Greenwood Greenwood SC 29649 Multifamily Garden 2022 NAP 82 Units 124,298.78 10,192,500 10,192,500 10,192,500 5.98500%     NAP 51,541.14 NAP 618,493.68 Interest Only No Actual/360 60 58 60 58 0 0 2/29/2024 2 1 4/1/2024 NAP 3/1/2029 NAP 5 5 L(26),D(30),O(4) 1,269,791 415,375 854,416 12/31/2023 T-3 Annualized NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 94.9% 1,235,136 420,844 814,292 20,500 0 793,792 1.32 1.28 8.0% 7.8% 15,100,000 As Is 12/8/2023 67.5% 67.5% 97.6% 2/13/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 12/8/2023 NAP 12/8/2023 NAP NAP No Fee NAP NAP NAP NAP 29,685 9,895 7,120 3,560 0 1,708 20,500 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 Mark Vakili Mark Vakili and The Vakili Family Trust Dated August 2, 1999 No No Acquisition                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
26 Loan   2 Oklahoma Texas Hotel Portfolio 1.0%   MSBNA MSMCH NAP NAP Various Various Various Various Various Hospitality Limited Service Various Various 143 Rooms 69,930.07 10,000,000 10,000,000 9,725,184 7.16500%     67,642.05 60,537.62 811,704.60 726,451.44 Interest Only, Amortizing Balloon No Actual/360 24 23 60 59 360 360 3/20/2024 1 1 5/1/2024 5/1/2026 4/1/2029 NAP 0 0 L(25),D(28),O(7) 4,220,761 2,281,997 1,938,765 12/31/2023 T-12 4,102,379 2,393,384 1,708,995 12/31/2022 T-12 3,371,165 2,118,531 1,252,634 12/31/2021 T-12 73.5% 4,220,761 2,395,351 1,825,410 168,830 0 1,656,580 2.25 2.04 18.3% 16.6% 16,200,000 As Is Various 61.7% 60.0% 73.5% 12/31/2023                                                                 35,362 17,681 26,310 13,155 0 14,069 0 0 0 0 0 0 0 27,000 484,125 0 PIP Reserve - Hampton Inn ($259,625); Additional Flood Insurance Reserve: ($200,000); PIP Reserve - La Quinta ($24,500) 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 Rohit B. Chaudhary Rohit B. Chaudhary and Naresh Chaudhary No No Refinance/Acquisition                           Various 110.05 80.87 73.5% 110.05 80.87 73.5% 103.90 78.60 75.6% 88.38 64.59 73.1%                
26.01 Property   1 La Quinta Inn Brownwood 0.6% 58.4%         103 Market Place Boulevard Brownwood Brown TX 76801 Hospitality Limited Service 2008 2021-2022 71 Rooms   5,838,500 5,838,500 5,678,049                                                     2,653,157 1,269,445 1,383,713 12/31/2023 T-12 2,469,688 1,495,651 974,037 12/31/2022 T-12 1,966,099 1,063,308 902,791 12/31/2021 T-12 82.1% 2,653,157 1,297,838 1,355,319 106,126 0 1,249,193         9,400,000 As Is 1/18/2024     82.1% 12/31/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/31/2024 NAP 1/31/2024 NAP NAP Yes - AE Fee NAP NAP NAP NAP                                                                                                                                 5/20/2041 124.69 102.38 82.1% 124.69 102.38 82.1% 113.75 95.30 83.8% 93.48 75.87 81.2%                
26.02 Property   1 Hampton Inn Oklahoma City NE 0.4% 41.6%         11820 North I-35 Service Road Oklahoma City Oklahoma OK 73131 Hospitality Limited Service 2016 NAP 72 Rooms   4,161,500 4,161,500 4,047,135                                                     1,567,604 1,012,552 555,052 12/31/2023 T-12 1,632,691 897,733 734,958 12/31/2022 T-12 1,405,066 1,055,223 349,843 12/31/2021 T-12 65.0% 1,567,604 1,097,513 470,091 62,704 0 407,387         6,800,000 As Is 1/17/2024     65.0% 12/31/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/31/2024 NAP 1/31/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 3/31/2039 91.80 59.65 65.0% 91.80 59.65 65.0% 91.86 62.13 67.6% 82.10 53.47 65.1%                
27 Loan   1 Gateway Square Shopping Center 1.0% 100.0% MSBNA MSMCH NAP NAP 4801-4889 Hopyard Road Pleasanton Alameda CA 94588 Retail Unanchored 1989; 2004 NAP 87,328 SF 111.65 9,750,000 9,750,000 9,750,000 6.67500%     NAP 54,987.63 NAP 659,851.56 Interest Only No Actual/360 60 58 60 58 0 0 2/27/2024 2 1 4/1/2024 NAP 3/1/2029 NAP 5 5 L(26),YM1(27),O(7) 2,767,139 902,475 1,864,664 12/31/2023 T-12 2,533,144 778,190 1,754,953 12/31/2022 T-12 2,393,197 774,495 1,618,702 12/31/2021 T-12 89.2% 2,974,986 907,985 2,067,001 17,466 174,656 1,874,879 3.13 2.84 21.2% 19.2% 32,300,000 As Is 1/11/2024 30.2% 30.2% 89.9% 1/30/2024 No Chasing Chances 10,230 11.7% 11/30/2026 Global Village Montessori Pre-School 6,825 7.8% 1/31/2027 Chili's Grill & Bar 6,000 6.9% 6/11/2026 The SSAM / SSAM Korean BBQ 4,774 5.5% 4/30/2035 Beacon Veterinary Specialist 4,000 4.6% 7/31/2032 1/17/2024 NAP 1/17/2024 1/18/2024 15% No Fee NAP NAP NAP NAP 14,300 14,300 0 Springing 0 1,455 52,397 0 Springing 261,984 0 0 0 24,180 92,645 0 Mylapore South Indian Vegetarian Outstanding TI Reserve: ($64,925); Arbat Grocery Store Outstanding TI Reserve: ($17,720); SSAM Gap Rent Reserve: ($10,000) 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 FHS Associates Mark F. Simens and Richard Alexander Freemon and Philip Gregory Freemon, each as Co-Trustee of Richard D. Freemon 1980 Inter-Vivos Trust u/t/a Dated July 30, 2010, as amended, al known as the Richard D. Freemon Trust, As Amended No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
28 Loan   1 Elm Street Plaza 1.0% 100.0% MSBNA MSMCH Group 2 NAP 1030-1040 Elm Street Rocky Hill Hartford CT 06067 Retail Anchored 1998; 2009 2020 60,947 SF 155.87 9,500,000 9,500,000 9,500,000 7.14000%     NAP 57,310.07 NAP 687,720.84 Interest Only No Actual/360 60 58 60 58 0 0 2/15/2024 2 1 4/1/2024 NAP 3/1/2029 NAP 5 5 L(26),D(30),O(4) 1,524,657 533,783 990,874 10/31/2023 T-12 1,566,168 579,864 986,304 12/31/2022 T-12 1,488,926 556,027 932,899 12/31/2021 T-12 95.0% 1,565,824 595,059 970,765 9,142 62,623 899,000 1.41 1.31 10.2% 9.5% 15,800,000 As Is 9/5/2023 60.1% 60.1% 100.0% 11/1/2023 No Big Y 56,936 93.4% 4/30/2033 Wells Fargo 4,011 6.6% 12/31/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 10/6/2023 NAP 10/6/2023 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 762 18,284 0 5,079 121,894 0 0 0 4,375 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 Allan Bernheimer and Jeffrey R. Miller Allan Bernheimer and Jeffrey R. Miller No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
29 Loan   1 927-933 Flatbush Avenue 0.9% 100.0% MSBNA MSMCH NAP NAP 927-933 Flatbush Avenue Brooklyn Kings NY 11226 Retail Unanchored 1920 2014; 2019 45,100 SF 201.77 9,100,000 9,100,000 9,100,000 7.36500%     NAP 56,626.96 NAP 679,523.52 Interest Only No Actual/360 60 58 60 58 0 0 2/29/2024 2 1 4/1/2024 NAP 3/1/2029 NAP 5 5 L(26),D(29),O(5) 1,282,101 195,496 1,086,605 12/31/2023 T-12 1,075,551 343,780 731,771 12/31/2022 T-12 1,066,990 332,343 734,647 12/31/2021 T-12 95.0% 1,318,129 348,535 969,594 6,765 57,728 905,101 1.43 1.33 10.7% 9.9% 14,300,000 As Is 1/5/2024 63.6% 63.6% 100.0% 1/1/2024 No CAMBA 13,700 30.4% 6,100 SF (MTM); 7,600 SF (8/31/2027) Beginning Steps Infant Day Care 11,800 26.2% 4/30/2028 Capital One Bank 6,200 13.7% 9/30/2029 Melissa Vaughn Dance Studio 6,100 13.5% 8/1/2028 Fit4Dance Inc. 4,500 10.0% 11/30/2028 1/11/2024 NAP 1/9/2024 NAP NAP No Fee NAP NAP NAP NAP 60,189 20,063 2,754 918 0 564 0 0 3,758 135,000 0 0 0 23,438 150,000 0 SBA Loan Escrow 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 Ezra Ashkenazi Ezra Ashkenazi No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
30 Loan   1 Northville Shopping Center Phase II 0.9% 100.0% MSBNA MSMCH NAP NAP 17101-17955 Haggerty Road and 6 Mile Road Northville Wayne MI 48167 Retail Shadow Anchored 2003 NAP 43,169 SF 201.53 8,700,000 8,700,000 8,700,000 6.72000%     NAP 49,396.67 NAP 592,760.04 Interest Only No Actual/360 60 59 60 59 0 0 3/8/2024 1 1 5/1/2024 NAP 4/1/2029 NAP 5 5 L(25),D(28),O(7) 1,428,584 534,405 894,179 12/31/2023 T-12 1,225,939 517,100 708,839 12/31/2022 T-12 1,031,708 454,933 576,775 12/31/2021 T-12 95.0% 1,516,426 581,955 934,471 9,929 55,505 869,037 1.58 1.47 10.7% 10.0% 13,100,000 As Is 2/7/2024 66.4% 66.4% 96.1% 2/23/2024 No KSI Kitchen and Bath 11,941 27.7% 3/31/2028 P.F. Chang's China Bistro 7,634 17.7% 8/31/2028 Massage Envy 4,007 9.3% 8/31/2029 Noorjahan Indian Cuisine 3,017 7.0% 6/30/2027 Noodles & Company 2,400 5.6% 11/30/2033 2/13/2024 NAP 2/13/2024 NAP NAP No Fee NAP NAP NAP NAP 64,101 21,367 0 Springing 0 827 0 200,000 Springing 200,000 0 0 0 46,875 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 Grand Sakwa Properties LLC Daniel L. Stern, Christopher G. Brochert and Stephen Grand Trust Under Agreement Dated September 15, 1988 No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
31 Loan   1 US Storage Centers - La Crescenta, CA 0.8% 100.0% BANA BANA NAP NAP 4454 Lowell Avenue and 3900-3934 Foothill Boulevard La Crescenta Los Angeles CA 91214 Self Storage Self Storage 1960 1988 68,605 SF 120.98 8,300,000 8,300,000 8,300,000 6.50000%     NAP 45,582.75 NAP 546,993.00 Interest Only No Actual/360 60 57 60 57 0 0 1/12/2024 3 1 3/1/2024 NAP 2/1/2029 NAP 5 4 L(27),D(26),O(7) 2,309,692 588,957 1,720,735 11/30/2023 T-12 2,220,461 555,965 1,664,496 12/31/2022 T-12 2,054,716 517,031 1,537,685 12/31/2021 T-12 86.9% 2,276,737 527,564 1,749,173 21,206 0 1,727,967 3.20 3.16 21.1% 20.8% 28,850,000 As Is 11/14/2023 28.8% 28.8% 89.3% 11/30/2023; 1/1/2024 No Venice Bakery 4,316 6.3% 3,516 SF (10/31/2027); 800 SF (11/30/2028) Modella Uniforms 2,640 3.8% 3/31/2027 Regal Wine & Spirits 2,420 3.5% 1,620 SF (2/28/2028); 800 SF (7/31/2028) CV Dental 1,620 2.4% 1/31/2029 Mr. Dryclean 1,600 2.3% 3/31/2027 11/28/2023 NAP 11/22/2023 11/22/2023 11% No Fee NAP NAP NAP NAP 75,148 15,030 0 Springing 0 855 30,783 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 Westport Properties, Inc. Laulhere Realty Limited Partnership No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
32 Loan   2 Swifts MHC and Gulf to Bay MHC 0.8%   MSBNA MSMCH NAP NAP Various Various Various FL Various Manufactured Housing Manufactured Housing Various NAP 156 Pads 52,884.62 8,250,000 8,250,000 8,250,000 6.41500%     NAP 44,715.67 NAP 536,588.04 Interest Only No Actual/360 60 59 60 59 0 0 3/19/2024 1 1 5/1/2024 NAP 4/1/2029 NAP 5 5 L(23),YM1(30),O(7) 1,101,313 483,864 617,449 2/29/2024 T-12 1,087,057 508,237 578,820 12/31/2023 T-12 885,785 550,008 335,777 12/31/2022 T-12 92.2% 1,250,155 537,921 712,234 9,856 0 702,378 1.33 1.31 8.6% 8.5% 14,000,000 As Is 1/5/2024 58.9% 58.9% 92.3% 2/1/2024                                                                 50,190 8,365 13,876 6,938 0 813 0 0 0 0 0 0 0 14,433 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 Bedrock Communities Bedrock MHC Partners III L.P. No No Acquisition                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
32.01 Property   1 Swifts MHC 0.5% 53.8%         1846 Powell Drive North Fort Myers Lee FL 33917 Manufactured Housing Manufactured Housing 1949 NAP 87 Pads   4,441,000 4,441,000 4,441,000                                                     616,904 283,368 333,536 2/29/2024 T-12 602,034 291,206 310,829 12/31/2023 T-12 462,996 259,011 203,986 12/31/2022 T-12 94.1% 678,577 296,968 381,609 4,750 0 376,859         7,100,000 As Is 1/5/2024     94.3% 2/1/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/17/2024 NAP 1/16/2024 NAP NAP Yes - AE Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
32.02 Property   1 Gulf to Bay MHC 0.4% 46.2%         2381 Gulf to Bay Boulevard Clearwater Pinellas FL 33765 Manufactured Housing Manufactured Housing 1955 NAP 69 Pads   3,809,000 3,809,000 3,809,000                                                     484,409 200,496 283,913 2/29/2024 T-12 485,022 217,031 267,991 12/31/2023 T-12 422,788 290,997 131,791 12/31/2022 T-12 90.0% 571,578 240,953 330,625 5,106 0 325,519         6,900,000 As Is 1/5/2024     89.9% 2/1/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/17/2024 NAP 1/16/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
33 Loan   1 Compass Point Medical Complex 0.7% 100.0% MSBNA MSMCH Group 2 NAP 1111 Cromwell Avenue Rocky Hill Hartford CT 06067 Office Medical 2003 2010 65,063 SF 113.12 7,360,000 7,360,000 7,360,000 7.51000%     NAP 46,701.07 NAP 560,412.84 Interest Only No Actual/360 60 59 60 59 0 0 3/13/2024 1 1 5/1/2024 NAP 4/1/2029 NAP 0 0 L(25),D(31),O(4) 1,079,329 604,154 475,175 10/31/2023 T-12 1,110,739 597,728 513,011 12/31/2022 T-12 1,191,778 633,483 558,295 12/31/2021 T-12 95.0% 1,490,108 597,330 892,778 13,013 71,627 808,139 1.59 1.44 12.1% 11.0% 10,900,000 As Is 11/14/2023 67.5% 67.5% 96.0% 11/1/2023 No Elara Caring 11,508 17.7% 9/30/2030 Rocky Hill Surgery Center 10,528 16.2% 3/31/2029 Hartford Orthopedic Surgeons 10,528 16.2% 4,964 SF (11/14/2031); 5,564 SF (4/15/2032) Starling Physicians 7,980 12.3% 7/31/2029 Maxim Healthcare Staffing Services 5,885 9.0% 12/31/2026 10/6/2023 NAP 10/6/2023 NAP NAP No Fee NAP NAP NAP NAP 82,848 20,712 0 2,702 0 1,084 26,025 140,536 Springing 140,536 0 0 0 2,500 91,557 0 Local Infusion - TI Allowance Reserve ($56,160); Local Infusion - Free and Gap Rent Reserve ($19,890); Local Infusion - Landlord Work ($15,506.60) 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 Allan Bernheimer and Jeffrey R. Miller Allan Bernheimer and Jeffrey R. Miller No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
34 Loan   1 Superior Building 0.7% 100.0% BANA BANA NAP NAP 61 North Raymond Avenue Pasadena Los Angeles CA 91103 Mixed Use Office/Retail 1928 2013 45,902 SF 152.50 7,000,000 7,000,000 7,000,000 6.79300%     NAP 40,176.19 NAP 482,114.28 Interest Only No Actual/360 60 59 60 59 0 0 4/1/2024 1 1 5/1/2024 NAP 4/1/2029 NAP 5 4 L(25),DorYM1(28),O(7) 1,400,166 515,765 884,401 12/31/2023 T-12 1,540,452 517,832 1,022,620 12/31/2022 T-12 1,445,513 474,765 970,748 12/31/2021 T-12 92.3% 1,563,882 514,241 1,049,641 10,926 61,942 976,773 2.18 2.03 15.0% 14.0% 16,200,000 As Is 2/29/2024 43.2% 43.2% 90.4% 2/29/2024 No Pez Cantina 6,624 14.4% 3/31/2033 Vincenzi / Babban / Hernandez 5,765 12.6% 12/31/2030 Street Level Strategy, LLC 4,584 10.0% 3/31/2028 Eliza Steel 4,257 9.3% 8/31/2028 Bone Kettle, LLC 3,703 8.1% 2/28/2026 3/25/2024 NAP 3/25/2024 3/27/2024 18% No Fee NAP NAP NAP NAP 23,852 11,926 0 Springing 0 1,311 0 0 3,600 0 0 0 0 0 113,804 0 Pez Cantina TI Allowance ($95,454), Gap Rent Reserve ($18,350) 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 Gregory C. McLemore Gregory C. McLemore No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
35 Loan   1 872 East 164th Street 0.6% 100.0% MSBNA MSMCH Group 4 NAP 872 East 164th Street Bronx Bronx NY 10459 Multifamily Mid Rise 2023 NAP 18 Units 335,000.00 6,030,000 6,030,000 6,030,000 6.76000%     NAP 34,440.79 NAP 413,289.48 Interest Only No Actual/360 60 58 60 58 0 0 2/15/2024 2 1 4/1/2024 NAP 3/1/2029 NAP 0 5 L(26),D(30),O(4) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 692,938 119,504 573,433 4,500 0 568,933 1.39 1.38 9.5% 9.4% 9,800,000 As Stabilized 1/1/2024 61.5% 61.5% 88.9% 2/2/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 12/5/2023 NAP 12/5/2023 NAP NAP No Fee NAP NAP NAP NAP 862 862 3,738 1,246 0 375 0 0 0 0 0 0 0 0 114,451 0 Unabated Real Estate Tax Reserve 0 400,000 Occupancy Holdback: Holdback Funds shall mean that portion of the Loan to be disbursed in a single advance on or prior to the Outside Advance Date, upon Borrower’s satisfaction of the Holdback Funding Requirements, in the amount of $400,000.
“Holdback Funding Requirements” shall mean, collectively:
(i) Borrower shall submit a written request to Lender for disbursement of the Holdback Funds no later than ten (10) days prior to the date on which Borrower requests the Holdback Funds to be disbursed;
(ii) both at the time of Borrower’s written request and at the time of the requested disbursement of Holdback Funds, no Default or Event of Default shall be continuing;
(iii) Borrower has submitted to Lender evidence to Lender’s satisfaction confirming that at least ninety-five percent (95%) of the residential apartments at the Property (including both Affordable Housing Units and any Market Rate Units) are tenanted pursuant to executed Leases with Tenants that are in occupancy and pursuant to which the term of each Lease covered by any Prepaid Rents has expired, which evidence shall include, without limitation, a current rent roll certified by an authorized representative of Borrower, copies of all executed Leases then in-effect, and copies of all rental payment vouchers issued in connection with the CityFHEPS Program with respect to Tenants at the Property.
(iv) after giving effect to the disbursement of the Holdback Funds, the Debt Yield shall be at least 9.44%, as determined by Lender; and
(v) Borrower shall pay on demand (or out of the requested disbursement of Holdback Funds) all of the actual costs and expenses incurred by Lender, including attorneys’ fees and expenses and other applicable third-party costs and expenses, in connection with the proposed advance of Holdback Funds.		 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 Joseph E. Safdie and Leah Waldman Joseph E. Safdie and Leah Waldman No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
36 Loan   1 Walnut Grove MHC 0.6% 100.0% MSBNA MSMCH Group 3 NAP 2548 Peck Road Monrovia Los Angeles CA 90601 Manufactured Housing Manufactured Housing 1954 NAP 52 Pads 107,019.23 5,565,000 5,565,000 5,565,000 6.21000%     NAP 29,198.86 NAP 350,386.32 Interest Only No Actual/360 60 60 60 60 0 0 4/3/2024 0 1 6/1/2024 NAP 5/1/2029 NAP 5 5 L(24),D(31),O(5) 699,110 208,856 490,254 1/31/2024 T-12 692,152 203,341 488,811 11/30/2023 T-12 630,916 182,083 448,833 12/31/2022 T-12 95.0% 686,917 228,578 458,339 2,800 0 455,539 1.31 1.30 8.2% 8.2% 8,400,000 As Is 2/16/2024 66.3% 66.3% 94.2% 3/31/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/19/2024 NAP 2/19/2024 2/19/2024 14% No Fee NAP NAP NAP NAP 8,132 4,066 1,932 644 0 233 0 0 0 0 0 0 0 21,860 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 Victor M. Martinez Victor M. Martinez No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
37 Loan   1 Park Place Apartments 0.5% 100.0% WFB WFB NAP NAP 515 Parkside Place Dalton Whitfield GA 30721 Multifamily Garden 2000 NAP 86 Units 61,046.51 5,250,000 5,250,000 5,250,000 7.71400%     NAP 34,217.48 NAP 410,609.76 Interest Only No Actual/360 60 59 60 59 0 0 4/3/2024 1 11 5/11/2024 NAP 4/11/2029 NAP 0 0 L(24),D(29),O(7) 897,045 305,104 591,941 2/29/2024 T-12 868,940 302,760 566,180 12/31/2023 T-12 829,367 288,367 541,000 12/31/2022 T-12 95.0% 902,509 327,167 575,342 21,500 0 553,842 1.40 1.35 11.0% 10.5% 9,040,000 As Is 11/28/2023 58.1% 58.1% 100.0% 3/12/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 10/25/2023 NAP 10/25/2023 NAP NAP No Fee NAP NAP NAP NAP 21,836 5,459 0 Springing 0 1,792 0 0 0 0 205,305 0 0 0 97,500 0 Roof Replacement Reserve 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 Gary L. Felder Gary L. Felder No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
38 Loan   2 City Trailer Park and Stage Coach MHC 0.5%   MSBNA MSMCH Group 3 NAP Various Various Various CA Various Manufactured Housing Manufactured Housing Various NAP 44 Pads 113,636.36 5,000,000 5,000,000 5,000,000 6.22000%     NAP 26,276.62 NAP 315,319.44 Interest Only No Actual/360 60 60 60 60 0 0 4/3/2024 0 1 6/1/2024 NAP 5/1/2029 NAP 5 5 L(24),D(31),O(5) 594,173 138,773 455,400 1/31/2024 T-12 584,372 136,279 448,093 11/30/2023 T-12 552,664 131,698 420,967 12/31/2022 T-12 95.2% 582,769 169,174 413,595 3,200 0 410,395 1.31 1.30 8.3% 8.2% 7,400,000 As Is 2/16/2024 67.6% 67.6% 95.5% 3/31/2024                                                                 11,300 2,825 2,406 1,203 0 267 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 Victor M. Martinez Victor M. Martinez No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
38.01 Property   1 Stage Coach MHC 0.3% 57.3%         6050 Mission Boulevard Riverside Riverside CA 92509 Manufactured Housing Manufactured Housing 1965 NAP 30 Pads   2,863,000 2,863,000 2,863,000                                                     332,292 79,090 253,202 1/31/2024 T-12 325,455 78,539 246,916 11/30/2023 T-12 307,875 83,639 224,235 12/31/2022 T-12 96.4% 331,472 94,167 237,305 1,900 0 235,405         4,400,000 As Is 2/16/2024     96.7% 3/31/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/19/2024 NAP 2/19/2024 2/19/2024 15% No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
38.02 Property   1 City Trailer Park 0.2% 42.7%         313 West 1st Avenue La Habra Orange CA 90631 Manufactured Housing Manufactured Housing 1975 NAP 14 Pads   2,137,000 2,137,000 2,137,000                                                     261,881 59,683 202,198 1/31/2024 T-12 258,917 57,740 201,177 11/30/2023 T-12 244,790 48,058 196,732 12/31/2022 T-12 93.7% 251,296 75,006 176,290 1,300 0 174,990         3,000,000 As Is 2/16/2024     92.9% 3/31/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/19/2024 NAP 2/19/2024 2/19/2024 14% No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
39 Loan   1 CityLine Milledgeville 0.5% 100.0% BANA BANA Group 5 NAP 155 and 157 Garrett Way & 630 Meriwether Road Milledgeville Baldwin GA 31061 Self Storage Self Storage 2000; 2006 NAP 80,330 SF 56.55 4,543,000 4,543,000 4,543,000 6.85900%     NAP 26,327.68 NAP 315,932.16 Interest Only No Actual/360 60 57 60 57 0 0 1/23/2024 3 1 3/1/2024 NAP 2/1/2029 NAP 5 4 L(27),D(26),O(7) 669,412 379,325 290,087 11/30/2023 T-12 620,041 376,002 244,039 12/31/2022 T-12 572,193 335,368 236,825 12/31/2021 T-12 78.4% 667,605 218,078 449,527 11,330 0 438,197 1.42 1.39 9.9% 9.6% 6,780,000 As Is 11/27/2023 67.0% 67.0% 85.2% 12/31/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 11/16/2023 NAP 11/16/2023 NAP NAP No Fee NAP NAP NAP NAP 9,671 2,418 0 Springing 0 945 0 0 0 0 0 0 0 52,125 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 Robert Fortunoff, Scott Fortunoff, Gregory Fortunoff and Jill Gerstenblatt Richard Schontz, Lawrence Charles Kaplan, George Thacker and Peter J. Veltri No No Acquisition                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
40 Loan   1 1412 College Ave 0.4% 100.0% MSBNA MSMCH Group 4 NAP 1412 College Avenue Bronx Bronx NY 10456 Multifamily Mid Rise 1930 2023 16 Units 257,812.50 4,125,000 4,125,000 4,125,000 6.53000%     NAP 22,758.64 NAP 273,103.68 Interest Only No Actual/360 60 55 60 55 0 0 11/7/2023 5 1 1/1/2024 NAP 12/1/2028 NAP 5 5 L(29),D(27),O(4) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 503,846 82,187 421,658 4,000 0 417,658 1.54 1.53 10.2% 10.1% 6,650,000 As Is 3/15/2024 62.0% 62.0% 100.0% 11/1/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 9/18/2023 NAP 9/18/2023 NAP NAP No Fee NAP NAP NAP NAP 1,031 344 4,533 907 0 333 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 Joseph E. Safdie Joseph E. Safdie No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
41 Loan   1 Lexington Grand 0.4% 100.0% WFB WFB NAP NAP 186 Roy Truesdell Road Lugoff Kershaw SC 29078 Multifamily Garden 2009 2023 64 Units 63,671.88 4,075,000 4,075,000 4,075,000 6.96900%     NAP 23,994.25 NAP 287,931.00 Interest Only No Actual/360 60 59 60 59 0 0 3/28/2024 1 11 5/11/2024 NAP 4/11/2029 NAP 0 0 L(24),D(29),O(7) 535,144 241,274 293,870 2/29/2024 T-12 517,827 255,366 262,461 12/31/2023 T-12 NAV NAV NAV NAV NAV 95.0% 600,736 217,460 383,276 16,000 0 367,276 1.33 1.28 9.4% 9.0% 6,575,000 As Is 1/18/2024 62.0% 62.0% 96.9% 2/29/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/31/2023 NAP 2/15/2024 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 23,984 2,998 60,000 1,334 0 0 0 0 0 0 0 0 25,000 Springing Insurance Deductible Reserve 25,000 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 Michael Garland and Henry Loyd Fornes, III Michael Garland and Henry Loyd Fornes, III No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
42 Loan   1 4975 Clark Howell Highway 0.3% 100.0% BANA BANA Group 5 NAP 4975 Clark Howell Highway Atlanta Clayton GA 30349 Industrial Flex 1975 2022 38,724 SF 85.61 3,315,000 3,315,000 3,315,000 6.86600%     NAP 19,230.76 NAP 230,769.12 Interest Only No Actual/360 60 58 60 58 0 0 2/20/2024 2 1 4/1/2024 NAP 3/1/2029 NAP 5 4 L(26),D(30),O(4) 395,164 234,611 160,553 12/31/2023 T-12 NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 90.2% 515,152 101,762 413,390 5,809 18,752 388,830 1.79 1.68 12.5% 11.7% 5,100,000 As Is 2/1/2024 65.0% 65.0% 90.1% 2/8/2024 No Middour Investments, LLC 3,810 9.8% 2/28/2025 Delivery King Logistics LLC 3,090 8.0% 10/31/2027 Maximum Maintenance, LLC 2,606 6.7% 7/31/2025 House of Hoggs 2,592 6.7% 2/28/2026 2 Friends Transport LLC 2,426 6.3% 2/28/2027 1/24/2024 NAP 1/24/2024 NAP NAP No Fee NAP NAP NAP NAP 7,555 1,511 6,602 3,301 75,000 484 0 50,000 1,614 77,448 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 Jill Pierce Lawrence Charles Kaplan and George Thacker No No Acquisition                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
43 Loan   1 Taylors Square 0.3% 100.0% MSBNA MSMCH Group 6 NAP 3023 Wade Hampton Boulevard Taylors Greenville SC 29687 Retail Shadow Anchored 2002 NAP 28,982 SF 112.14 3,250,000 3,250,000 3,250,000 6.90000%     NAP 18,947.05 NAP 227,364.60 Interest Only No Actual/360 60 58 60 58 0 0 2/2/2024 2 5 4/5/2024 NAP 3/5/2029 NAP 0 0 L(26),D(30),O(4) 490,780 92,621 398,158 12/31/2023 T-12 509,001 86,576 422,424 12/31/2022 T-12 516,603 81,297 435,307 12/31/2021 T-12 95.0% 502,255 89,085 413,169 5,055 25,837 382,277 1.82 1.68 12.7% 11.8% 5,600,000 As Is 12/22/2023 58.0% 58.0% 100.0% 10/1/2023 No Ginza Buffet (formerly Hibachi Grille & Supreme Buffet) 10,290 35.5% 5/31/2034 Dollar Tree 9,499 32.8% 1/31/2026 Gamestop, Inc. 1,807 6.2% 12/31/2025 Firehouse Subs 1,758 6.1% 8/31/2024 Happy Nails 1,407 4.9% 12/31/2035 1/4/2024 NAP 1/4/2024 NAP NAP No Fee NAP NAP NAP NAP 7,892 3,946 0 Springing 0 411 4,297 0 3,623 86,946 0 0 0 875 62,500 0 TPO Roof System Replacement 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 Francis Greenburger Francis Greenburger No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
44 Loan   2 East Coast Storage Portfolio 0.3%   MSBNA MSMCH NAP NAP Various Various Various Various Various Self Storage Self Storage Various Various 39,530 SF 71.84 2,840,000 2,840,000 2,840,000 7.35000%     NAP 17,636.60 NAP 211,639.20 Interest Only No Actual/360 60 60 60 60 0 0 4/4/2024 0 1 6/1/2024 NAP 5/1/2029 NAP 0 5 L(24),D(32),O(4) 394,958 60,101 334,857 1/31/2024 T-3 Annualized 240,896 45,710 195,186 12/31/2023 T-12 171,957 36,352 135,605 12/31/2022 T-12 91.2% 396,833 114,769 282,064 5,930 0 276,134 1.33 1.30 9.9% 9.7% 4,370,000 As Is Various 65.0% 65.0% 99.5% 3/11/2024                                                                 5,811 968 3,296 1,232 0 494 11,859 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 Randall Caldwell Randall Caldwell No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
44.01 Property   1 MMJ Self Storage 0.2% 84.9%         17600 A.P. Hill Boulevard Bowling Green Caroline VA 22427 Self Storage Self Storage 2008 2022 29,530 SF   2,410,000 2,410,000 2,410,000                                                     318,819 44,069 274,750 1/31/2024 T-3 Annualized 240,896 45,710 195,186 12/31/2023 T-12 171,957 36,352 135,605 12/31/2022 T-12 92.0% 323,701 85,082 238,619 4,430 0 234,189         3,500,000 As Is 2/13/2024     99.3% 3/11/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/26/2024 NAP 2/26/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
44.02 Property   1 AAA Self Storage 0.0% 15.1%         842 US Route 280 Americus Sumter GA 31709 Self Storage Self Storage 2005 NAP 10,000 SF   430,000 430,000 430,000                                                     76,139 16,032 60,107 1/31/2024 T-3 Annualized NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 88.0% 73,132 29,687 43,445 1,500 0 41,945         870,000 As Is 2/21/2024     100.0% 3/11/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/26/2024 NAP 2/26/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                                                 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
45 Loan   1 Benton Crossing 0.3% 100.0% MSBNA MSMCH Group 6 NAP 15400 Sheldon Road Northville Wayne MI 48168 Retail Shadow Anchored 2008 NAP 14,253 SF 192.94 2,750,000 2,750,000 2,750,000 6.50000%     NAP 15,102.72 NAP 181,232.64 Interest Only No Actual/360 60 59 60 59 0 0 3/28/2024 1 5 5/5/2024 NAP 4/5/2029 NAP 0 0 L(25),D(31),O(4) 492,072 142,327 349,745 12/31/2023 T-12 478,662 126,375 352,287 12/31/2022 T-12 551,041 158,369 392,672 12/31/2021 T-12 95.0% 556,972 147,207 409,765 2,851 28,369 378,546 2.26 2.09 14.9% 13.8% 5,060,000 As Is 2/29/2024 54.3% 54.3% 100.0% 1/31/2024 No Rusty Bucket 4,511 31.6% 8/31/2028 Honey Tree Grille 3,652 25.6% 8/13/2028 Sheldon Nails and Spa 1,760 12.3% 12/31/2030 Alloy Personal Training 1,600 11.2% 6/30/2028 Deka Lash 1,530 10.7% 7/31/2030 3/6/2024 NAP 3/6/2024 NAP NAP No Fee NAP NAP NAP NAP 4,071 4,071 0 Springing 0 238 2,850 0 1,188 42,759 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 Francis Greenburger Francis Greenburger No No Recapitalization                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP                
46 Loan   1

Tysons Corner Center

 

 0.2% 100.0% JPMCB JPMCB NAP NAP 1961 Chain Bridge Road McLean Fairfax VA 22102 Retail Super Regional Mall 1968 1989; 2005 1,793,638 SF 395.84 2,460,000 2,460,000 2,460,000 6.60060%     NAP 13,719.16 NAP 164,629.92 Interest Only No Actual/360 60 55 60 55 0 0 12/4/2023 5 6 1/6/2024 NAP 12/6/2028 NAP 5 0 L(28),YM1(1),DorYM1(24),O(7) 129,617,825 44,086,503 85,531,322 9/30/2023 T-12 127,448,218 42,843,235 84,604,983 12/31/2022 T-12 126,677,910 43,141,634 83,536,276 12/31/2021 T-12 92.2% 140,618,916 43,516,369 97,102,547 358,728 1,793,638 94,950,181 2.04 2.00 13.7% 13.4% 1,800,000,000 As Is 10/5/2023 39.4% 39.4% 95.4% 11/1/2023 No Bloomingdale's 252,754 14.1% 7/22/2028 Macy's 237,076 13.2% 7/24/2028 Nordstrom 201,000 11.2% 3/31/2025 AMC Theatres 105,122 5.9% 9/30/2025 Primark 50,186 2.8% 5/31/2034 8/2/2023 NAP 8/7/2023 NAP NAP No Fee/Leasehold 8/31/2035 None 1,565,412 No 0 Springing 0 Springing 0 Springing 896,819 0 Springing 3,587,276 0 0 0 0 39,775,125 0 Outstanding TI/LC ($30,769,199); Gap Rent Reserve ($9,005,926) 0 0 NAP Hard Springing Yes No Yes No 2,460,000 707,540,000 3,945,876.88 3,959,596.04 NAP NAP 710,000,000 3,959,596.04 39.4% 2.00 13.7% NAP NAP NAP NAP NAP NAP NAP No NAP The Macerich Partnership, L.P. and Alaska Permanent Fund Corporation The Macerich Partnership, L.P. No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP