FWP 1 n4501_x9-premkta1.htm FWP

 

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-262701-07

 

FREE WRITING PROSPECTUS, DATED September 12, 2024

The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-262701) 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 website at www.sec.gov. Alternatively, the depositor or Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Bancroft Capital, LLC and Drexel Hamilton, LLC or any other underwriter or dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-831-9146.

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. 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.

The information in this File is preliminary and 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in this File supersedes any contrary information contained in any prior File relating to the certificates and will be superseded by any contrary information contained in any subsequent File prior to the time of sale.

The securities related to this File are being offered when, as and if issued.  This free writing prospectus is not an offer to sell or a solicitation of an offer to buy such securities in any state or other jurisdiction where such offer, solicitation or sale is not permitted. Such securities do not represent an interest in or obligation of the depositor, the sponsors, the originators, the master servicer, the special servicer, the trustee, the certificate administrator, the operating advisor, the asset representations reviewer, the controlling class representative, any risk retention consultation parties, the companion loan holders (or their representatives), the underwriters or any of their respective affiliates.  Neither such securities nor the underlying mortgage loans are insured or guaranteed by any governmental agency or instrumentality or private insurer.

Any legends, disclaimers or other notices that may appear at the bottom of the 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) no representation being made that these materials are accurate or complete and that these materials may not be updated or (3) these materials possibly being confidential, are, in each case, 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.

 

 

 

 

Benchmark 2024-V10                                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                                   
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 (%)
                                                      1   2   2                                       3                                             4 4               5           6       6       6       6       6                                                                                             4             4                 8   7                                              
1 Loan   8 BioMed 2024 Portfolio 2 9.96%   CREFI, JPMCB, GSBI, WFB CREFI, GSMC NAP NAP Various Various Various Various Various Various Various Various Various 995,458 SF 552.40 73,500,000 73,500,000 73,500,000 5.48759809004295%     NAP 340,783.65 NAP 4,089,403.80 Interest Only No Actual/360 60 59 60 59 0 0 8/9/2024 1 9 9/9/2024 NAP 8/9/2029 NAP 0 0 YM0.5(25),DorYM0.5(28),O(7) 85,469,946 25,221,741 60,248,205 3/31/2024 T-12 84,472,430 25,317,096 59,155,334 12/31/2023 T-12 82,497,597 23,810,406 58,687,190 12/31/2022 T-12 93.7% 97,707,980 25,625,813 72,082,166 66,915 497,729 71,517,523 2.36 2.34 13.1% 13.0% 1,098,200,000 As Is Various 50.1% 50.1% 93.8%                                                                   0 Springing 0 Springing 0 0 0 0 Springing An amount equal to twelve (12) multiplied by the Rollover Reserve Monthly Deposit. 0 0 0 0 3,569,740 0 Unfunded Obligations Reserve 0 0 NAP Hard Springing Yes No Yes No 73,500,000 476,394,737 2,208,810.05 2,549,593.70 166,842,106 7.23928517798977% 716,736,843 3,570,087.72 65.3% 1.67 10.1% NAP NAP NAP NAP NAP NAP NAP Yes Mezzanine (Max Combined LTV of 65.3%; Min Combined Debt Yield of 9.66%; Intercreditor Agreement is required) BioMed Realty, L.P. BRE Edison L.P. No No Refinance   549,894,737 142,402,323 166,842,106 0 859,139,166 845,920,651 0 9,648,775 3,569,740 0 0 859,139,166 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
1.01 Property   1 200 Sidney 3.2% 32.2%         200 Sidney Street Cambridge Middlesex MA 02139 Mixed Use Lab/Office 2000 2016 188,616 SF   23,650,559 23,650,559 23,650,559                                                     23,664,042 6,898,096 16,765,946 3/31/2024 T-12 22,759,084 6,921,719 15,837,365 12/31/2023 T-12 22,214,851 6,661,111 15,553,740 12/31/2022 T-12 100.0% 31,122,294 6,841,858 24,280,436 33,951 94,308 24,152,177         323,600,000 As Is 4/30/2024     100.0% 4/12/2024 No AbbVie Inc. 119,980 63.6% 10/31/2029 Seres Therapeutics, Inc. 68,636 36.4% 1/13/2030 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/8/2024 NAP 4/8/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
1.02 Property   1 Lincoln Centre 2.1% 21.1%         200, 300, 400, 500 and 800 Lincoln Centre Drive Foster City San Mateo CA 94404 Mixed Use Lab/Office 2017 NAP 360,000 SF   15,473,684 15,473,684 15,473,684                                                     18,183,731 5,093,898 13,089,833 3/31/2024 T-12 18,193,066 5,181,882 13,011,184 12/31/2023 T-12 17,847,308 5,067,069 12,780,239 12/31/2022 T-12 100.0% 20,914,054 5,419,567 15,494,487 10,800 180,000 15,303,687         243,000,000 As Is 4/22/2024     100.0% 4/12/2024 Yes Illumina, Inc. 360,000 100.0% 1/15/2033 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/10/2024 NAP 4/8/2024 4/8/2024 12% No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
1.03 Property   1 40 Erie Street 1.4% 14.5%         40 Erie Street Cambridge Middlesex MA 02139 Mixed Use Lab/Office 1996 2015 106,638 SF   10,638,158 10,638,158 10,638,158                                                     14,104,382 4,651,964 9,452,417 3/31/2024 T-12 14,006,653 4,579,941 9,426,712 12/31/2023 T-12 12,121,371 4,032,638 8,088,733 12/31/2022 T-12 100.0% 15,205,784 4,613,990 10,591,794 4,266 53,319 10,534,209         151,900,000 As Is 4/30/2024     100.0% 4/12/2024 No Intellia Therapeutics, Inc. 65,319 61.3% 9/30/2026 BioNTech US Inc. 26,806 25.1% 9/30/2028 Gritstone Bio, Inc. 13,907 13.0% 4/30/2025 Make Life Sweeter, LLC 606 0.6% 12/4/2029 NAP NAP NAP NAP 4/8/2024 NAP 4/8/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
1.04 Property   1 4570 Executive Drive 1.2% 11.6%         4570 Executive Drive San Diego San Diego CA 92121 Mixed Use Lab/Office 2000 2019 125,550 SF   8,541,474 8,541,474 8,541,474                                                     10,674,557 3,762,645 6,911,912 3/31/2024 T-12 10,861,584 3,817,054 7,044,530 12/31/2023 T-12 10,448,701 3,452,658 6,996,043 12/31/2022 T-12 91.5% 12,230,158 3,839,407 8,390,751 7,533 62,775 8,320,443         120,000,000 As Is 4/24/2024     91.6% 4/12/2024 No BioMed Realty, L.P. 49,912 39.8% 6/22/2025 Human Longevity, Inc. 48,049 38.3% 9/12/2025 International AIDS Vaccine Initiative, Inc. 17,006 13.5% 8/20/2026 NAP NAP NAP NAP NAP NAP NAP NAP 4/8/2024 NAP 4/8/2024 4/8/2024 10% No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
1.05 Property   1 9360-9390 Towne Centre Drive 0.9% 9.2%         9360-9390 Towne Centre Drive San Diego San Diego CA 92121 Mixed Use Lab/Office 1990 2020 147,577 SF   6,769,737 6,769,737 6,769,737                                                     9,014,947 2,866,298 6,148,648 3/31/2024 T-12 8,970,666 2,982,548 5,988,118 12/31/2023 T-12 10,779,744 2,856,444 7,923,300 12/31/2022 T-12 60.6% 7,873,720 2,960,083 4,913,637 7,379 73,789 4,832,469         141,000,000 As Is 4/24/2024     65.6% 4/12/2024 No Poseida Therapeutics, Inc. 71,405 48.4% 12/31/2029 Biosplice Therapeutics, Inc. 25,391 17.2% 11/24/2030 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/8/2024 NAP 4/8/2024 4/8/2024 13% No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
1.06 Property   1 21 Erie Street 0.7% 7.4%         21 Erie Street Cambridge Middlesex MA 02139 Mixed Use Lab/Office 1925 2018 51,914 SF   5,428,362 5,428,362 5,428,362                                                     5,993,729 1,152,875 4,840,853 3/31/2024 T-12 5,866,478 1,065,329 4,801,149 12/31/2023 T-12 5,677,004 998,372 4,678,632 12/31/2022 T-12 100.0% 6,491,667 1,159,323 5,332,345 2,077 25,957 5,304,311         75,500,000 As Is 4/30/2024     100.0% 4/12/2024 Yes MIL 21E, LLC 51,914 100.0% 11/30/2030 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/8/2024 NAP 4/8/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
1.07 Property   1 47 Erie Street Parking Structure 0.3% 2.8%         47 Erie Street Cambridge Middlesex MA 02139 Other Parking Garage 1997 NAP 447 Spaces   2,030,921 2,030,921 2,030,921                                                     2,782,533 580,403 2,202,130 3/31/2024 T-12 2,770,094 552,837 2,217,257 12/31/2023 T-12 2,433,387 591,553 1,841,834 12/31/2022 T-12 NAP 2,782,533 584,424 2,198,109 0 0 2,198,109         28,000,000 As Is 4/30/2024     NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/8/2024 NAP 4/8/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
1.08 Property   1 Eastgate Mall 0.1% 1.3%         4575 Eastgate Mall San Diego San Diego CA 92121 Mixed Use Lab/Office 1989 2020 15,163 SF   967,105 967,105 967,105                                                     1,052,026 215,560 836,466 3/31/2024 T-12 1,044,805 215,786 829,019 12/31/2023 T-12 975,231 150,562 824,669 12/31/2022 T-12 100.0% 1,087,770 207,163 880,608 910 7,582 872,116         15,200,000 As Is 4/24/2024     100.0% 4/12/2024 Yes Poseida Therapeutics, Inc. 15,163 100.0% 12/31/2029 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/8/2024 NAP 4/8/2024 4/8/2024 10% No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
2 Loan   1 Hyatt Centric Hotel & Shops Waikiki Beach 9.3% 100.0% CREFI CREFI NAP NAP 349 Seaside Avenue Honolulu Honolulu  HI 96815 Mixed Use Hospitality/Retail 1980 2017 230 Rooms 300,000.00 69,000,000 69,000,000 69,000,000 7.40000%     NAP 431,409.72 NAP 5,176,916.64 Interest Only No Actual/360 60 60 60 60 0 0 8/21/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 0 0 L(24),D(29),O(7) 29,510,531 19,158,232 10,352,299 6/30/2024 T-12 27,948,543 17,834,903 10,113,640 12/31/2023 T-12 27,500,053 16,338,823 11,161,230 12/31/2022 T-12 90.8% 29,350,888 19,353,618 9,997,270 828,883 0 8,896,601 1.93 1.72 14.5% 12.9% 135,200,000 As Is 7/1/2024 51.0% 51.0% 90.8% 6/30/2024 No Nordstrom Rack 34,459 62.1% 8/31/2026 Island Gourmet Market 13,074 23.6% 4/30/2031 Ice Monster 1,996 3.6% 6/30/2028 Starbucks Corporation 1,956 3.5% 2/28/2027 National Car Rental 868 1.6% 10/31/2027 7/10/2024 NAP 7/8/2024 NAP NAP Yes - AE Leasehold 12/31/2081 None 2,764,284 No 0 172,519 316,567 79,142 0 81,389 0 0 14,643 0 0 0 0 0 460,714 Springing Ground Rent Reserve (Upfront: $460,714), PIP Reserve (Monthly: Springing) 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 Financial Partners Group Co., Ltd. Financial Partners Group Co., Ltd. No No Recapitalization No 69,000,000 0 0 0 69,000,000 0 0 1,796,180 777,281 66,426,540 0 69,000,000 NAP 242.89 220.54 90.8% 242.89 220.54 90.8% 238.21 206.65 86.8% 239.08 206.28 86.3%
3 Loan   6 Culver Collection 8.9%   GACC, WFBNA GACC Group 1 NAP Various Culver City Los Angeles CA 90232 Various Various Various Various 307,905 SF 389.73 66,000,000 66,000,000 66,000,000 6.57000%     NAP 366,368.75 NAP 4,396,425.00 Interest Only No Actual/360 60 60 60 60 0 0 8/29/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 0 0 YM1(24),DorYM1(29),O(7) 18,683,095 3,857,967 14,825,128 6/30/2024 T-12 18,869,707 3,934,922 14,934,785 12/31/2023 T-12 17,728,990 3,698,979 14,030,011 12/31/2022 T-12 76.0% 18,091,947 3,505,125 14,586,821 76,976 261,858 14,247,988 1.82 1.78 12.2% 11.9% 240,200,000 As Portfolio 6/13/2024 50.0% 50.0% 72.8%                                                                   227,527 45,505 0 Springing 0 Springing 153,953 2,000,000 38,488 0 0 0 0 0 5,659,136 0 Rent Concession Reserve (Upfront: $3,526,546), Outstanding Leasing Reserve (Upfront: $2,132,590) 0 0 NAP Hard Springing Yes Yes Yes No 66,000,000 54,000,000 299,756.25 666,125.00 12,000,000 11.00000% 132,000,000 777,652.78 55.0% 1.53 11.1% NAP NAP NAP NAP NAP NAP NAP No NAP Hackman Capital Partners, LLC HCP Studio Fund, LP and HCP Studio Parallel Fund A, LP No No Refinance   120,000,000 10,719,195 12,000,000 0 142,719,195 122,616,144 0 12,216,389 7,886,663 0 0 142,719,195 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
3.01 Property   1 Hayden & National 4.3% 47.7%         3520-3542 Hayden Avenue Culver City Los Angeles CA 90232 Office CBD 1945, 2000, 2001, 2002, 2014 NAP 157,620 SF   31,507,538 31,507,538 31,507,538                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         114,000,000 As Is 6/13/2024     54.3% 8/31/2024 No Scopely, Inc. 28,199 17.9% 8/31/2032 MarketCast LLC 11,145 7.1% 2/28/2030 Samitaur Constructs 11,089 7.0% 8/31/2032 Zambezi 10,484 6.7% 12/31/2027 Arsonal 9,263 5.9% 6/30/2025 3/8/2024 NAP 3/18/2024 6/3/2024 7% No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
3.02 Property   1 3505-3525 Hayden 2.0% 22.1%         3505-3525 Hayden Avenue Culver City Los Angeles CA 90232 Office CBD 1948 NAP 66,932 SF   14,592,965 14,592,965 14,592,965                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         52,800,000 As Is 6/13/2024     100.0% 8/31/2024 No Scopely, Inc. 60,794 90.8% 8/31/2032 WC+A 6,138 9.2% 10/31/2028 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/8/2024 NAP 3/6/2024 6/3/2024 12% No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
3.03 Property   1 Hayden & Higuera 0.8% 9.3%         8557 & 8559 Higuera Street and 3623-3635 Hayden Avenue Culver City Los Angeles CA 90232 Office CBD 1942 1995 35,111 SF   6,163,317 6,163,317 6,163,317                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         22,300,000 As Is 6/13/2024     66.5% 8/31/2024 No Decoded Advertising 13,919 39.6% 1/31/2029 Eric Owen Moss 5,728 16.3% 11/30/2026 Samitaur Constructs 3,697 10.5% 11/30/2026 NAP NAP NAP NAP NAP NAP NAP NAP 3/8/2024 NAP 3/11/2024 6/3/2024 10% No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
3.04 Property   1 3555 Hayden 0.7% 7.6%         3555 Hayden Avenue Culver City Los Angeles CA 90232 Office CBD 1949, 1979 2024 24,919 SF   5,002,513 5,002,513 5,002,513                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         18,100,000 As Is 6/13/2024     100.0% 8/31/2024 Yes Apple 24,919 100.0% 2/28/2030 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/8/2024 NAP 3/8/2024 6/3/2024 10% No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
3.05 Property   1 8511 Warner Drive 0.6% 6.8%         8511 Warner Drive Culver City Los Angeles CA 90232 Other Parking Garage 1951 NAP 295 Spaces   4,477,387 4,477,387 4,477,387                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         16,200,000 As Is 6/13/2024     NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/8/2024 NAP 6/14/2024 6/3/2024 0% No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
3.06 Property   1 3585 Hayden 0.6% 6.4%         3585 Hayden Avenue Culver City Los Angeles CA 90232 Office CBD 2010 NAP 23,323 SF   4,256,282 4,256,282 4,256,282                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         15,400,000 As Is 6/13/2024     100.0% 8/31/2024 No Chownow 19,167 82.2% 7/31/2027 Sprouts JK 4,156 17.8% 7/31/2031 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/8/2024 NAP 3/19/2024 6/3/2024 6% No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
4 Loan   1 Bronx Terminal Market 8.1% 100.0% GACC, BANA, SMC, WFBNA GACC NAP NAP 610 Exterior Street Bronx Bronx NY 10451 Retail Anchored 2009 NAP 918,779 SF 261.22 60,000,000 60,000,000 60,000,000 5.18100%     NAP 262,647.92 NAP 3,151,775.04 Interest Only  No Actual/360 60 59 60 59 0 0 8/6/2024 1 6 9/6/2024 NAP 8/6/2029 NAP 5 0 L(23),YM1(2),DorYM1(31),O(4) 47,421,498 17,043,518 30,377,981 3/31/2024 T-12 48,058,002 17,301,924 30,756,078 12/31/2023 T-12 48,167,771 16,915,840 31,251,930 12/31/2022 T-12 90.1% 46,320,029 17,725,341 28,594,688 183,756 918,779 27,492,153 2.27 2.18 11.9% 11.5% 555,000,000 As Is 4/30/2024 43.2% 43.2% 90.2% 4/19/2024 No Target 188,446 20.5% 10/14/2033 BJ's Wholesale Club 130,099 14.2% 8/2/2029 Home Depot 124,955 13.6% 2/28/2034 Food Bazaar 77,915 8.5% 9/30/2039 Burlington Coat Factory 74,329 8.1% 1/31/2028 5/1/2024 NAP 4/30/2024 NAP NAP Yes - AE Leasehold 9/13/2055 5, 10-year extension options The greater of (i) $394,961.41 ("Adjusted Base Amount") and (ii) 5% of Gross Revenue No 0 Springing 0 Springing 0 Springing 547,400 874,981 Springing 1,696,118 0 0 0 0 9,000,000 Springing DMV Space Reserve (Upfront: $9,000,000); Ground Rent Reserve (Monthly: Springing) 0 0 NAP Hard Springing Yes No Yes No 60,000,000 180,000,000 787,943.75 1,050,591.67 140,000,000 9.20000% 380,000,000 2,138,832.41 68.5% 1.07 7.5% NAP NAP NAP NAP NAP NAP NAP No NAP The Related Companies, L.P. The Related Companies, L.P. No No Refinance No 240,000,000 13,238,721 140,000,000 0 393,238,721 376,708,834 0 6,654,906 9,874,981 0 0 393,238,721 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
5 Loan   1 Moffett Towers Building D 6.3% 100.0% GSBI, DBRI, UBS AG GSMC, GACC NAP NAP 1100 Enterprise Way Sunnyvale Santa Clara CA 94089 Office Suburban 2014 NAP 357,481 SF 405.62 46,500,000 46,500,000 46,500,000 6.96000%     NAP 273,445.83 NAP 3,281,349.96 Interest Only No Actual/360 60 59 60 59 0 0 7/19/2024 1 6 9/6/2024 NAP 8/6/2029 NAP 0 0 L(24),YM1(1),DorYM1(28),O(7) 23,822,190 6,885,252 16,936,938 5/31/2024 T-12 23,927,769 6,281,296 17,646,474 12/31/2023 T-12 23,113,232 5,718,587 17,394,645 12/31/2022 T-12 96.5% 26,115,828 6,932,478 19,183,350 71,496 362,121 18,749,733 1.87 1.83 13.2% 12.9% 300,000,000 As Is 6/12/2024 48.3% 48.3% 100.0% 8/6/2024 Yes Amazon 357,481 100.0% 2/28/2031 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/31/2023 NAP 8/31/2023 8/31/2023 13% No Fee NAP NAP NAP NAP 1,035,239 207,048 0 Springing 0 Springing 0 0 0 0 0 0 0 0 0 Springing Lease Sweep Reserve 0 0 NAP Hard In Place Yes Yes Yes Yes 46,500,000 98,500,000 579,234.73 852,680.56 NAP NAP 145,000,000 852,680.56 48.3% 1.83 13.2% NAP NAP NAP NAP NAP NAP NAP No NAP Joseph K. Paul (a/k/a Jay Paul) Paul Guarantor LLC No No Recapitalization No 145,000,000 0 0 0 145,000,000 0 0 1,117,315 1,035,239 0 142,847,446 145,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6 Loan   1 Culver Steps 5.6% 100.0% DBRI, WFBNA GACC Group 1 NAP 9300 Culver Boulevard Culver City Los Angeles CA 90232 Mixed Use Office/Retail 2019 NAP 121,736 SF 616.09 41,250,000 41,250,000 41,250,000 6.63400%     NAP 231,211.02 NAP 2,774,532.24 Interest Only  No Actual/360 60 59 60 59 0 0 7/26/2024 1 6 9/6/2024 NAP 8/6/2029 NAP 0 0 L(25),D(28),O(7) 11,135,231 4,019,828 7,115,403 4/30/2024 T-12 10,011,522 3,873,413 6,138,109 12/31/2023 T-12 8,578,704 4,229,505 4,349,198 12/31/2022 T-12 96.9% 12,993,750 4,474,015 8,519,735 24,347 121,736 8,373,652 1.69 1.66 11.4% 11.2% 130,000,000 As Is 6/4/2024 57.7% 57.7% 100.0% 7/31/2024 No Amazon 79,369 65.2% 7/31/2031 Erewhon Market 14,558 12.0% 5/31/2038 Laurel Grill 7,541 6.2% 6/30/2034 Sephora 4,166 3.4% 1/31/2031 Afuri Ramen 3,015 2.5% 3/1/2034 6/3/2024 NAP 6/3/2024 6/3/2024 9% No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 48,696 1,179,329 Springing 243,480 0 0 0 0 0 0 NAP 0 0 NAP Hard Springing Yes Yes Yes Yes 41,250,000 33,750,000 189,172.66 420,383.68 NAP NAP 75,000,000 420,383.68 57.7% 1.66 11.4% NAP NAP NAP NAP NAP NAP NAP No NAP Hackman Capital Partners, LLC Hackman Capital Partners, LLC No No Refinance No 75,000,000 0 0 0 75,000,000 68,575,407 0 1,181,363 1,179,329 4,063,901 0 75,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
7 Loan   1 2767-2777 Atlantic Avenue 4.1% 100.0% CREFI CREFI NAP NAP 2767-2777 Atlantic Avenue Brooklyn Kings NY 11207 Multifamily Mid Rise 2024 NAP 104 Units 288,461.54 30,000,000 30,000,000 30,000,000 6.25000%     NAP 158,420.14 NAP 1,901,041.68 Interest Only No Actual/360 60 60 60 60 0 0 8/8/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 0 0 L(24),D(29),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 97.0% 2,994,289 452,524 2,541,766 27,448 6,327 2,507,991 1.34 1.32 8.5% 8.4% 44,200,000 As Is 5/7/2024 67.9% 67.9% 69.2% 7/4/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 5/22/2024 NAP 5/22/2024 NAP NAP No Fee NAP NAP NAP NAP 16,973 4,243 35,438 7,088 0 2,270 0 0 691 0 0 0 0 0 6,587,268 0 Affordable Housing Reserve ($6,309,095), Section 421-a Reserve ($278,173) 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 Rosenberg Jacob Rosenberg No No Refinance No 30,000,000 0 0 0 30,000,000 20,042,113 0 2,012,577 6,639,679 1,305,631 0 30,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
8 Loan   3 AAA Stow-A-Way Storage Portfolio 3.9%   CREFI CREFI NAP NAP Various Various Various Various Various Self Storage Self Storage Various Various 732,769 SF 38.89 28,500,000 28,500,000 28,500,000 6.95000%     NAP 167,355.03 NAP 2,008,260.36 Interest Only No Actual/360 60 60 60 60 0 0 8/13/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 0 0 L(24),D(29),O(7) 4,664,898 1,658,934 3,005,964 5/31/2024 T-12 4,620,330 1,688,620 2,931,711 12/31/2023 T-12 4,361,759 1,934,593 2,427,166 12/31/2022 T-12 93.0% 4,664,898 1,538,800 3,126,097 96,144 0 3,029,953 1.56 1.51 11.0% 10.6% 45,200,000 As Is 3/6/2024 63.1% 63.1% 94.7%                                                                   128,299 16,037 11,212 11,212 0 8,012 0 0 0 0 0 0 0 48,250 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 Dubroc Robert Dubroc No Yes Acquisition   28,500,000 14,135,264 0 427,332 43,062,596 0 41,400,000 1,474,835 187,761 0 0 43,062,596 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
8.01 Property   1 AAA Stow-A-Way Storage - Paducah 3.2% 81.6%         Various Paducah, Kevil, Boaz McCracken, Graves KY 42001, 42003, 42027, 42053 Self Storage Self Storage 1989-2022 NAP 592,486 SF   23,249,199 23,249,199 23,249,199                                                     3,798,784 1,360,959 2,437,824 5/31/2024 T-12 3,773,854 1,403,810 2,370,043 12/31/2023 T-12 3,597,862 1,633,660 1,964,202 12/31/2022 T-12 96.5% 3,798,784 1,287,671 2,511,112 79,415 0 2,431,697         34,800,000 As Is 3/6/2024     96.3% 4/5/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/11/2024; 3/19/2024 NAP 3/11/2024; 3/19/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
8.02 Property   1 AAA Stow-A-Way Storage - Mayfield 0.5% 14.0%         Various Mayfield Graves KY 42066 Self Storage Self Storage 1989-2024 NAP 102,733 SF   3,986,764 3,986,764 3,986,764                                                     657,613 231,000 426,612 5/31/2024 T-12 642,781 216,373 426,408 12/31/2023 T-12 563,549 218,014 345,535 12/31/2022 T-12 79.8% 657,613 187,462 470,150 14,929 0 455,222         8,200,000 As Is 3/6/2024     87.4% 4/5/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/11/2024 NAP 3/11/2024 NAP NAP Yes - A, AE Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
8.03 Property   1 AAA Stow-A-Way Storage - Metropolis 0.2% 4.4%         19 Pullen Road Metropolis Massac IL 62960 Self Storage Self Storage 2009 2022 37,550 SF   1,264,037 1,264,037 1,264,037                                                     208,502 66,974 141,527 5/31/2024 T-12 203,695 68,436 135,259 12/31/2023 T-12 200,348 82,920 117,429 12/31/2022 T-12 81.0% 208,502 63,667 144,835 1,800 0 143,035         2,200,000 As Is 3/6/2024     89.3% 4/5/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/11/2024 NAP 3/11/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
9 Loan   1 1000 Lorimer 3.8% 100.0% CREFI CREFI NAP NAP 1000 Lorimer Street Brooklyn Kings NY 11222 Multifamily Mid Rise 2024 NAP 49 Units 577,551.02 28,300,000 28,300,000 28,300,000 6.89000%     NAP 164,745.96 NAP 1,976,951.52 Interest Only No Actual/360 60 60 60 60 0 0 8/21/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 0 0 L(24),D(33),O(3) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.6% 4,180,361 1,559,196 2,621,166 15,012 32,218 2,573,937 1.33 1.30 9.3% 9.1% 44,700,000 As Is 4/18/2024 63.3% 63.3% 100.0% 6/19/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/24/2024 NAP 4/24/2024 NAP NAP No Leasehold 3/31/2119 None 1,000,000 No 17,590 5,863 33,136 4,734 0 1,251 0 0 2,865 64,456 0 0 0 1,875 2,374,126 Springing The Learning Experience Gap Rent Reserve (Upfront: $754,580; Monthly: Springing); 421-a Abatement Reserve (Upfront: $671,313); Free Rent Reserve (Upfront: $499,170); ICAP Abatement Reserve (Upfront: $275,730); Ground Rent Reserve (Upfront: $173,333; Monthly: Springing); Condominium Common Charges Reserve (Monthly: 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 Jay Weitzman and Michael Weitzman Jay Weitzman and Michael Weitzman No No Refinance No 28,300,000 0 0 0 28,300,000 15,809,333 0 1,104,274 2,426,727 8,959,666 0 28,300,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
10 Loan   1 The Grove Apartments 3.5% 100.0% CREFI CREFI NAP NAP 1526 West Candletree Drive Peoria Peoria IL 61614 Multifamily Garden 1968 2023 318 Units 80,974.84 25,750,000 25,750,000 25,750,000 6.54000%     NAP 142,286.63 NAP 1,707,439.56 Interest Only No Actual/360 60 59 60 59 0 0 8/2/2024 1 6 9/6/2024 NAP 8/6/2029 NAP 0 0 L(25),D(32),O(3) 3,146,655 1,739,476 1,407,179 6/30/2024 T-12 2,248,919 1,862,610 386,309 12/31/2023 T-12 NAV NAV NAV NAV NAV 87.7% 4,119,437 1,533,642 2,585,795 87,132 0 2,498,663 1.51 1.46 10.0% 9.7% 45,400,000 As Is 6/19/2024 56.7% 56.7% 89.0% 7/15/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 6/21/2024 NAP 6/24/2024 NAP NAP No Fee NAP NAP NAP NAP 36,495 36,495 55,899 18,633 0 7,261 0 0 0 0 0 0 0 84,000 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 Avrohom Klor Avrohom Klor No No Refinance No 25,750,000 0 0 0 25,750,000 24,469,594 0 1,056,627 200,894 22,885 0 25,750,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11 Loan   2 Park City Office Portfolio 3.3%   GSBI GSMC NAP NAP Various Park City Summit UT 84098 Office Suburban Various NAP 122,778 SF 195.47 24,000,000 24,000,000 24,000,000 6.70000%     NAP 135,861.11 NAP 1,630,333.32 Interest Only No Actual/360 60 60 60 60 0 0 8/13/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 5 (Once per trailing 12-month period) 0 L(24),D(29),O(7) 4,623,247 1,644,089 2,979,158 5/31/2024 T-12 4,250,720 1,626,032 2,624,688 12/31/2023 T-12 3,784,476 1,361,290 2,423,186 12/31/2022 T-12 95.0% 4,754,697 1,487,664 3,267,033 30,695 174,021 3,062,318 2.00 1.88 13.6% 12.8% 39,000,000 As Is 6/14/2024 61.5% 61.5% 100.0%                                                                   209,986 19,090 7,279 3,639 0 2,558 61,389 1,800,000 Springing 1,800,000 0 0 0 0 376,722 0 Unfunded Obligations 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 James Balderson and M. Peter Iacobelli James Balderson and Crest Commercial Management, LLC No Yes Acquisition   24,000,000 18,051,344 0 0 42,051,344 0 38,750,000 907,358 2,393,986 0 0 42,051,344 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.01 Property   1 Newpark I 1.6% 50.0%         1141 West Ute Boulevard Park City Summit UT 84098 Office Suburban 2005 NAP 61,560 SF   12,000,000 12,000,000 12,000,000                                                     2,356,671 804,401 1,552,271 5/31/2024 T-12 2,198,561 781,539 1,417,022 12/31/2023 T-12 2,260,739 690,272 1,570,467 12/31/2022 T-12 95.0% 2,369,451 748,197 1,621,254 15,390 86,785 1,519,079         19,500,000 As Is 6/14/2024     100.0% 8/5/2024 No Western Steel Buildings Inc 11,239 18.3% 6/30/2027 JAMM Capital 6,000 9.7% 7/31/2028 Wells Fargo Advisors, LLC 5,816 9.4% 11/30/2028 Morgan Stanley & Co., Inc. 5,097 8.3% 6/30/2028 Parsons Behle & Latimer 4,084 6.6% 12/31/2024 8/8/2024 NAP 6/28/2024 6/28/2024 4% No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.02 Property   1 Newpark III 1.6% 50.0%         1389 Center Drive Park City Summit UT 84098 Office Suburban 2012 NAP 61,218 SF   12,000,000 12,000,000 12,000,000                                                     2,266,576 839,688 1,426,888 5/31/2024 T-12 2,052,158 844,493 1,207,666 12/31/2023 T-12 1,523,737 671,018 852,719 12/31/2022 T-12 95.0% 2,385,246 739,466 1,645,780 15,305 87,236 1,543,239         19,500,000 As Is 6/14/2024     100.0% 8/5/2024 No Assemble Park City, LLC 11,289 18.4% 3/31/2025 Maschoff, Gilmore & Israelsen 7,679 12.5% 1/31/2025 Big-D Signature, LLC 6,966 11.4% 11/30/2028 Stifel, Nicolaus & Company 5,751 9.4% 2/29/2028 Columbus Pacific Development, LLC 4,075 6.7% 9/30/2027 8/8/2024 NAP 6/28/2024 6/28/2024 4% No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
12 Loan   1 155-163 East 92nd Street 3.1% 100.0% CREFI CREFI NAP NAP 155-163 East 92nd Street New York New York NY 10128 Multifamily Mid Rise 1910 NAP 86 Units 263,953.49 22,700,000 22,700,000 22,700,000 6.33000%     NAP 121,405.59 NAP 1,456,867.08 Interest Only No Actual/360 60 59 60 59 0 0 7/30/2024 1 6 9/6/2024 NAP 8/6/2029 NAP 0 0 L(25),D(29),O(6) 2,932,795 1,186,302 1,746,494 5/31/2024 T-12 2,885,969 1,170,446 1,715,523 12/31/2023 T-12 2,666,146 1,284,720 1,381,426 12/31/2022 T-12 96.0% 3,213,022 1,341,240 1,871,782 21,500 7,431 1,842,851 1.28 1.26 8.2% 8.1% 34,100,000 As Is 5/8/2024 66.6% 66.6% 96.5% 7/1/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 5/3/2024 NAP 7/3/2024 NAP NAP No Fee NAP NAP NAP NAP 228,294 76,098 30,749 10,250 0 1,792 0 0 0 0 0 0 0 37,620 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 Nader Ohebshalom, Lisa Ohebshalom, Sherrie Soleymani, Jessica Harooni and Isaac Ohebshalom Nader Ohebshalom, Lisa Ohebshalom, Sherrie Soleymani, Jessica Harooni and Isaac Ohebshalom No Yes Refinance No 22,700,000 728,121 0 0 23,428,121 22,286,933 0 844,526 296,663 0 0 23,428,121 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
13 Loan   7 LocalStorage Seven Property Portfolio 3.0%   GSBI GSMC NAP NAP Various Various Various Various Various Self Storage Self Storage Various Various 259,933 SF 85.21 22,150,000 22,150,000 22,150,000 6.54000%     NAP 122,394.13 NAP 1,468,729.56 Interest Only No Actual/360 60 60 60 60 0 0 9/5/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 0 0 L(24),D(29),O(7) 2,406,308 631,664 1,774,644 7/31/2024 T-12 2,419,585 649,306 1,770,279 12/31/2023 T-12 2,287,541 596,909 1,690,632 12/31/2022 T-12 83.7% 2,534,073 826,911 1,707,162 26,611 0 1,680,551 1.16 1.14 7.7% 7.6% 31,700,000 As Is Various 69.9% 69.9% 83.3%                                                                   35,593 21,126 0 Springing 0 2,218 0 0 0 0 0 0 0 0 2,500,000 0 Earnout 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 Jonathan Salinas and Washington Street Investment Partners LLC Jonathan Salinas and Washington Street Investment Partners LLC No No Refinance   22,150,000 0 0 0 22,150,000 14,572,476 0 813,562 2,535,593 4,228,369 0 22,150,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
13.01 Property   1 1732 Derby-Milford Road 0.8% 27.1%         1732 Derby-Milford Road Derby New Haven CT 06418 Self Storage Self Storage 1988-2024 NAP 30,900 SF   5,997,598 5,997,598 5,997,598                                                     461,084 123,862 337,222 7/31/2024 T-12 493,819 134,759 359,060 12/31/2023 T-12 504,605 129,346 375,260 12/31/2022 T-12 86.6% 485,257 156,972 328,285 3,708 0 324,577         8,700,000 As Is 7/31/2024     90.5% 8/21/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/15/2024 NAP 8/15/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
13.02 Property   1 167 Fly Rod Road and 697 Moscow Road 0.6% 19.4%         167 Fly Rod Road and 697 Moscow Road Stowe  Lamoille VT 05672 Self Storage Self Storage 1974-1987 2003 37,433 SF   4,286,962 4,286,962 4,286,962                                                     589,242 143,505 445,737 7/31/2024 T-12 573,693 135,865 437,829 12/31/2023 T-12 533,983 119,073 414,910 12/31/2022 T-12 95.0% 625,118 200,866 424,253 3,743 0 420,509         6,200,000 As Is 8/5/2024     97.2% 8/21/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/15/2024 NAP 8/15/2024 NAP NAP Yes - AE Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
13.03 Property   1 1127 East Lynchburg Salem Turnpike 0.5% 17.8%         1127 East Lynchburg Salem Turnpike Bedford  Bedford  VA 24523 Self Storage Self Storage 1989 2002 63,400 SF   3,952,662 3,952,662 3,952,662                                                     410,121 70,495 339,626 7/31/2024 T-12 426,377 74,758 351,619 12/31/2023 T-12 396,673 89,057 307,616 12/31/2022 T-12 83.3% 429,974 95,049 334,925 6,340 0 328,585         5,300,000 As Is 7/31/2024     85.1% 8/21/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/15/2024 NAP 8/15/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
13.04 Property   1 635 Aaron Parkway 0.4% 13.1%         635 Aaron Parkway Centralia Clinton IL 62801 Self Storage Self Storage 2005 2024 57,275 SF   2,892,398 2,892,398 2,892,398                                                     280,641 94,110 186,530 7/31/2024 T-12 274,407 98,196 176,211 12/31/2023 T-12 247,496 80,173 167,323 12/31/2022 T-12 58.8% 290,975 130,777 160,198 5,728 0 154,471         4,300,000 As Is 8/1/2024     61.9% 8/21/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/15/2024 NAP 8/8/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
13.05 Property   1 617 Moon Clinton Road 0.3% 11.0%         617 Moon Clinton Road Coraopolis  Allegheny PA 15108 Self Storage Self Storage 2010 NAP 28,475 SF   2,440,985 2,440,985 2,440,985                                                     326,885 92,539 234,346 7/31/2024 T-12 321,572 91,799 229,773 12/31/2023 T-12 304,511 99,268 205,242 12/31/2022 T-12 89.8% 338,202 113,005 225,197 2,848 0 222,349         3,500,000 As Is 7/24/2024     90.3% 8/21/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/12/2024 NAP 8/12/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
13.06 Property   1 4073 Constitution Boulevard 0.2% 6.2%         4073 Constitution Boulevard Darlington  Beaver PA 16115 Self Storage Self Storage 2009 NAP 24,725 SF   1,367,800 1,367,800 1,367,800                                                     180,568 60,513 120,055 7/31/2024 T-12 173,022 62,438 110,583 12/31/2023 T-12 154,325 45,837 108,488 12/31/2022 T-12 84.9% 188,259 74,912 113,347 2,473 0 110,875         1,950,000 As Is 7/29/2024     87.7% 8/21/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/13/2024 NAP 8/13/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
13.07 Property   1 3739 New Castle Road 0.2% 5.5%         3739 New Castle Road West Middlesex  Mercer PA 16159 Self Storage Self Storage 2008 NAP 17,725 SF   1,211,595 1,211,595 1,211,595                                                     157,767 46,639 111,128 7/31/2024 T-12 156,695 51,490 105,205 12/31/2023 T-12 145,948 34,155 111,793 12/31/2022 T-12 86.3% 176,286 55,330 120,957 1,773 0 119,184         1,750,000 As Is 7/29/2024     87.4% 8/21/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/14/2024 NAP 8/14/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
14 Loan   1 Marriott Durham City Center 2.6% 100.0% CREFI CREFI NAP NAP 201 Foster Street Durham Durham NC 27701 Hospitality Full Service 1989 2016 190 Rooms 102,631.58 19,500,000 19,500,000 19,500,000 8.05000%     NAP 132,629.34 NAP 1,591,552.08 Interest Only No Actual/360 60 60 60 60 0 0 8/16/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 0 0 L(24),D(33),O(3) 10,941,356 7,954,131 2,987,225 6/30/2024 T-12 10,610,656 7,765,164 2,845,492 12/31/2023 T-12 8,951,498 6,575,286 2,376,211 12/31/2022 T-12 76.7% 10,911,462 7,748,984 3,162,478 436,458 0 2,726,020 1.99 1.71 16.2% 14.0% 38,200,000 Upon Completion 5/23/2025 51.0% 51.0% 76.7% 6/30/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 6/7/2024 NAP 6/7/2024 NAP NAP No Leasehold 10/9/2062 None 474,102 No 23,168 23,168 0 Springing 0 36,372 0 0 0 0 0 0 0 1,875 5,079,017 Springing Capital Improvements Reserve (Upfront: $5,000,000), Ground Rent Reserve (Upfront: $79,017), PIP Reserve (Monthly: 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 No NAP Lance T. Shaner, the Lance T. Shaner Revocable Trust and any Sponsor Family Entity Lance T. Shaner and the Lance T. Shaner Revocable Trust No No Recapitalization No 19,500,000 0 0 0 19,500,000 0 0 785,311 5,104,060 13,610,629 0 19,500,000 12/31/2039 183.99 141.19 76.7% 183.99 141.19 76.7% 180.70 137.37 76.0% 161.20 114.89 71.3%
15 Loan   1 8 West 38th Street 2.6% 100.0% CREFI CREFI NAP NAP 8 West 38th Street  New York New York NY 10018 Office CBD 1900 2021 120,589 SF 157.56 19,000,000 19,000,000 19,000,000 7.26000%     NAP 116,546.53 NAP 1,398,558.36 Interest Only No Actual/360 60 59 60 59 0 0 7/31/2024 1 6 9/6/2024 NAP 8/6/2029 NAP 5 (Once per trailing 365-day period) 0 L(25),D(28),O(7) 4,723,787 3,044,495 1,679,292 5/31/2024 T-12 4,975,023 2,710,003 2,265,020 12/31/2023 T-12 5,023,848 2,855,983 2,167,866 12/31/2022 T-12 90.0% 5,471,977 2,760,488 2,711,489 22,857 80,884 2,607,748 1.94 1.86 14.3% 13.7% 35,000,000 As Is 7/1/2024 54.3% 54.3% 90.3% 6/7/2024 No TCW Trends Inc. 13,300 11.0% 2/28/2025 Jay Conference 38th Street LLC 12,430 10.3% 6/30/2034 A&M Rosenthal dba Dessy 11,750 9.7% 6/30/2031 Cocooning Electronics LTD. 11,200 9.3% 12/31/2033 Apple Ophthalmology PLLC 4,620 3.8% 10/31/2030 6/21/2024 NAP 6/21/2024 NAP NAP No Fee NAP NAP NAP NAP 459,451 114,863 14,125 7,063 0 1,905 0 700,000 15,074 1,000,000 0 0 0 14,375 721,106 0 Unfunded Obligations Reserve ($422,705.78), Jay Suites Reserve ($298,400) 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 Juda Srour and Jack Srour Juda Srour and Jack Srour No No Acquisition No 19,000,000 19,459,890 0 0 38,459,890 0 35,000,000 1,550,832 1,909,058 0 0 38,459,890 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
16 Loan   2 Sunnyside Multifamily Portfolio 2.4%   CREFI CREFI Group 2 NAP Various Sunnyside Queens NY 11104 Multifamily Mid Rise Various NAP 168 Units 105,357.14 17,700,000 17,700,000 17,700,000 6.57000%     NAP 98,253.44 NAP 1,179,041.28 Interest Only No Actual/360 60 60 60 60 0 0 8/29/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 0 0 L(24),D(31),O(5) 3,250,437 1,758,589 1,491,848 7/31/2024 T-12 3,201,020 1,798,903 1,402,117 12/31/2023 T-12 3,009,685 1,654,152 1,355,533 12/31/2022 T-12 97.0% 3,265,265 1,748,363 1,516,901 42,000 0 1,474,901 1.29 1.25 8.6% 8.3% 26,200,000 As Is 3/11/2024 67.6% 67.6% 98.2%                                                                   194,404 64,801 0 Springing 0 3,500 0 0 0 0 0 0 0 25,990 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 Barry Rudofsky Barry Rudofsky No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
16.01 Property   1 43-04 48th Street 1.2% 51.4%         43-04 48th Street Sunnyside Queens NY 11104 Multifamily Mid Rise 1927 NAP 82 Units   9,101,000 9,101,000 9,101,000                                                     1,612,157 852,775 759,383 7/31/2024 T-12 1,602,190 875,693 726,496 12/31/2023 T-12 1,502,059 810,780 691,279 12/31/2022 T-12 97.0% 1,621,461 842,831 778,630 20,500 0 758,130         13,200,000 As Is 3/11/2024     98.8% 8/1/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/21/2024 NAP 3/22/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
16.02 Property   1 43-38 47th Street 1.2% 48.6%         43-38 47th Street Sunnyside Queens NY 11104 Multifamily Mid Rise 1928 NAP 86 Units   8,599,000 8,599,000 8,599,000                                                     1,638,280 905,815 732,465 7/31/2024 T-12 1,598,830 923,210 675,620 12/31/2023 T-12 1,507,626 843,372 664,254 12/31/2022 T-12 97.0% 1,643,804 905,533 738,271 21,500 0 716,771         13,000,000 As Is 3/11/2024     97.7% 8/1/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/22/2024 NAP 3/22/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
17 Loan   2 Roxborough Portfolio 2.4%   CREFI CREFI NAP NAP Various Philadelphia Philadelphia PA 19128 Multifamily Low Rise Various 2021 127 Units 139,370.08 17,700,000 17,700,000 17,700,000 6.41000%     NAP 95,860.66 NAP 1,150,327.92 Interest Only No Actual/360 60 60 60 60 0 0 9/4/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 0 0 L(24),D(29),O(7) 2,005,472 676,004 1,329,468 6/30/2024 T-12 1,877,238 663,503 1,213,735 12/31/2023 T-12 1,016,413 640,346 376,067 12/31/2022 T-12 95.0% 2,136,972 656,910 1,480,062 33,743 0 1,446,319 1.29 1.26 8.4% 8.2% 24,800,000 As Is 7/10/2024 71.4% 71.4% 96.1%                                                                   117,889 16,841 49,335 5,482 0 2,812 0 0 0 0 0 0 0 68,000 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 Yitzchok Moller, David Bernstein and Dovid A. Stern Yitzchok Moller, David Bernstein and Dovid A. Stern No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
17.01 Property   1 Domino Lane Apartments 1.5% 62.4%         477-89 Domino Lane Philadelphia Philadelphia PA 19128 Multifamily Low Rise 1960 2021 83 Units   11,053,165 11,053,165 11,053,165                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         15,500,000 As Is 7/10/2024     96.4% 7/15/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 7/10/2024 NAP 7/9/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
17.02 Property   1 Parker Place Apartments 0.9% 37.6%         300-312 Parker Avenue Philadelphia Philadelphia PA 19128 Multifamily Low Rise 1974 2021 44 Units   6,646,835 6,646,835 6,646,835                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         9,300,000 As Is 7/10/2024     95.5% 7/15/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 7/10/2024 NAP 7/10/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
18 Loan   1 Stonebriar Centre 2.2% 100.0% GSBI, BANA, SGFC GSMC NAP NAP 2601 Preston Road Frisco Collin TX 75033 Retail Super Regional Mall 2000 NAP 1,096,880 SF 232.48 16,000,000 16,000,000 16,000,000 6.99900%     NAP 94,616.11 NAP 1,135,393.32 Interest Only No Actual/360 60 58 60 58 0 0 7/1/2024 2 1 8/1/2024 NAP 7/1/2029 NAP 0 0 L(26),D(27),O(7) 59,253,463 15,561,540 43,691,924 4/30/2024 T-12 59,426,990 15,869,494 43,557,495 12/31/2023 T-12 56,031,261 16,837,781 39,193,479 12/31/2022 T-12 95.0% 58,468,101 15,644,476 42,823,625 219,376 1,038,756 41,565,493 2.37 2.30 16.8% 16.3% 605,000,000 As Is 5/13/2024 42.1% 42.1% 96.7% 4/30/2024 No JCPenney 162,347 14.8% 12/31/2040 AMC Theatres 94,560 8.6% 9/30/2028 DICK'S Sporting Goods 77,411 7.1% 1/31/2027 Kidzania 60,000 5.5% 11/30/2046 Haverty's Furniture 60,000 5.5% 1/31/2026 4/15/2024 NAP 4/16/2024 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 438,752 0 91,407 2,193,760 0 0 0 0 12,477,527 0 Rollover Reserve ($11,720,606), Gap Rent Reserve ($756,921) 0 0 NAP Hard Springing Yes Yes Yes No 16,000,000 239,000,000 1,413,328.16 1,507,944.27 NAP NAP 255,000,000 1,507,944.27 42.1% 2.30 16.8% NAP NAP NAP NAP NAP NAP NAP No NAP GGP/Homart II L.L.C., Brookfield Properties Retail Holding LLC and New York State Common Retirement Fund GGP/Homart II L.L.C. No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
19 Loan   1 2315 North Front Street 1.9% 100.0% GACC GACC NAP NAP 2315-2325 North Front Street Philadelphia Philadelphia PA 19133 Multifamily Mid Rise 2023 NAP 63 Units 219,444.44 13,825,000 13,825,000 13,825,000 6.39600%     NAP 74,710.68 NAP 896,528.16 Interest Only No Actual/360 60 60 60 60 0 0 8/14/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 0 0 L(24),D(29),O(7) 743,317 161,043 582,274 4/30/2024 T-12 NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,347,865 191,287 1,156,577 15,750 0 1,140,827 1.29 1.27 8.4% 8.3% 19,400,000 As Is 4/18/2024 71.3% 71.3% 96.8% 7/23/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/24/2024 NAP 8/2/2024 NAP NAP No Fee / Leasehold 7/31/2053 None 10 No 9,567 1,367 13,453 2,242 0 1,454 0 0 0 0 150,000 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 Rory Scerri-Marion and Daniel Almog Rory Scerri-Marion and Daniel Almog No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20 Loan   1 Field Haven Apartments 1.9% 100.0% GSBI GSMC NAP NAP 1077 Gateview Drive Portland Sumner TN 37148 Multifamily Garden 2023 NAP 112 Units 123,214.29 13,800,000 13,800,000 13,800,000 6.85000%     NAP 79,869.10 NAP 958,429.20 Interest Only No Actual/360 60 60 60 60 0 0 8/22/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 0 0 L(24),D(29),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,774,461 525,573 1,248,888 22,400 0 1,226,488 1.30 1.28 9.0% 8.9% 21,800,000 As Is 7/16/2024 63.3% 63.3% 100.0% 8/21/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 7/24/2024 NAP 7/24/2024 NAP NAP No Fee NAP NAP NAP NAP 125,807 15,726 10,983 3,661 0 1,867 0 0 0 0 0 0 0 0 0 0 NAP 0 0 NAP None None 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 Burrell, Chase Kelley, Michael Bechert, Travis Diener and Steven Holdren Michael Burrell, Chase Kelley, Michael Bechert, Travis Diener and Steven Holdren No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
21 Loan   1 5th & K 1.5% 100.0% GSBI GSMC NAP NAP 301-333 Fifth Avenue, 579 K Street and 356 Sixth Avenue San Diego San Diego CA 92101 Mixed Use Retail/Other 2005 NAP 28,259 SF 389.26 11,000,000 11,000,000 11,000,000 6.38000%     NAP 59,295.60 NAP 711,547.20 Interest Only No Actual/360 60 60 60 60 0 0 8/28/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 0 0 L(24),DorYM1(29),O(7) 1,790,715 281,255 1,509,460 6/30/2024 T-12 1,742,531 272,639 1,469,892 12/31/2023 T-12 1,595,135 264,518 1,330,618 12/31/2022 T-12 95.0% 1,825,979 340,718 1,485,261 7,065 17,174 1,461,022 2.09 2.05 13.5% 13.3% 23,100,000 As Is 6/26/2024 47.6% 47.6% 100.0% 7/31/2024 No Union Kitchen & Tap Gaslamp 7,577 26.8% 12/31/2028 La Conde Restaurant 5,604 19.8% 7/31/2031 Gaslamp Garage 4,897 17.3% 1/31/2029 NAP NAP NAP NAP NAP NAP NAP NAP 7/2/2024 NAP 7/5/2024 7/2/2024 9% No Fee NAP NAP NAP NAP 47,917 7,986 3,743 624 35,324 0 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 Joyce T. Battaglia and Brian F. Caine Joyce T. Battaglia and Brian F. Caine No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
22 Loan   1 Residence Inn Pinehurst 1.4% 100.0% CREFI CREFI NAP NAP 105 Brucewood Road Southern Pines Moore NC 28387 Hospitality Extended Stay 1996 2023 80 Rooms 125,000.00 10,000,000 10,000,000 10,000,000 6.95000%     NAP 58,721.06 NAP 704,652.72 Interest Only No Actual/360 61 61 61 61 0 0 9/9/2024 0 6 10/6/2024 NAP 10/6/2029 NAP 0 0 L(24),D(30),O(7) 3,968,852 2,362,608 1,606,244 7/31/2024 T-12 3,518,791 2,136,473 1,382,318 12/31/2023 T-12 2,851,410 1,931,974 919,436 12/31/2022 T-12 77.3% 3,958,008 2,357,012 1,600,997 158,320 0 1,442,676 2.27 2.05 16.0% 14.4% 17,000,000 As Is 7/25/2024 58.8% 58.8% 77.3% 7/31/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/20/2024 NAP 8/20/2024 NAP NAP No Fee NAP NAP NAP NAP 65,973 6,597 0 Springing 0 13,193 0 0 0 0 0 0 0 43,000 123,425 Springing Tax Lien Reserve (Upfront: $123,425), PIP Reserve (Monthly: 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 No NAP Lovely Day Legacy Trust dated November 20, 2017 and Stanley P. Kozlowski Lovely Day Legacy Trust dated November 20, 2017 and Stanley P. Kozlowski No No Refinance No                         6/8/2033 172.02 132.94 77.3% 172.02 132.94 77.3% 149.80 116.62 77.8% 153.87 94.57 61.5%
23 Loan   1 Black Mountain Center 1.1% 100.0% CREFI CREFI NAP NAP 8325 West Happy Valley Road Peoria Maricopa  AZ 85383 Mixed Use Retail/Office 2020 NAP 28,418 SF 285.03 8,100,000 8,100,000 8,100,000 7.24000%     NAP 49,548.75 NAP 594,585.00 Interest Only No Actual/360 60 60 60 60 0 0 9/5/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 0 0 L(24),YM1(29),O(7) 892,999 131,432 761,567 3/31/2024 T-12 931,839 132,743 799,096 12/31/2023 T-12 NAV NAV NAV NAV NAV 91.2% 1,015,638 162,091 853,547 4,263 24,287 824,998 1.44 1.39 10.5% 10.2% 12,560,000 As Is 6/12/2024 64.5% 64.5% 91.8% 7/1/2024 No Humble Bistro 5,384 18.9% 5/15/2034 Gracie Jujitsu North Peoria 3,615 12.7% 12/1/2028 Thunderbird Footcare 3,133 11.0% 2/1/2027 TruDental 3,130 11.0% 12/17/2029 Black Mtn Mgmt 2,964 10.4% 9/30/2031 6/20/2024 NAP 6/20/2024 NAP NAP No Fee NAP NAP NAP NAP 9,801 4,900 0 Springing 0 Springing 0 50,000 2,960 0 0 0 0 0 215,360 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 Mihai Toma Mihai Toma No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
24 Loan   2 CityLine Huntsville Storage Portfolio 1.0%   CREFI CREFI NAP NAP Various Huntsville Madison AL Various Self Storage Self Storage Various NAP 136,050 SF 53.29 7,250,000 7,250,000 7,250,000 5.70000%     NAP 34,915.80 NAP 418,989.60 Interest Only No Actual/360 60 60 60 60 0 0 8/28/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 0 0 L(24),D(29),O(7) 1,208,162 393,643 814,520 6/30/2024 T-12 1,231,132 397,763 833,368 12/31/2023 T-12 1,269,784 385,957 883,827 12/31/2022 T-12 81.8% 1,222,187 396,379 825,809 13,605 0 812,204 1.97 1.94 11.4% 11.2% 14,350,000 As Is 8/8/2024 50.5% 50.5% 79.2%                                                                   45,658 4,566 4,669 2,334 2,840 1,134 0 0 0 0 0 0 0 46,156 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 Lawrence Charles Kaplan, Richard Schontz and George Thacker Lawrence Charles Kaplan, Richard Schontz and George Thacker No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
24.01 Property   1 Storage Sense - County Road 0.6% 61.5%         1015 County Road Northwest Huntsville Madison AL 35801 Self Storage Self Storage 2001 NAP 84,575 SF   4,460,000 4,460,000 4,460,000                                                     724,399 205,122 519,277 6/30/2024 T-12 744,666 214,912 529,755 12/31/2023 T-12 780,438 209,836 570,602 12/31/2022 T-12 83.3% 731,786 206,709 525,077 8,458 0 516,619         8,800,000 As Is 8/8/2024     76.9% 7/31/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/21/2024 NAP 8/20/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
24.02 Property   1 Storage Sense - Highway 72 0.4% 38.5%         2386 Highway 72 East Huntsville Madison AL 35811 Self Storage Self Storage 1993 NAP 51,475 SF   2,790,000 2,790,000 2,790,000                                                     483,763 188,521 295,242 6/30/2024 T-12 486,465 182,852 303,614 12/31/2023 T-12 489,346 176,121 313,225 12/31/2022 T-12 79.5% 490,401 189,670 300,732 5,148 0 295,584         5,550,000 As Is 8/8/2024     83.0% 7/31/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/20/2024 NAP 8/20/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
25 Loan   1 UC Flats 0.9% 100.0% CREFI CREFI NAP NAP 4612 Sansom Street Philadelphia Philadelphia PA 19139 Multifamily Low Rise 2017 NAP 42 Units 166,666.67 7,000,000 7,000,000 7,000,000 6.78000%     NAP 40,099.31 NAP 481,191.72 Interest Only No Actual/360 60 60 60 60 0 0 8/29/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 0 0 L(24),YM1(29),O(7) 839,950 286,003 553,947 6/30/2024 T-12 758,683 268,723 489,961 12/31/2023 T-12 711,991 181,249 530,743 12/31/2022 T-12 95.0% 967,586 299,122 668,464 10,500 0 657,964 1.39 1.37 9.5% 9.4% 12,300,000 As Is 6/10/2024 56.9% 56.9% 95.2% 7/29/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 6/21/2024 NAP 6/21/2024 NAP NAP No Fee NAP NAP NAP NAP 12,201 2,033 33,659 3,060 0 875 31,500 0 0 0 0 0 0 6,600 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 Vasant Makineni Vasant Makineni No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
26 Loan   1 1672 Third Avenue 0.9% 100.0% CREFI CREFI NAP NAP 1672 Third Avenue New York New York NY 10128 Mixed Use Multifamily/Retail 1905 2023 16 Units 412,187.50 6,595,000 6,595,000 6,595,000 6.47000%     NAP 36,051.90 NAP 432,622.80 Interest Only No Actual/360 60 59 60 59 0 0 8/2/2024 1 6 9/6/2024 NAP 8/6/2029 NAP 0 0 L(25),D(28),O(7) 846,787 284,710 562,077 5/31/2024 T-12 578,544 282,419 296,126 12/31/2023 T-12 NAV NAV NAV NAV NAV 95.0% 849,751 276,928 572,823 4,296 1,975 566,552 1.32 1.31 8.7% 8.6% 9,800,000 As Is 7/2/2024 67.3% 67.3% 100.0% 7/28/2024 No Bowen Hospitality LLC 1,975 100.0% 6/30/2031 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 7/12/2024 NAP 7/11/2024 NAP NAP No Fee NAP NAP NAP NAP 24,210 12,105 3,242 3,242 0 358 0 0 165 0 0 0 0 9,286 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 Steven Pinchasick Steven Pinchasick No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
27 Loan   1 Woodhaven 85 0.9% 100.0% DBRI GACC Group 2 NAP 84-25 85th Road Woodhaven Queens NY 11421 Multifamily Mid Rise 1935 NAP 48 Units 131,250.00 6,300,000 6,300,000 6,300,000 5.89000%     NAP 31,351.98 NAP 376,223.76 Interest Only No Actual/360 60 60 60 60 0 0 8/29/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 0 0 L(24),D(29),O(7) 994,018 452,942 541,075 7/31/2024 T-12 954,346 442,939 511,407 12/31/2023 T-12 930,021 443,535 486,486 12/31/2022 T-12 93.4% 997,955 465,854 532,101 17,678 0 514,423 1.41 1.37 8.4% 8.2% 8,400,000 As Is 5/23/2024 75.0% 75.0% 93.8% 8/1/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 6/3/2024 NAP 5/31/2024 NAP NAP No Fee NAP NAP NAP NAP 58,128 19,376 0 Springing 0 1,473 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 Bronstein Equities LLC Bronstein Equities LLC No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
28 Loan   3 West Fargo Industrial 0.8%   GACC GACC NAP NAP Various West Fargo Cass ND 58078 Industrial Warehouse Various NAP 150,099 SF 38.31 5,750,000 5,750,000 5,750,000 7.14300%     NAP 34,702.25 NAP 416,427.00 Interest Only No Actual/360 60 58 60 58 0 0 6/20/2024 2 6 8/6/2024 NAP 7/6/2029 NAP 0 0 L(12),YM1(43),O(5) 1,055,754 364,086 691,668 2/29/2024 T-12 1,075,694 356,521 719,174 12/31/2023 T-12 1,015,923 364,780 651,143 12/31/2022 T-12 95.0% 1,096,004 346,639 749,364 22,515 75,050 651,800 1.80 1.57 13.0% 11.3% 10,600,000 As Is 5/2/2024 54.2% 54.2% 97.5%                                                                   65,047 13,543 0 Springing 0 1,876 67,545 0 6,254 225,149 0 0 0 25,575 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 Presidio Property Trust, Inc. Presidio Property Trust, Inc. No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
28.01 Property   1 1700 and 1740 Main Avenue West 0.4% 54.7%         1700 and 1740 Main Avenue West West Fargo Cass ND 58078 Industrial Warehouse 1998 NAP 82,347 SF   3,146,226 3,146,226 3,146,226                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         5,800,000 As Is 5/2/2024     100.0% 6/17/2024 No MAC Company 17,860 21.7% 12/31/2026 Studio 7 Productions, Inc 12,967 15.7% 3/31/2026 Dakota Fluid Power, Inc 12,694 15.4% 4/30/2025 Cintas Corporation No. 2 12,401 15.1% 1/31/2027 All States Flooring, Inc 6,925 8.4% 10/31/2024 5/6/2024 NAP 5/7/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
28.02 Property   1 474, 500 and 526 10th Street Northeast 0.3% 35.8%         474, 500 and 526 10th Street Northeast West Fargo Cass ND 58078 Industrial Warehouse 2005 NAP 52,752 SF   2,061,321 2,061,321 2,061,321                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         3,800,000 As Is 5/2/2024     100.0% 6/17/2024 No Braun Intertec Corporation 15,000 28.4% 2/28/2026 Michelle Soldier 6,000 11.4% 8/31/2028 Valley Imports, Inc 5,939 11.3% 9/30/2026 SnS Auto Supply LLC 5,313 10.1% 5/31/2025 Patrick Ash Transportation, LTD 4,500 8.5% 11/30/2026 5/6/2024 NAP 5/3/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
28.03 Property   1 617 and 625 13th Street Northeast 0.1% 9.4%         617 and 625 13th Street Northeast West Fargo Cass ND 58078 Industrial Warehouse 2004 NAP 15,000 SF   542,453 542,453 542,453                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,000,000 As Is 5/2/2024     75.0% 6/17/2024 No Rick Randall Construction, LLC 5,000 33.3% 3/31/2026 Colonial Enterprises, Inc. 3,750 25.0% 8/31/2026 Brian Giffen 1,250 8.3% 3/31/2025 Robert Stephens 1,250 8.3% 3/31/2025 NAP NAP NAP NAP 5/6/2024 NAP 5/3/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
29 Loan   1 Woodman Townhomes 0.8% 100.0% DBRI GACC NAP NAP 6958 Woodman Avenue Van Nuys Los Angeles CA 91405 Multifamily Garden 1964 2021 23 Units 247,826.09 5,700,000 5,700,000 5,700,000 5.99700%     NAP 28,881.39 NAP 346,576.68 Interest Only No Actual/360 60 58 60 58 0 0 6/26/2024 2 6 8/6/2024 NAP 7/6/2029 NAP 0 0 L(26),D(29),O(5) 513,551 169,553 343,998 4/30/2024 T-12 443,844 158,516 285,328 12/31/2023 T-12 157,109 131,828 25,281 12/31/2022 T-12 95.0% 610,178 160,398 449,780 5,750 0 444,030 1.30 1.28 7.9% 7.8% 8,800,000 As Is 4/23/2024 64.8% 64.8% 95.7% 5/15/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/30/2024 NAP 4/29/2024 4/29/2024 17% No Fee NAP NAP NAP NAP 0 5,655 5,256 1,051 0 479 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 Sean Hashem, Fareed Kanani and Joshua Allen Farahi Sean Hashem, Fareed Kanani and Joshua Allen Farahi No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
30 Loan   1 Inwood 213 0.7% 100.0% DBRI GACC Group 2 NAP 514 West 213th Street New York New York NY 10034 Multifamily Mid Rise 1927 NAP 45 Units 113,333.33 5,100,000 5,100,000 5,100,000 6.03000%     NAP 25,983.44 NAP 311,801.28 Interest Only No Actual/360 60 60 60 60 0 0 8/29/2024 0 6 10/6/2024 NAP 9/6/2029 NAP 0 0 L(24),D(29),O(7) 879,512 491,371 388,141 6/30/2024 T-12 860,333 461,248 399,085 12/31/2023 T-12 827,321 443,102 384,219 12/31/2022 T-12 92.0% 871,762 454,510 417,252 11,250 0 406,002 1.34 1.30 8.2% 8.0% 7,100,000 As Is 5/29/2024 71.8% 71.8% 93.3% 8/22/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 6/3/2024 NAP 5/31/2024 NAP NAP No Fee NAP NAP NAP NAP 41,175 13,725 0 Springing 0 938 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 Bronstein Equities LLC Bronstein Equities LLC No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
31 Loan   1 1000 Albion Avenue 0.7% 100.0% GSBI GSMC NAP NAP 1000 Albion Avenue Schaumburg Cook IL 60193 Industrial Printing Press 2000 NAP 160,000 SF 31.25 5,000,000 5,000,000 4,751,733 7.29000%     34,244.57 NAP 410,934.84 NAP Amortizing Balloon No Actual/360 1 1 61 61 360 360 9/10/2024 0 6 10/6/2024 11/6/2024 10/6/2029 NAP 0 0 L(24),D(30),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 604,322 0 604,322 24,000 24,173 556,149 1.47 1.35 12.1% 11.1% 13,800,000 As Is 7/2/2024 36.2% 34.4% 100.0% 8/6/2024 Yes Chicago Tribune 160,000 100.0% 5/19/2033 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 7/12/2024 NAP 7/12/2024 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 0 0 10,000 0 0 0 0 14,355 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 Twenty Lake Equities II, LLC Twenty Lake Equities II, LLC No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
32 Loan   5 Trust Communities MHP Portfolio 0.7%   GACC GACC NAP NAP Various Summerville Various SC Various Manufactured Housing Manufactured Housing Various Various 70 Pads 71,428.57 5,000,000 5,000,000 5,000,000 6.57000%     NAP 27,755.21 NAP 333,062.52 Interest Only  No Actual/360 60 59 60 59 0 0 7/29/2024 1 6 9/6/2024 NAP 8/6/2029 NAP 0 0 L(24),YM1(32),O(4) 492,318 191,237 301,081 2/29/2024 T-12 462,047 117,419 344,628 12/31/2023 T-12 214,535 49,600 164,935 12/31/2022 T-12 95.0% 638,085 195,525 442,560 3,717 0 438,843 1.33 1.32 8.9% 8.8% 7,800,000 As Portfolio 4/15/2024 64.1% 64.1% 100.0%                                                                   50,443 6,305 4,832 2,416 0 310 0 0 0 0 0 0 0 8,850 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 Matthew John Bitter, Eric Michael Deraney and Edwin Ward Bitter III Matthew John Bitter, Eric Michael Deraney and Edwin Ward Bitter III No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
32.01 Property   1 Bell MHC 0.2% 27.6%         110 Bell Drive Summerville Charleston SC 29485 Manufactured Housing Manufactured Housing 1979 2023 16 Pads   1,381,579 1,381,579 1,381,579                                                     53,619 17,933 35,685 2/29/2024 T-12 NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 156,047 27,789 128,258 800 0 127,458         2,200,000 As Is 4/15/2024     100.0% 7/15/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 5/3/2024 NAP 5/3/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
32.02 Property   1 Magnolia MHC 0.2% 26.3%         109 East 8th North Street Summerville Dorchester SC 29483 Manufactured Housing Manufactured Housing 1986 NAP 21 Pads   1,315,789 1,315,789 1,315,789                                                     181,933 82,035 99,898 2/29/2024 T-12 202,172 53,871 148,301 12/31/2023 T-12 NAV NAV NAV NAV NAV 95.0% 203,027 77,028 125,999 1,145 0 124,855         1,900,000 As Is 4/15/2024     100.0% 7/15/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 5/3/2024 NAP 5/3/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
32.03 Property   1 Palzita MHC 0.1% 17.1%         1-10 Palzita Lane Summerville Dorchester SC 29485 Manufactured Housing Manufactured Housing 2006 NAP 10 Pads   855,263 855,263 855,263                                                     85,850 19,360 66,490 2/29/2024 T-12 84,075 16,118 67,957 12/31/2023 T-12 66,267 15,096 51,171 12/31/2022 T-12 95.0% 94,240 24,972 69,268 560 0 68,708         1,300,000 As Is 4/15/2024     100.0% 7/15/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 5/3/2024 NAP 5/3/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
32.04 Property   1 Thomas MHC 0.1% 14.5%         740 East Cain Street Summerville Charleston SC 29485 Manufactured Housing Manufactured Housing 1968 NAP 13 Pads   723,684 723,684 723,684                                                     88,366 24,764 63,603 2/29/2024 T-12 89,161 19,088 70,072 12/31/2023 T-12 81,368 17,816 63,552 12/31/2022 T-12 95.0% 89,161 27,378 61,783 653 0 61,130         1,100,000 As Is 4/15/2024     100.0% 7/15/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 5/3/2024 NAP 5/3/2024 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
32.05 Property   1 Cone MHC 0.1% 14.5%         232-250 Cone Lane Summerville Dorchester SC 29483 Manufactured Housing Manufactured Housing 1989 NAP 10 Pads   723,684 723,684 723,684                                                     82,550 47,145 35,405 2/29/2024 T-12 86,640 28,342 58,298 12/31/2023 T-12 66,900 16,688 50,211 12/31/2022 T-12 95.0% 95,610 38,359 57,251 560 0 56,691         1,100,000 As Is 4/15/2024     100.0% 7/15/2024 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 5/3/2024 NAP 5/3/2024 NAP NAP Yes - AE Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP

 

 

 

 

Footnotes to Annex A
   
(1) The Administrative Fee Rate includes the Servicing Fee Rate, the Operating Advisor Fee Rate, the Trustee/Certificate Administrator Fee Rate and the CREFC® Intellectual Property Royalty License Fee Rate applicable to each Mortgage Loan.
   
(2) The Monthly Debt Service (P&I)($) and Annual Debt Service (P&I) ($) shown for Mortgage Loans with a partial interest-only period reflects the amount payable after the expiration of the interest-only period.
   
(3) The open period is inclusive of the Maturity Date or Anticipated Repayment Date.
   
(4) Underwritten NOI DSCR (x), Underwritten NCF DSCR (x), Whole Loan Underwritten NCF DSCR (x) and Total Debt Underwritten NCF DSCR (x) are calculated based on amortizing debt service payments (except for interest-only loans).
   
(5) Leased Occupancy (%) includes tenants that have signed leases, but are not yet in occupancy or may not be paying rent.
   
(6) The lease expirations shown are based on full lease terms; however, in some instances, the tenant may have the option to terminate its lease prior to the expiration date shown. In addition, in some instances, a tenant may have the right to assign its lease or sublease the leased premises and be released from its obligations under the lease. See “Description of the Mortgage Pool—Tenant Issues” in the Preliminary Prospectus for certain examples of the foregoing.
   
(7) If the purpose of the Mortgage Loan was to finance an acquisition of the Mortgaged Property, the field "Sources: Principal's New Cash Contribution ($)" reflects the cash investment by one or more of the equity owners in the borrower in connection with such acquisition. If the purpose of the Mortgage Loan was to refinance the Mortgaged Property, the field "Sources: Principal's New Cash Contribution ($)" reflects the cash contributed to the borrower by one or more of the equity owners at the time the Mortgage Loan was originated.
   
(8) Property Located Within a Qualified Opportunity Zone (Y/N) reflects Mortgaged Properties that are located in qualified opportunity zones ("QOZs") under Internal Revenue Code § 1400Z-2 - Notice 2018-48 and Notice 2019-42. According to the Internal Revenue Service, (1) a QOZ is an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment, and (2) localities qualify as QOZs if they have been nominated for that designation by a state, the District of Columbia, or a U.S. territory and that nomination has been certified by the Secretary of the Treasury via his or her delegation of authority to the Internal Revenue Service. No representation is made as to whether any Mortgaged Properties located in QOZs or the related borrowers are eligible for such preferential tax treatment or whether any qualifying investment has been made in a QOZ.

 

 

 

     
  MORTGAGE POOL CHARACTERISTICS
     
  Mortgage Pool Characteristics  
  Initial Pool Balance $737,970,000
  Number of Mortgage Loans 32
  Number of Mortgaged Properties 62
  Average Cut-off Date Balance $23,061,563
  Weighted Average Mortgage Rate 6.52577%
  Weighted Average Remaining Term to Maturity/ARD (months) 60
  Weighted Average Remaining Amortization Term (months) 360
  Weighted Average Cut-off Date LTV Ratio  55.9%
  Weighted Average Maturity Date/ARD LTV Ratio 55.9%
  Weighted Average UW NCF DSCR 1.71x
  Weighted Average Debt Yield on Underwritten NOI 11.7%
  % of Initial Pool Balance of Mortgage Loans that are Amortizing Balloon  0.7%
  % of Initial Pool Balance of Mortgage Loans that are Interest Only  99.3%
  % of Initial Pool Balance of Mortgaged Properties with Single Tenants  10.6%
  % of Initial Pool Balance of Mortgage Loans with Subordinate Debt  27.0%

 

 

 

 

  COLLATERAL OVERVIEW      
                 
  Mortgage Loans by Loan Seller              
  Mortgage Loan Seller Mortgage Loans  Mortgaged Properties Aggregate Cut-off Date Balance % of Initial Pool Balance      
  Citi Real Estate Funding Inc. 15 20 $317,095,000 43.0%      
  German American Capital Corporation 9 20 $208,925,000 28.3%      
  Goldman Sachs Mortgage Company 6 13 $91,950,000 12.5%      
  Citi Real Estate Funding Inc. / Goldman Sachs Mortgage Company 1 8 $73,500,000 10.0%      
  Goldman Sachs Mortgage Company / German American Capital Corporation 1 1 $46,500,000 6.3%      
  Total 32 62 $737,970,000 100.0%      
                 
  Top 10 Mortgage Loans              
  Top 10 Mortgage Loans Mortgage Loan Seller Cut-off Date Balance ($) % of Initial Pool Balance Cut-off Date LTV  UW NOI DY UW NCF DSCR (x) General Property Type
  BioMed 2024 Portfolio 2 CREFI, GSMC $73,500,000 9.96% 50.1% 13.1% 2.34 Various
  Hyatt Centric Hotel & Shops Waikiki Beach CREFI $69,000,000 9.3% 51.0% 14.5% 1.72 Mixed Use
  Culver Collection GACC $66,000,000 8.9% 50.0% 12.2% 1.78 Various
  Bronx Terminal Market GACC $60,000,000 8.1% 43.2% 11.9% 2.18 Retail
  Moffett Towers Building D GSMC, GACC $46,500,000 6.3% 48.3% 13.2% 1.83 Office
  Culver Steps GACC $41,250,000 5.6% 57.7% 11.4% 1.66 Mixed Use
  2767-2777 Atlantic Avenue CREFI $30,000,000 4.1% 67.9% 8.5% 1.32 Multifamily
  AAA Stow-A-Way Storage Portfolio CREFI $28,500,000 3.9% 63.1% 11.0% 1.51 Self Storage
  1000 Lorimer CREFI $28,300,000 3.8% 63.3% 9.3% 1.30 Multifamily
  The Grove Apartments CREFI $25,750,000 3.5% 56.7% 10.0% 1.46 Multifamily
                 
  Property Types              
  Property Type / Detail Number of Mortgaged Properties Aggregate Cut-off Date Balance ($) % of Initial Pool Balance        
  Mixed Use 12 $207,414,079 28.1%        
  Lab/Office 7          71,469,079 9.7        
  Hospitality/Retail 1          69,000,000 9.3        
  Office/Retail 1          41,250,000 5.6        
  Multifamily/Retail 1            6,595,000 0.9        
  Retail/Office 1            8,100,000 1.1        
  Multifamily/Retail 1            6,595,000 0.9        
  Multifamily 14 $193,875,000 26.3%        
  Mid Rise 8        123,925,000 16.8        
  Garden 3          45,250,000 6.1        
  Low Rise 3          24,700,000 3.3        
  Office 9 $151,022,613 20.5%        
  CBD 6          80,522,613 10.9        
  Suburban 3          70,500,000 9.6        
  Retail 2 $76,000,000 10.3%        
  Anchored 1          60,000,000 8.1        
  Super Regional Mall 1          16,000,000 2.2        
  Self Storage 12 $57,900,000 7.8%        
  Hospitality 2 $29,500,000 4.0%        
  Full Service 1          19,500,000 2.6        
  Extended Stay 1          10,000,000 1.4        
  Industrial 4 $10,750,000 1.5%        
  Warehouse 3            5,750,000 0.8        
  Printing Press 1            5,000,000 0.7        
  Other 2 $6,508,308 0.9%        
  Parking Garage 2            6,508,308 0.9        
  Manufactured Housing 5 $5,000,000 0.7%        
  Total 62 $737,970,000 100.0%        
                 
  Geographic Distribution              
  Property Location Number of Mortgaged Properties Aggregate Cut-off Date Balance ($) % of Initial Pool Balance        
  California 14 $202,202,000 27.4%        
  New York 10        195,695,000 26.5        
  Hawaii 1          69,000,000 9.3        
  Pennsylvania 7          43,545,380 5.9        
  Massachusetts 4          41,748,000 5.7        
  Illinois 4          34,906,435 4.7        
  North Carolina 2          29,500,000 4.0        
  Kentucky 2          27,235,963 3.7        
  Utah 2          24,000,000 3.3        
  Texas 1          16,000,000 2.2        
  Tennessee 1          13,800,000 1.9        
  Arizona 1            8,100,000 1.1        
  Alabama 2            7,250,000 1.0        
  Connecticut 1            5,997,598 0.8        
  North Dakota 3            5,750,000 0.8        
  South Carolina 5            5,000,000 0.7        
  Vermont 1            4,286,962 0.6        
  Virginia 1            3,952,662 0.5        
  Total 62 $737,970,000 100.0%        
                 
  Distribution of Amortization Types              
  Amortization Type Number of Mortgage Loans Cut-off Date Balance ($) % of Initial Pool Balance        
  Interest Only 31 $732,970,000 99.3%        
  Amortizing Balloon 1 5,000,000 0.7%        
  Total 32 $737,970,000 100.0%