$ 4,633,373

2,552,020

1,525,605

2,447,508

1,425,243

LIBOR

4.33%

2.30%

First Mortgages:

1,248,549

797,154

1,202,611

757,684

6.60%

6.90%

First Mortgages held for sale:

122,833

143,901

128,593

144,163

5.90%

5.70%

Retail, Chandler, AZ | First Mortgages:

1,000

742

one-month Citibank LIBOR

1.25%

Multi-family, Anaheim, CA | First Mortgages:

25,600

21,170

one-month Citibank LIBOR

1.00%

Multi-family, Cupertino, CA | First Mortgages:

20,000

19,159

one-month Citibank LIBOR

1.15%

Retail, Escondido, CA | First Mortgages:

9,079

8,060

one-month Citibank LIBOR

1.30%

Mixed Use, Irvine, CA | First Mortgages:

2,291

2,247

5.48%

Hospitality, Laguna Beach, CA | First Mortgages:

18,000

17,966

9.00%

Industrial, Orange, CA | First Mortgages:

1,285

1,289

9.75%

Multi-family, Redding, CA | First Mortgages:

4,400

4,157

3.85%

Office, Sacramento, CA - 1 | First Mortgages:

2,313

2,293

six-month Citibank LIBOR

3.50%

Office, Sacramento, CA - 1 | First Mortgages held for sale:

10,638

10,595

Office, Sacramento, CA - 2 | First Mortgages:

46,250

43,258

one-month Citibank LIBOR

3.50%

Retail, San Bernardino, CA | First Mortgages:

1,256

1,263

10.13%

Office, San Francisco, CA | First Mortgages:

17,500

14,539

three-month LIBOR

3.50%

Multi-family, Southgate, CA | First Mortgages:

8,925

8,309

one-month Citibank LIBOR

4.50%

Hospitality, Walnut Creek, CA | First Mortgages:

20,547

20,555

15.00%

Retail, Aspen, CO | First Mortgages:

8,000

5,690

one-month Citibank LIBOR

1.00%

Retail, Fort Meyers, FL | First Mortgages:

5,636

5,703

5.93%

Industrial, Jacksonville, FL - 1 | First Mortgages:

4,866

4,253

7.80%

Industrial, Jacksonville, FL - 2 | First Mortgages:

9,905

7,280

8.18%

Industrial, Jacksonville, FL - 3 | First Mortgages:

4,996

2,673

8.18%

Industrial, Ocala, FL | First Mortgages:

12,159

12,152

9.83%

Industrial, Orlando, FL - 1 | First Mortgages:

4,932

4,311

7.80%

Industrial, Orlando, FL - 2 | First Mortgages:

10,039

7,379

8.18%

Industrial, Orlando, FL - 3 | First Mortgages:

5,063

2,709

8.18%

Retail, Spring Hill, FL | First Mortgages:

3,690

3,684

9.75%

Office, Tampa, FL | First Mortgages:

17,000

16,926

one-month LIBOR

5.00%

Office, Tampa, FL | First Mortgages: | LIBOR floor

2.00%

Retail, Various, FL | First Mortgages:

5,085

4,973

one-month Citibank LIBOR

2.00%

Hospitality, New Orleans, LA - 1 | First Mortgages:

1,476

1,476

11.00%

Hospitality, New Orleans, LA - 2 | First Mortgages:

65,108

62,739

11.00%

Mixed Use, Baltimore, MD | First Mortgages:

54,827

53,288

5.25%

Retail, Greenville, MI | First Mortgages:

1,507

1,504

10.25%

Retail, Ionia, MI | First Mortgages:

1,886

1,883

10.00%

Office, Minnetonka, MN - 1 | First Mortgages:

22,849

22,950

7.68%

Office, Minnetonka, MN - 2 | First Mortgages:

4,784

4,805

7.69%

Office, Minnetonka, MN - 3 | First Mortgages:

22,828

22,930

8.10%

Office, Minnetonka, MN - 4 | First Mortgages:

4,784

4,805

7.69%

Multi-family, Robbinsdale, MN | First Mortgages:

1,612

1,613

9.50%

Office, St. Louis Park, MN | First Mortgages:

1,985

1,996

10.50%

Retail, Glendale, USA | First Mortgages:

8,686

7,617

one-month Citibank LIBOR

2.00%

Hospitality, Various, USA - 1 | First Mortgages:

13,000

13,264

10.00%

Hospitality, Various, USA - 2 | First Mortgages:

73,722

74,124

9.50%

Hospitality, Various, USA - 3 | First Mortgages:

185,000

182,509

5.38%

Hospitality, Various, USA - 3 | First Mortgages: | LIBOR floor

1.00%

Retail, Various USA - 3 | Subordinated Debt and Mezzanine:

25,901

8,083

8,049

11.81%

Retail, Various, USA - 1 | First Mortgages:

9,199

8,502

6.08%

Retail, High Point, NC | First Mortgages:

174,317

172,940

one-month LIBOR

6.00%

Retail, High Point, NC | First Mortgages: | LIBOR floor

1.00%

Retail, Devils Lake, ND | First Mortgages:

1,602

1,600

10.00%

Retail, Chester, NJ | First Mortgages:

15,300

15,206

7.75%

Hospitality, Newark, NJ | First Mortgages:

10,958

10,967

7.13%

Industrial, South Plainfield, NJ | First Mortgages:

146

146

9.75%

Retail, Las Vegas, NV | First Mortgages:

9,685

9,208

one-month Citibank LIBOR

1.65%

Multi-family, Reno, NV | First Mortgages:

4,500

3,745

six-month Citibank LIBOR

1.15%

Retail, East Hampton, NY - 1 | First Mortgages:

4,782

4,788

6.25%

Retail, East Hampton, NY - 2 | First Mortgages:

8,940

8,854

4.91%

Retail, Garden City, NY | First Mortgages:

2,844

2,819

5.74%

Hospitality, New York, NY - 1 | First Mortgages:

23,000

22,907

one-month LIBOR

5.75%

Hospitality, New York, NY - 2 | First Mortgages:

26,500

26,335

8.15%

Mixed Use, New York, NY - 1 | First Mortgages:

7,719

7,102

three-month Citibank LIBOR

1.55%

Mixed Use, New York, NY - 2 | First Mortgages:

5,200

5,121

6.40%

Office, New York, NY - 1 | First Mortgages:

30,722

26,957

5.24%

Office, New York, NY - 2 | First Mortgages:

26,415

23,178

5.10%

Retail, Baden, PA | First Mortgages:

4,000

3,938

10.00%

Retail, Pleasant Hills, PA | First Mortgages:

56,500

56,725

one-month LIBOR

4.50%

Retail, Mitchell, SD | First Mortgages:

1,646

1,643

10.00%

Retail, Oak Ridge, TN - 1 | First Mortgages:

1,628

1,631

10.00%

Retail, Oak Ridge, TN - 2 | First Mortgages:

563

564

9.25%

Office, Fort Worth, TX | First Mortgages:

28,231

28,370

7.45%

Retail, Various, TX | First Mortgages:

6,171

5,856

one-month Citibank LIBOR

1.25%

Other, Midvale, UT | First Mortgages:

11,436

11,202

5.71%

Hospitality, Roanoke, VA | First Mortgages:

4,845

4,499

5.63%

Multi-family, Washington DC, VA | First Mortgages:

34,520

34,194

one-month LIBOR

5.50%

Multi-family, Washington DC, VA | First Mortgages: | LIBOR floor

0.50%

Retail, Poulsbo, WA | First Mortgages:

3,310

3,372

6.10%

Mixed Use, Mobile, AL | Subordinated Debt and Mezzanine:

15,500

4,750

4,773

12.02%

Industrial, Montgomery, AL - 1 | Subordinated Debt and Mezzanine:

8,765

18,050

13,999

8.18%

Industrial, Montgomery, AL - 2 | Subordinated Debt and Mezzanine:

4,552

2,725

8.18%

Office, Century City, CA | Subordinated Debt and Mezzanine:

112,212

77,852

78,416

7.30%

Mixed Use, San Francisco, CA - 1 | Subordinated Debt and Mezzanine:

42,500

6,500

6,404

one-month LIBOR

2.75%

Mixed Use, San Francisco, CA - 2 | Subordinated Debt and Mezzanine:

13,500

13,305

one-month LIBOR

16.64%

Hospitality, Estes Park, CO - 1 | Subordinated Debt and Mezzanine:

10,294

4,270

4,254

17.45%

Industrial, Opa Locka, FL - 1 | Subordinated Debt and Mezzanine:

3,134

530

285

8.18%

Industrial, Fitzgerald, GA | Subordinated Debt and Mezzanine:

9,185

1,553

831

8.18%

Retail, Orlando Park, IL - 1 | Subordinated Debt and Mezzanine:

13,292

13,193

5.00%

Retail, Orlando Park, IL - 2 | Subordinated Debt and Mezzanine:

2,467

2,449

24.16%

Office, Chicago, IL - 1 | Subordinated Debt and Mezzanine:

37,340

37,123

5.00%

Office, Chicago, IL - 2 | Subordinated Debt and Mezzanine:

21,660

21,534

13.17%

Hospitality, UK, International | Subordinated Debt and Mezzanine:

1,158,975

143,889

128,831

three-month LIBOR

2.24%

Industrial, West Hammond, LA - 1 | Subordinated Debt and Mezzanine:

10,576

21,778

16,889

8.18%

Industrial, West Hammond, LA - 2 | Subordinated Debt and Mezzanine:

5,492

3,287

8.18%

Office, New York, NY - 3 | Subordinated Debt and Mezzanine:

256,287

11,400

9,953

7.19%

Industrial, Opa Locka, FL - 2 | Subordinated Debt and Mezzanine:

8,427

17,354

13,459

8.18%

Industrial, Opa Locka, FL - 2 | Subordinated Debt and Mezzanine:

4,377

2,620

8.18%

Retail, Columbus, OH | Subordinated Debt and Mezzanine:

320,000

85,000

71,039

6.97%

Retail, Various, USA - 2 | Subordinated Debt and Mezzanine:

100,000

42,200

42,111

14.28%

Office, Chicago, Il 3 | Subordinated Debt and Mezzanine:

49,000

16,000

15,944

one-month LIBOR

9.00%

Office, Chicago, Il 3 | Subordinated Debt and Mezzanine: | LIBOR floor

1.00%

Industrial, Los Angeles, CA | Subordinated Debt and Mezzanine:

34,500

10,453

10,453

12.00%

Hospitality, Mammoth Lakes, CA | Subordinated Debt and Mezzanine:

192,000

35,000

35,099

13.25%

Hospitality, San Diego, CA | Subordinated Debt and Mezzanine:

17,500

6,500

6,500

12.66%

Hospitality, Estes Park, CO - 2 | Subordinated Debt and Mezzanine:

7,695

7,676

14.00%

Office, Chicago, IL - 4 | Subordinated Debt and Mezzanine:

28,000

5,000

4,948

11.00%

Retail, Europe, International | Subordinated Debt and Mezzanine:

568,632

57,041

56,018

12.00%

Hospitality, Various, USA - 4 | Subordinated Debt and Mezzanine:

100,000

92,000

92,886

11.26%

Hospitality, Various, USA - 5 | Subordinated Debt and Mezzanine:

817,536

137,650

128,760

one-month LIBOR

7.00%

Hospitality, Various, USA - 5 | Subordinated Debt and Mezzanine: | LIBOR floor

0.50%

Hospitality, Various, USA - 6 | First Mortgages:

one-month LIBOR

Hospitality, Various, USA - 6 | Subordinated Debt and Mezzanine:

75,000

70,000

70,406

11.87%

Hospitality, New York, NY 3 | Subordinated Debt and Mezzanine:

55,000

15,000

14,052

10.00%

Office, Nashville, TN | Subordinated Debt and Mezzanine:

15,000

2,908

2,908

12.00%

Office, Rosslyn, VA | Subordinated Debt and Mezzanine:

567,675

169,201

164,717

one-month LIBOR

2.40%

Hospitality, Seattle, WA | Subordinated Debt and Mezzanine:

31,774

10,300

10,407

11.00%

Mixed Use, Napa, CA | First Mortgages held for sale:

8,723

9,408

6.40%

Office, Sacramento, CA 3 | First Mortgages held for sale:

5.77%

Retail, San Francisco, CA | First Mortgages held for sale:

18,406

18,829

5.48%

Retail, Various, USA - 4 | First Mortgages held for sale:

17,931

19,043

6.03%

Retail, Various, USA - 5 | First Mortgages held for sale:

21,635

22,533

5.65%

Multi-family, Richmond, VA | First Mortgages held for sale:

45,500

$ 48,185