Face Amount

$ 5,988,254

$ 6,335,023

$ 5,946,274

$ 6,263,517

Principal Amount of Delinquent Loans

5.50%

$ 209,160

Aggregate cost for federal income tax purposes

5,900,000

Aggregated Subordinated and Mezzanine Loans

Office, New York City, NY - 1 | Individually Significant First Mortgages

Loan loss allowance

(9,788)

Prepaid Loan Costs, Net

(2,698)

Face Amount

150,000

Office, New York City, NY - 1 | Individually Significant First Mortgages | 1-month LIBOR

$ 149,275

Office, New York City, NY - 2 | Individually Significant First Mortgages

1.70%

Face Amount

$ 100,000

Office, New York City, NY - 2 | Individually Significant First Mortgages | 1-month LIBOR

$ 99,523

Hospitality , Midwest , Floating | Aggregated First Mortgages

3.40%

$ 48,773

Hospitality , Midwest , Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Hospitality , Midwest , Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

2.75%

Hospitality , Midwest , Floating | Aggregated Subordinated and Mezzanine Loans

9.13%

$ 16,653

Hospitality , Midwest , Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR

Hospitality, North East, Floating | Aggregated First Mortgages

8.11%

$ 44,879

Hospitality, North East, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Hospitality, North East, Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

4.00%

Hospitality, South East, Floating | Aggregated First Mortgages

5.40%

Number of loans | property

$ 79,887

Hospitality, South East, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Hospitality, South East, Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

2.75%

Hospitality, South East, Floating | Aggregated Subordinated and Mezzanine Loans

11.15%

$ 57,012

Hospitality, South East, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR | Minimum

Hospitality, South East, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR | Maximum

3.49%

Hospitality, Various, Floating | Aggregated First Mortgages

10.00%

$ 278,169

Hospitality, Various, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Hospitality, Various, Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

2.40%

Hospitality, Various, Floating | Aggregated Subordinated and Mezzanine Loans

9.90%

$ 152,201

Hospitality, Various, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR | Minimum

Hospitality, Various, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR | Maximum

7.50%

Hospitality, West, Floating | Aggregated First Mortgages

11.13%

$ 491,761

Hospitality, West, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Hospitality, West, Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

2.25%

Industrial, North East, Fixed | Aggregated First Mortgages

14.00%

$ 80

7.45%

Industrial, South East, Fixed | Aggregated First Mortgages

$ 28,298

7.80%

8.18%

Industrial, South East, Fixed | Aggregated Subordinated and Mezzanine Loans

$ 66,861

8.18%

Mixed Use, North East, Floating | 1-month LIBOR | Maximum

Mixed Use, North East, Floating | Aggregated First Mortgages

11.34%

Number of loans | property

$ 308,318

Mixed Use, North East, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Mixed Use, North East, Floating | Aggregated Subordinated and Mezzanine Loans

2.75%

$ 112,999

Mixed Use, North East, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR | Minimum

Mixed Use, North East, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR | Maximum

10.00%

Mixed Use, South East, Fixed | Aggregated First Mortgages

11.75%

$ 114,799

5.00%

12.00%

Mixed Use, South West, Floating | Aggregated First Mortgages

$ 218,023

Mixed Use, South West, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Mixed Use, South West, Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

2.25%

Mixed Use, West, Floating | Aggregated First Mortgages

10.00%

$ 105,774

Mixed Use, West, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Mixed Use, West, Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

1.00%

Mixed Use, International, Floating | Aggregated First Mortgages

7.50%

$ 17,684

Mixed Use, International, Floating | Aggregated First Mortgages | 1-month GBP LIBOR

Multi Family, Midwest, Fixed | Aggregated First Mortgages

5.75%

$ 1,401

6.54%

Multi-Family, North East, Floating | Aggregated First Mortgages

Principal Amount of Delinquent Loans

$ 403,080

$ 209,160

Multi-Family, North East, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Multi-Family, North East, Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

2.50%

Multi-Family, North East, Floating | Aggregated Subordinated and Mezzanine Loans

15.00%

$ 14,483

Multi-Family, North East, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR

Multi Family, South East, Fixed | Aggregated First Mortgages

8.35%

$ 2,053

6.28%

Multi Family, South East, Fixed | Aggregated Subordinated and Mezzanine Loans

$ 2,834

5.47%

Multi Family, South East, Fixed | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR

Multi-Family, West, Floating | Aggregated First Mortgages

9.08%

$ 137,991

Multi-Family, West, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Multi-Family, West, Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

1.15%

Multi-Family, West, Floating | Aggregated Subordinated and Mezzanine Loans

9.25%

$ 100,147

Multi-Family, West, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR

Multi-family, International, Fixed | Aggregated First Mortgages

10.13%

$ 18,431

8.55%

Multi-family, International, Floating | Aggregated First Mortgages

$ 86,384

Multi-family, International, Floating | Aggregated First Mortgages | 1-month GBP LIBOR

Multi-family, International, Floating 2 | Aggregated First Mortgages

7.65%

$ 101,013

Multi-family, International, Floating 2 | Aggregated First Mortgages | 3-month LIBOR GBP

Office, Mid Atlantic, Fixed | Aggregated First Mortgages

7.00%

$ 46,514

5.25%

Office, Mid Atlantic, Floating | Aggregated First Mortgages

$ 119,656

Office, Mid Atlantic, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Office, Mid Atlantic, Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

2.25%

Office, Midwest, Floating | Aggregated First Mortgages

11.25%

$ 161,046

Office, Midwest, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Office, Midwest, Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

2.25%

Office, Midwest, Floating | Aggregated Subordinated and Mezzanine Loans

10.58%

$ 60,455

Office, Midwest, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR | Minimum

Office, Midwest, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR | Maximum

8.25%

Office, North East, Fixed | Aggregated First Mortgages

9.00%

$ 62,338

6.35%

11.00%

Office, North East, Fixed | Aggregated Subordinated and Mezzanine Loans

$ 56,707

6.79%

8.72%

Office, North East, Floating | Aggregated First Mortgages

$ 833,384

Office, North East, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Office, North East, Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

2.00%

Office, North East, Floating | Aggregated Subordinated and Mezzanine Loans

12.00%

$ 68,083

Office, North East, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR | Minimum

Office, North East, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR | Maximum

8.00%

Office , South East , Floating | Aggregated First Mortgages

10.25%

$ 91,461

Office , South East , Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Office , South East , Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

2.25%

Office , South East , Floating | Aggregated Subordinated and Mezzanine Loans

8.05%

$ 26,875

Office , South East , Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR

Office, South West, Floating | Aggregated First Mortgages

9.50%

$ 135,796

Office, South West, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Office, South West, Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

2.25%

Office, West, Floating | Aggregated First Mortgages

10.70%

$ 145,466

Office, West, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Office, West, Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

2.25%

Office, West, Floating | Aggregated Subordinated and Mezzanine Loans

9.75%

$ 38,249

Office, West, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR | Minimum

Other, South East, Floating | Aggregated First Mortgages

7.34%

$ 59,164

Other, South East, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Other, South East, Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

2.75%

Other, Various, Fixed | Aggregated First Mortgages

12.75%

$ 41,632

10.00%

Other, International, Floating | Aggregated First Mortgages

$ 173,621

Other, International, Floating | Aggregated First Mortgages | 3-month LIBOR GBP | Minimum

Residential, West, Floating | Aggregated First Mortgages

4.85%

$ 66,243

Residential, West, Floating | Aggregated First Mortgages | 1-month LIBOR

Residential, West, Floating | Aggregated Subordinated and Mezzanine Loans

5.25%

$ 44,142

Residential, West, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR

Retail , Mid Atlantic , Fixed | Aggregated First Mortgages

7.89%

$ 497

7.07%

Retail, Midwest, Fixed | Aggregated First Mortgages

$ 121

10.25%

Retail, Midwest, Fixed | Aggregated Subordinated and Mezzanine Loans

$ 11,977

7.16%

Retail , Midwest ,Floating | Aggregated First Mortgages

$ 32,415

Retail , Midwest ,Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Retail , Midwest ,Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

2.75%

Retail , Midwest ,Floating | Aggregated Subordinated and Mezzanine Loans

10.75%

$ 8,289

Retail , Midwest ,Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR

Retail, North East, Fixed | Aggregated First Mortgages

8.85%

$ 3,080

5.74%

7.07%

Retail, North East, Floating | Aggregated First Mortgages

$ 64,913

Retail, North East, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Retail, North East, Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

2.25%

Retail, South East, Fixed | Aggregated First Mortgages

8.05%

$ 18,531

6.64%

10.00%

Retail, South West, Fixed | Aggregated First Mortgages

$ 3,070

6.03%

8.04%

Retail, South West, Floating | Aggregated First Mortgages

$ 52,311

Retail, South West, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Retail, South West, Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

2.25%

Retail, South West, Floating | Aggregated Subordinated and Mezzanine Loans

15.25%

$ 4,600

Retail, South West, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month GBP LIBOR

Retail, Various, Floating | Aggregated First Mortgages

8.85%

$ 11,167

Retail, Various, Floating | Aggregated First Mortgages | 1-month LIBOR | Minimum

Retail, Various, Floating | Aggregated First Mortgages | 1-month LIBOR | Maximum

2.25%

Retail, Various, Floating | Aggregated Subordinated and Mezzanine Loans

9.25%

$ 1,016

Retail, Various, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR

Retail, West, Fixed | Aggregated First Mortgages

8.85%

$ 10,639

5.82%

7.53%

Other, South East, Fixed | Aggregated Subordinated and Mezzanine Loans

$ 4,494

12.02%

Multi Family, Mid Atlantic, Fixed | Aggregated Subordinated and Mezzanine Loans

$ 2,977

10.50%

Multi-family, Mid Atlantic, Floating | Aggregated Subordinated and Mezzanine Loans

$ 9,856

Multi-family, South East, Floating | Aggregated Subordinated and Mezzanine Loans

$ 15,107

Multi-family, South East, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR

Office, South East, Fixed | Aggregated Subordinated and Mezzanine Loans

9.46%

$ 7,655

8.25%

Office, South West, Fixed | Aggregated Subordinated and Mezzanine Loans

$ 57,575

5.92%

6.13%

Other, Midwest, Floating | Aggregated Subordinated and Mezzanine Loans

$ 27,000

Other, Midwest, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR

Other, West, Floating | Aggregated Subordinated and Mezzanine Loans

10.67%

$ 58,573

Other, West, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR | Minimum

Other, West, Floating | Aggregated Subordinated and Mezzanine Loans | 1-month LIBOR | Maximum

6.10%

Loans Held-for-Sale, Various, Fixed | Aggregated First Mortgages

10.08%

$ 63,279

5.12%