Prior

Face

Carrying

Payment

Maturity

Principal Amount of

Description/ Location

Liens (1)

Amount

Interest Rate (2)

Terms (3)

Date (4)

Delinquent Loans

Individually Significant First Mortgages: (5)

Mixed Use, Birmingham, United Kingdom

—

341,688

338,426

3GBP+4.35%

I/O

1/11/2024

—

Aggregated First Mortgages: (5)

Hotel, International, Floating (3 mortgages)

N/A

63,889

3EU+4.90%

N/A

2022

—

Hotel, International, Floating (4 mortgages)

N/A

36,214

L+3.00% to 9.00%

N/A

2021

—

Hotel, Mid Atlantic, Floating (5 mortgages)

N/A

111,442

L+2.00% to 6.80%

N/A

2022

—

Hotel, Midwest, Floating (4 mortgages)

N/A

53,482

L+2.25% to 8.63%

N/A

2021

—

Hotel, North East, Floating (5 mortgages)

N/A

333,438

L+2.25% to 12.00%

N/A

2021-2023

—

Hotel, South East, Floating (4 mortgages)

N/A

61,836

L+2.40% to 7.40%

N/A

2022

—

Hotel, South West, Floating (8 mortgages)

N/A

173,995

L+2.00% to 7.67%

N/A

2023

—

Hotel, Various, Fixed (2 mortgages)

N/A

45,668

10.50%

2023

—

Hotel, Various, Floating (7 mortgages)

N/A

410,530

L+2.00% to 10.50%

2021-2023

—

Hotel, West, Floating (17 mortgages)

N/A

422,293

L+2.00% to 9.50%

N/A

2021-2024

—

Industrial, International, Floating (3 mortgages)

N/A

78,438

3EU+2.25% to 4.65%

N/A

2023

—

Industrial, International, Floating (2 mortgages)

N/A

47,904

3GBP+2.15% to 4.65%

N/A

2023

—

Industrial, South East, Fixed (4 mortgages)

N/A

36,097

8.18%

N/A

2024

—

Industrial, Various, Floating (4 mortgages)

N/A

129,212

L+2.25% to 7.25%

N/A

2023

—

Mixed Use, International, Fixed (2 mortgages)

N/A

41,671

8.50% to 10.00%

N/A

2021

—

Mixed Use, International, Floating (2 mortgages)

N/A

111,444

3EU+4.85%

N/A

2023

—

Mixed Use, International, Floating (1 mortgage)

N/A

177,535

GBP+3.15%

N/A

2021

—

Mixed Use, Mid Atlantic, Floating (1 mortgage)

N/A

41,250

L+3.15%

N/A

2024

—

Mixed Use, South West, Floating (13 mortgages)

N/A

291,401

L+2.50% to 10.00%

N/A

2022-2023

—

Multi-family, International, Fixed (1 mortgage)

N/A

113,650

8.00%

N/A

2021

—

Multi-family, International, Floating (5 mortgages)

N/A

546,878

3GBP+2.66% to 4.50%

N/A

2021-2024

—

Multi-family, Midwest, Fixed (1 mortgage)

N/A

1,008

6.28%

N/A

2024

—

Multi-family, Mid Atlantic, Floating (4 mortgages)

N/A

91,972

L+1.75% to 5.75%

N/A

2023

—

Multi-family, North East, Floating (8 mortgages)

N/A

266,397

L+1.85% to 6.45%

N/A

2021

—

Multi-family, South East, Floating (1 mortgage)

N/A

39,601

L+4.25%

N/A

2024

—

Multi-family, South West, Floating (13 mortgages)

N/A

159,992

L+2.50% to 3.00%

N/A

2021-2023

—

Multi-family, West, Floating (3 mortgages)

N/A

101,473

L+3.75%

N/A

2023

—

Office, International, Fixed (1 mortgage)

N/A

247,151

5.35%

N/A

2021

—

Office, International, Floating (4 mortgages)

N/A

389,472

3GBP+3.50% to 4.25%

N/A

2023

—

Office, International, Floating (2 mortgages)

N/A

84,497

EUR+6.00% to 7.80%

N/A

2021-2022

—

Office, Mid Atlantic, Floating (26 mortgages)

N/A

659,581

L+1.75% to 7.50%

N/A

2021-2023

—

Office, Midwest, Floating (7 mortgages)

N/A

136,479

L+1.75% to 9.75%

N/A

2021

—

Office, North East, Floating (16 mortgages)

N/A

608,148

L+2.80% to 12.00%

N/A

2021-2023

—

Office, South East, Fixed (2 mortgages)

N/A

52,006

5.00% to 12.00%

N/A

2024

—

Office, South East, Floating (4 mortgages)

N/A

46,391

L+2.00% to 8.25%

N/A

2021

—

Office, South West, Floating (11 mortgages)

N/A

280,297

L+2.00% to 8.55%

N/A

2021-2023

—

Office, West, Floating (41 mortgages)

N/A

908,109

L+1.25% to 7.00%

N/A

2021-2023

—

Other, Midwest, Floating (4 mortgages)

N/A

59,927

L+4.50% to 11.17%

N/A

2021

—

Other, North East, Floating (4 mortgages)

N/A

32,539

L+3.75% to 10.63%

N/A

2022

—

Other, Various, Fixed (1 mortgage)

N/A

40,158

10.00%

N/A

2025

—

Other, Various, Floating (1 mortgage)

N/A

62,638

3M L+4.00%

N/A

2024

—

Other, West, Floating (8 mortgages)

N/A

60,781

L+3.75% to 9.25%

N/A

2021

—

Residential, International, Floating (1 mortgage)

N/A

5,700

3GBP+13.00%

N/A

2021

—

Residential, North East, Floating (10 mortgages)

N/A

602,945

L+2.50% to 8.60%

N/A

2020-2022

30,874

Residential, South East, Floating (3 mortgages)

N/A

57,467

L+3.10% to 9.12%

N/A

2022-2023

—

Residential, West, Floating (2 mortgages)

N/A

16,727

L+2.75% to 8.75%

N/A

2021

—

Residential, Various, Fixed (177 mortgages)

N/A

90,684

3.38% to 9.00%

N/A

2030-2049

8,946

Retail, Midwest, Floating (4 mortgages)

N/A

40,749

L+2.75% to 10.75%

N/A

2021

—

Retail, North East, Floating (1 mortgage)

N/A

184,135

L+7.25%

N/A

2021

184,135

Retail, South West, Floating (8 mortgages)

N/A

25,625

L+2.25% to 15.25%

N/A

2021

—

Retail, West, Fixed (1 mortgage)

N/A

366

7.26%

N/A

2023

—

Loans Held-for-Sale, Various, Fixed

N/A

932,295

3.25% to 9.50%

N/A

2028-2060

9,841

Aggregated Subordinated and Mezzanine Loans: (5)

Hotel, South East, Floating (3 mortgages)

N/A

83,424

L+6.75% to 7.04%

N/A

2021-2022

—

Industrial, South East, Fixed (1 mortgage)

N/A

2,668

8.18%

N/A

2024

—

Industrial, South East, Floating (1 mortgage)

N/A

16,029

L+10.15%

N/A

2024

—

Mixed Use, International, Floating (1 mortgage)

N/A

39,865

3EU+7.25%

N/A

2022

—

Mixed Use, South East, Floating (2 mortgages)

N/A

36,581

L+5.50% to 10.25%

N/A

2021

—

Mixed Use, South West, Floating (1 mortgage)

N/A

96,141

L+11.85%

N/A

2021

—

Multi-family, Mid Atlantic, Floating (1 mortgage)

N/A

32,934

L+9.75%

N/A

2022

—

Multi-family, North East, Floating (4 mortgages)

N/A

122,636

L+4.50% to 9.25%

N/A

2021-2023

—

Office, International, Floating (4 mortgages)

N/A

68,298

3EU+7.00% to 8.95%

N/A

2024-2025

—

Office, North East, Fixed (2 mortgages)

N/A

35,022

8.72%

N/A

2023

—

Prior

Face

Carrying

Payment

Maturity

Principal Amount of

Description/ Location

Liens (1)

Amount

Interest Rate (2)

Terms (3)

Date (4)

Delinquent Loans

Office, West, Floating (4 mortgages)

N/A

85,129

L+6.24% to 6.67%

N/A

2022-2024

—

Other, West, Floating (2 mortgages)

N/A

60,807

L+11.00%

N/A

2021

—

Retail, Midwest, Fixed (2 mortgages)

N/A

11,977

7.16%

N/A

2024

11,977

Loan Loss Allowance

—

(61,855)

—

Prepaid Loan Costs, Net

—

2,741

—

10,584,400

(6)

245,773

Notes to Schedule IV:

(1)	Represents third party priority liens. Third party portions of pari-passu participations are not considered prior liens. Additionally, excludes the outstanding debt on third party joint ventures of underlying borrowers.

(2)	L = one month LIBOR rate, 3M L = three month LIBOR rate, GBP = one month GBP LIBOR rate, 3GBP = three month GBP LIBOR rate, 3EU = three month EURO LIBOR rate.

(3)	I/O = interest only until maturity.

(4)	Based on management’s judgment of extension options being exercised.

(5)	First mortgages include first mortgage loans and any contiguous mezzanine loan components because as a whole, the expected credit quality of these loans is more similar to that of a first mortgage loan.

(6)	The aggregate cost for federal income tax purposes is $10.7 billion.

The following schedule presents activity within our Commercial and Residential Lending Segment and Investing and Servicing Segment loan portfolios during the years ended December 31, 2020, 2019 and 2018 (amounts in thousands):


	For the year ended December 31,
	2020		2019		2018
Balance at January 1	$	9,890,693	$	7,806,699	$	7,357,034
Cumulative effect of ASC 326 effective January 1, 2020		(10,112)		—		—
Acquisitions/originations/additional funding		5,058,705		8,174,321		6,543,873
Capitalized interest		143,023		109,978		62,445
Basis of loans sold		(3,246,515)		(3,921,171)		(3,082,347)
Loan maturities/principal repayments		(1,590,379)		(2,387,843)		(3,086,107)
Discount accretion/premium amortization		38,942		29,775		37,408
Changes in fair value		133,124		71,601		40,522
Unrealized foreign currency translation gain (loss)		102,748		38,050		(26,645)
Credit loss provision, net		(40,955)		(2,616)		(34,821)
Loan foreclosures and other transfers		(71,488)		(27,303)		—
Transfer to/from other asset classifications		176,614		(798)		(4,663)
Balance at December 31	$	10,584,400	$	9,890,693	$	7,806,699

Refer to Note 16 to the Consolidated Financial Statements for a discussion of loan activity with related parties.