FWP 1 n3096_x11-anxa.htm FREE WRITING PROSPECTUS

		FREE WRITING PROSPECTUS
		FILED PURSUANT TO RULE 433
		REGISTRATION FILE NO.: 333-262701-02

FREE WRITING PROSPECTUS, DATED May [31], 2022

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, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, BMO Capital Markets Corp., Academy Securities, Inc., Seibert Williams Shank & Co, 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in this File supersedes any contrary information contained in any prior File relating to the certificates and will be superseded by any contrary information contained in any subsequent File prior to the time of sale.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 servicers, the trustee, the certificate administrator, the operating advisor, the asset representations reviewer, the controlling class representative, the 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.

CGCMT 2022-GC48

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 (%)

Loan

8, 10, 11, 12, 13, 14, 15, 16, 17

Yorkshire & Lexington Towers

9.5%

BMO, SMC, CREFI

NAP

Various

New York

Various

Multifamily

High Rise

Various

808

Units

393,564.36

60,000,000

3.04000%

0.01775%

3.02225%

NAP

154,111.11

NAP

1,849,333.32

Interest Only

Actual/360

5/12/2022

7/6/2022

NAP

6/6/2027

NAP

L(24),D(31),O(5)

40,995,144

15,672,705

25,322,439

2/28/2022

T-12

39,766,160

15,511,878

24,254,281

12/31/2021

T-12

40,128,052

14,510,102

25,617,949

12/31/2020

T-12

97.2%

51,394,888

16,019,126

35,375,762

3.61

11.1%

954,000,000

As Is

1/20/2022

33.3%

96.4%

5,390,917

898,486

367,868

Springing

1,100,000

1,000,000

12,400,000

Springing

Unit Upgrade Reserve (Upfront: $6,500,000), Supplemental Income Reserve (Upfront: $5,900,000; Future Quarterly: Springing)

NAP

Hard (Commercial); Soft (Multifamily)

In Place

Yes

60,000,000

258,000,000

662,677.78

816,788.89

221,500,000

3.04000%

539,500,000

1,385,715.74

56.6%

2.13

6.6%

174,500,000

7.26626934143267%

714,000,000

2,457,027.92

74.8%

1.20

5.0%

NAP

Meyer Chetrit and The Gluck Family Trust U/A/D July 16, 2009

Yes

Refinance

318,000,000

396,000,000

714,000,000

545,268,671

93,214,219

20,258,785

55,258,325

714,000,000

NAP

1.01

Property

Yorkshire Towers

8.2%

86.1%

305 East 86th Street

New York

10028

Multifamily

High Rise

1964

2014, 2022

681

Units

51,635,220

NAV

821,000,000

As Is

1/20/2022

96.3%

3/1/2022

NAP

2/3/2022

NAP

1/19/2022

NAP

Fee

NAP

1.02

Property

Lexington Towers

1.3%

13.9%

160 East 88th Street

New York

10128

Multifamily

High Rise

1963

2014

127

Units

8,364,780

NAV

133,000,000

As Is

1/20/2022

96.9%

3/1/2022

NAP

1/19/2022

NAP

1/19/2022

NAP

Fee

NAP

Loan

18, 19

Cliffs Hotel and Spa

7.9%

100.0%

GSBI

GSMC

NAP

2757 Shell Beach Road

Pismo Beach

San Luis Obispo

California

93449

Hospitality

Full Service

1986

2009, 2011, 2022

162

Rooms

308,641.98

50,000,000

4.81500%

0.01775%

4.79725%

NAP

203,411.46

NAP

2,440,937.52

Interest Only

Actual/360

120

119

120

119

4/27/2022

6/6/2022

NAP

5/6/2032

NAP

L(23),YM1(90),O(7)

23,145,679

14,916,223

8,229,456

3/31/2022

T-12

22,210,867

14,054,730

8,156,136

12/31/2021

T-12

14,451,369

10,694,977

3,756,392

12/31/2020

T-12

79.1%

23,145,679

14,521,737

8,623,941

925,827

7,698,114

3.53

3.15

17.2%

15.4%

105,100,000

As Is

3/23/2022

47.6%

79.1%

3/31/2022

NAP

3/29/2022

NAP

4/7/2022

3/29/2022

10%

Fee

NAP

34,153

17,076

Springing

76,706

NAP

Springing

Yes

NAP

John G. King

Refinance

50,000,000

19,706,118

350,004

34,153

29,909,725

50,000,000

NAP

299.86

237.08

79.1%

299.86

237.08

79.1%

298.26

232.26

77.9%

226.85

155.08

68.4%

Loan

8, 20, 21, 22, 23

79 Fifth Avenue

7.9%

100.0%

CREFI, WFBNA, JPMCB

CREFI

NAP

79 Fifth Avenue

New York

10003

Office

CBD

1906

2016

345,751

694.14

50,000,000

4.92000%

0.01775%

4.90225%

NAP

207,847.22

NAP

2,494,166.64

Interest Only

Actual/360

120

119

120

119

4/29/2022

6/6/2022

NAP

5/6/2032

NAP

L(25),D(90),O(5)

26,934,139

8,571,958

18,362,181

12/31/2021

T-12

25,677,751

8,516,941

17,160,810

12/31/2020

T-12

25,370,674

8,285,155

17,085,519

12/31/2019

T-12

95.0%

29,320,118

9,216,627

20,103,491

78,388

693,116

19,331,988

1.68

1.61

8.4%

8.1%

395,000,000

As Is

2/24/2022

60.8%

100.0%

2/15/2022

The New School

212,800

61.5%

6/30/2030

CapGemini America, Inc.

64,500

18.7%

9/30/2037

Hulu LLC

40,106

11.6%

5/31/2025

Citibank, N.A.

14,872

4.3%

4/30/2028

Coach Inc

7,073

2.0%

1/31/2024

3/1/2022

NAP

3/4/2022

NAP

Fee

NAP

2,815,969

469,328

Springing

5,763

207,468

1,000,000

57,760

3,500,000

NAP

Hard

Springing

Yes

50,000,000

190,000,000

789,819.45

997,666.67

NAP

240,000,000

997,666.67

60.8%

1.61

8.4%

NAP

Albert Kalimian

Yes

Recapitalization

240,000,000

140,365,945

380,365,945

369,000,000

7,549,977

3,815,969

380,365,945

NAP

Loan

24, 25

Sunbelt Office Portfolio

6.8%

CREFI

NAP

Various

Office

Various

485,687

88.44

43,000,000

42,955,691

35,509,650

5.13000%

0.01775%

5.11225%

234,261.70

NAP

2,811,140.40

NAP

Amortizing Balloon

Actual/360

120

119

360

359

4/28/2022

6/6/2022

5/6/2032

NAP

L(25),D(91),O(4)

6,445,080

2,827,665

3,617,416

2/28/2022

T-12

6,618,782

2,894,259

3,724,523

12/31/2021

T-12

7,028,753

3,018,582

4,010,170

12/31/2020

T-12

81.0%

7,721,159

2,998,968

4,722,191

116,565

363,980

4,241,646

1.68

1.51

11.0%

9.9%

65,500,000

As Is

Various

65.6%

54.2%

79.3%

207,320

41,464

29,480

7,370

9,714

2,500,000

50,592

5,000,000

58,250

5,185,811

Outstanding Obligations Reserve (Upfront: $4,656,586.00), Free Rent Reserve (Upfront: $529,224.84)

NAP

Hard

Springing

Yes

NAP

Olymbec USA LLC

Refinance

43,000,000

25,136,650

562,037

7,980,861

9,320,452

43,000,000

NAP

4.01

Property

80 Monroe Avenue

3.5%

52.3%

80 Monroe Avenue

Memphis

Shelby

Tennessee

38103

Office

CBD

1923

1984

204,057

22,500,000

22,476,815

18,580,631

2,663,312

1,129,326

1,533,986

2/28/2022

T-12

2,699,343

1,153,114

1,546,230

12/31/2021

T-12

2,520,663

1,083,001

1,437,662

12/31/2020

T-12

92.4%

3,953,382

1,256,571

2,696,810

48,974

152,806

2,495,030

32,000,000

As Is

3/15/2022

91.3%

3/1/2022

GSA

89,089

43.7%

5/18/2031

Morgan & Morgan Memphis, LLC

18,085

8.9%

4/30/2031

Shelby County Government

12,277

6.0%

6/30/2023

Allen, Summers, Simpson, Lillie & Gresham, PPLC

11,064

5.4%

5/31/2027

Insight Discovery, LLC

8,479

4.2%

7/31/2024

4/15/2022

NAP

3/22/2022

17%

Fee / Leasehold

12/31/2024

None

NAP

4.02

Property

2400 Herodian Way

1.9%

27.9%

2400 Herodian Way

Smyrna

Cobb

Georgia

30080

Office

Suburban

1985

1992

152,208

12,000,000

11,987,635

9,909,670

2,215,697

941,073

1,274,625

2/28/2022

T-12

2,278,713

917,978

1,360,735

12/31/2021

T-12

2,502,134

999,522

1,502,612

12/31/2020

T-12

82.6%

2,324,754

964,568

1,360,186

36,530

114,313

1,209,343

17,000,000

As Is

3/16/2022

81.7%

3/2/2022

American Data Solutions

12,935

8.5%

1/31/2024

Construction Managers, Inc. of Goldsboro

12,022

7.9%

9/30/2027

Integrated Solutions for Systems, Inc.

9,273

6.1%

7/31/2024

Benchmark Rehabilitation Partners, LLC

7,326

4.8%

9/30/2023

Webber, LLC

6,599

4.3%

1/31/2025

4/15/2022

NAP

3/22/2022

NAP

Fee

NAP

4.03

Property

5720 LBJ Freeway

1.3%

19.8%

5720 LBJ Freeway

Dallas

Texas

75240

Office

Suburban

1981

2022

129,422

8,500,000

8,491,241

7,019,349

1,566,071

757,266

808,805

2/28/2022

T-12

1,640,725

823,167

817,558

12/31/2021

T-12

2,005,956

936,060

1,069,896

12/31/2020

T-12

59.9%

1,443,023

777,828

665,195

31,061

96,860

537,273

16,500,000

As Is

3/15/2022

57.5%

3/2/2022

Cinergy Entertainment Group, Inc.

8,567

6.6%

10/31/2023

The Law Office of Kelly T Curran PLLC

5,781

4.5%

1/31/2026

Pathways Youth and Family Services, Inc.

4,623

3.6%

9/30/2026

McGilberry and Shirer, LLP

4,587

3.5%

8/31/2025

SE2, LLC

4,000

3.1%

8/31/2022

4/15/2022

NAP

3/22/2022

NAP

Fee

NAP

Loan

Brighton Towne Square

6.3%

100.0%

SMC

NAP

7927 Nemco Way

Brighton

Livingston

Michigan

48116

Mixed Use

Office/Retail

1997

2018

247,031

161.92

40,000,000

5.90600%

0.01775%

5.88825%

NAP

199,600.93

NAP

2,395,211.11

Interest Only

Actual/360

120

5/23/2022

7/6/2022

NAP

6/6/2032

NAP

L(5),YM1(109),O(6)

4,961,771

1,054,007

3,907,764

3/31/2022

T-12

4,861,593

1,041,076

3,820,518

12/31/2021

T-12

4,825,752

999,137

3,826,615

12/31/2020

T-12

95.0%

4,985,983

1,056,424

3,929,559

49,406

185,273

3,694,880

1.64

1.54

9.8%

9.2%

65,400,000

As Is

4/14/2022

61.2%

97.8%

5/18/2022

Home Depot

111,892

45.3%

1/31/2028

UofM

41,500

16.8%

4/30/2025

Staples

27,610

11.2%

10/31/2032

CSIG

27,438

11.1%

7/16/2028

Party City

10,400

4.2%

2/28/2026

4/20/2022

NAP

4/20/2022

NAP

Fee

NAP

177,191

35,438

26,293

6,573

4,117

20,650

750,000

13,750

Springing

Major Tenant Renewal Reserve

NAP

Springing

Yes

NAP

Mark M. Murphy

Refinance

40,000,000

1,655,000

41,655,000

40,586,630

851,136

217,234

41,655,000

NAP

Loan

8, 26

2550 M Street

6.3%

100.0%

CREFI

NAP

2550 M Street Northwest

Washington

District of Columbia

20037

Office

CBD

1978

2015

207,081

419.16

40,000,000

4.60000%

0.01775%

4.58225%

NAP

155,462.96

NAP

1,865,555.52

Interest Only

Actual/360

120

118

120

118

3/31/2022

5/6/2022

NAP

4/6/2032

NAP

L(26),D(90),O(4)

15,887,754

5,451,197

10,436,557

12/31/2021

T-12

15,722,949

5,408,260

10,314,689

12/31/2020

T-12

15,469,038

5,933,743

9,535,295

12/31/2019

T-12

95.0%

15,195,761

7,565,364

7,630,397

55,912

7,574,486

1.88

1.87

8.8%

8.7%

132,500,000

As Is

10/27/2021

65.5%

100.0%

6/6/2022

Yes

Squire Patton Boggs (US) LLP

207,081

100.0%

4/30/2032

NAP

11/8/2021

NAP

11/19/2021

NAP

Leasehold

3/30/2121

None

1,700,000

Yes

248,086

Springing

4,580

5,150,000

145,104

Ground Rent Reserve

NAP

Springing

Yes

40,000,000

46,800,000

181,891.67

337,354.63

NAP

86,800,000

337,354.63

65.5%

1.87

8.8%

NAP

Jayaprasad Vejendla and Rohit Kumar

Acquisition

86,800,000

50,875,250

2,000,000

139,675,250

132,250,000

1,882,060

5,543,190

139,675,250

NAP

Loan

8, 27, 28, 29, 30

Bell Works

6.3%

100.0%

CREFI, BMO, BCREI

CREFI, BMO

NAP

101 Crawfords Corner Road

Holmdel

Monmouth

New Jersey

07733

Office

Suburban

1962, 1964, 1982

2017

1,371,470

153.12

40,000,000

5.11000%

0.01775%

5.09225%

NAP

172,699.07

NAP

2,072,388.84

Interest Only

Actual/360

120

119

120

119

4/8/2022

6/6/2022

NAP

5/6/2032

NAP

L(25),D(92),O(3)

31,757,320

16,577,630

15,179,689

2/28/2022

T-12

31,681,421

15,894,296

15,787,125

12/31/2021

T-12

25,039,832

13,482,223

11,557,609

12/31/2020

T-12

88.7%

37,490,628

17,715,360

19,775,267

295,000

1,219,032

18,261,235

1.82

1.68

9.4%

8.7%

335,200,000

As Is

1/31/2022

62.6%

90.5%

2/1/2022

iCIMS, Inc.

331,378

24.2%

11/30/2032

Guardian Life Insurance Company of America

91,319

6.7%

12/31/2032

WorkWave LLC

71,667

5.2%

5/27/2029

Jersey Central Power & Light Company

69,870

5.1%

12/31/2027

International Flavors & Fragrances, L.P.

60,104

4.4%

9/30/2033

2/14/2022

NAP

2/14/2022

NAP

Fee

NAP

617,834

308,917

Springing

24,583

8,500,000

Springing

8,500,000

6,778,984

Springing

Outstanding Obligations Reserve (Upfront: $6,778,984), Put Price Reserve (Monthly: Springing)

NAP

Hard

Springing

Yes

40,000,000

170,000,000

733,971.07

906,670.14

NAP

210,000,000

906,670.14

62.6%

1.68

9.4%

NAP

Ralph Zucker and Jozef Straus

Refinance

210,000,000

170,604,822

3,366,160

15,896,818

20,132,200

210,000,000

NAP

Loan

31, 32

DoubleTree Ontario

4.7%

100.0%

GSBI

GSMC

NAP

222 North Vineyard Avenue

Ontario

San Bernardino

California

91764

Hospitality

Full Service

1982

2019

482

Rooms

62,240.66

30,000,000

5.36900%

0.01775%

5.35125%

NAP

136,089.24

NAP

1,633,070.88

Interest Only

Actual/360

4/21/2022

6/6/2022

NAP

5/6/2027

NAP

L(23),YM1(12),O(25)

29,836,806

21,041,385

8,795,421

3/31/2022

T-12

24,960,913

17,999,527

6,961,386

12/31/2021

T-12

15,354,581

13,064,891

2,289,690

12/31/2020

T-12

85.9%

33,278,125

24,236,766

9,041,359

1,331,125

7,710,234

5.54

4.72

30.1%

25.7%

133,000,000

As Is

2/28/2022

22.6%

80.1%

3/31/2022

NAP

3/15/2022

NAP

3/15/2022

Fee

NAP

Springing

NAP

None

Springing

Yes

NAP

Park Intermediate Holdings LLC

Refinance

Yes

30,000,000

29,576,299

237,124

186,578

30,000,000

NAP

131.66

113.12

85.9%

143.57

114.99

80.1%

136.65

100.58

73.6%

121.85

60.19

49.4%

Loan

8, 33, 34, 35, 36

One Wilshire

3.7%

100.0%

GSBI

GSMC

NAP

624 South Grand Avenue

Los Angeles

California

90017

Office

CBD/Data Center

1967

1992

661,553

588.39

23,250,000

2.77600%

0.02775%

2.74825%

NAP

54,532.01

NAP

654,384.12

Interest Only - ARD

Yes

Actual/360

120

115

120

115

12/22/2021

2/6/2022

NAP

1/6/2032

1/6/2035

L(29),D(84),O(7)

52,164,978

16,537,821

35,627,157

9/30/2021

T-12

50,864,916

16,294,726

34,570,190

12/31/2020

T-12

47,132,520

15,521,713

31,610,806

12/31/2019

T-12

88.8%

54,609,882

17,099,493

37,510,389

119,080

471,918

36,919,391

3.42

3.37

9.6%

9.5%

913,000,000

As Is

11/5/2021

42.6%

87.3%

11/1/2021

CoreSite

176,685

26.7%

7/31/2029

Musick Peeler

106,475

16.1%

10/31/2023

Verizon Global Networks

61,881

9.4%

7/31/2029

CenturyLink Communications, LLC

56,251

8.5%

12/31/2025

Crowell, Weedon

43,301

6.5%

12/31/2024

12/3/2021

NAP

12/3/2021

18%

Yes - AE

Fee

NAP

Springing

NAP

Hard

Springing

Yes

23,250,000

366,000,000

858,439.45

912,971.46

NAP

389,250,000

912,971.46

42.6%

3.37

9.6%

NAP

TechCore, LLC

Refinance

389,250,000

190,909,806

781,598

197,558,597

389,250,000

NAP

Loan

8, 37

ExchangeRight Net Leased Portfolio #55

3.5%

CREFI, BCREI

CREFI

NAP

Various

Retail

Single Tenant

Various

747,953

138.91

22,340,000

4.58000%

0.01775%

4.56225%

NAP

86,448.56

NAP

1,037,382.72

Interest Only

Actual/360

120

119

120

119

4/8/2022

6/1/2022

NAP

5/1/2032

NAP

L(25),D(90),O(5)

NAV

92.5%

10,181,784

254,545

9,927,240

112,193

9,815,047

2.06

2.03

9.6%

9.4%

195,600,000

As Is

Various

53.1%

100.0%

387,576

129,192

Springing

1,500,000

Springing

180,760

200,000

Unfunded Obligations Reserve

NAP

Hard

Springing

Yes

22,340,000

81,560,000

315,610.77

402,059.33

NAP

103,900,000

402,059.33

53.1%

2.03

9.6%

NAP

ExchangeRight Real Estate, LLC

ExchangeRight Real Estate, LLC, David Fisher, Joshua Ungerecht and Warren Thomas

Yes

Acquisition

103,900,000

100,606,605

204,506,605

197,829,395

4,408,873

2,268,336

204,506,605

NAP

10.01

Property

Walmart Neighborhood Market - Prairieville (Airline), LA

0.3%

9.6%

15047 Airline Highway

Prairieville

Ascension

Louisiana

70769

Retail

Single Tenant

2017

NAP

41,917

2,134,018

NAV

92.5%

821,985

20,550

801,435

6,288

795,148

16,700,000

As Is

3/6/2022

100.0%

6/1/2022

Yes

Walmart Neighborhood Market

41,917

100.0%

4/12/2032

NAP

3/14/2022

NAP

3/14/2022

NAP

Yes - A

Fee

NAP

10.02

Property

Pick N Save - Sun Prairie (Main), WI

0.3%

9.3%

640 East Main Street

Sun Prairie

Dane

Wisconsin

53590

Retail

Single Tenant

2009

NAP

61,048

2,071,664

NAV

92.5%

903,510

22,588

880,923

9,157

871,765

17,000,000

As Is

2/24/2022

100.0%

6/1/2022

Yes

Pick 'n Save

61,048

100.0%

12/31/2029

NAP

2/23/2022

NAP

2/23/2022

NAP

Fee

NAP

10.03

Property

Schnucks - Love's Park (Harlem), IL

0.3%

8.8%

1810 Harlem Road

Loves Park

Winnebago

Illinois

61111

Retail

Single Tenant

1998

NAP

142,357

1,973,833

NAV

92.5%

895,426

22,386

873,040

21,354

851,687

16,100,000

As Is

3/7/2022

100.0%

6/1/2022

Yes

Schnucks

142,357

100.0%

12/31/2028

NAP

3/24/2022

NAP

3/24/2022

NAP

Fee

NAP

10.04

Property

Walmart Neighborhood Market - Thibodaux (Main), LA

0.3%

8.6%

224 West Main Street

Thibodaux

Terrebonne

Louisiana

70301

Retail

Single Tenant

2015

NAP

42,311

1,914,704

NAV

92.5%

737,466

18,437

719,030

6,347

712,683

14,900,000

As Is

3/3/2022

100.0%

6/1/2022

Yes

Walmart Neighborhood Market

42,311

100.0%

1/27/2031

NAP

3/22/2022

NAP

3/22/2022

NAP

Fee

NAP

Yes

NAP

10.05

Property

Walmart Neighborhood Market - Houma (Park), LA

0.3%

8.3%

6411 West Park Avenue

Houma

Terrebonne

Louisiana

70364

Retail

Single Tenant

2016

NAP

44,237

1,863,315

NAV

92.5%

722,843

18,071

704,772

6,636

698,136

14,700,000

As Is

3/3/2022

100.0%

6/1/2022

Yes

Walmart Neighborhood Market

44,237

100.0%

8/31/2031

NAP

3/21/2022

NAP

3/21/2022

NAP

Fee

NAP

10.06

Property

Publix - Decatur (Point), AL

0.2%

5.8%

2934 Point Mallard Parkway Southeast

Decatur

Morgan

Alabama

35603

Retail

Single Tenant

2018

NAP

45,600

1,304,063

NAV

92.5%

542,013

13,550

528,463

6,840

521,623

10,800,000

As Is

3/7/2022

100.0%

6/1/2022

Yes

Publix

45,600

100.0%

2/28/2038

NAP

1/31/2022

NAP

2/1/2022

NAP

Yes - A

Fee

NAP

10.07

Property

PNC Bank - Clarendon Hills (Holmes), IL

0.2%

5.0%

300 Holmes Avenue

Clarendon Hills

DuPage

Illinois

60514

Retail

Single Tenant

1986

NAP

15,896

1,123,235

NAV

92.5%

534,826

13,371

521,455

2,384

519,071

9,180,000

As Is

3/3/2022

100.0%

6/1/2022

Yes

PNC Bank, N.A.

15,896

100.0%

4/30/2032

NAP

3/21/2022

NAP

3/21/2022

NAP

Fee

NAP

10.08

Property

Walmart Neighborhood Market - New Iberia (Parkview), LA

0.2%

4.7%

1201 Parkview Drive

New Iberia

Iberia

Louisiana

70563

Retail

Single Tenant

2016

NAP

41,952

1,060,021

NAV

92.5%

699,757

17,494

682,263

6,293

675,970

14,200,000

As Is

3/3/2022

100.0%

6/1/2022

Yes

Walmart Neighborhood Market

41,952

100.0%

10/21/2031

NAP

3/15/2022

NAP

3/15/2022

NAP

Fee

NAP

10.09

Property

Walmart Neighborhood Market - Opelousas (Union), LA

0.2%

4.3%

2310 South Union Street

Opelousas

Saint Landry

Louisiana

70570

Retail

Single Tenant

2016

NAP

43,240

966,490

NAV

92.5%

592,919

14,823

578,096

6,486

571,610

12,000,000

As Is

3/3/2022

100.0%

6/1/2022

Yes

Walmart Neighborhood Market

43,240

100.0%

1/13/2031

NAP

3/15/2022

NAP

3/15/2022

NAP

Fee

NAP

10.10

Property

Walmart Neighborhood Market - Meraux (Archbishop), LA

0.1%

4.2%

2500 Archbishop Philip M. Hannan Boulevard

Meraux

Saint Bernard

Louisiana

70075

Retail

Single Tenant

2016

NAP

42,311

943,913

NAV

92.5%

613,836

15,346

598,490

6,347

592,144

12,400,000

As Is

3/6/2022

100.0%

6/1/2022

Yes

Walmart Neighborhood Market

42,311

100.0%

1/27/2031

NAP

3/21/2022

NAP

3/21/2022

NAP

Yes - AE

Fee

NAP

10.11

Property

CVS Pharmacy - Auburn (Opelika), AL

0.1%

3.6%

1498 Opelika Road

Auburn

Lee

Alabama

36830

Retail

Single Tenant

2009

NAP

13,253

808,454

NAV

92.5%

357,819

8,945

348,873

1,988

346,885

6,730,000

As Is

3/3/2022

100.0%

6/1/2022

Yes

CVS Pharmacy

13,253

100.0%

1/30/2030

NAP

1/31/2022

NAP

1/31/2022

NAP

Fee

NAP

10.12

Property

Huntington Bank- Clarksburg (Pike), WV

0.1%

2.5%

230 West Pike Street

Clarksburg

Harrison

West Virginia

26301

Retail

Single Tenant

1966

NAP

43,500

552,372

NAV

92.5%

242,493

6,062

236,431

6,525

229,906

4,550,000

As Is

3/9/2022

100.0%

6/1/2022

Yes

Huntington Bancshares

43,500

100.0%

12/31/2030

NAP

2/10/2022

NAP

2/10/2022

NAP

Fee

NAP

Yes

NAP

10.13

Property

CVS Pharmacy - Grand Rapids (Fuller), MI

0.1%

2.0%

1155 Fuller Avenue Northeast

Grand Rapids

Kent

Michigan

49503

Retail

Single Tenant

2000

NAP

10,965

449,380

NAV

92.5%

222,966

5,574

217,392

1,645

215,747

3,710,000

As Is

3/8/2022

100.0%

6/1/2022

Yes

CVS Pharmacy

10,965

100.0%

6/30/2027

NAP

2/10/2022

4/8/2022

2/10/2022

NAP

Fee

NAP

10.14

Property

O'Reilly Auto Parts - Madison (Commerce), WI

0.1%

1.8%

416 Commerce Drive

Madison

Dane

Wisconsin

53719

Retail

Single Tenant

1994

NAP

16,240

391,971

NAV

92.5%

165,335

4,133

161,201

2,436

158,765

3,200,000

As Is

2/24/2022

100.0%

6/1/2022

Yes

O'Reilly Auto Parts

16,240

100.0%

10/31/2031

NAP

3/9/2022

NAP

3/11/2022

NAP

Fee

NAP

10.15

Property

U.S. Bank - Northlake (North), IL

0.1%

1.7%

26 North Avenue

Northlake

Cook

Illinois

60164

Retail

Single Tenant

1961

NAP

5,300

371,975

NAV

92.5%

175,893

4,397

171,496

795

170,701

3,090,000

As Is

3/3/2022

100.0%

6/1/2022

Yes

U.S. Bank National Association

5,300

100.0%

1/31/2028

NAP

2/24/2022

NAP

2/24/2022

NAP

Fee

NAP

10.16

Property

CVS - Tullahoma (Jackson), TN

0.1%

1.6%

1351 North Jackson Street

Tullahoma

Coffee

Tennessee

37388

Retail

Single Tenant

1997

NAP

9,600

355,204

NAV

92.5%

143,552

3,589

139,963

1,440

138,523

3,000,000

As Is

3/4/2022

100.0%

6/1/2022

Yes

CVS Pharmacy

9,600

100.0%

5/31/2032

NAP

2/24/2022

NAP

3/2/2022

NAP

Fee

NAP

10.17

Property

7-Eleven- La Grange (Ogden), IL

0.1%

1.5%

9600 East Ogden Avenue

La Grange

Cook

Illinois

60525

Retail

Single Tenant

1997

NAP

3,000

331,982

NAV

92.5%

141,106

3,528

137,578

450

137,128

2,700,000

As Is

2/26/2022

100.0%

6/1/2022

Yes

7-Eleven

3,000

100.0%

8/31/2028

NAP

2/23/2022

4/8/2022

2/23/2022

NAP

Fee

NAP

10.18

Property

U.S. Bank - Elk Grove Village (Devon), IL

0.0%

1.4%

1100 West Devon Avenue

Elk Grove Village

Cook

Illinois

60007

Retail

Single Tenant

1977

NAP

4,250

314,566

NAV

92.5%

149,831

3,746

146,086

638

145,448

2,610,000

As Is

3/3/2022

100.0%

6/1/2022

Yes

U.S. Bank National Association

4,250

100.0%

1/31/2028

NAP

2/24/2022

NAP

2/24/2022

NAP

Fee

NAP

10.19

Property

Sherwin Williams - Marysville (Fifth), OH

0.0%

1.3%

702 East 5th Street

Marysville

Union

Ohio

43040

Retail

Single Tenant

2022

NAP

3,500

298,870

NAV

92.5%

121,795

3,045

118,750

525

118,225

2,400,000

As Is

2/22/2022

100.0%

6/1/2022

Yes

Sherwin Williams

3,500

100.0%

2/28/2033

NAP

1/28/2022

NAP

3/2/2022

NAP

Fee

NAP

Yes

NAP

10.20

Property

O'Reilly - Owensboro (Bold Forbes), KY

0.0%

1.3%

3200 Bold Forbes Way

Owensboro

Daviess

Kentucky

42303

Retail

Single Tenant

2021

NAP

7,150

296,505

NAV

92.5%

115,533

2,888

112,645

1,073

111,572

2,480,000

As Is

3/7/2022

100.0%

6/1/2022

Yes

O'Reilly Auto Parts

7,150

100.0%

8/31/2036

NAP

2/4/2022

NAP

2/4/2022

NAP

Fee

NAP

10.21

Property

PNC Bank - Aurora (Galena), IL

0.0%

1.3%

1977 West Galena Boulevard

Aurora

Kane

Illinois

60506

Retail

Single Tenant

1976

NAP

5,000

288,979

NAV

92.5%

127,465

3,187

124,278

750

123,528

2,360,000

As Is

3/3/2022

100.0%

6/1/2022

Yes

PNC Bank, N.A.

5,000

100.0%

5/31/2031

NAP

1/24/2022

NAP

1/24/2022

NAP

Fee

NAP

10.22

Property

NAPA Auto Parts - Downers Grove (Ogden), IL

0.0%

1.2%

901 Ogden Avenue

Downers Grove

DuPage

Illinois

60515

Retail

Single Tenant

1954

2007

10,500

270,273

NAV

92.5%

121,228

3,031

118,197

1,575

116,622

2,260,000

As Is

3/4/2022

100.0%

6/1/2022

Yes

Napa Auto Parts

10,500

100.0%

7/31/2029

NAP

3/21/2022

NAP

3/21/2022

NAP

Fee

NAP

10.23

Property

Family Dollar - Cuyahoga Falls (Bailey), OH

0.0%

1.1%

1841 Bailey Road

Cuyahoga Falls

Summit

Ohio

44221

Retail

Single Tenant

2014

NAP

8,353

254,362

NAV

92.5%

111,715

2,793

108,922

1,253

107,669

2,025,000

As Is

3/3/2022

100.0%

6/1/2022

Yes

Family Dollar

8,353

100.0%

9/30/2029

NAP

1/3/2022

NAP

1/3/2022

NAP

Fee

NAP

10.24

Property

Dollar General - Lewiston (Sabattus), ME

0.0%

1.1%

1079 Sabattus Street

Lewiston

Androscoggin

Maine

04240

Retail

Single Tenant

2014

NAP

9,026

234,796

NAV

92.5%

102,645

2,566

100,079

1,354

98,725

1,900,000

As Is

2/18/2022

100.0%

6/1/2022

Yes

Dollar General

9,026

100.0%

2/28/2030

NAP

12/29/2021

NAP

12/29/2021

NAP

Fee

NAP

10.25

Property

U.S. Bank - Niles (Dempster), IL

0.0%

1.0%

8500 West Dempster Street

Niles

Cook

Illinois

60714

Retail

Single Tenant

1978

NAP

5,477

222,970

NAV

92.5%

105,738

2,643

103,095

822

102,273

1,840,000

As Is

3/3/2022

100.0%

6/1/2022

Yes

U.S. Bank National Association

5,477

100.0%

1/31/2028

NAP

2/23/2022

NAP

2/23/2022

NAP

Fee

NAP

10.26

Property

Dollar Tree - Des Plaines (Rand), IL

0.0%

1.0%

1507 Rand Road

Des Plaines

Cook

Illinois

60016

Retail

Single Tenant

1967

2019

8,300

217,380

NAV

92.5%

95,969

2,399

93,570

1,245

92,325

1,740,000

As Is

3/7/2022

100.0%

6/1/2022

Yes

Dollar Tree

8,300

100.0%

1/31/2029

NAP

1/17/2022

NAP

1/17/2022

NAP

Yes - AE

Fee

NAP

10.27

Property

Dollar General - Odessa (University), TX

0.0%

0.9%

10521 West University Boulevard

Odessa

Ector

Texas

79764

Retail

Single Tenant

2013

NAP

9,026

196,308

NAV

92.5%

86,887

2,172

84,715

1,354

83,361

1,570,000

As Is

3/5/2022

100.0%

6/1/2022

Yes

Dollar General

9,026

100.0%

5/31/2028

NAP

2/23/2022

NAP

2/23/2022

NAP

Fee

NAP

10.28

Property

Dollar General - Weber City, (Hwy 23), VA

0.0%

0.9%

2000 Main Street

Weber City

Scott

Virginia

24290

Retail

Single Tenant

1958

2013

9,495

195,878

NAV

92.5%

91,316

2,283

89,033

1,424

87,609

1,600,000

As Is

2/28/2022

100.0%

6/1/2022

Yes

Dollar General

9,495

100.0%

10/31/2028

NAP

3/18/2022

NAP

3/18/2022

NAP

Fee

NAP

Yes

NAP

10.29

Property

Dollar General- Springtown (Highway), TX

0.0%

0.8%

4405 East Highway 199

Springtown

Parker

Texas

76082

Retail

Single Tenant

2014

NAP

9,026

176,097

NAV

92.5%

81,638

2,041

79,597

1,354

78,243

1,500,000

As Is

3/5/2022

100.0%

6/1/2022

Yes

Dollar General

9,026

100.0%

5/31/2029

NAP

2/23/2022

NAP

2/23/2022

NAP

Fee

NAP

10.30

Property

Sherwin Williams - Champaign (Marketview), IL

0.0%

0.8%

702 West Marketview Drive

Champaign

Illinois

61822

Retail

Single Tenant

1989

2012

4,884

172,442

NAV

92.5%

74,786

1,870

72,917

733

72,184

1,480,000

As Is

3/4/2022

100.0%

6/1/2022

Yes

Sherwin Williams

4,884

100.0%

8/31/2031

NAP

2/23/2022

NAP

3/3/2022

NAP

Fee

NAP

10.31

Property

Dollar General - Holly (Saginaw), MI

0.0%

0.7%

514 North Saginaw Street

Holly

Oakland

Michigan

48442

Retail

Single Tenant

1950

2014

10,736

155,670

NAV

92.5%

82,156

2,054

80,102

1,610

78,492

1,275,000

As Is

3/1/2022

100.0%

6/1/2022

Yes

Dollar General

10,736

100.0%

10/31/2028

NAP

3/11/2022

NAP

3/15/2022

NAP

Fee

NAP

10.32

Property

Dollar General - Dyer (Sheffield), IN

0.0%

0.7%

1620 Sheffield Avenue

Dyer

Lake

Indiana

46311

Retail

Single Tenant

2006

NAP

9,014

152,875

NAV

92.5%

68,065

1,702

66,364

1,352

65,011

1,220,000

As Is

2/25/2022

100.0%

6/1/2022

Yes

Dollar General

9,014

100.0%

2/29/2028

NAP

2/1/2022

NAP

2/2/2022

NAP

Fee

NAP

10.33

Property

Dollar General - Lubbock (University), TX

0.0%

0.7%

9604 University Avenue

Lubbock

Texas

79423

Retail

Single Tenant

2004

NAP

9,014

151,370

NAV

92.5%

70,223

1,756

68,468

1,352

67,116

1,320,000

As Is

3/5/2022

100.0%

6/1/2022

Yes

Dollar General

9,014

100.0%

8/31/2029

NAP

2/11/2022

NAP

3/2/2022

NAP

Fee

NAP

10.34

Property

Citizens Bank - Wilmington (Marsh), DE

0.0%

0.6%

1620 Marsh Road

Wilmington

New Castle

Delaware

19803

Retail

Single Tenant

1950

2007

2,475

124,063

NAV

92.5%

61,049

1,526

59,523

371

59,151

1,060,000

As Is

3/7/2022

100.0%

6/1/2022

Yes

Citizens Bank

2,475

100.0%

6/30/2027

NAP

2/9/2022

NAP

2/2/2022

NAP

Fee

NAP

Loan

38, 39

Rivercrest Retail Portfolio I

3.4%

GSBI

GSMC

Group 1

NAP

Various

Retail

Shadow Anchored

Various

NAP

156,023

136.60

21,312,616

5.70000%

0.01775%

5.68225%

NAP

102,640.97

NAP

1,231,691.64

Interest Only

Actual/360

120

5/19/2022

7/6/2022

NAP

6/6/2032

NAP

L(24),D(91),O(5)

2,718,366

730,998

1,987,367

3/31/2022

T-12

2,662,336

725,004

1,937,332

12/31/2021

T-12

2,674,865

616,540

2,058,325

12/31/2020

T-12

93.7%

2,846,265

656,609

2,189,657

22,888

46,947

2,119,821

1.78

1.72

10.3%

9.9%

33,100,000

As Is Portfolio

5/11/2022

64.4%

96.4%

140,065

24,705

Springing

1,950

225,000

9,375

337,500

350,238

Unfunded Obligations Reserve

NAP

Springing

Yes

NAP

Stanley Werb and Jonathan S. Gaines

Refinance

21,312,616

12,949,950

328,201

715,303

7,319,162

21,312,616

NAP

11.01

Property

White Horse Commons

0.7%

22.2%

6134 White Horse Road

Greenville

South Carolina

29611

Retail

Shadow Anchored

1999

NAP

33,646

4,741,991

576,208

173,360

402,848

3/31/2022

T-12

563,732

169,325

394,407

12/31/2021

T-12

650,787

158,269

492,518

12/31/2020

T-12

95.0%

656,239

173,816

482,424

3,365

11,482

467,577

7,200,000

As Is

4/15/2022

100.0%

4/1/2022

Shoe Show

6,505

19.3%

7/31/2028

City Gear

4,718

14.0%

5/31/2029

Family Dental

4,007

11.9%

1/31/2027

Buddy's Home Furnishings

4,000

11.9%

5/31/2027

It's Fashion Store

3,200

9.5%

1/31/2023

4/27/2022

NAP

4/27/2022

NAP

Fee

NAP

11.02

Property

Hillview Plaza

0.7%

22.2%

14019 & 14041 East Wade Hampton Boulevard

Greer

Spartanburg

South Carolina

29651

Retail

Shadow Anchored

1998

NAP

33,027

4,741,991

592,577

176,667

415,909

3/31/2022

T-12

589,436

175,443

413,993

12/31/2021

T-12

563,449

141,066

422,383

12/31/2020

T-12

93.5%

655,707

175,164

480,543

3,303

10,934

466,306

7,200,000

As Is

4/15/2022

94.9%

4/1/2022

Shoe Show

4,312

13.1%

11/30/2023

Cato

4,240

12.8%

1/31/2025

By Essence

4,000

12.1%

12/31/2023

Rent-A-Center

4,000

12.1%

10/31/2023

Le Nails

3,007

9.1%

5/31/2027

4/27/2022

NAP

4/27/2022

NAP

Fee

NAP

11.03

Property

Tidewater Plaza

0.7%

19.8%

1671 North Howe Street

Southport

Brunswick

North Carolina

28461

Retail

Shadow Anchored

2000

NAP

30,249

4,215,103

511,234

130,578

380,656

3/31/2022

T-12

488,684

129,821

358,863

12/31/2021

T-12

443,041

106,947

336,094

12/31/2020

T-12

91.8%

517,789

94,374

423,415

2,722

8,460

412,232

6,400,000

As Is

4/26/2022

93.4%

4/1/2022

Dollar Tree

8,041

26.6%

8/31/2027

Cato

4,160

13.8%

1/31/2023

Shoe Show

3,200

10.6%

5/31/2024

E-Smoke Tobacco & Vape

2,523

8.3%

10/31/2024

T-Mobile

2,009

6.6%

1/31/2027

4/27/2022

NAP

4/27/2022

NAP

Fee

NAP

11.04

Property

Boiling Springs Centre

0.6%

18.9%

4010 Highway 9

Boiling Springs

Spartanburg

South Carolina

29316

Retail

Shadow Anchored

1999

NAP

29,983

4,017,521

592,084

167,563

424,521

3/31/2022

T-12

583,847

169,815

414,032

12/31/2021

T-12

532,617

129,285

403,332

12/31/2020

T-12

95.4%

565,584

143,266

422,318

3,598

8,364

410,356

6,100,000

As Is

4/15/2022

100.0%

4/1/2022

Dollar Tree

8,018

26.7%

6/30/2032

Cato

4,160

13.9%

1/31/2025

Fuji Express

3,500

11.7%

2/28/2025

The Shoe Dept.

3,500

11.7%

10/31/2024

T-Mobile

2,400

8.0%

4/30/2023

4/27/2022

NAP

4/27/2022

NAP

Fee

NAP

11.05

Property

Garber's Crossing

0.6%

16.9%

2200 John Wayland Highway

Harrisonburg

Rockingham

Virginia

22801

Retail

Shadow Anchored

1999

NAP

29,118

3,596,010

446,263

82,830

363,433

3/31/2022

T-12

436,637

80,600

356,037

12/31/2021

T-12

484,971

80,973

403,998

12/31/2020

T-12

92.1%

450,947

69,989

380,957

9,900

7,707

363,350

5,460,000

As Is

4/21/2022

93.1%

4/1/2022

Dollar Tree

9,500

32.6%

8/31/2027

Cato

3,600

12.4%

1/31/2025

Skrimp Shack

2,406

8.3%

10/31/2026

Virginia A.B.C. Store

2,400

8.2%

5/31/2024

CosmoProf

2,400

8.2%

6/30/2023

4/27/2022

NAP

4/27/2022

NAP

Fee

NAP

Loan

Rivercrest Retail Portfolio II

3.3%

GSBI

GSMC

Group 1

NAP

Various

Retail

Shadow Anchored

Various

NAP

144,714

144.14

20,859,384

5.70000%

0.01775%

5.68225%

NAP

100,458.21

NAP

1,205,498.52

Interest Only

Actual/360

120

5/19/2022

7/6/2022

NAP

6/6/2032

NAP

L(24),D(91),O(5)

2,767,367

638,221

2,129,146

3/31/2022

T-12

2,759,067

633,109

2,125,958

12/31/2021

T-12

2,552,286

534,175

2,018,111

12/31/2020

T-12

91.2%

2,717,664

631,327

2,086,338

26,465

40,945

2,018,928

1.73

1.67

10.0%

9.7%

31,780,000

As Is Portfolio

5/11/2022

65.6%

94.0%

143,409

22,945

Springing

2,171

225,000

9,375

337,500

NAP

Springing

Yes

NAP

Stanley Werb and Jonathan S. Gaines

Refinance

20,859,384

18,720,579

289,809

368,409

1,480,587

20,859,384

NAP

12.01

Property

Creekside Plaza

1.1%

33.4%

707-715 & 725-739 East Dixon Boulevard

Shelby

Cleveland

North Carolina

28152

Retail

Shadow Anchored

1999

NAP

42,971

6,975,485

885,676

179,371

706,305

3/31/2022

T-12

865,762

179,073

686,689

12/31/2021

T-12

840,886

152,813

688,073

12/31/2020

T-12

91.9%

851,635

143,086

708,549

4,727

14,008

689,814

10,400,000

As Is

4/15/2022

93.0%

4/1/2022

PetSmart, Inc.

6,624

15.4%

4/30/2023

Hibbett Sporting Goods, Inc.

6,000

14.0%

7/31/2024

China Town

5,000

11.6%

MTM

Cato

4,720

11.0%

1/31/2025

Dixon Discount Tobacco & Vape

3,115

7.2%

11/30/2026

4/27/2022

NAP

4/27/2022

NAP

Fee

NAP

12.02

Property

Southside Commons

0.8%

24.8%

2014 South Irby Street

Florence

South Carolina

29505

Retail

Shadow Anchored

1999

NAP

37,445

5,164,542

726,703

139,105

587,597

3/31/2022

T-12

725,506

138,594

586,912

12/31/2021

T-12

675,512

112,104

563,408

12/31/2020

T-12

95.2%

750,353

183,263

567,091

14,978

11,569

540,544

7,700,000

As Is

4/26/2022

100.0%

4/1/2022

Dollar Tree

9,023

24.1%

4/30/2024

Cato

4,240

11.3%

1/31/2024

Shoe Show

3,512

9.4%

11/30/2023

Verizon Wireless

3,193

8.5%

6/30/2024

It's Fashion Store

3,120

8.3%

1/31/2023

4/27/2022

NAP

4/27/2022

NAP

Fee

NAP

12.03

Property

Southtowne Commons

0.7%

20.9%

411 North Fruitland Boulevard

Salisbury

Wicomico

Maryland

21801

Retail

Shadow Anchored

2000

NAP

31,238

4,359,679

516,755

135,393

381,362

3/31/2022

T-12

530,140

132,382

397,758

12/31/2021

T-12

423,117

116,786

306,331

12/31/2020

T-12

81.2%

500,311

131,316

368,995

3,124

5,836

360,035

6,500,000

As Is

4/17/2022

81.6%

4/1/2022

Dollar Tree

10,009

32.0%

8/31/2029

The Shoe Dept.

4,000

12.8%

10/31/2023

Cato

3,600

11.5%

1/31/2024

OneMain Financial

1,600

5.1%

12/31/2023

Wireless Zone

1,600

5.1%

1/31/2025

4/27/2022

NAP

4/27/2022

NAP

Fee

NAP

12.04

Property

Piedmont Plaza

0.7%

20.9%

165 Walton Drive

Gaffney

Cherokee

South Carolina

29341

Retail

Shadow Anchored

2000

NAP

33,060

4,359,678

638,233

184,352

453,881

3/31/2022

T-12

637,659

183,060

454,599

12/31/2021

T-12

612,771

152,472

460,299

12/31/2020

T-12

95.2%

615,365

173,662

441,704

3,637

9,533

428,534

6,500,000

As Is

4/15/2022

100.0%

4/1/2022

Dollar Tree

8,000

24.2%

8/31/2025

Shoe Show

6,000

18.1%

11/30/2024

Cato

4,160

12.6%

1/31/2024

A to Z Liquor

3,213

9.7%

7/31/2022

OpSource

2,494

7.5%

2/28/2023

4/27/2022

NAP

4/27/2022

NAP

Fee

NAP

Loan

League City Storage

3.0%

100.0%

SMC

NAP

3000 FM 646 East

League City

Galveston

Texas

77573

Self Storage

2005

NAP

433,796

43.17

18,725,000

5.08500%

0.01775%

5.06725%

NAP

80,449.23

NAP

965,390.78

Interest Only

Actual/360

120

118

120

118

3/31/2022

5/6/2022

NAP

4/6/2032

NAP

L(26),D(90),O(4)

2,586,689

781,470

1,805,219

2/28/2022

T-12

2,486,635

764,544

1,722,091

12/31/2021

T-12

1,920,085

669,152

1,250,933

12/31/2020

T-12

95.0%

2,561,235

866,459

1,694,776

13,014

1,681,762

1.76

1.74

9.1%

9.0%

30,700,000

As Is

2/27/2022

61.0%

99.4%

3/7/2022

NAP

3/4/2022

NAP

3/4/2022

NAP

Fee

NAP

81,965

20,491

50,198

25,099

1,084

NAP

Springing

Yes

NAP

William E. Bellomy

Acquisition

18,725,000

8,566,692

27,291,692

26,750,000

409,529

132,163

27,291,692

NAP

Loan

501 W 24th Street

2.5%

100.0%

BMO

NAP

501 West 24th Street

New York

10011

Retail

Single Tenant

2015

NAP

7,807

2,030.23

15,850,000

6.38000%

0.01775%

6.36225%

NAP

85,439.57

NAP

1,025,274.84

Interest Only

Actual/360

120

119

120

119

5/5/2022

6/6/2022

NAP

5/6/2032

NAP

L(25),D(91),O(4)

2,486,136

331,364

2,154,772

12/31/2021

T-12

2,378,490

306,233

2,072,257

12/31/2020

T-12

2,398,369

301,062

2,097,306

12/31/2019

T-12

95.0%

1,884,484

378,907

1,505,577

1,171

7,807

1,496,599

1.47

1.46

9.5%

9.4%

28,800,000

As Is

4/1/2022

55.0%

100.0%

6/6/2022

Yes

Lehman-Maupin L.L.C. (Art Gallery)

7,807

100.0%

4/30/2037

NAP

4/8/2022

NAP

4/8/2022

NAP

Fee

NAP

92,487

15,415

6,544

3,272

100

651

9,111

Condominium Assessments Reserve

NAP

Hard

Springing

Yes

NAP

Jean-Pierre Lehmann and Rachel Lehmann

Refinance

15,850,000

13,633,464

440,988

108,142

1,667,406

15,850,000

NAP

Loan

8, 41

Stockton Self Storage Portfolio

2.2%

SMC

NAP

Various

California

Various

464,535

83.87

14,000,000

13,985,622

11,566,506

5.14400%

0.01775%

5.12625%

76,391.93

NAP

916,703.16

NAP

Amortizing Balloon

Actual/360

120

119

360

359

4/21/2022

6/6/2022

5/6/2032

NAP

L(25),D(90),O(5)

5,970,246

1,630,939

4,339,307

3/31/2022

T-12

5,676,848

1,625,083

4,051,765

12/31/2021

T-12

5,272,047

1,537,139

3,734,908

12/31/2020

T-12

80.4%

5,975,092

1,821,673

4,153,419

78,025

4,075,395

1.63

1.60

10.7%

10.5%

79,350,000

As Is

Various

49.1%

40.6%

97.8%

55,257

27,629

56,532

5,855

6,502

NAP

Springing

Yes

13,985,622

24,974,325

136,414.15

212,806.08

NAP

38,959,947

212,806.08

49.1%

1.60

10.7%

NAP

Steven L. Diede

Refinance

39,000,000

20,170,671

341,762

111,789

18,375,778

39,000,000

NAP

15.01

Property

Airport Road Self Storage

0.8%

36.7%

1604 Airport Road

Rio Vista

Solano

California

94571

Self Storage

2000, 2003, 2006, 2018

NAP

113,170

5,133,333

5,128,061

4,241,052

2,005,527

485,294

1,520,233

3/31/2022

T-12

1,930,452

487,286

1,443,166

12/31/2021

T-12

1,792,931

446,957

1,345,974

12/31/2020

T-12

77.0%

2,005,527

536,596

1,468,931

12,449

1,456,483

28,890,000

As Is

3/15/2022

94.3%

4/15/2022

NAP

3/31/2022

NAP

4/4/2022

3/28/2022

10%

Fee

NAP

15.02

Property

Morada Self Storage

0.4%

19.5%

10200 North State Route 99 East Frontage Road

Stockton

San Joaquin

California

95212

Self Storage

2002

NAP

98,700

2,728,205

2,725,403

2,253,986

1,315,587

383,764

931,823

3/31/2022

T-12

1,269,017

374,874

894,143

12/31/2021

T-12

1,140,091

371,503

768,588

12/31/2020

T-12

82.1%

1,319,007

422,391

896,616

11,844

884,772

15,950,000

As Is

3/28/2022

99.2%

4/15/2022

NAP

3/31/2022

NAP

4/4/2022

3/28/2022

Fee

NAP

15.03

Property

Highway 88 Self Storage

0.3%

13.1%

12941 Blossom Court

Lockeford

San Joaquin

California

95237

Self Storage

2003

NAP

68,475

1,830,769

1,828,889

1,512,543

812,742

270,382

542,360

3/31/2022

T-12

795,221

267,064

528,157

12/31/2021

T-12

702,889

267,796

435,093

12/31/2020

T-12

74.1%

812,742

285,094

527,648

7,532

520,116

9,550,000

As Is

3/1/2022

98.1%

4/15/2022

NAP

3/21/2022

NAP

4/4/2022

3/28/2022

Fee

NAP

15.04

Property

Beckman Road Industrial

0.3%

12.8%

850 Thurman Street a/k/a 500 South Beckman Road

Lodi

San Joaquin

California

95240

Industrial

Manufacturing

1980

2021

99,000

1,794,872

1,793,028

1,482,885

647,212

53,544

593,668

3/31/2022

T-12

519,750

56,535

463,216

12/31/2021

T-12

581,742

43,799

537,943

12/31/2020

T-12

95.0%

648,638

111,410

537,228

27,720

509,508

11,700,000

As Is

3/16/2022

100.0%

6/6/2022

Yes

Cepheid (subsidiary of Danaher Corp)

99,000

100.0%

1/31/2031

NAP

4/6/2022

NAP

4/4/2022

3/28/2022

Fee

NAP

15.05

Property

Highway 99 Self Storage

0.2%

10.8%

935 Simmerhorn Road

Galt

Sacramento

California

95632

Self Storage

1982

NAP

50,240

1,507,692

1,506,144

1,245,624

718,354

273,677

444,677

3/31/2022

T-12

714,086

276,188

437,898

12/31/2021

T-12

664,124

258,468

405,656

12/31/2020

T-12

86.9%

718,354

288,566

429,788

9,043

420,745

8,010,000

As Is

3/28/2022

98.6%

4/15/2022

NAP

4/4/2022

NAP

4/4/2022

3/28/2022

Fee

NAP

15.06

Property

Eight Mile Road Self Storage

0.2%

7.2%

10910 North Highway 99

Lodi

San Joaquin

California

95240

Self Storage

1990

NAP

34,950

1,005,128

1,004,096

830,416

470,824

164,277

306,547

3/31/2022

T-12

448,322

163,137

285,185

12/31/2021

T-12

390,270

148,617

241,653

12/31/2020

T-12

77.9%

470,824

177,617

293,207

9,437

283,771

5,250,000

As Is

3/16/2022

97.1%

4/15/2022

NAP

4/5/2022

NAP

4/4/2022

3/28/2022

Fee

NAP

Loan

Enterprise Mills

2.1%

100.0%

BMO

NAP

1450 Greene Street

Augusta

Richmond

Georgia

30901

Mixed Use

Office/Multifamily

1848

1999

179,672

73.47

13,200,000

5.05000%

0.01775%

5.03225%

NAP

56,321.53

NAP

675,858.36

Interest Only

Actual/360

120

119

120

119

4/28/2022

6/6/2022

NAP

5/6/2032

NAP

L(25),D(91),O(4)

2,593,835

1,303,082

1,290,753

2/28/2022

T-12

2,552,765

1,248,613

1,304,152

12/31/2021

T-12

2,520,981

1,254,308

1,266,673

12/31/2020

T-12

93.4%

2,703,768

1,287,331

1,416,437

2.10

10.7%

24,400,000

As Is

1/28/2022

54.1%

94.8%

4/25/2022

Rural Sourcing, Inc.

16,860

9.4%

12/31/2026

Augusta Canal Authority

16,529

9.2%

12/31/2022

Fatsville Enterprises

7,490

4.2%

2/28/2024

Kilpatrick, Townsend & Stockton, LLP

6,514

3.6%

12/31/2022

Georgia Legal Services Program, Inc.

5,810

3.2%

2/28/2026

12/8/2021

NAP

12/8/2021

NAP

Fee

NAP

99,740

12,468

27,894

6,974

226,871

Springing

226,871

439,563

Springing

439,563

41,250

NAP

Hard (Commercial); Soft (Multifamily)

Springing

Yes

NAP

Richard Kulick and Carlos Imery

Yes

Refinance

NAP

Loan

Roselle & Color Plaza

2.1%

CREFI

NAP

Various

Union

New Jersey

Various

Retail

Various

100,851

129.89

13,100,000

5.21000%

0.01775%

5.19225%

NAP

57,665.78

NAP

691,989.36

Interest Only

Actual/360

120

5/11/2022

7/6/2022

NAP

6/6/2032

NAP

L(24),D(93),O(3)

3,660,538

1,469,360

2,191,178

2/28/2022

T-12

3,693,181

1,457,747

2,235,435

12/31/2021

T-12

3,427,414

1,460,143

1,967,271

12/31/2020

T-12

95.1%

3,755,864

1,644,903

2,110,961

29,632

108,261

1,973,069

3.05

2.85

16.1%

15.1%

30,200,000

As Is

3/29/2022

43.4%

100.0%

Springing

42,650

5,331

2,469

Springing

179,372

NAP

Springing

Yes

NAP

Don Ackerman and The Don Ackerman Revocable Inter Vivos Trust

Refinance

NAP

17.01

Property

Color Plaza

1.1%

54.0%

1000 South Elmora Avenue

Elizabeth

Union

New Jersey

07202

Retail

Anchored

1916

1994

50,709

7,070,530

2,053,459

925,594

1,127,865

2/28/2022

T-12

2,044,003

919,808

1,124,195

12/31/2021

T-12

1,948,222

954,793

993,429

12/31/2020

T-12

95.2%

1,989,354

931,456

1,057,898

7,732

55,998

994,168

16,300,000

As Is

3/29/2022

100.0%

4/5/2022

Seabra Supermarket

19,065

37.6%

8/31/2029

CVS

9,814

19.4%

1/31/2025

Fashion Gallery

6,247

12.3%

1/31/2025

Jin P Chen Discount Store

3,400

6.7%

8/31/2023

Jin Chen Laundromat

1,925

3.8%

7/31/2028

4/6/2022

NAP

4/6/2022

NAP

Fee

NAP

17.02

Property

Roselle Plaza

1.0%

46.0%

711 East 1st Avenue

Roselle

Union

New Jersey

07203

Retail

Shadow Anchored

2004

NAP

50,142

6,029,470

1,607,079

543,766

1,063,313

2/28/2022

T-12

1,649,178

537,938

1,111,240

12/31/2021

T-12

1,479,192

505,350

973,842

12/31/2020

T-12

95.0%

1,766,510

713,446

1,053,064

21,900

52,263

978,900

13,900,000

As Is

3/29/2022

100.0%

4/5/2022

Pep Boys

12,297

24.5%

3/31/2023

JL Real Estate

5,965

11.9%

7/31/2032

Sung Man Kim

5,017

10.0%

3/31/2024

711 Roselle Grocery Inc.

4,849

9.7%

1/31/2024

Mac J Services

4,830

9.6%

6/30/2026

4/11/2022

NAP

4/6/2022

NAP

Fee

NAP

Loan

Las Casitas MHP

2.0%

100.0%

SMC

NAP

2841 Fowler Road

Ceres

Stanislaus

California

95307

Manufactured Housing

1972

NAP

180

Pads

69,444.44

12,500,000

6.29500%

0.01775%

6.27725%

NAP

66,483.65

NAP

797,803.82

Interest Only

Actual/360

120

5/19/2022

7/6/2022

NAP

6/6/2032

NAP

L(24),YM1(91),O(5)

1,500,577

439,365

1,061,212

3/31/2022

T-12

1,472,012

463,917

1,008,095

12/31/2021

T-12

1,377,906

418,086

959,820

12/31/2020

T-12

95.0%

1,672,920

553,681

1,119,239

9,000

1,110,239

1.40

1.39

9.0%

8.9%

21,500,000

As Is

5/3/2022

58.1%

100.0%

5/16/2022

NAP

4/21/2022

NAP

4/21/2022

4/26/2022

Fee

NAP

5,876

1,959

9,585

1,598

750

1,500,000

Economic Performance Reserve

NAP

Springing

Yes

NAP

Yes

Mezzanine (Max Combined LTV of 58.1%; Min Combined DSCR of 1.21x; Min Combined Debt Yield of 9.0%; Intercreditor Agreement is required)

Kimberly Haines, Charlene Kane and Branon Kane

Refinance

NAP

Loan

348 13th Street

1.7%

100.0%

CREFI

NAP

348 13th Street

Brooklyn

Kings

New York

11215

Office

Medical

1931

NAP

18,079

608.44

11,000,000

5.15000%

0.01775%

5.13225%

NAP

47,864.00

NAP

574,368.00

Interest Only

Actual/360

120

119

120

119

5/3/2022

6/6/2022

NAP

5/6/2032

NAP

L(25),D(92),O(3)

1,119,469

159,054

960,415

12/31/2021

T-12

1,067,898

160,418

907,480

12/31/2020

T-12

961,073

152,910

808,164

12/31/2019

T-12

95.0%

1,269,141

179,727

1,089,413

5,502

38,773

1,045,139

1.90

1.82

9.9%

9.5%

21,900,000

As Is

3/14/2022

50.2%

100.0%

4/20/2022

8616 Day Care Inc.

4,800

26.6%

6/30/2031

Premier Imaging

4,300

23.8%

8/31/2025

Park Slope Mental Health

3,395

18.8%

4/30/2032

Dr. Himansh Khanna

2,884

16.0%

2/28/2026

Maimonides Medical Center

1,500

8.3%

12/31/2023

3/30/2022

NAP

3/24/2022

NAP

Fee

NAP

38,723

6,454

19,196

1,477

458

4,143

Springing

Specified Tenant Renewal Reserve

NAP

Springing

Yes

NAP

Harry Einhorn

Refinance

NAP

Loan

43, 44

Arcadia Metro Center

1.7%

100.0%

SMC

NAP

630, 632, 638 and 650 West Duarte Road

Arcadia

Los Angeles

California

91007

Office

Suburban

1956-1960

NAP

73,759

147.10

10,850,000

5.46500%

0.05775%

5.40725%

NAP

50,099.00

NAP

601,187.95

Interest Only

Actual/360

120

5/13/2022

7/6/2022

NAP

6/6/2032

NAP

L(24),D(92),O(4)

2,040,186

946,016

1,094,170

2/28/2022

T-12

2,008,701

939,990

1,068,710

12/31/2021

T-12

1,825,457

812,164

1,013,293

12/31/2020

T-12

90.8%

2,225,996

954,373

1,271,623

18,440

35,000

1,218,183

2.12

2.03

11.7%

11.2%

19,800,000

As Is

3/8/2022

54.8%

89.5%

4/18/2022

American Plus Bank, N.A

8,459

11.5%

10/31/2026

Medical Imaging Partners

4,998

6.8%

11/30/2024

Easyfind Co., Inc.

3,261

4.4%

9/30/2024

Michael Minehart MD, Inc.

2,974

4.0%

MTM

Leonard Lem, DDS

2,702

3.7%

12/31/2022

3/10/2022

NAP

3/11/2022

15%

Fee

NAP

53,754

17,918

13,168

1,317

1,537

250,000

Springing

250,000

NAP

Springing

Yes

NAP

Jung S. Ha, Kyung M. Ha and Jaekyong Lawrence Han

Yes

Refinance

NAP

Loan

45, 46

Fisher MHP Portfolio

1.6%

SMC

NAP

Various

Pennsylvania

Various

Manufactured Housing

Various

NAP

334

Pads

30,688.62

10,250,000

5.99900%

0.01775%

5.98125%

NAP

51,953.15

NAP

623,437.74

Interest Only

Actual/360

120

119

120

119

5/6/2022

6/6/2022

NAP

5/6/2032

NAP

L(25),D(90),O(5)

1,273,609

293,858

979,751

2/28/2022

T-12

1,249,963

279,888

970,074

12/31/2021

T-12

1,159,503

301,611

857,892

12/31/2020

Various

90.1%

1,402,854

345,183

1,057,671

16,700

1,040,971

1.70

1.67

10.3%

10.2%

17,180,000

As Is

3/24/2022

59.7%

88.9%

79,848

8,415

6,757

2,252

1,392

50,000

NAP

Springing

Yes

NAP

Yes

Mezzanine (Max Combined LTV of 59.7%; Min Combined DSCR of 1.41x; Min Combined Debt Yield of 10.2%; Intercreditor Agreement is required)

J. Herbert Fisher, Jr., Scott A. Rhoades and David H. Nguyen

Refinance

NAP

21.01

Property

Spring & Stone Manor

1.0%

64.6%

Spring Drive and Stone Manor Court

Martinsburg

Blair

Pennsylvania

16662

Manufactured Housing

1979

NAP

215

Pads

6,622,526

791,735

151,191

640,544

2/28/2022

T-12

781,898

143,691

638,207

12/31/2021

T-12

729,438

132,613

596,825

12/31/2020

T-9 Ann

89.4%

905,874

163,791

742,083

10,750

731,333

11,100,000

As Is

3/24/2022

89.3%

5/1/2022

NAP

3/30/2022

NAP

3/30/2022

NAP

Yes - AE

Fee

NAP

21.02

Property

Fountain House MHP

0.3%

18.4%

16311 State Highway 86

Saegertown

Crawford

Pennsylvania

16433

Manufactured Housing

1974

NAP

Pads

1,885,332

236,885

83,016

153,869

2/28/2022

T-12

229,502

78,468

151,033

12/31/2021

T-12

219,980

86,358

133,622

12/31/2020

T-12

84.8%

239,038

81,416

157,622

3,450

154,172

3,160,000

As Is

3/24/2022

82.6%

5/1/2022

NAP

3/30/2022

NAP

3/30/2022

NAP

Fee

NAP

21.03

Property

Windsor Castle MHP

0.3%

17.0%

1 Allen Street

Hamburg

Berks

Pennsylvania

19526

Manufactured Housing

1973

NAP

Pads

1,742,142

244,989

59,651

185,338

2/28/2022

T-12

238,563

57,729

180,834

12/31/2021

T-12

210,085

82,640

127,445

12/31/2020

T-7 Ann

98.1%

257,942

99,976

157,966

2,500

155,466

2,920,000

As Is

3/24/2022

96.0%

5/1/2022

NAP

3/30/2022

NAP

3/30/2022

NAP

Fee

NAP

Loan

25-28 Broadway

1.6%

100.0%

SMC

NAP

25-28 Broadway

Queens

New York

11106

Multifamily

Mid Rise

2020

NAP

Units

500,000.00

10,000,000

4.71000%

0.01775%

4.69225%

NAP

39,795.14

NAP

477,541.67

Interest Only

Actual/360

120

119

120

119

5/4/2022

6/6/2022

NAP

5/6/2032

NAP

L(25),D(91),O(4)

NAV

96.6%

880,526

121,585

758,941

5,000

753,941

1.59

1.58

7.6%

7.5%

15,800,000

As Is

3/28/2022

63.3%

100.0%

4/26/2022

NAP

4/4/2022

NAP

4/4/2022

NAP

Fee

NAP

33,136

11,045

13,848

1,385

417

5,000

1,000,000

421-a Reserve

NAP

Soft

Springing

Yes

NAP

Antonio Disaverio

Refinance

NAP

Loan

45, 48

Hodge LA MHP Portfolio

1.5%

SMC

NAP

Various

Louisiana

Various

Manufactured Housing

Various

NAP

312

Pads

29,647.44

9,250,000

5.76000%

0.01775%

5.74225%

NAP

45,016.67

NAP

540,200.00

Interest Only

Actual/360

120

5/16/2022

7/6/2022

NAP

6/6/2032

NAP

L(24),D(92),O(4)

1,309,105

308,434

1,000,671

3/31/2022

Various

1,271,496

313,516

957,981

12/31/2021

Various

692,603

140,172

552,431

12/31/2020

Various

92.0%

1,309,105

313,736

995,369

15,600

979,769

1.84

1.81

10.8%

10.6%

17,610,000

As Is

Various

52.5%

92.0%

14,870

2,124

5,479

1,826

1,300

58,666

138,171

Springing

Flood Business Income Reserve

NAP

Springing

Yes

NAP

Kris A. Hodges and Michael Hyatt

Refinance

NAP

23.01

Property

Melanie Rose MHP

0.4%

25.7%

630 Brothers Road

Lafayette

Louisiana

70507

Manufactured Housing

1980

NAP

Pads

2,379,472

326,431

84,536

241,895

3/31/2022

T-12

317,884

83,869

234,015

12/31/2021

T-12

271,075

61,059

210,016

12/31/2020

T-10 Ann

90.5%

326,431

85,797

240,633

3,900

236,733

4,530,000

As Is

4/18/2022

96.2%

5/12/2022

NAP

5/2/2022

NAP

5/2/2022

NAP

Fee

NAP

23.02

Property

Sugar Ridge MHP

0.4%

24.0%

211 East Gloria Switch Road

Lafayette

Louisiana

70507

Manufactured Housing

1980

NAP

Pads

2,221,891

326,231

83,129

243,102

3/31/2022

T-12

326,749

85,630

241,119

12/31/2021

T-12

119,305

29,582

89,723

12/31/2020

T-12

93.0%

326,231

84,006

242,225

3,650

238,575

4,230,000

As Is

4/18/2022

90.4%

5/12/2022

NAP

5/2/2022

NAP

5/2/2022

NAP

Yes - AE

Fee

NAP

23.03

Property

Acadian Acres MHP

0.3%

22.4%

1410 Westgate Road

Lafayette

Louisiana

70506

Manufactured Housing

1980

NAP

Pads

2,074,815

268,705

65,155

203,550

3/31/2022

T-11 Ann

256,304

67,604

188,700

12/31/2021

T-8 Ann

NAV

86.2%

268,705

66,559

202,146

3,650

198,496

3,950,000

As Is

4/18/2022

82.2%

5/12/2022

NAP

5/2/2022

NAP

5/9/2022

NAP

Yes - AE

Fee

NAP

23.04

Property

Twin Oaks MHP

0.2%

15.0%

14054 Highway 44

Gonzales

Ascension

Louisiana

70737

Manufactured Housing

1979

NAP

Pads

1,386,712

224,078

49,074

175,004

3/31/2022

T-12

207,894

50,855

157,039

12/31/2021

T-12

176,090

36,975

139,115

12/31/2020

T-12

95.4%

224,078

50,020

174,058

2,350

171,708

2,640,000

As Is

4/22/2022

97.9%

5/12/2022

NAP

5/2/2022

NAP

5/4/2022

NAP

Yes - A

Fee

NAP

23.05

Property

Anita Park MHP

0.2%

12.8%

115 St. Barnabas Street

Broussard

Lafayette

Louisiana

70518

Manufactured Housing

1984

NAP

Pads

1,187,110

163,660

26,540

137,120

3/31/2022

T-12

162,665

25,556

137,109

12/31/2021

T-12

126,134

12,557

113,577

12/31/2020

T-12

98.4%

163,660

27,354

136,306

2,050

134,256

2,260,000

As Is

4/18/2022

97.6%

5/12/2022

NAP

5/2/2022

NAP

5/2/2022

NAP

Yes - AE

Fee

NAP

Loan

Valcour Industrial

1.4%

100.0%

BMO

NAP

8500 Valcour Avenue

St. Louis

Missouri

63123

Industrial

Warehouse/Distribution

1961

2004

490,000

18.71

9,170,000

8,526,868

5.55000%

0.01775%

5.53225%

52,354.28

43,000.30

628,251.36

516,003.60

Interest Only, Amortizing Balloon

Actual/360

120

360

5/19/2022

7/6/2022

7/6/2027

6/6/2032

NAP

L(24),D(92),O(4)

1,888,710

630,276

1,258,434

3/31/2022

T-12

1,869,312

599,843

1,269,469

12/31/2021

T-12

1,863,317

635,181

1,228,136

12/31/2020

T-12

95.0%

1,896,175

731,694

1,164,481

49,000

122,500

992,981

1.85

1.58

12.7%

10.8%

13,100,000

As Is

1/25/2022

70.0%

65.1%

100.0%

3/2/2022

Schroeder & Tremayne, Inc.

296,123

60.4%

12/31/2025

Miss Elaine, Inc.

193,877

39.6%

12/31/2024

NAP

2/18/2022

NAP

2/18/2022

NAP

Fee

NAP

232,423

29,053

83,394

7,581

6,125

220,500

12,250

441,000

3,850

NAP

Hard

Springing

Yes

NAP

Michael J. Roberts and Thomas E. Roberts

Refinance

NAP

Loan

8, 50, 51, 52, 53, 54

360 Rosemary

1.3%

100.0%

BMO

NAP

360 South Rosemary Avenue

West Palm Beach

Palm Beach

Florida

33401

Office

CBD

2021

NAP

313,002

271.56

8,000,000

3.95000%

0.01775%

3.93225%

NAP

26,699.07

NAP

320,388.89

Interest Only

Actual/360

120

116

120

116

1/18/2022

3/6/2022

NAP

2/6/2032

NAP

YM3(28),DorYM3(85),O(7)

NAV

95.0%

23,655,523

8,490,851

15,164,673

46,950

313,002

14,804,720

4.45

4.35

17.8%

17.4%

319,000,000

As Stabilized

12/1/2023

26.6%

95.9%

12/1/2021

New Day

56,048

17.9%

12/31/2032

Goldman Sachs

39,757

12.7%

9/30/2032

Comvest

39,119

12.5%

3/31/2033

Elliott Mgmt

26,662

8.5%

9/30/2033

Related Southeast

17,707

5.7%

7/31/2032

12/6/2021

NAP

12/6/2021

NAP

Fee

NAP

Springing

45,498,551

Unfunded Obligations Reserve ($42,779,553), Base Building Reserve ($2,718,997.83)

NAP

Hard

Springing

Yes

8,000,000

77,000,000

256,978.59

283,677.66

125,000,000

3.95000%

210,000,000

700,850.69

65.8%

1.76

7.2%

NAP

The Related Companies, L.P.

Refinance

NAP

Loan

8, 55, 56, 57, 58

111 River Street

1.3%

100.0%

BMO

NAP

111 River Street

Hoboken

Hudson

New Jersey

07030

Office

CBD

2002

NAP

557,719

138.96

8,000,000

3.28000%

0.01775%

3.26225%

NAP

22,170.37

NAP

266,044.44

Interest Only

Actual/360

1/21/2022

3/6/2022

NAP

2/6/2027

NAP

L(28),D(27),O(5)

18,437,368

8,508,847

9,928,521

10/31/2021

T-12

18,375,164

8,607,905

9,767,259

12/31/2020

T-12

18,104,302

9,321,649

8,782,654

12/31/2019

T-12

82.1%

22,541,072

9,445,383

13,095,689

5.08

16.9%

244,000,000

As Is

11/15/2021

31.8%

82.6%

1/1/2022

John Wiley & Sons Inc.

293,633

52.6%

3/31/2033

Sumitomo Mitsui Trust Bank

38,134

6.8%

1/31/2024

Crunch Holdings LLC

21,196

3.8%

8/31/2029

Burgiss Group LLC The

19,018

3.4%

11/30/2026

Educationdynamics LLC

18,063

3.2%

8/31/2029

12/21/2021

NAP

10/26/2021

NAP

Yes - AE

Leasehold

9/30/2098

None

1,502,800

Yes

122,519

138,561

177,648

Springing

700,000

Springing

13,900,000

Springing

2,360,000

1,469,000

165,616

Significant Tenant Rent Replication Reserve (Upfront: $1,258,196.33), Ground Rent Reserve (Upfront: $165,615.50; Monthly: $165,615.50), Free Rent Reserve (Upfront: $45,188)

NAP

Hard

Springing

Yes

8,000,000

69,500,000

192,605.09

214,775.46

76,250,000

3.28000%

153,750,000

426,086.80

63.0%

2.56

8.5%

NAP

Steven J. Pozycki and David Werner

Yes

Acquisition

NAP

Loan

8, 59, 60, 61, 62

2 Riverfront Plaza

1.2%

100.0%

BMO

NAP

826-836 McCarter Highway

Newark

Essex

New Jersey

07102

Office

CBD

2014

NAP

337,543

325.88

7,500,000

4.26000%

0.01775%

4.24225%

NAP

26,994.79

NAP

323,937.48

Interest Only

Actual/360

120

115

120

115

12/8/2021

2/6/2022

NAP

1/6/2032

NAP

L(29),D(86),O(5)

14,216,116

3,570,855

10,645,261

9/30/2021

T-12

14,024,713

3,511,314

10,513,398

12/31/2020

T-12

14,106,430

3,763,916

10,342,514

12/31/2019

T-12

95.0%

13,859,362

3,558,666

10,300,695

67,509

506,315

9,726,872

2.17

2.05

9.4%

8.8%

182,200,000

As Is

11/12/2021

60.4%

100.0%

6/6/2022

Yes

Panasonic Corporation of North America

337,543

100.0%

4/30/2031

NAP

11/18/2021

NAP

11/19/2021

NAP

Fee

NAP

Springing

5,626

135,017

42,193

NAP

Hard

Springing

Yes

7,500,000

102,500,000

368,928.82

395,923.61

NAP

110,000,000

395,923.61

60.4%

2.05

9.4%

NAP

Arch Street Capital Advisors

NAP

Refinance

NAP

Loan

1267 1st Avenue & 4334 Katonah Avenue

1.1%

CREFI

NAP

Various

New York

Various

New York

Various

Mixed Use

Multifamily/Retail

Various

23,185

312.70

7,250,000

5.65000%

0.01775%

5.63225%

NAP

34,609.52

NAP

415,314.24

Interest Only

Actual/360

120

119

120

119

5/5/2022

6/6/2022

NAP

5/6/2032

NAP

L(25),D(91),O(4)

853,625

327,637

525,988

3/31/2022

T-12

814,186

324,186

490,000

12/31/2021

T-12

761,246

315,592

445,654

12/31/2020

T-12

95.0%

1,000,068

312,336

687,732

7,616

20,085

660,031

1.66

1.59

9.5%

9.1%

12,150,000

As Is

Various

59.7%

100.0%

97,589

19,518

3,985

1,992

635

1,674

86,188

30,000

Certificate of Occupancy Reserve

NAP

Springing

Yes

NAP

David Massey and Noreen Fleming

Refinance

NAP

28.01

Property

1267 1st Avenue

0.8%

65.5%

1267 1st Avenue

New York

10065

Mixed Use

Multifamily/Retail

1910

1985

7,375

4,750,000

509,607

230,660

278,947

3/31/2022

T-12

485,436

228,717

256,719

12/31/2021

T-12

442,873

220,276

222,597

12/31/2020

T-12

95.0%

635,785

204,381

431,404

2,613

11,858

416,933

8,100,000

As Is

4/8/2022

100.0%

4/1/2022

LA Gourmet

1,838

24.9%

10/31/2028

NAP

4/13/2022

NAP

4/13/2022

NAP

Fee

NAP

28.02

Property

4334 Katonah Avenue

0.4%

34.5%

4334 Katonah Avenue

New York

Bronx

New York

10470

Mixed Use

Multifamily/Retail

1991

NAP

15,810

2,500,000

344,018

96,977

247,041

3/31/2022

T-12

328,750

95,469

233,282

12/31/2021

T-12

318,373

95,316

223,057

12/31/2020

T-12

95.0%

364,283

107,955

256,328

5,003

8,227

243,098

4,050,000

As Is

4/5/2022

100.0%

4/1/2022

Rosmuk INC

3,720

23.5%

7/31/2026

Prime Cuts

3,720

23.5%

9/30/2028

Linda Pizza

1,860

11.8%

11/30/2029

Woodlawn (Smoth shop)

930

5.9%

5/31/2031

NAP

4/13/2022

NAP

4/13/2022

NAP

Fee

NAP

Loan

Huntley Park Industrial

0.9%

100.0%

CREFI

NAP

5040 West Tharpe Street

Tallahassee

Leon

Florida

32303

Industrial

Flex

2006

NAP

65,119

85.61

5,575,000

5.71000%

0.01775%

5.69225%

NAP

26,896.15

NAP

322,753.80

Interest Only

Actual/360

120

119

120

119

5/5/2022

6/6/2022

NAP

5/6/2032

NAP

L(25),YM1(91),O(4)

922,614

207,297

715,317

2/28/2022

T-12

919,542

215,956

703,585

12/31/2021

T-12

956,629

210,422

746,207

12/31/2020

T-12

95.0%

925,904

354,799

571,105

9,117

24,420

537,568

1.77

1.67

10.2%

9.6%

10,100,000

As Is

2/1/2022

55.2%

100.0%

2/1/2022

Department of Revenue (FL)

26,744

41.1%

4/30/2033

State of Florida Fire Marshall DFS

7,500

11.5%

4/30/2026

ERC

7,500

11.5%

12/5/2025

O.H. Industries Inc.

7,500

11.5%

10/31/2023

Auto Dealers Wholesale

6,500

10.0%

7/1/2025

3/9/2022

NAP

3/8/2022

NAP

Fee

NAP

30,140

3,767

Springing

760

27,360

300,000

4,070

244,196

NAP

Hard

Springing

Yes

NAP

Abhishek Mathur and Brian C. Adams

Yes

Acquisition

NAP

Loan

47, 64

9615 Spring Green Boulevard

0.6%

100.0%

SMC

NAP

9615 Spring Green Boulevard

Katy

Fort Bend

Texas

77494

Retail

Unanchored

2020

NAP

13,701

262.75

3,600,000

5.25000%

0.05775%

5.19225%

NAP

15,968.75

NAP

191,625.00

Interest Only

Actual/360

120

118

120

118

4/1/2022

5/6/2022

NAP

4/6/2032

NAP

L(26),D(89),O(5)

NAV

95.0%

512,753

123,109

389,644

2,740

20,000

366,904

2.03

1.91

10.8%

10.2%

6,100,000

As Is

3/9/2022

59.0%

100.0%

3/1/2022

Chicken Salad Chick

2,800

20.4%

6/30/2025

Mi Lash Studio

2,050

15.0%

12/31/2026

Enchanted Escape Nail Spa

2,012

14.7%

4/30/2027

PNC Bank, N.A.

2,000

14.6%

9/30/2030

Salty Dawg

2,000

14.6%

11/30/2026

3/16/2022

NAP

3/16/2022

NAP

Fee

NAP

22,436

5,609

330

Springing

228

1,667

100,000

177,760

Outstanding Tenant Improvements Reserve ($137,760); Tenant Occupancy Reserve ($40,000)

NAP

Springing

Yes

NAP

Richard Neil Rainer and Clayton Lee McDaniel

Refinance

NAP

Loan

CityLine Midtown Self Storage

0.4%

100.0%

CREFI

NAP

3429 Troost Avenue

Kansas City

Jackson

Missouri

64109

Self Storage

1910

1993

31,646

86.27

2,730,000

2,478,327

5.21000%

0.01775%

5.19225%

15,007.60

12,017.37

180,091.20

144,208.44

Interest Only, Amortizing Balloon

Actual/360

120

119

360

4/14/2022

6/6/2022

6/6/2026

5/6/2032

NAP

L(25),D(91),O(4)

428,833

108,405

320,428

2/28/2022

T-12

426,839

105,562

321,277

12/31/2021

T-12

401,337

113,131

288,206

12/31/2020

T-12

93.6%

428,833

179,325

249,507

3,165

246,343

1.39

1.37

9.1%

9.0%

4,020,000

As Is

3/14/2022

67.9%

61.6%

96.3%

2/28/2022

NAP

2/15/2022

3/31/2022

2/15/2022

NAP

Fee

NAP

6,166

1,028

Springing

11,687

264

38,313

NAP

Springing

Yes

NAP

George Thacker, Lawrence Charles Kaplan and Richard Schontz

Acquisition

Yes

NAP

Loan

CVS Ashland Road

0.3%

100.0%

SMC

NAP

755 Ashland Road

Mansfield

Richland

Ohio

44905

Retail

Single Tenant

1999

NAP

10,125

199.57

2,025,000

2,020,667

1,680,201

5.28000%

0.01775%

5.26225%

11,219.78

NAP

134,637.36

NAP

Amortizing Balloon

Actual/360

120

118

360

358

3/24/2022

5/6/2022

4/6/2032

NAP

L(26),D(90),O(4)

NAV

98.0%

181,300

5,439

175,861

1.31

8.7%

3,250,000

As Is

2/8/2022

62.2%

51.7%

100.0%

6/6/2022

Yes

CVS

10,125

100.0%

1/31/2033

NAP

2/23/2022

NAP

2/23/2022

NAP

Fee

NAP

Springing

NAP

Springing

Yes

NAP

Dennis Townsend

Refinance

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 (%) reflects 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.

(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)	The Cut-off Date Balance ($) reflects only the Mortgage Loan included in the Issuing Entity (which may be evidenced by one or more promissory notes); however, such Mortgage Loan is part of a whole loan comprised of such Mortgage Loan and one or more Pari Passu Companion Loan(s) and/or Subordinate Companion Loan(s) that are held outside the Issuing Entity, each of which is evidenced by one or more separate promissory notes. With respect to each such Mortgage Loan that is part of a whole loan, the Cut-off Date LTV Ratio (%), LTV Ratio at Maturity / ARD (%), Underwritten NCF DSCR (x), Underwritten NOI Debt Yield (%), Underwritten NCF Debt Yield (%) and Loan Per Unit ($) calculations include any related Pari Passu Companion Loan(s) but exclude any related Subordinate Companion Loan(s). See “Description of the Mortgage Pool—The Whole Loans” in the Preliminary Prospectus for additional information regarding the whole loan(s).

(9)	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.

(10)	The mortgage loan was co-originated by Bank of Montreal, Citi Real Estate Funding Inc., and Starwood Mortgage Capital LLC.

(11)	The Yorkshire Towers Mortgaged Property has 681 residential units, and six commercial and retail units totaling 645,092 SF, and the Lexington Towers Mortgaged Property has 127 residential units and six commercial units totaling 125,186 SF.

(12)	The lockout period will be at least 24 payment dates beginning with and including the first payment date in July 2022. Defeasance of the Whole Loan is permitted at any time after the earlier to occur of (i) two years after the closing date of the securitization that includes the last promissory note to be securitized and (ii) July 6, 2025. The assumed defeasance lockout period of 24 payment dates is based on the expected CGCMT 2022-GC48 securitization closing date in June 2022. The actual lockout period may be longer.

(13)	The UW NOI is greater than Most Recent NOI due in part to (i) the borrower sponsors recently renovating 57 units, which has increased rents at the Yorkshire & Lexington Towers Properties, (ii) underwritten straight-lined rent for CVS Pharmacy and (iii) disbursements from the Supplemental Income Reserve of $5,226,004.

(14)	The Underwritten NOI DSCR (x), Underwritten NCF DSCR (x), Underwritten NOI Debt Yield (%) and Underwritten NCF Debt Yield (%) were calculated based on the UW NOI and UW NCF including disbursements of $5,226,004 from a Supplemental Income Reserve.

(15)	The borrowers were required to reserve $5,900,000 at origination for a Supplemental Income Reserve for the projected shortfall between the underwritten net cash flow and the cash flow required to achieve a 5.00% debt yield.

(16)	The lender may require the borrowers to make additional Supplemental Income Reserve deposits if and to the extent the lender determine, in its reasonable discretion on a quarterly basis on and after May 6, 2023, that additional Supplemental Income Reserve deposits are required in order to achieve (when the additional deposit and all other deposits in the Supplemental Income Reserve account are added to net cash flow for the Mortgaged Properties) a 5.00% transient Total Debt debt yield for the following 12, 9, 6 or 3 months (such applicable 12, 9, 6 or 3- month period depending on the quarter with respect to which such determination by the lender is made). The guarantors provided a related carry guaranty of certain carry costs, including real estate taxes, insurance premiums, debt service and operating expenses, for the period until the Yorkshire & Lexington Towers Mortgaged Properties achieve a 5.00% transient debt yield (excluding the amount on deposit in the supplemental income reserve). The obligations of the guarantors under such carry guaranty are limited to the additional supplemental income reserve deposit amount as and when due.

(17)	Concurrently with the funding of the Whole Loan, Bank of Montreal and Citigroup Global Markets Realty Corp., co-originated four mezzanine loans, in the total amount of $174,500,000. The mezzanine A loan in the amount of $80,000,000 is secured by the mezzanine A borrower’s interests in the borrowers, as collateral for the mezzanine A loan. The mezzanine A loan is coterminous with the Whole Loan, accrues interest at a rate of 5.80000% per annum and requires interest-only payments until its maturity date. The mezzanine B loan in the amount of $23,100,000 is secured by the mezzanine B borrower’s interests in the borrowers, as collateral for the mezzanine B loan. The mezzanine B loan is coterminous with the Whole Loan, accrues interest at a rate of 7.14000% per annum and requires interest-only payments until its maturity date. The mezzanine C loan in the amount of $25,000,000 is secured by the mezzanine C borrower’s interests in the borrowers, as collateral for the mezzanine C loan. The mezzanine C loan is coterminous with the Whole Loan, accrues interest at a rate of 8.00000% per annum and requires interest-only payments until its maturity date. The mezzanine D loan in the amount of $46,400,000 is secured by the mezzanine D borrower’s interests in the borrowers, as collateral for the mezzanine D loan. The mezzanine D loan is coterminous with the Whole Loan, accrues interest at a rate of 9.46185345% per annum and requires interest-only payments until the maturity date.

(18)	The Ongoing Replacement Reserve ($) is an FF&E reserve in an amount equal to (i) for the payment dates in June 2022 through March 2023, approximately $76,706 and (ii) thereafter from April through March of each 12-month period while the Mortgage Loan remains outstanding, the greater of (a) the monthly amount required to be reserved pursuant to the franchise agreement (if applicable) or (b) 1/12th of 4% of the operating income of the Mortgaged Property as of the end of each calendar year.

(19)	The Mortgaged Property is an unflagged boutique hotel managed by an owner-affiliated manager, Coastal Hospitality Corp., pursuant to a management agreement expiring in May 2032. There are no extension options.

(20)	The Mortgage Loan is part of a whole loan that was co-originated by Citi Real Estate Funding Inc., Wells Fargo Bank, National Association, and JPMorgan Chase Bank, National Association.

(21)	The lockout period will be at least 25 payment dates beginning with and including the first payment date in June 2022. Defeasance of the Whole Loan in full is permitted at any time following the earlier to occur of (i) April 29, 2026 or (ii) the date that is two years from the closing date of the securitization that includes the last pari passu note to be securitized. The assumed lockout period of 25 payments is based on the expected CGCMT 2022-GC48 securitization closing date in June 2022. The actual lockout period may be longer.

(22)	The Second Largest Tenant, CapGemini America, Inc. leases 21,500 SF of space that expires on January 31, 2027, and 43,000 SF of space that expires on September 30, 2027. CapGemini America, Inc. has a one-time right to terminate its lease with respect to approximately 66.7% of its space effective October 13, 2024 upon 12 months’ prior notice and payment of a termination fee. If CapGemini America, Inc does not exercise such option, it is entitled to an approximately $250,833 per month rent credit for the two months following the date such termination option would become effective.

(23)	The Largest Tenant, The New School, currently subleases a portion of the 18th floor totaling 8,820 SF to Gene Kaufman Architect, P.C., which sublease expires December 31, 2022.

(24)	The Largest Tenant at the 80 Monroe Avenue Mortgaged Property, GSA, leases 2,962 SF of space that expires on May 19, 2027, 65,916 SF of space that expires on May 18, 2031, which has an additional five years of non-firm term, and 20,211 SF that expires August 15, 2031. GSA has the right to terminate its lease with respect to approximately 4.2% of the total GLA space at the Sunbelt Office Portfolio Properties effective any time on or after August 15, 2026 upon at least 90 days’ prior notice. GSA has the right to terminate its lease with respect to at least 9.3% of the total GLA space at the Sunbelt Office Portfolio Properties effective at any time on or after May 18, 2031 upon 120 days’ prior notice. GSA may also exercise one, 5 year renewal option with respect to at least 9.3% of the total GLA space at the Sunbelt Office Portfolio Properties.

(25)	The increase from the Most Recent NOI ($) to Underwritten Net Operating Income ($) is primarily attributable to potential income from vacant space and reimbursements.

(26)	The borrower deposited approximately $3,150,000 into the Upfront TI/LC reserve at origination of the Mortgage Loan, provided the lender may require the borrower to deposit an additional $2,000,000 into such reserve within two business days of written notice from lender (for a total required deposit of $5,150,000) in the event for any reason the lender is unable to draw on an existing $2,000,000 tenant letter of credit delivered by a tenant to borrower under such tenant’s lease, and deposited by borrower with the lender (the “Existing Tenant Letter of Credit”) upon an event of default under the Mortgage Loan documents, whether the lender’s inability to draw upon the Existing Tenant Letter of Credit is due to a refusal or undue delay by the issuing bank, any termination, cancellation, or other unavailability of the Existing Tenant Letter of Credit, the absence of the right to draw such Existing Tenant Letter of Credit pursuant to the terms and conditions of such tenant’s lease, or for any other reason whatsoever.

(27)	The Mortgage Loan is part of a whole loan that was co-originated by Citi Real Estate Funding Inc., Bank of Montreal and Barclays Capital Real Estate Inc.

(28)	The lockout period will be at least 25 payment dates beginning with and including the first payment date in June 2022. Defeasance of the Whole Loan in full is permitted at any time following the earlier to occur of (i) April 8, 2026 or (ii) the date that is two years from the closing date of the securitization that includes the last pari passu note to be securitized. The assumed lockout period of 25 payments is based on the expected CGCMT 2022-GC48 securitization closing date in June 2022. The actual lockout period may be longer.

(29)	The increase from the Most Recent NOI ($) to Underwritten Net Operating Income ($) is primarily attributable to potential income from vacant space and contractual rent steps.

(30)	The borrower is required to deposit into a put price reserve, on a monthly basis, from the payment date occurring in July 2024 through and including the payment date in June 2026, an amount equal to approximately $82,130; provided that such obligation may be satisfied upon delivery to lender of a letter of credit in an amount not less than the amount sufficient to pay to HTC Investor all amounts due and payable in connection with the exercise of the Put Option, which letter of credit serves as additional collateral for the Whole Loan for so long as such letter of credit remains outstanding.

(31)	The Mortgaged Property is managed by DT Management LLC (a 100% owned subsidiary of Hilton Worldwide, Inc.) pursuant to a management contract expiring in December 2035 (plus two, 10-year extension options by mutual agreement).

(32)	The Mortgage Loan is secured by both the fee interest owned by the borrower, DT Ontario Hotel Partners LLC, and the leasehold interest owned by DT Ontario Hotel Partners Lessee LLC, pursuant to an operating lease. The Mortgaged Property is leased in its entirety by the fee owner, DT Ontario Hotel Partners LLC, to DT Ontario Hotel Partners Lessee LLC.

(33)	The Mortgage Loan is structured with an anticipated repayment date ("ARD") of January 6, 2032 and a final maturity date of January 6, 2035. After the ARD, the interest rate will increase by 3.0% over the greater of (x) 2.77600% and (y) the term SOFR rate in effect on the ARD, pursuant to the Whole Loan documents.

(34)	The Largest Tenant, CoreSite, subleases 10,848 SF expiring on July 31, 2029 ($105.88 PSF) from GI TC One Wilshire Services, a borrower sponsor affiliate, which brings its total footprint at the Mortgaged Property to 187,533 SF.

(35)	The Third Largest Tenant, Verizon Global Networks (inclusive of affiliated tenant leases), leases (i) 24,283 SF expiring July 31, 2029, (ii) 18,835 SF expiring December 14, 2026, (iii) 7,905 SF expiring December 14, 2023, (iv) 4,698 SF expiring August 21, 2030, (v) 3,907 SF expiring July 15, 2025, (vi) 2,253 SF expiring April 30, 2025 and (vii) antenna space expiring July 31, 2022. The Fourth Largest Tenant, CenturyLink Communications, LLC (inclusive of affiliated tenant leases), leases (i) 35,925 SF expiring December 31, 2025, (ii) 10,318 SF expiring April 30, 2023 and (iii) 10,008 SF expiring November 30, 2026.

(36)	The Fourth Largest Tenant, CenturyLink Communications, LLC, has the one-time right to reduce its space by 7,445 SF on June 30, 2023 with nine months' notice and payment of a reduction fee.

(37)	The Mortgage Loan is part of a whole loan that was co-originated by Citi Real Estate Funding Inc. and Barclays Capital Real Estate Inc.

(38)	The increase from the Most Recent NOI ($) to Underwritten Net Operating Income ($) is primarily attributable to incremental new leasing at the Mortgaged Properties (Rocktown Games, City Gear, Buddy’s Home Furnishings), reduction of underwritten repairs and maintenance expenses, and reduction of underwritten contractual management fee to 3.0% (management fee during the trailing 12-month period was 5.3%).

(39)	The Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) are based on the "as-is" portfolio appraised value inclusive of an approximately 2.3% portfolio premium. The Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) calculated based on the aggregate "as-is" appraised values of $32,360,000, are both 65.9%.

(40)	The Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) are based on the "as-is" portfolio appraised value inclusive of an approximately 2.2% portfolio premium. The Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) calculated based on the aggregate "as-is" appraised values of $31,100,000, are both 67.1%.

(41)	The lockout period will be at least 25 payment dates beginning with and including the first payment date of June 2022. Defeasance of the Mortgage Loan in full is permitted at any time following the earlier to occur of (i) April 21, 2025 and (ii) the date that is two years from the closing date of the securitization that includes the last pari passu note to be securitized. The assumed lockout period of 25 months is based on the expected CGCMT 2022-GC48 securitization closing date in June 2022. The actual lockout period may be longer.

(42)	The increase from the Most Recent NOI ($) to Underwritten Net Operating Income ($) is primarily attributable to contractual rent steps and reimbursements.

(43)	The Largest Tenant at the Mortgaged Property, American Plus Bank, N.A., leases 6,800 square feet with a lease expiration date of October 31, 2026 and another 1,659 square feet with a lease expiration date of October 31, 2023.

(44)	The increase from Most Recent NOI ($) to Underwritten Net Operating Income ($) is primarily attributable to nine new leases, totaling $221,425 in underwritten base rent. The leases commenced in 2022 and were not fully captured in the Most Recent NOI ($) period.

(45)	The allocated loan amounts were allocated based on the appraised values of the Mortgaged Properties.

(46)	The borrower acquired the Mortgaged Properties in 2020. Financial information for 2019 was not provided by the seller for Fountain Horse MHP. Additionally, financial information for 2020 for Spring & Stone Manor represents the trailing nine months ending December 2020 annualized. Financial information for 2020 for Windsor Castle MHP represents the trailing seven months ending December 2020 annualized.

(47)	Due to the recent construction and lease-up of the mortgaged property, historical financial information is not available.

(48)	The borrower acquired the Mortgaged Properties between December 2019 and May 2021. Financial information for 2019 was not available for the Mortgaged Properties. Additionally, financial information for 2020 was not provided by the seller for Acadian Acres MHP. For Acadian Acres MHP, financial information for 2021 and the most recent period represents the trailing eight months ending December 2021 annualized and the trailing 11 months ending March 2022 annualized, respectively. Financial information for 2020 for Melanie Rose MHP represents the trailing ten months ending December 2020 annualized.

(49)	The borrower is required to make Monthly Debt Service ($) payments of (i) from the first payment date of July 6, 2022, up to and including the payment date on June 6, 2027, interest only, and (ii) from July 6, 2027 and thereafter amortization payments until loan maturity.

(50)	The defeasance lockout period will be at least 28 payment dates beginning with and including the first payment date in March 2022. Defeasance of the Whole Loan is permitted at any time after the earlier to occur of (i) two years after the closing date of the securitization that includes the last promissory note to be securitized and (ii) January 18, 2025. The assumed defeasance lockout period of 28 payment dates is based on the expected CGCMT 2022-GC48 securitization closing date in June 2022. The actual lockout period may be longer.

(51)	New Day has executed a lease but has not yet taken occupancy for 3,749 square feet of its leased premises.

(52)	Related Southeast has executed a lease but has not yet taken occupancy for 17,707 square feet of its leased premises.

(53)	Comvest has executed a lease but has not yet taken occupancy for 39,119 square feet of its leased premises.

(54)	The Appraised Value represents the “as-stabilized” value of $319,000,000 for the property, effective December 1, 2023, which assumes the upfront reserve will cover the costs associated with the completion of the remaining tenant improvements. At origination, the borrower was required to reserve $42,779,553 for the Unfunded Obligations Reserve and $2,718,997.83 for the Base Building Reserve. The “as-is” appraised value for the Mortgaged Property is $245,000,000, which results in a Current LTV % of 34.7% and a Maturity LTV % of 34.7%.

(55)	The lockout period will be at least 28 payment dates beginning with and including the first payment date in March 2022. Defeasance of the Whole Loan is permitted at any time after the earlier to occur of (i) two years after the closing date of the securitization that includes the last promissory note to be securitized and (ii) January 21, 2026. The assumed defeasance lockout period of 28 payment dates is based on the expected CGCMT 2022-GC48 securitization closing date in June 2022. The actual lockout period may be longer.

(56)	The increase from Most Recent NOI to UW NOI at the Mortgaged Property is primarily attributable to recently executed leases.

(57)	The mortgaged property is not subject to the imposition or payment of taxes during the term of the ground lease, provided that, in lieu thereof, the borrower is required to pay to the City of Hoboken, New Jersey, in equal quarterly installments, the annual PILOT rent, which is the product of the applicable PILOT rate (as increased) and the applicable number of development square feet. The initial applicable PILOT rate was set at $2.00 PSF and increased by 2.75% compounded annually with increases effective every five years. Starting in May 2022 the PILOT rate will increase yearly by the greater of (i) 2.00% and (ii) the increase in the tax rate for Hudson County. The borrower has the right at any time to have the Mortgaged Property placed on the tax rolls and become subject to the payment of ad valorem real estate taxes (at which time, the borrowers’ obligation to make the annual PILOT rent payments will cease); however, pursuant to the Whole Loan documents, the borrower has agreed to not make any such election to have the Mortgaged Property placed on the tax rolls or to otherwise cause, permit or suffer the Mortgaged Property (or any portion thereof) to become subject to the payment of ad valorem real estate taxes. If not earlier terminated, the PILOT is co-terminus with the ground lease (expiring September 30, 2098).

(58)	The borrower was required to reserve $1,258,196.33 at origination for the Significant Tenant Rent Replication Reserve, representing the rent difference paid by John Wiley & Sons Inc. between the time of closing and the John Wiley & Sons Inc. April 2023 rent step, released monthly through the cash management waterfall.

(59)	The lockout period will be at least 29 payment dates beginning with and including the first payment date in February 2022. Defeasance of the Whole Loan is permitted at any time after the earlier to occur of (i) two years after the closing date of the securitization that includes the last promissory note to be securitized and (ii) December 8, 2024. The assumed defeasance lockout period of 29 payment dates is based on the expected CGCMT 2022-GC48 securitization closing date in June 2022. The actual lockout period may be longer.

(60)	The Largest Tenant, Panasonic Corporation of North America, subleases 37,155 of its 337,534 square feet of space to KS Engineers.

(61)	The Largest Tenant, Panasonic Corporation of North America, subleases 37,155 square feet of space that expires on April 29, 2031.

(62)	There is no separate Carveout Guarantor.

(63)	The 1267 1st Avenue Mortgaged Property is comprised of 7,375 SF, which is comprised of 1,838 SF of retail space and 8 multifamily units. The 4334 Katonah Avenue Mortgaged Property is comprised of 15,810 SF, which is comprised of 10,230 SF of retail space and 6 multifamily units.

(64)	The Fourth Largest Tenant at the Mortgaged Property, PNC Bank, N.A., has a one-time option to terminate its lease effective after the end of September 2027 with 12 months' written notice. In the event the termination option is exercised, PNC Bank, N.A is required to pay to a fee equal to the total of (i) the unamortized balance of the commissions paid to landlord's broker and tenant's broker and (ii) one full year of the then current minimum rental, additional rental, water and trash due and payable.

(65)	Due to the single tenant nature of the Mortgaged Property, historical financial information is not available.