0001539497-23-000792.txt : 20230502 0001539497-23-000792.hdr.sgml : 20230502 20230502105904 ACCESSION NUMBER: 0001539497-23-000792 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 0001258361 FILED AS OF DATE: 20230502 DATE AS OF CHANGE: 20230502 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Benchmark 2023-V2 Mortgage Trust CENTRAL INDEX KEY: 0001970781 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-262701-03 FILM NUMBER: 23877242 BUSINESS ADDRESS: STREET 1: 390 GREENWICH STREET CITY: NEW YORK STATE: NY ZIP: 10013 BUSINESS PHONE: 2128165343 MAIL ADDRESS: STREET 1: 390 GREENWICH STREET CITY: NEW YORK STATE: NY ZIP: 10013 FORMER COMPANY: FORMER CONFORMED NAME: FIVE 2023-V2 Mortgage Trust DATE OF NAME CHANGE: 20230323 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC CENTRAL INDEX KEY: 0001258361 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 861073506 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 390 GREENWICH STREET CITY: NEW YORK STATE: NY ZIP: 10013 BUSINESS PHONE: 2128165343 MAIL ADDRESS: STREET 1: 390 GREENWICH STREET CITY: NEW YORK STATE: NY ZIP: 10013 FWP 1 n3566_premktanxa1-x1.htm FREE WRITING PROSPECTUS

 

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-262701-03
     

 

 

FREE WRITING PROSPECTUS, DATED May [1], 2023

 

The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-262701) for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the depositor or Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, BMO Capital Markets Corp., Barclays Capital Inc., Drexel Hamilton, LLC, Siebert 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 servicer, the trustee, the certificate administrator, the operating advisor, the asset representations reviewer, the controlling class representative, any risk retention consultation parties, the companion loan holders (or their representatives), the underwriters or any of their respective affiliates.  Neither such securities nor the underlying mortgage loans are insured or guaranteed by any governmental agency or instrumentality or private insurer.

Any legends, disclaimers or other notices that may appear at the bottom of the email communication to which this free writing prospectus is attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) no representation being made that these materials are accurate or complete and that these materials may not be updated or (3) these materials possibly being confidential, are, in each case, not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.

 

 

 

 

 

 

BMARK 2023-V2

 
                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                                   
Loan ID Number Loan / Property Flag Footnotes (for Loan and Property Information) # of Properties Property Name % of Initial Pool Balance % of Loan Balance Mortgage Loan Originator Mortgage Loan Seller Related Group Crossed Group Address City County State Zip Code General Property Type Detailed Property Type Year Built Year Renovated Number of Units Unit of Measure Loan Per Unit ($) Original Balance ($) Cut-off Date Balance ($) Maturity/ARD Balance ($) Interest Rate % Administrative Fee Rate % Net Mortgage Rate % Monthly Debt Service (P&I) ($) Monthly Debt Service (IO) ($) Annual Debt Service (P&I) ($) Annual Debt Service (IO) ($) Amortization Type ARD Loan (Yes / No) Interest Accrual Method Original Interest-Only Period (Mos.) Remaining Interest-Only Period (Mos.) Original Term To Maturity / ARD (Mos.) Remaining Term To Maturity / ARD (Mos.) Original Amortization Term (Mos.) Remaining Amortization Term (Mos.) Origination Date Seasoning (Mos.) Payment Due Date First Payment Date First P&I Payment Date Maturity Date or Anticipated Repayment Date Final Maturity Date Grace Period - Late Fee (Days) Grace Period - Default (Days) Prepayment Provision Most Recent EGI ($) Most Recent Expenses ($) Most Recent NOI ($) Most Recent NOI Date Most Recent Description Second Most Recent EGI ($) Second Most Recent Expenses ($) Second Most Recent NOI ($) Second Most Recent NOI Date Second Most Recent Description Third Most Recent EGI ($) Third Most Recent Expenses ($) Third Most Recent NOI ($) Third Most Recent NOI Date Third Most Recent Description Underwritten Economic Occupancy (%) Underwritten EGI ($) Underwritten Expenses ($) Underwritten Net Operating Income ($) Underwritten Replacement / FF&E Reserve ($) Underwritten TI / LC ($) Underwritten Net Cash Flow ($) Underwritten NOI DSCR (x) Underwritten NCF DSCR (x) Underwritten NOI Debt Yield (%) Underwritten NCF Debt Yield (%) Appraised Value ($) Appraised Value Type Appraisal Date Cut-off Date LTV Ratio (%) LTV Ratio at Maturity / ARD (%) Leased Occupancy (%) Occupancy Date Single Tenant (Y/N) Largest Tenant Largest Tenant SF Largest Tenant % of NRA Largest Tenant Lease Expiration Date Second Largest Tenant Second Largest Tenant SF Second Largest Tenant % of NRA Second Largest Tenant Lease Expiration Date Third Largest Tenant Third Largest Tenant SF Third Largest Tenant % of NRA Third Largest Tenant Lease Expiration Date Fourth Largest Tenant Fourth Largest Tenant SF Fourth Largest Tenant % of NRA Fourth Largest Tenant Lease Expiration Date Fifth Largest Tenant Fifth Largest Tenant SF Fifth Largest Tenant % of NRA Fifth Largest Tenant Lease Expiration Date Environmental Phase I Report Date Environmental Phase II Report Date Engineering Report Date Seismic Report Date PML or SEL (%) Flood Zone Ownership Interest Ground Lease Expiration Date Ground Lease Extension Terms Annual Ground Lease Payment as of the Cut-off Date ($) Annual Ground Rent Increases (Y/N) Upfront RE Tax Reserve ($) Monthly RE Tax Reserve ($) Upfront Insurance Reserve ($) Monthly Insurance Reserve ($) Upfront Replacement / PIP Reserve ($) Monthly Replacement / FF&E Reserve ($) Replacement Reserve Caps ($) Upfront TI/LC Reserve ($) Monthly TI/LC Reserve ($) TI/LC Caps ($) Upfront Debt Service Reserve ($) Monthly Debt Service Reserve ($) Debt Service Reserve Cap ($) Upfront Deferred Maintenance Reserve ($) Upfront Other Reserve ($) Monthly Other Reserve ($) Other Reserve Description Other Reserve Cap ($) Holdback/ Earnout Amount ($) Holdback/ Earnout Description Lockbox Type Cash Management Excess Cash Trap Triggered by DSCR and/or Debt Yield Test (Y/N)  Tenant Specific Excess Cash Trap Trigger (Y/N)  Pari Passu (Y/N) Pari Passu in Trust Controlling (Y/N) Trust Pari Passu Cut-off Date Balance ($) Non-Trust Pari Passu Companion Loan Cut-off Date Balance ($) Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) Total Trust and Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) Subordinate Companion Loan Cut-off Date Balance ($) Subordinate Companion Loan Interest Rate Whole Loan Cut-off Date Balance ($) Whole Loan Monthly Debt Service ($) Whole Loan Cut-off Date LTV Ratio (%) Whole Loan Underwritten NCF DSCR (x) Whole Loan Underwritten NOI Debt Yield (%) Mezzanine Debt Cut-off Date Balance($) Mezzanine Debt Interest Rate (%) Total Debt Cut-off Date Balance ($) Total Debt Monthly Debt Service ($) Total Debt Cut-off Date LTV Ratio (%) Total Debt Underwritten NCF DSCR (x) Total Debt Underwritten NOI Debt Yield (%) Future Additional Debt Permitted (Y/N) Future Debt Permitted Type Sponsor Non-Recourse Carveout Guarantor Delaware Statutory Trust
(Y/N)
Tenants-in-common
(Y/N)
Loan Purpose Property Located Within a Qualified Opportunity Zone (Y/N) Sources: Loan Amount ($) Sources: Principal's New Cash Contribution ($) Sources: Subordinate Debt ($) Sources: Other Sources ($) Sources: Total Sources ($) Uses: Loan Payoff ($) Uses: Purchase Price ($) Uses: Closing Costs ($) Uses: Reserves ($) Uses: Principal Equity Distribution ($) Uses: Other Uses ($) Uses: Total Uses ($) Franchise Agreement Expiration Underwritten ADR ($) Underwritten RevPAR ($) Underwritten Hotel Occupancy (%) Most Recent ADR ($) Most Recent RevPAR ($) Most Recent Hotel Occupancy (%) Second Most Recent ADR ($) Second Most Recent RevPAR ($) Second Most Recent Hotel Occupancy (%) Third Most Recent ADR ($) Third Most Recent RevPAR ($) Third Most Recent Hotel Occupancy (%)
                                                      1   2   2                                       3                                             4 4               5           6       6       6       6       6                                                                                             4             4                 9   7                                              
1 Loan   7 ICP/IRG Holdings Portfolio 8.7%   JPMCB, 3650 REIT JPMCB, 3650 Real Estate Investment Trust 2 LLC NAP NAP Various Various Various Various Various Various Various Various Various 4,662,982 SF 38.60 75,000,000 75,000,000 75,000,000 7.35000% 0.04137% 7.30863% NAP 465,755.21 NAP 5,589,062.52 Interest Only No Actual/360 60 60 60 60 0 0 4/20/2023 0 1 6/1/2023 NAP 5/1/2028 NAP 0 0 L(24),DorYM1(30),O(6) 25,667,400 9,768,107 15,899,293 1/31/2023 T-12 25,431,479 9,747,541 15,683,939 12/31/2022 T-12 NAV NAV NAV NAV NAV 92.9% 28,073,041 8,814,659 19,258,383 (90,159) 707,920 18,640,621 1.44 1.39 10.7% 10.4% 317,250,000 As Is Various 56.7% 56.7% 94.2%                                                                   907,455 247,190 0 Springing 0 58,287 0 3,000,000 Springing 1,830,000 0 0 0 851,224 0 0 NAP 0 0 NAP Hard Springing Yes Yes Yes Yes 75,000,000 105,000,000 652,057.29 1,117,812.50 NAP NAP 180,000,000 1,117,812.50 56.7% 1.39 10.7% NAP NAP NAP NAP NAP NAP NAP No NAP Industrial Commercial Properties and Industrial Realty Group Holdings Ohio, LLC and Christopher Semarjian No Yes Refinance   180,000,000 0 0 0 180,000,000 132,024,335 0 9,870,791 4,758,679 33,346,195 0 180,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
1.01 Property   1 Romulus - Huron 2.2% 25.5%         38481 West Huron River Drive Romulus Wayne Michigan 48174 Industrial Manufacturing/Warehouse 1956 NAP 1,112,004 SF   19,125,000 19,125,000 19,125,000                                                     6,044,161 1,910,668 4,133,493 1/31/2023 T-12 5,982,826 1,888,220 4,094,606 12/31/2022 T-12 NAV NAV NAV NAV NAV 100.0% 5,669,096 1,288,804 4,380,293 (31,885) 150,627 4,261,550         70,700,000 As Is 9/6/2022     100.0% 3/31/2023 No Renaissance Global Logistics, LLC 826,604 74.3% 4/30/2025 Home Depot U.S.A., Inc. 285,400 25.7% 1/31/2025 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/10/2023 NAP 3/29/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
1.02 Property   1 Warren Perkins Jones 2.0% 22.5%         541 Perkins Jones Road Northeast Warren Trumbull Ohio 44483 Industrial Warehouse/Distribution 1982 2022 1,365,535 SF   16,875,000 16,875,000 16,875,000                                                     5,542,599 1,663,702 3,878,897 1/31/2023 T-12 5,423,911 1,658,112 3,765,799 12/31/2022 T-12 NAV NAV NAV NAV NAV 99.2% 5,932,793 1,612,491 4,320,302 (39,154) 148,994 4,210,462         60,900,000 As Is 9/6/2022     99.3% 3/31/2023 No The Step2 Company, LLC 586,000 42.9% 11/3/2030 The HC Companies, Inc. 413,395 30.3% 5/31/2030 Hemasource, Inc. 187,267 13.7% 12/31/2033 Berk Enterprises 169,139 12.4% 10/31/2025 NAP NAP NAP NAP 4/7/2023 NAP 8/26/2022 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
1.03 Property   1 Cleveland American Industrial 1.5% 17.0%         1 American Road Cleveland Cuyahoga Ohio 44144 Industrial Warehouse/Distribution 1978 2022 1,142,265 SF   12,750,000 12,750,000 12,750,000                                                     6,005,883 3,007,758 2,998,125 1/31/2023 T-12 5,889,950 2,982,766 2,907,184 12/31/2022 T-12 NAV NAV NAV NAV NAV 85.3% 6,633,718 2,048,816 4,584,903 (23,645) 177,390 4,431,158         65,800,000 As Is 9/23/2022     85.6% 3/31/2023 No Graphic Packaging International, LLC 173,759 15.2% 11/30/2025 TRG Studios, Inc. 156,523 13.7% 7/31/2031 Taylor Exhibition Services, Inc. 100,773 8.8% 7/31/2027 Inogen, Inc 93,634 8.2% 9/30/2024 American Greetings 90,446 7.9% 6/29/2024 4/7/2023 NAP 3/29/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
1.04 Property   1 Cleveland American Office 1.3% 14.5%         100 American Road Cleveland Cuyahoga Ohio 44144 Office Suburban 1978 2020 344,355 SF   10,875,000 10,875,000 10,875,000                                                     4,736,522 1,681,765 3,054,757 1/31/2023 T-12 4,731,453 1,655,425 3,076,028 12/31/2022 T-12 NAV NAV NAV NAV NAV 100.0% 5,124,002 2,042,870 3,081,132 24,562 100,793 2,955,777         46,600,000 As Is 9/23/2022     100.0% 3/31/2023 Yes Medical Mutual of Ohio 344,355 100.0% 12/31/2035 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/7/2023 NAP 8/29/2022 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
1.05 Property   1 Miles North Randall 1.1% 13.0%         21201 Miles Road North Randall Cuyahoga Ohio 44128 Industrial Warehouse/Distribution 2021 NAP 302,400 SF   9,750,000 9,750,000 9,750,000                                                     1,449,373 1,074,383 374,990 1/31/2023 T-12 1,509,218 1,137,995 371,224 12/31/2022 T-12 NAV NAV NAV NAV NAV 68.3% 2,056,816 1,067,776 989,040 (8,671) 60,694 937,017         39,000,000 As Is 9/2/2022     68.5% 3/31/2023 No Pipeline Packaging Co. 207,132 68.5% 4/30/2029 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/7/2023 NAP 8/29/2022 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
1.06 Property   1 Invacare 0.5% 6.0%         1166 and 1200 Taylor Street and 39400 Taylor Parkway Elyria Lorain Ohio 44035 Industrial Flex 1972, 1980, 1986, 1989, 1991, 1993, 1997 2013 301,000 SF   4,500,000 4,500,000 4,500,000                                                     1,470,641 12,136 1,458,505 1/31/2023 T-12 1,460,849 18,048 1,442,801 12/31/2022 T-12 NAV NAV NAV NAV NAV 100.0% 2,043,114 474,043 1,569,071 (8,631) 43,336 1,534,365         30,100,000 As Is 9/2/2022     100.0% 3/31/2023 Yes Invacare Corporation 301,000 100.0% 4/30/2035 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/10/2023 NAP 4/4/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
1.07 Property   1 Stop Eight Vandalia 0.1% 1.5%         3345 Stop Eight Road Dayton Montgomery Ohio 45414 Industrial Warehouse/Distribution 1970 2020 95,423 SF   1,125,000 1,125,000 1,125,000                                                     418,221 417,695 526 1/31/2023 T-12 433,272 406,975 26,297 12/31/2022 T-12 NAV NAV NAV NAV NAV 100.0% 613,502 279,859 333,643 (2,736) 26,087 310,292         4,150,000 As Is 9/1/2022     100.0% 3/31/2023 No AMERI AmeriWater, LLC 65,057 68.2% 9/24/2025 L&W Supply 30,366 31.8% 5/31/2035 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/10/2023 NAP 8/26/2022 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
2 Loan   2 Austin Multifamily Portfolio 8.7%   CREFI CREFI NAP NAP Various Austin Travis Texas 78753 Multifamily Garden Various 2019-2022 840 Units 130,952.38 75,000,000 75,000,000 75,000,000 7.37000% 0.01578% 7.35422% NAP 467,022.57 NAP 5,604,270.84 Interest Only No Actual/360 60 60 60 60 0 0 4/21/2023 0 6 6/6/2023 NAP 5/6/2028 NAP 0 0 L(24),D(32),O(4) 15,842,006 5,559,308 10,282,697 3/31/2023 T-3 Ann 10,889,433 5,399,051 5,490,382 12/31/2022 T-12 NAV NAV NAV NAV NAV 95.0% 15,971,152 5,778,518 10,192,634 210,000 0 9,982,634 1.24 1.21 9.3% 9.1% 187,000,000 As Is 3/27/2023 58.8% 58.8% 96.0%                                                                   832,492 166,498 0 Springing 0 17,500 0 0 0 0 0 0 0 458,628 0 0 Debt Yield Reserve 0 0 NAP Springing Springing Yes No Yes Yes 75,000,000 35,000,000 217,943.87 684,966.44 NAP NAP 110,000,000 684,966.44 58.8% 1.21 9.3% NAP NAP NAP NAP NAP NAP NAP No NAP Wesley Ivan Keller, Nathan Ivan Keller and Jonathan Sheffield Keller Wesley Ivan Keller, Nathan Ivan Keller and Jonathan Sheffield Keller No No Refinance   110,000,000 0 0 0 110,000,000 84,804,226 0 1,843,610 1,291,119 22,061,044 0 110,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
2.01 Property   1 Starburst Apartments 5.2% 60.0%         8800 North Interstate Highway 35 Austin Travis Texas 78753 Multifamily Garden 1983 2019-2022 504 Units   45,000,000 45,000,000 45,000,000                                                     9,065,128 3,282,686 5,782,442 3/31/2023 T-3 Ann 6,429,614 3,276,271 3,153,343 12/31/2022 T-12 NAV NAV NAV NAV NAV 95.0% 9,254,352 3,488,215 5,766,137 126,000 0 5,640,137         113,000,000 As Is 3/27/2023     95.2% 3/17/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/29/2023 NAP 3/29/2023 NAP NAP Yes - AE Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
2.02 Property   1 Orbit Apartments 3.5% 40.0%         8900 North Interstate Highway 35 Austin Travis Texas 78753 Multifamily Garden 1981 2019-2022 336 Units   30,000,000 30,000,000 30,000,000                                                     6,776,878 2,276,623 4,500,255 3/31/2023 T-3 Ann 4,459,819 2,122,780 2,337,039 12/31/2022 T-12 3,533,774 2,183,597 1,350,177 12/31/2021 T-12 95.0% 6,716,800 2,290,303 4,426,498 84,000 0 4,342,498         74,000,000 As Is 3/27/2023     97.0% 3/17/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/29/2023 NAP 3/29/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
3 Loan   1 Cumberland Mall 7.6% 100.0% DBNY, MSBNA, BMO GACC, BMO Group 1 NAP 2860 Cumberland Mall Southeast Atlanta Cobb Georgia 30339 Retail Super Regional Mall 1973 2006-2016 709,318 SF 253.76 65,000,000 65,000,000 65,000,000 7.87000% 0.01578% 7.85422% NAP 432,212.38 NAP 5,186,548.56 Interest Only No Actual/360 60 60 60 60 0 0 4/14/2023 0 1 6/1/2023 NAP 5/1/2028 NAP 0 0 L(24),D(32),O(4) 32,341,156 8,275,516 24,065,640 1/31/2023 T-12 32,192,386 7,869,157 24,323,229 12/31/2022 T-12 30,319,446 7,094,622 23,224,824 12/31/2021 T-12 96.5% 32,871,677 8,090,891 24,780,787 177,330 739,588 23,863,869 1.73 1.66 13.8% 13.3% 368,000,000 As Is 2/28/2023 48.9% 48.9% 98.7% 3/31/2023 No Costco 147,409 20.8% 11/30/2026 Round 1 Bowling & Amusement 83,600 11.8% 2/28/2031 Dick's Sporting Goods 70,984 10.0% 1/31/2031 Forever 21 25,748 3.6% 1/31/2027 H&M 24,655 3.5% 1/31/2032 3/1/2023 NAP 3/1/2023 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 353,853 1,987,019 Springing 1,415,412 0 0 0 0 267,919 0 Gap Rent Reserve 0 0 NAP Hard Springing Yes Yes Yes Yes 65,000,000 115,000,000 764,683.45 1,196,895.83 NAP NAP 180,000,000 1,196,895.83 48.9% 1.66 13.8% NAP NAP NAP NAP NAP NAP NAP No NAP BPR Nimbus LLC BPR Nimbus LLC No No Refinance No 180,000,000 0 0 0 180,000,000 160,491,051 0 1,638,600 2,254,938 15,615,412 0 180,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
4 Loan   1 Harborside 2-3 7.6% 100.0% CREFI, BMO CREFI, BMO NAP NAP 200-210 Hudson Street Jersey City Hudson New Jersey 07311 Office CBD 1930 2021 1,599,029 SF 140.71 65,000,000 65,000,000 65,000,000 5.84000% 0.01578% 5.82422% NAP 320,726.85 NAP 3,848,722.20 Interest Only No Actual/360 60 59 60 59 0 0 4/4/2023 1 6 5/6/2023 NAP 4/6/2028 NAP 0 0 L(25),D(28),O(7) 49,314,096 17,827,217 31,486,880 12/31/2022 T-12 47,450,874 18,047,218 29,403,655 12/31/2021 T-12 44,617,062 18,489,525 26,127,537 12/31/2020 T-12 74.5% 51,753,039 18,582,167 33,170,872 319,806 1,387,420 31,463,647 2.49 2.36 14.7% 14.0% 396,000,000 As Is 2/7/2023 56.8% 56.8% 75.1% 3/22/2023 No MUFG Bank Ltd. 137,076 8.6% 8/31/2029 E-Trade Financial Corporation 132,265 8.3% 1/31/2031 Collectors Universe 130,419 8.2% 11/30/2038 Sumitomo Mitsui Banking 111,605 7.0% 12/31/2036 Arch Insurance Company 106,815 6.7% 5/31/2024 3/24/2023 NAP 3/3/2023 NAP NAP Yes - AE Fee NAP NAP NAP NAP 696,822 696,822 272,774 136,387 8,000,000 26,650 0 15,000,000 Springing 15,000,000 0 0 0 0 40,614,319 0 Sea Wall Repair Reserve ($25,000,000), Unfunded Obligations Reserve ($14,195,734), Elevator Modernization Reserve ($1,418,585.35)  0 0 NAP Hard Springing Yes No Yes Yes 65,000,000 160,000,000 789,481.48 1,110,208.33 NAP NAP 225,000,000 1,110,208.33 56.8% 2.36 14.7% 55,000,000 10.50000% 280,000,000 1,598,142.36 70.7% 1.64 11.8% Yes Mezzanine only permitted in connection with the assumption of the Mortgage Loan and simultaneous repayment of the Mezzanine Loan (Max Combined LTV of 75.0%; Min Combined DSCR of 1.25x; Min Mortgage DSCR of 1.81x; Intercreditor Agreement is required) Mark Karasick and Michael Silberberg Mark Karasick and Michael Silberberg No Yes Acquisition No 225,000,000 119,820,041 74,000,000 49,633,468 468,453,509 0 377,000,000 26,869,593 64,583,916 0 0 468,453,509 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
5 Loan   1 Soho Warehouse 7.3% 100.0% DBRI GACC NAP NAP 1000 South Santa Fe Avenue Los Angeles Los Angeles California 90021 Mixed Use Retail/Hospitality 1917 2019 80,587 SF 781.76 63,000,000 63,000,000 60,247,365 7.82950% 0.01578% 7.81372% 454,805.67 NAP 5,457,668.04 NAP Amortizing Balloon No Actual/360 0 0 60 60 360 360 4/17/2023 0 6 6/6/2023 6/6/2023 5/6/2028 NAP 0 0 L(24),D(23),O(13) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 8,206,077 951,782 7,254,294 56,646 0 7,197,648 1.33 1.32 11.5% 11.4% 114,000,000 As Is 3/8/2023 55.3% 52.8% 100.0% 5/6/2023 Yes LA 1000 Santa Fe, LLC 80,587 100.0% 4/30/2041 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/10/2023 NAP 3/10/2023 3/10/2023 17% No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 0 0 Springing 0 0 0 0 0 0 0 NAP 0 0 NAP Hard Springing Yes Yes No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP James G. Dinan and Daniel A. Schwartz Gerard Alexander Sponsor LLC No No Refinance No 63,000,000 5,125,515 0 0 68,125,515 65,711,971 0 2,413,544 0 0 0 68,125,515 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6 Loan   1 400 West 14th Street 7.0% 100.0% GSBI GSMC NAP NAP 400 West 14th Street New York New York New York 10014 Mixed Use Office/Retail 1886 2021-2023 23,250 SF 2,580.65 60,000,000 60,000,000 60,000,000 6.08000% 0.11578% 5.96422% NAP 308,222.22 NAP 3,698,666.64 Interest Only No Actual/360 60 60 60 60 0 0 4/28/2023 0 6 6/6/2023 NAP 5/6/2028 NAP 0 0 L(24),YM1(29),O(7) 2,583,186 987,815 1,595,371 2/28/2023 T-12 1,911,781 965,244 946,537 12/31/2022 T-12 2,055,124 987,540 1,067,584 12/31/2021 T-12 96.6% 6,848,183 1,132,761 5,715,422 4,883 68,656 5,641,884 1.55 1.53 9.5% 9.4% 93,000,000 As Is 3/21/2023 64.5% 64.5% 100.0% 4/26/2023 No Identity Media 9,500 40.9% 9/30/2024 Gucci 9,250 39.8% 2/13/2033 Barry Callebaut USA 4,500 19.4% 7/31/2032 NAP NAP NAP NAP NAP NAP NAP NAP 4/4/2023 NAP 4/4/2023 NAP NAP No Fee NAP NAP NAP NAP 348,302 58,910 0 Springing 0 484 0 0 2,906 0 0 0 0 0 1,414,000 0 Unfunded Obligations Reserve 0 0 NAP Hard Springing Yes Yes No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Steven Feldman, Gary Feldman and Irving Feldman Steven Feldman, Gary Feldman and Irving Feldman No No Refinance No 60,000,000 0 0 0 60,000,000 53,109,441 0 4,059,298 1,762,302 1,068,959 0 60,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
7 Loan   1 Green Acres 5.8% 100.0% GSBI, MSBNA, BMO, DBRI GSMC, BMO, GACC Group 2 NAP 2034 Green Acres Road Valley Stream Nassau New York 11581 Retail Regional Mall 1956, 2016 1982, 2006, 2007 2,081,286 SF 177.77 50,000,000 50,000,000 50,000,000 5.89900% 0.01578% 5.88322% NAP 249,205.44 NAP 2,990,465.28 Interest Only No Actual/360 60 56 60 56 0 0 1/3/2023 4 6 2/6/2023 NAP 1/6/2028 NAP 5 0 L(28),YM1(27),O(5) 76,986,549 31,812,161 45,174,388 9/30/2022 T-12 76,903,875 30,285,085 46,618,790 12/31/2021 T-12 69,008,722 28,007,136 41,001,586 12/31/2020 T-12 96.2% 83,514,884 35,580,356 47,934,528 455,855 1,113,906 46,364,767 2.17 2.10 13.0% 12.5% 679,000,000 As Is 10/30/2022 54.5% 54.5% 97.7% 12/12/2022 No Macy's 390,503 18.8% 8/18/2026 Walmart 173,450 8.3% 8/31/2028 SEARS 144,537 6.9% 10/31/2028 BJ's Wholesale Club 127,750 6.1% 1/31/2027 KOHL'S 116,392 5.6% 1/31/2031 12/20/2022 NAP 12/20/2022 NAP NAP Yes - AE Fee / Leasehold 8/12/2026 2, 6-year extension options 1,080,000 No 0 Springing 0 Springing 0 Springing 619,992 4,068,135 0 0 0 0 0 0 743,644 Springing Gap Rent Reserve (Upfront: $743,643.75), Rollover Reserve (Monthly: Springing) Rollover Reserve: $2,094,342 0 NAP Hard Springing Yes Yes Yes Yes 50,000,000 320,000,000 1,594,914.81 1,844,120.25 NAP NAP 370,000,000 1,844,120.25 54.5% 2.10 13.0% NAP NAP NAP NAP NAP NAP NAP No NAP The Macerich Partnership, L.P. The Macerich Partnership, L.P. No No Refinance No 370,000,000 11,744,495 0 0 381,744,495 364,192,834 0 12,739,883 4,811,779 0 0 381,744,495 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
8 Loan   1 Heritage Plaza 4.7% 100.0% GSBI, MSBNA GSMC Group 1 NAP 1111 and 1200 Bagby Street Houston Harris Texas 77002 Office CBD 1986 2021 1,158,165 SF 148.51 40,000,000 40,000,000 40,000,000 7.63000% 0.03953% 7.59047% NAP 257,865.74 NAP 3,094,388.88 Interest Only No Actual/360 60 60 60 60 0 0 4/13/2023 0 6 6/6/2023 NAP 5/6/2028 NAP 5 0 YM1(24),DorYM1(29),O(7) 47,511,670 19,723,321 27,788,349 12/31/2022 T-12 41,405,549 22,550,623 18,854,926 12/31/2021 T-12 46,993,596 19,123,848 27,869,748 12/31/2020 T-12 69.1% 43,938,879 22,147,467 21,791,413 364,421 871,468 20,555,523 1.64 1.54 12.7% 12.0% 521,800,000 As Is 2/1/2023 33.0% 33.0% 70.1% 2/28/2023 No EOG Resources Inc. 376,333 32.5% 3/31/2035 Deloitte LLP 205,125 17.7% 2/28/2031 Perella Weinberg Partners Group LP 63,446 5.5% 8/31/2027 Lime Rock Management LP 56,984 4.9% 3/31/2024 S&P Global Inc. 28,560 2.5% 2/28/2029 2/9/2023 NAP 2/8/2023 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 19,303 231,636 5,000,000 144,771 10,000,000 0 0 0 0 10,489,446 0 Outstanding TI/LC Reserve ($10,303,667), Free Rent Reserve ($185,778.77) 0 0 NAP Hard Springing Yes Yes Yes No 40,000,000 132,000,000 850,956.95 1,108,822.69 NAP NAP 172,000,000 1,108,822.69 33.0% 1.54 12.7% NAP NAP NAP NAP NAP NAP NAP Yes Mezzanine (Max Combined LTV of 33.0%; Min Combined Debt Yield of 12.67%; Intercreditor Agreement is required) AEW CPT REIT, LLC, AEW Core Property (U.S.), L.P., Brookfield Office Properties Inc. and Brookfield Property Partners, L.P. Brookfield Properties Investor LLC No No Refinance Yes 172,000,000 5,793,688 0 0 177,793,688 156,217,116 0 6,087,126 15,489,446 0 0 177,793,688 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
9 Loan   1 Tudor Wharf (Leasehold) 4.4% 100.0% BMO BMO Group 3 NAP 34-44 Charles River Avenue Charlestown Suffolk Massachusetts 02129 Hospitality Extended Stay 2003 2013 168 Rooms 224,404.76 37,700,000 37,700,000 37,700,000 7.99000% 0.01578% 7.97422% NAP 254,505.54 NAP 3,054,066.48 Interest Only No Actual/360 60 60 60 60 0 0 4/25/2023 0 6 6/6/2023 NAP 5/6/2028 NAP 0 0 L(24),D(31),O(5) 13,723,007 8,027,088 5,695,919 3/31/2023 T-12 13,105,210 7,626,423 5,478,787 12/31/2022 T-12 8,580,966 6,135,826 2,445,139 12/31/2021 T-12 78.2% 13,723,007 8,491,634 5,231,373 548,920 0 4,682,453 1.71 1.53 13.9% 12.4% 65,000,000 As Is 2/13/2023 58.0% 58.0% 78.2% 3/31/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/17/2023 NAP 2/17/2023 NAP NAP Yes - AE Leasehold 2/29/2088 None 800,000 No 152,365 76,183 0 Springing 0 Springing 0 0 0 0 0 0 0 0 10,350,000 66,667 PIP Reserve (Upfront: $9,950,000; Monthly: Springing), Ground Lease Reserve (Upfront: $400,000; Monthly: $66,666.67), Seasonality Reserve (Monthly: Springing) 0 0 NAP Hard Springing Yes No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Warren Q. Fields, Richard M. Kelleher and James R. Dina Warren Q. Fields and Richard M. Kelleher No No Refinance No 37,700,000 6,350,340 0 0 44,050,340 32,610,217 0 937,758 10,502,365 0 0 44,050,340 5/30/2028 271.95 212.64 78.2% 271.95 212.64 78.2% 271.07 203.20 75.0% 200.34 131.38 65.6%
10 Loan   1 Encino Target 4.3% 100.0% 3650 Real Estate Investment Trust 2 LLC 3650 Real Estate Investment Trust 2 LLC NAP NAP 17401 Ventura Boulevard  Encino Los Angeles California 91316 Retail Anchored 1989 2021 104,943 SF 349.05 36,630,000 36,630,000 36,630,000 6.32000% 0.06500% 6.25500% NAP 195,597.42 NAP 2,347,169.04 Interest Only No Actual/360 60 58 60 58 0 0 3/2/2023 2 5 4/5/2023 NAP 3/5/2028 NAP 0 0 L(12),YM1(14),DorYM1(30),O(4) 4,891,768 1,411,662 3,480,106 12/31/2022 T-12 NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 97.0% 4,947,162 1,473,645 3,473,517 20,989 79,943 3,372,585 1.48 1.44 9.5% 9.2% 56,000,000 As Is 12/15/2022 65.4% 65.4% 100.0% 1/1/2023 No Target  49,420 47.1% 1/31/2033 Planet Fitness 20,911 19.9% 10/31/2036 Salon Republic 6,246 6.0% 1/15/2035 Butterly Loft 4,061 3.9% 9/30/2024 Spectrum 3,565 3.4% 5/31/2026 2/16/2023 NAP 12/23/2022 2/17/2023 13% No Fee NAP NAP NAP NAP 0 30,607 6,235 6,235 18,125 1,750 75,000 250,000 Springing 250,000 0 0 0 18,125 0 0 NAP 0 0 NAP Hard Springing Yes Yes No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Eran Bitton and Doron Kadosh  Eran Bitton and Doron Kadosh No No Acquisition No 36,630,000 20,222,303 0 0 56,852,303 0 55,500,000 1,059,818 292,485 0 0 56,852,303 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11 Loan   1 Scottsdale Fashion Square 4.1% 100.0% GSBI, DBNY GSMC, GACC Group 2 NAP 7014 East Camelback Road Scottsdale Maricopa Arizona 85251 Retail Super Regional Mall 1961, 1977, 1982, 1992, 1996, 2006, 2015 1991, 2017-2020, 2023-2024 1,555,459 SF 450.03 35,000,000 35,000,000 35,000,000 6.21425% 0.01978% 6.19447% NAP 183,766.30 NAP 2,205,195.60 Interest Only No Actual/360 60 58 60 58 0 0 3/3/2023 2 6 4/6/2023 NAP 3/6/2028 NAP 5 0 L(26),DorYM1(27),O(7) 97,949,617 17,988,634 79,960,983 12/31/2022 T-12 85,107,087 17,534,916 67,572,171 12/31/2021 T-12 73,178,391 17,139,268 56,039,123 12/31/2020 T-12 95.0% 105,121,522 18,973,779 86,147,743 327,531 1,009,838 84,810,375 1.95 1.92 12.3% 12.1% 1,825,000,000 As Is 1/4/2023 38.4% 38.4% 96.0% 12/2/2022 No Macy's 235,899 15.2% 1/31/2030 Nordstrom 225,000 14.5% 2/28/2029 Neiman Marcus 100,071 6.4% 10/18/2031 Harkins Theatres 81,177 5.2% 1/31/2031 DICK'S Sporting Goods 50,646 3.3% 1/31/2026 2/13/2023 NAP 2/13/2023 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 Springing 402,666 0 Springing 1,651,332 0 0 0 0 14,539,077 0 Outstanding TI/LC Reserve ($10,222,200), Gap Rent Reserve ($4,316,877) 0 0 NAP Hard Springing Yes No Yes No 35,000,000 665,000,000 3,491,559.80 3,675,326.10 NAP NAP 700,000,000 3,675,326.10 38.4% 1.92 12.3% NAP NAP NAP NAP NAP NAP NAP No NAP The Macerich Partnership, L.P. and Institutional Mall Investors LLC The Macerich Partnership, L.P. and Institutional Mall Investors LLC No No Refinance No 700,000,000 0 0 0 700,000,000 404,875,080 0 1,932,303 14,539,077 278,653,540 0 700,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
12 Loan   3 KY & MN Warehouse Distribution Portfolio 3.8%   3650 Real Estate Investment Trust 2 LLC 3650 Real Estate Investment Trust 2 LLC NAP NAP Various Various Various Various Various Industrial Various Various Various 741,140 SF 44.61 33,061,300 33,061,300 33,061,300 6.68500% 0.06500% 6.62000% NAP 186,737.03 NAP 2,240,844.36 Interest Only No Actual/360 60 60 60 60 0 0 4/10/2023 0 5 6/5/2023 NAP 5/5/2028 NAP 0 0 L(24),DorYM1(29),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 5,218,690 821,278 4,397,412 111,171 0 4,286,241 1.96 1.91 13.3% 13.0% 70,100,000 As Is Various 47.2% 47.2% 100.0%                                                                   0 Springing 0 Springing 0 9,264 75,000 0 Springing 3,000,000 0 0 0 33,750 0 0 NAP 0 0 NAP Hard In Place Yes Yes No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Michael K. Press Michael K. Press No No Acquisition   33,061,300 17,308,916 0 0 50,370,216 0 48,000,000 2,336,466 33,750 0 0 50,370,216 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
12.01 Property   1 4813 Nashville 1.8% 46.4%         4813 Nashville Road Bowling Green Warren Kentucky 42101 Industrial Warehouse/Distribution 2015 NAP 341,150 SF   15,350,000 15,350,000 15,350,000                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         32,300,000 As Is 2/9/2023     100.0% 5/5/2023 Yes iMedia Brands, Inc. 341,150 100.0% 4/30/2048 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 12/7/2022 NAP 12/7/2022 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
12.02 Property   1 4811 Nashville 1.4% 35.4%         4811 Nashville Road Bowling Green Warren Kentucky 42101 Industrial Warehouse/Distribution 1990 2015 260,800 SF   11,711,000 11,711,000 11,711,000                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         24,700,000 As Is 2/9/2023     100.0% 5/5/2023 Yes iMedia Brands, Inc. 260,800 100.0% 4/30/2048 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 12/6/2022 NAP 12/6/2022 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
12.03 Property   1 6740 Shady Oak 0.7% 18.1%         6740 Shady Oak Road Eden Prairie Hennepin  Minnesota 55344 Industrial Flex 1981 2021 139,190 SF   6,000,300 6,000,300 6,000,300                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         13,100,000 As Is 2/8/2023     100.0% 5/5/2023 Yes iMedia Brands, Inc. 139,190 100.0% 4/30/2048 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/24/2023 NAP 12/2/2022 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
13 Loan   1 Showboat Apartments 3.8% 100.0% 3650 Real Estate Investment Trust 2 LLC 3650 Real Estate Investment Trust 2 LLC NAP NAP 801 Boardwalk Atlantic City Atlantic New Jersey 08401 Multifamily High Rise 2003 2020 255 Units 129,411.76 33,000,000 33,000,000 33,000,000 6.82000% 0.06500% 6.75500% NAP 190,154.86 NAP 2,281,858.32 Interest Only No Actual/360 60 59 60 59 0 0 3/15/2023 1 5 5/5/2023 NAP 4/5/2028 NAP 0 0 L(25),D(31),O(4) 4,914,967 1,169,590 3,745,377 12/31/2022 T-12 NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 5,832,534 1,384,365 4,448,169 63,750 0 4,384,419 1.95 1.92 13.5% 13.3% 65,700,000 As Is 1/17/2023 50.2% 50.2% 95.7% 1/1/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/10/2023 NAP 1/31/2023 NAP NAP Yes - AE Fee NAP NAP NAP NAP 13,963 6,981 26,130 2,178 0 5,313 191,250 0 0 0 0 0 0 529,688 295,227 Springing Cozy Suites Reserve 295,227 0 NAP Hard In Place Yes No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 12,000,000 12.00000% 45,000,000 311,821.53 68.5% 1.17 9.9% No NAP Bart Blatstein Bart Blatstein No No Refinance No 33,000,000 0 12,000,000 0 45,000,000 24,388,664 0 2,679,275 865,008 17,067,053 0 45,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
14 Loan   1 Motel 6 Tropicana 2.6% 100.0% BCREI Barclays NAP NAP 195 East Tropicana Avenue Las Vegas Clark Nevada 89109 Hospitality Limited Service 1971 2015-2021 306 Rooms 74,346.41 22,750,000 22,750,000 21,951,392 7.79153% 0.01578% 7.77575% 160,604.91 NAP 1,927,258.94 NAP Amortizing Balloon No Actual/360 0 0 60 60 360 360 4/13/2023 0 6 6/6/2023 6/6/2023 5/6/2028 NAP 0 0 L(24),D(29),O(7) 9,208,070 4,996,232 4,211,838 3/31/2023 T-12 8,824,511 5,104,073 3,720,438 12/31/2022 T-12 7,955,462 4,353,238 3,602,224 12/31/2021 T-12 85.2% 9,208,070 4,982,679 4,225,391 368,323 0 3,857,068 2.19 2.00 18.6% 17.0% 44,300,000  As Is (Extraordinary Assumption) 3/13/2023 51.4% 49.6% 85.2% 3/31/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/28/2023 NAP 3/27/2023 NAP NAP No Fee NAP NAP NAP NAP 9,902 9,902 0 Springing 0 30,694 0 0 0 0 0 0 0 0 1,241,136 0 PIP Reserve 0 0 NAP Hard Springing Yes No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 5,000,000 13.00000% 27,750,000 217,912.96 62.6% 1.48 15.2% No NAP Jagmohan Dhillon Jagmohan Dhillon No No Refinance No 22,750,000 3,037,900 5,000,000 0 30,787,900 28,665,513 0 871,349 1,251,038 0 0 30,787,900 3/16/2037 95.66 81.47 85.2% 95.66 81.47 85.2% 92.73 78.23 84.4% 85.25 70.60 82.8%
15 Loan   1 PetSmart HQ 2.6% 100.0% 3650 Real Estate Investment Trust 2 LLC 3650 Real Estate Investment Trust 2 LLC NAP NAP 19601 North 27th Avenue Phoenix Maricopa Arizona 85027 Office Suburban 1997 2008 365,672 SF 185.96 22,350,000 22,350,000 22,350,000 4.28000% 0.06500% 4.21500% NAP 80,822.15 NAP 969,865.80 Interest Only No Actual/360 84 59 84 59 0 0 3/31/2021 25 5 5/5/2021 NAP 4/5/2028 NAP 0 0 L(40),D(40),O(4) 11,412,304 3,353,222 8,059,082 12/31/2020 T-12 13,654,879 1,656,081 11,998,799 12/31/2019 T-12 13,618,149 1,336,267 12,281,882 12/31/2018 T-12 92.5% 10,582,368 3,449,559 7,132,809 102,388 365,672 6,664,749 2.42 2.26 10.5% 9.8% 110,500,000 As Is 3/10/2021 61.5% 61.5% 100.0% 5/5/2023 Yes PetSmart Home Office, Inc. 365,672 100.0% 3/31/2032 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/15/2021 NAP 3/15/2021 NAP NAP No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 8,532 0 0 30,473 0 0 0 0 146,929 9,141,800 0 PetSmart TI Reserve 0 0 NAP Hard In Place Yes Yes Yes No 22,350,000 45,650,000 165,079.70 245,901.85 NAP NAP 68,000,000 245,901.85 61.5% 2.26 10.5% 12,000,000 12.00000% 80,000,000 367,568.52 72.4% 1.51 8.9% No NAP Walter C. Bowen Walter C. Bowen No No Acquisition No 68,000,000 41,555,271 12,000,000 0 121,555,271 0 110,000,000 2,266,543 9,288,729 0 0 121,555,271 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
16 Loan   5 National Warehouse & Distribution Portfolio 2.6%   CREFI CREFI NAP NAP Various Various Various Various Various Industrial Various Various Various 3,951,338 SF 39.70 22,000,000 21,981,280 20,797,209 6.81000% 0.01703% 6.79297% 143,570.12 NAP 1,722,841.44 NAP Amortizing Balloon No Actual/360 0 0 60 59 360 359 3/10/2023 1 6 5/6/2023 5/6/2023 4/6/2028 NAP 0 0 L(25),D(28),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 24,103,590 3,755,768 20,347,822 395,134 987,835 18,964,854 1.65 1.54 13.0% 12.1% 276,700,000 As Is Various 56.7% 53.6% 100.0%                                                                   0 Springing 0 Springing 0 32,928 790,268 0 Springing 0 0 0 0 227,688 6,147,412 0 Cash Collateral Reserve 0 0 NAP Hard Springing Yes Yes Yes No 21,981,280 134,885,127 880,998.44 1,024,568.56 NAP NAP 156,866,406 1,024,568.56 56.7% 1.54 13.0% NAP NAP NAP NAP NAP NAP NAP No NAP Samuel Bert Malouf Samuel Bert Malouf No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
16.01 Property   1 1700 Schuster Road 1.0% 39.9%         1700 Schuster Road Delano Kern California 93215 Industrial Warehouse/Distribution 1993, 1996 NAP 1,213,366 SF   8,785,987 8,778,511 8,305,637                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 8,214,920 1,247,682 6,967,238 121,337 303,342 6,542,560         100,200,000 As Is 1/31/2023     100.0% 5/6/2023 Yes CVB, Inc. 1,213,366 100.0% 2/28/2038 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/9/2023 NAP 2/9/2023 2/7/2023 4% Yes - A Fee NAP NAP NAP NAP                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
16.02 Property   1 101 Michelin Drive 0.5% 20.0%         101 Michelin Drive Laurens Laurens South Carolina 29360 Industrial Warehouse/Distribution 1993 NAP 1,170,972 SF   4,408,408 4,404,656 4,167,390                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 5,566,712 941,614 4,625,098 117,097 292,743 4,215,257         61,300,000 As Is 1/23/2023     100.0% 5/6/2023 Yes CVB, Inc. 1,170,972 100.0% 2/28/2038 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/9/2023 NAP 2/9/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
16.03 Property   1 1525 West 2960 South 0.4% 16.0%         1525 West 2960 South Nibley Cache Utah 84321 Industrial Flex 2015 NAP 260,000 SF   3,520,000 3,517,005 3,327,553                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 3,760,728 394,661 3,366,067 26,000 65,000 3,275,067         45,300,000 As Is 1/30/2023     100.0% 5/6/2023 Yes CVB, Inc. 260,000 100.0% 2/28/2038 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/9/2023 NAP 2/9/2023 2/8/2023 7% No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
16.04 Property   1 5685 Raiders Road, Building B 0.3% 13.4%         5685 Raiders Road Frazeysburg Muskingum Ohio 43822 Industrial Warehouse/Distribution 1994 2022 812,000 SF   2,942,675 2,940,171 2,781,792                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 3,945,576 742,838 3,202,738 81,200 203,000 2,918,538         37,700,000 As Is 1/27/2023     100.0% 5/6/2023 Yes CVB, Inc. 812,000 100.0% 2/28/2038 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/9/2023 NAP 2/9/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
16.05 Property   1 840 Complex Street Southwest 0.3% 10.6%         840 Complex Street Southwest Lenoir Caldwell North Carolina 28645 Industrial Warehouse/Distribution 1970 2022 495,000 SF   2,342,930 2,340,936 2,214,837                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 2,615,654 428,973 2,186,682 49,500 123,750 2,013,432         32,200,000 As Is 1/23/2023     100.0% 5/6/2023 Yes CVB, Inc. 495,000 100.0% 2/28/2038 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/9/2023 NAP 2/9/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
17 Loan   1 Patewood Corporate Center 2.4% 100.0% 3650 Real Estate Investment Trust 2 LLC 3650 Real Estate Investment Trust 2 LLC NAP NAP 10 & 30 Patewood Drive and 50 & 80 International Drive Greenville Greenville South Carolina 29615 Office Suburban 1985-1998 1998-2017 447,282 SF 153.15 20,500,000 20,500,000 20,500,000 4.13000% 0.06500% 4.06500% NAP 71,534.09 NAP 858,409.08 Interest Only No Actual/360 84 61 84 61 0 0 5/11/2021 23 5 7/5/2021 NAP 6/5/2028 NAP 0 0 L(38),D(42),O(4) 8,680,540 2,859,435 5,821,105 3/31/2021 T-12 8,591,324 2,922,878 5,668,446 12/31/2020 T-12 8,366,227 3,076,169 5,290,058 12/31/2019 T-12 88.9% 9,308,176 3,041,693 6,266,483 84,984 117,401 6,064,099 2.18 2.11 9.1% 8.9% 111,300,000 As Is 4/8/2021 61.5% 61.5% 89.8% 4/30/2021 No RealPage, Inc. 46,118 10.3% 10/31/2026 Day & Zimmermann 45,253 10.1% 3/1/2025 The Gordian Group 43,785 9.8% 6/30/2030 Wood Group 42,648 9.5% 8/31/2023 Ogletree Deakins 41,508 9.3% 4/30/2024 12/15/2020 NAP 12/15/2020 NAP NAP No Fee NAP NAP NAP NAP 420,905 70,152 32,337 5,390 0 7,082 0 3,000,000 Springing 3,000,000 0 0 0 0 682,885 Springing Specified Leasing Reserve (Upfront: $298,808), Rent Replication Reserve (Upfront: $201,192; Ongoing: Springing; Cap: $100,596), Outstanding TI/LC Reserve (Upfront: $137,947), Free Rent Reserve (Upfront: $44,938.13) 100,596 0 NAP Hard In Place Yes Yes Yes No 20,500,000 48,000,000 167,494.44 239,028.53 NAP NAP 68,500,000 239,028.53 61.5% 2.11 9.1% 10,000,000 10.00000% 78,500,000 323,519.27 70.5% 1.56 8.0% No NAP Joseph Friedland Joseph Friedland No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
18 Loan   1 Fairfield Inn & Suites Locust Grove 1.0% 51.6% BCREI Barclays Group 4 Group A 690 Market Place Boulevard Locust Grove Henry Georgia 30248 Hospitality Limited Service 2018 NAP 76 Rooms 108,424.29 8,250,000 8,240,246 7,887,583 7.80500% 0.01578% 7.78922% 59,417.87 NAP 713,014.44 NAP Amortizing Balloon No Actual/360 0 0 60 58 360 358 3/10/2023 2 6 4/6/2023 4/6/2023 3/6/2028 NAP 0 0 L(26),D(27),O(7) 2,589,299 1,482,323 1,106,976 1/31/2023 T-12 2,568,543 1,518,697 1,049,846 12/31/2022 T-12 1,353,367 710,047 643,320 5/31/2021 T-5 Ann 81.0% 2,589,299 1,494,308 1,094,991 103,572 0 991,419 1.58 1.44 13.7% 12.5% 12,300,000 As Is 12/19/2022 66.3% 63.5% 81.0% 1/31/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 12/28/2022 NAP 12/22/2022 NAP NAP No Fee NAP NAP NAP NAP 33,350 6,670 14,037 2,807 0 4,316 0 0 0 0 0 0 0 0 0 0 NAP 0 0 NAP Springing Springing Yes No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Munira Kapadia Munira Kapadia No No Refinance No                         1/28/2040 113.55 91.97 81.0% 113.55 91.97 81.0% 112.96 91.19 80.7% 93.43 30.34 51.8%
19 Loan   1 Holiday Inn Express Jackson 0.9% 48.4% BCREI Barclays Group 4 Group A 116 Hospitality Drive Jackson Butts Georgia 30233 Hospitality Limited Service 2020 NAP 74 Rooms 104,605.91 7,750,000 7,740,837 7,409,547 7.80500% 0.01578% 7.78922% 55,816.79 NAP 669,801.48 NAP Amortizing Balloon No Actual/360 0 0 60 58 360 358 3/10/2023 2 6 4/6/2023 4/6/2023 3/6/2028 NAP 0 0 L(26),D(27),O(7) 2,500,974 1,340,516 1,160,458 1/31/2023 T-12 2,425,170 1,339,911 1,085,259 12/31/2022 T-12 1,353,366 766,853 586,513 5/31/2021 T-5 Ann 75.0% 2,389,816 1,295,815 1,094,000 95,593 0 998,408 1.58 1.44 13.7% 12.5% 11,800,000 As Is 12/19/2022 66.3% 63.5% 78.5% 1/31/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 12/28/2022 NAP 12/28/2022 NAP NAP No Fee NAP NAP NAP NAP 25,324 4,221 12,670 2,534 0 3,983 0 0 0 0 0 0 0 0 0 0 NAP 0 0 NAP Springing Springing Yes No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Munira Kapadia Munira Kapadia No No Refinance No                         11/16/2041 116.45 87.34 75.0% 116.45 91.45 78.5% 116.77 88.78 76.0% 108.60 49.68 45.8%
20 Loan   27 Bed Stuy Portfolio 1.8%   DBRI GACC NAP NAP Various Brooklyn Kings New York Various Multifamily Garden Various Various 185 Units 82,432.43 15,250,000 15,250,000 15,250,000 6.52150% 0.01578% 6.50572% NAP 84,028.47 NAP 1,008,341.64 Interest Only No Actual/360 60 59 60 59 0 0 3/13/2023 1 6 5/6/2023 NAP 4/6/2028 NAP 0 0 L(25),D(28),O(7) 2,209,322 997,035 1,212,287 12/31/2022 T-12 2,041,168 1,264,462 776,706 12/31/2021 T-12 1,893,267 967,359 925,908 12/31/2020 T-12 94.4% 2,300,996 948,806 1,352,190 36,889 0 1,315,301 1.34 1.30 8.9% 8.6% 26,450,000 As Is Various 57.7% 57.7% 97.8%                                                                   12,986 3,427 27,744 5,549 0 3,074 0 0 0 0 0 0 0 51,500 0 0 NAP 0 0 NAP Hard (Commercial); Soft (Multifamily) Springing Yes No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Larry Hirschfield Larry Hirschfield No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.01 Property   1 150-152 Tompkins Avenue 0.2% 11.3%         150-152 Tompkins Avenue Brooklyn Kings New York 11206 Multifamily Garden 1931 1992 20 Units   1,729,679 1,729,679 1,729,679                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         3,000,000 As Is 1/24/2023     95.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/1/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.02 Property   1 375 Kosciuszko Street 0.1% 7.2%         375 Kosciuszko Street Brooklyn Kings New York 11221 Multifamily Garden 1931 1994 4 Units   1,095,463 1,095,463 1,095,463                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,900,000 As Is 1/25/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.03 Property   1 1078 Putnam Avenue 0.1% 6.8%         1078 Putnam Avenue Brooklyn Kings New York 11221 Multifamily Garden 1899 1996 13 Units   1,037,807 1,037,807 1,037,807                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,800,000 As Is 1/25/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/6/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.04 Property   1 1438 Broadway 0.1% 6.8%         1438 Broadway Brooklyn Kings New York 11221 Multifamily Garden 1930 NAP 9 Units   1,037,807 1,037,807 1,037,807                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,800,000 As Is 1/25/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/6/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.05 Property   1 607 Willoughby Avenue 0.1% 6.4%         607 Willoughby Avenue Brooklyn Kings New York 11206 Multifamily Garden 1910 1992 9 Units   980,151 980,151 980,151                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,700,000 As Is 1/24/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/1/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.06 Property   1 315 Pulaski Street 0.1% 5.3%         315 Pulaski Street Brooklyn Kings New York 11206 Multifamily Garden 1931 1994 8 Units   807,183 807,183 807,183                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,400,000 As Is 1/26/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.07 Property   1 609 Willoughby Avenue 0.1% 5.3%         609 Willoughby Avenue Brooklyn Kings New York 11206 Multifamily Garden 1905 1992 9 Units   807,183 807,183 807,183                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,400,000 As Is 1/24/2023     88.9% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/1/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.08 Property   1 675 Halsey Street 0.1% 5.1%         675 Halsey Street Brooklyn Kings New York 11233 Multifamily Garden 1910 NAP 6 Units   778,355 778,355 778,355                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,350,000 As Is 1/24/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/6/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.09 Property   1 143 Marcus Garvey Boulevard 0.1% 4.3%         143 Marcus Garvey Boulevard Brooklyn Kings New York 11206 Multifamily Garden 1931 1994 7 Units   663,043 663,043 663,043                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,150,000 As Is 1/26/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.10 Property   1 611 Willoughby Avenue 0.1% 4.3%         611 Willoughby Avenue Brooklyn Kings New York 11206 Multifamily Garden 1905 1992 9 Units   663,043 663,043 663,043                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,150,000 As Is 1/24/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/1/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.11 Property   1 399 Kosciuszko Street 0.1% 4.2%         399 Kosciuszko Street Brooklyn Kings New York 11221 Multifamily Garden 1931 1992 12 Units   634,216 634,216 634,216                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,100,000 As Is 1/25/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.12 Property   1 104 Ralph Avenue 0.1% 4.0%         104 Ralph Avenue Brooklyn Kings New York 11221 Multifamily Garden 1910 NAP 7 Units   605,388 605,388 605,388                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,050,000 As Is 1/24/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/6/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.13 Property   1 1064 Putnam Avenue 0.1% 3.6%         1064 Putnam Avenue Brooklyn Kings New York 11221 Multifamily Garden 1905 1996 5 Units   547,732 547,732 547,732                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         950,000 As Is 1/25/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/6/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.14 Property   1 403 Kosciuszko Street 0.0% 2.6%         403 Kosciuszko Street Brooklyn Kings New York 11221 Multifamily Garden 1931 1992 13 Units   403,592 403,592 403,592                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         700,000 As Is 1/25/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.15 Property   1 639 Willoughby Avenue 0.0% 2.6%         639 Willoughby Avenue Brooklyn Kings New York 11206 Multifamily Garden 1899 1992 4 Units   403,592 403,592 403,592                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         700,000 As Is 1/24/2023     75.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/1/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.16 Property   1 671 Halsey Street 0.0% 2.5%         671 Halsey Street Brooklyn Kings New York 11233 Multifamily Garden 1910 NAP 6 Units   374,764 374,764 374,764                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         650,000 As Is 1/24/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/6/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.17 Property   1 706 MacDonough Street 0.0% 2.3%         706 MacDonough Street Brooklyn Kings New York 11233 Multifamily Garden 1905 1995 4 Units   345,936 345,936 345,936                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         600,000 As Is 1/24/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/6/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.18 Property   1 981 Lafayette Avenue 0.0% 2.3%         981 Lafayette Avenue Brooklyn Kings New York 11221 Multifamily Garden 1931 1994 3 Units   345,936 345,936 345,936                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         600,000 As Is 1/25/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.19 Property   1 22 Stuyvesant Avenue 0.0% 2.1%         22 Stuyvesant Avenue Brooklyn Kings New York 11221 Multifamily Garden 1931 1994 8 Units   317,108 317,108 317,108                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         550,000 As Is 1/26/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.20 Property   1 1074 Putnam Avenue 0.0% 1.9%         1074 Putnam Avenue Brooklyn Kings New York 11221 Multifamily Garden 1899 1995 3 Units   288,280 288,280 288,280                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         500,000 As Is 1/25/2023     66.7% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/6/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.21 Property   1 1001 Putnam Avenue 0.0% 1.7%         1001 Putnam Avenue Brooklyn Kings New York 11221 Multifamily Garden 1920 1995 6 Units   259,452 259,452 259,452                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         450,000 As Is 1/25/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/6/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.22 Property   1 540A Kosciuszko Street 0.0% 1.7%         540A Kosciuszko Street Brooklyn Kings New York 11221 Multifamily Garden 1931 1994 6 Units   259,452 259,452 259,452                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         450,000 As Is 1/25/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.23 Property   1 162 Vernon Avenue 0.0% 1.7%         162 Vernon Avenue Brooklyn Kings New York 11206 Multifamily Garden 1901 1992 4 Units   259,452 259,452 259,452                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         450,000 As Is 1/24/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/1/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.24 Property   1 903 Lafayette Avenue 0.0% 1.7%         903 Lafayette Avenue Brooklyn Kings New York 11221 Multifamily Garden 1899 1994 2 Units   259,452 259,452 259,452                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         450,000 As Is 1/25/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.25 Property   1 409 Kosciuszko Street 0.0% 0.8%         409 Kosciuszko Street Brooklyn Kings New York 11221 Multifamily Garden 1899 1992 3 Units   115,312 115,312 115,312                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         200,000 As Is 1/25/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.26 Property   1 983 Lafayette Avenue 0.0% 0.8%         983 Lafayette Avenue Brooklyn Kings New York 11221 Multifamily Garden 1899 1994 3 Units   115,312 115,312 115,312                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         200,000 As Is 1/25/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
20.27 Property   1 340 Hart Street 0.0% 0.8%         340 Hart Street Brooklyn Kings New York 11206 Multifamily Garden 1899 1994 2 Units   115,312 115,312 115,312                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         200,000 As Is 1/26/2023     100.0% 1/23/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/7/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP NAP NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
21 Loan   1 909 North Michigan Avenue 1.7% 100.0% DBRI GACC NAP NAP 909 North Michigan Avenue Chicago Cook Illinois 60611 Retail Unanchored 1962 NAP 5,666 SF 2,513.41 14,241,000 14,241,000 14,241,000 6.75400% 0.01578% 6.73822% NAP 81,266.33 NAP 975,195.96 Interest Only No Actual/360 60 59 60 59 0 0 3/17/2023 1 6 5/6/2023 NAP 4/6/2028 NAP 0 0 L(25),D(30),O(5) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 2,380,912 283,395 2,097,517 1,500 5,666 2,090,351 2.15 2.14 14.7% 14.7% 28,600,000 As Is 2/16/2023 49.8% 49.8% 100.0% 2/28/2023 No Burdeen's Jewelry 2,174 38.4% 3/31/2033 Bulgari 1,937 34.2% 7/31/2030 Swatch Group (Omega) 1,555 27.4% 7/31/2025 NAP NAP NAP NAP NAP NAP NAP NAP 10/26/2022 NAP 10/21/2022 NAP NAP No Fee NAP NAP NAP NAP 20,378 6,793 878 Springing 0 125 4,500 0 0 0 0 0 0 0 357,212 Springing Omega TI/LC Reserve (Upfront: $357,212), REA Charges Reserve (Monthly: Springing) 0 0 NAP Hard Springing Yes Yes No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Daniel J. Blatteis Daniel J. Blatteis No No Acquisition No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
22 Loan   1 Meadowood Mall 1.4% 100.0% 3650 Real Estate Investment Trust 2 LLC, BCREI, WFBNA, BMO 3650 Real Estate Investment Trust 2 LLC NAP NAP 5000 Meadowood Mall Circle Reno Washoe Nevada 89502 Retail Regional Mall 1978 2013 456,841 SF 169.23 12,500,000 12,079,678 10,911,360 3.93000% 0.06500% 3.86500% 65,497.43 NAP 785,969.16 NAP Amortizing Balloon No Actual/360 0 0 60 43 300 283 11/5/2021 17 1 1/1/2022 1/1/2022 12/1/2026 NAP 0 0 L(41),D(12),O(7) 19,676,247 5,271,584 14,404,663 8/31/2021 T-12 19,340,687 6,237,429 13,103,258 12/31/2020 T-12 20,898,165 5,421,321 15,476,844 12/31/2019 T-12 89.1% 20,594,293 4,726,478 15,867,815 114,210 770,276 14,983,329 3.15 2.98 20.5% 19.4% 227,100,000 As Is 10/11/2021 34.0% 30.7% 90.0% 10/13/2021 No Macy's 98,721 21.6% 3/31/2030 Dick's Sporting Goods 50,133 11.0% 1/31/2027 Crunch Fitness 25,183 5.5% 8/31/2029 H&M 22,100 4.8% 1/31/2024 Forever 21 20,022 4.4% 1/31/2023 10/15/2021 NAP 10/15/2021 10/29/2021 12% No Fee NAP NAP NAP NAP 0 Springing 0 Springing 3,000,000 Springing 228,420 0 76,140 0 0 0 0 0 0 0 NAP 0 0 NAP Hard Springing Yes Yes Yes No 12,079,678 65,230,263 353,686.12 419,183.55 27,715,118 10.75000% 105,025,060 688,569.51 46.2% 1.81 15.1% NAP NAP NAP NAP NAP NAP NAP No NAP Simon Property Group, L.P. Simon Property Group, L.P. No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
23 Loan   1 325 Gold Street 1.4% 100.0% CREFI CREFI NAP NAP 325 Gold Street Brooklyn Kings New York 11201 Mixed Use Office/Retail 1920 2016 49,300 SF 243.41 12,000,000 12,000,000 12,000,000 7.55000% 0.01578% 7.53422% NAP 76,548.61 NAP 918,583.32 Interest Only No Actual/360 60 59 60 59 0 0 3/31/2023 1 6 5/6/2023 NAP 4/6/2028 NAP 0 0 L(3),YM1(51),O(6) 2,062,834 614,745 1,448,089 12/31/2022 T-12 1,999,725 600,894 1,398,831 12/31/2021 T-12 2,021,003 632,873 1,388,130 12/31/2020 T-12 95.0% 2,088,640 667,888 1,420,752 7,171 68,629 1,344,951 1.55 1.46 11.8% 11.2% 27,000,000 As Is 3/3/2023 44.4% 44.4% 100.0% 2/14/2023 No NYU 8,600 17.4% 5/31/2026 Team Obsolete 8,530 17.3% 7/31/2031 Ark Media 6,000 12.2% 7/31/2023 Clocktower Properties 6,000 12.2% 4/6/2031 Makelab Inc 3,750 7.6% 8/31/2025 3/6/2023 NAP 3/6/2023 NAP NAP No Fee NAP NAP NAP NAP 33,079 33,079 14,011 4,670 0 598 100,000 0 Springing 0 0 0 0 0 0 0 NAP 0 0 NAP Springing Springing Yes No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Robert Iannucci and Sonia Ewers Robert Iannucci and Sonia Ewers No No Refinance Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
24 Loan   1 Pepper Tree Apartments 1.3% 100.0% CREFI CREFI NAP NAP 4600 Oakwood Drive  Odessa Ector Texas 79761 Multifamily Garden 1975 2022 181 Units 60,497.24 10,950,000 10,950,000 10,950,000 7.03000% 0.01578% 7.01422% NAP 65,039.70 NAP 780,476.40 Interest Only No Actual/360 60 60 60 60 0 0 4/21/2023 0 6 6/6/2023 NAP 5/6/2028 NAP 0 0 L(24),D(33),O(3) 1,736,215 881,324 854,891 2/28/2023 T-12 1,706,704 866,081 840,623 12/31/2022 T-12 1,569,482 771,853 797,629 12/31/2021 T-12 94.0% 2,121,390 988,839 1,132,551 51,947 0 1,080,604 1.45 1.38 10.3% 9.9% 16,500,000 As Is 3/14/2023 66.4% 66.4% 96.1% 4/17/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/16/2023 NAP 3/16/2023 NAP NAP No Fee NAP NAP NAP NAP 62,028 12,406 74,447 14,889 0 4,329 0 0 0 0 0 0 0 66,180 0 0 NAP 0 0 NAP Springing Springing Yes No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Brian Lefkowitz, A Lefkowitz 2016 Family Trust and R Lefkowitz 2016 Family Trust Brian Lefkowitz, A Lefkowitz 2016 Family Trust and R Lefkowitz 2016 Family Trust No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
25 Loan   1 Tudor Wharf (Leased Fee) 1.2% 100.0% BMO BMO Group 3 NAP 34-44 Charles River Avenue Charlestown Suffolk Massachusetts 02129 Other Leased Fee NAP NAP 67,170 SF 159.30 10,700,000 10,700,000 10,700,000 7.37000% 0.01578% 7.35422% NAP 66,628.55 NAP 799,542.60 Interest Only No Actual/360 60 60 60 60 0 0 4/25/2023 0 6 6/6/2023 NAP 5/6/2028 NAP 0 0 L(24),D(31),O(5) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 100.0% 800,000 0 800,000 0 0 800,000 1.00 1.00 7.5% 7.5% 16,000,000 As Is 2/13/2023 66.9% 66.9% NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/17/2023 NAP 2/17/2023 NAP NAP Yes - AE Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 0 0 0 0 0 0 0 0 0 0 0 NAP 0 0 NAP Hard Springing No No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Warren Q. Fields and Richard M. Kelleher Warren Q. Fields and Richard M. Kelleher No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
26 Loan   1 1201 Third Avenue 0.9% 100.0% JPMCB, MSBNA JPMCB NAP NAP 1201 Third Avenue Seattle King Washington 98101 Office CBD 1988 NAP 1,129,710 SF 150.48 8,000,000 8,000,000 8,000,000 5.58500% 0.01703% 5.56797% NAP 37,750.46 NAP 453,005.52 Interest Only No Actual/360 60 58 60 58 0 0 2/10/2023 2 9 4/9/2023 NAP 3/9/2028 NAP 0 0 L(24),YM1(2),DorYM1(27),O(7) 51,796,212 20,401,758 31,394,453 12/31/2022 T-12 52,866,426 19,817,047 33,049,379 12/31/2021 T-12 55,173,622 18,678,980 36,494,642 12/31/2020 T-12 81.1% 51,349,507 21,283,998 30,065,509 225,942 3,282,704 26,556,863 3.12 2.76 17.7% 15.6% 556,500,000 As Is 12/1/2022 30.5% 30.5% 81.1% 1/1/2023 No Perkins Coie 296,843 26.3% 12/31/2026 WeWork 114,679 10.2% 6/30/2034 Kimley-Horn 46,058 4.1% 12/31/2034 Accolade, Inc. 45,083 4.0% 3/31/2030 Hargis Engineering 44,609 3.9% 12/31/2024 12/8/2022 NAP 12/8/2022 12/8/2022 14% No Fee NAP NAP NAP NAP 0 Springing 0 Springing 0 0 0 17,567,429 0 0 0 0 0 0 3,755,350 Springing Free Rent Reserve (Upfront: $3,755,350), Perkins Coie Funds (Monthly: Springing), Perkins Coie Prepaid Rent Funds (Monthly: Springing) 0 0 NAP Hard Springing Yes Yes Yes No 8,000,000 162,000,000 764,446.88 802,197.34 NAP NAP 170,000,000 802,197.34 30.5% 2.76 17.7% NAP NAP NAP NAP NAP NAP NAP No NAP MetLife, Inc. and New York Common Retirement Fund NAP No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
27 Loan   1 Chicago Heights 0.5% 100.0% CREFI CREFI NAP NAP 480 East Lincoln Highway Chicago Heights Cook Illinois 60411 Industrial Warehouse/Distribution 1958 1993 281,847 SF 15.97 4,500,000 4,500,000 4,500,000 7.28000% 0.01578% 7.26422% NAP 27,679.17 NAP 332,150.04 Interest Only No Actual/360 60 59 60 59 0 0 3/27/2023 1 6 5/6/2023 NAP 4/6/2028 NAP 0 0 L(25),D(28),O(7) 1,111,902 594,830 517,072 12/31/2022 T-12 1,181,919 734,663 447,256 12/31/2021 T-12 1,003,148 699,246 303,902 12/31/2020 T-12 95.0% 1,249,283 647,108 602,175 81,736 69,878 450,562 1.81 1.36 13.4% 10.0% 8,100,000 As Is 2/20/2023 55.6% 55.6% 100.0% 4/1/2023 No Gerresheimer Glass, Inc. 209,135 74.2% 11/30/2026 Morgan Li, LLC 72,712 25.8% 5/14/2025 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/3/2023 NAP 3/3/2023 NAP NAP No Fee NAP NAP NAP NAP 43,364 43,364 0 Springing 0 6,811 0 0 0 0 0 0 0 53,763 0 Springing Gerresheimer Glass Renewal Reserve (Monthly: Springing), Morgan Li Renewal Reserve (Monthly: Springing) 0 0 NAP Hard Springing Yes Yes No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Ian Quint Ian Quint No No Acquisition Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP

 

 

 

Footnotes to Annex A
   
(1) The Administrative Fee Rate includes the Servicing Fee Rate, the Operating Advisor Fee Rate, the Trustee/Certificate Administrator Fee Rate and the CREFC® Intellectual Property Royalty License Fee Rate applicable to each Mortgage Loan.
   
(2) The Monthly Debt Service (P&I)($) and Annual Debt Service (P&I) ($) shown for Mortgage Loans with a partial interest-only period reflects the amount payable after the expiration of the interest-only period. 
   
(3) The open period is inclusive of the Maturity Date or Anticipated Repayment Date.
   
(4) Underwritten NOI DSCR (x), Underwritten NCF DSCR (x), Whole Loan Underwritten NCF DSCR (x) and Total Debt Underwritten NCF DSCR (x) are calculated based on amortizing debt service payments (except for interest-only loans).
   
(5) Leased Occupancy (%) includes tenants that have signed leases, but are not yet in occupancy or may not be paying rent.
   
(6) The lease expirations shown are based on full lease terms; however, in some instances, the tenant may have the option to terminate its lease prior to the expiration date shown. In addition, in some instances, a tenant may have the right to assign its lease or sublease the leased premises and be released from its obligations under the lease. See “Description of the Mortgage Pool—Tenant Issues” in the Preliminary Prospectus for certain examples of the foregoing.

 

 

 

 

           
  MORTGAGE POOL CHARACTERISTICS      
           
  Mortgage Pool Characteristics        
  Initial Pool Balance $859,674,341      
  Number of Mortgage Loans 27      
  Number of Mortgaged Properties 66      
  Average Cut-off Date Balance $31,839,790      
  Weighted Average Mortgage Rate 6.80333%      
  Weighted Average Remaining Term to Maturity/ARD (months) 59      
  Weighted Average Remaining Amortization Term (months) 353      
  Weighted Average Cut-off Date LTV Ratio 54.3%      
  Weighted Average Maturity Date/ARD LTV Ratio 53.9%      
  Weighted Average UW NCF DSCR 1.69x      
  Weighted Average Debt Yield on Underwritten NOI 12.2%      
  % of Initial Pool Balance of Mortgage Loans that are Amortizing Balloon 15.8%      
  % of Initial Pool Balance of Mortgage Loans that are Interest Only 84.2%      
  % of Initial Pool Balance of Mortgaged Properties with Single Tenants 18.1%      
  % of Initial Pool Balance of Mortgage Loans with Mezzanine Debt 19.0%      
  % of Initial Pool Balance of Mortgage Loans with Subordinate Debt 1.4%      

 

 

 

 

  COLLATERAL OVERVIEW      
                 
  Mortgage Loans by Loan Seller              
  Mortgage Loan Seller Mortgage Loans Mortgaged Properties Aggregate Cut-off Date Balance % of Initial Pool Balance      
  3650 Real Estate Investment Trust 2 LLC 6 8 $157,620,978 18.3%      
  Citi Real Estate Funding Inc. 5 10 $124,431,280 14.5%      
  Goldman Sachs Mortgage Company 2 2 $100,000,000 11.6%      
  German American Capital Corporation 3 29 $92,491,000 10.8%      
  Bank of Montreal 2 2 $48,400,000 5.6%      
  Barclays Commercial Real Estate Inc. 3 3 $38,731,083 4.5%      
  JPMorgan Chase Bank, National Association 1 1 $8,000,000 0.9%      
  JPMorgan Chase Bank, National Association / 3650 Real Estate Investment Trust 2 LLC 1 7 $75,000,000 8.7%      
  Citi Real Estate Funding Inc. / Bank of Montreal 1 1 $65,000,000 7.6%      
  German American Capital Corporation / Bank of Montreal 1 1 $65,000,000 7.6%      
  Goldman Sachs Mortgage Company / Bank of Montreal / German American Capital Corporation 1 1 $50,000,000 5.8%      
  Goldman Sachs Mortgage Company / German American Capital Corporation 1 1 $35,000,000 4.1%      
  Total 27 66 $859,674,341 100.0%      
                 
  Top 10 Mortgage Loans              
  Top 10 Mortgage Loans Mortgage Loan Seller Cut-off Date Balance ($) % of Initial Pool Balance Cut-off Date LTV UW NOI DY UW NCF DSCR (x) General Property Type
  ICP/IRG Holdings Portfolio JPMCB, 3650 Real Estate Investment Trust 2 LLC $75,000,000 8.7% 56.7% 10.7% 1.39 Various
  Austin Multifamily Portfolio CREFI $75,000,000 8.7% 58.8% 9.3% 1.21 Multifamily
  Cumberland Mall GACC, BMO $65,000,000 7.6% 48.9% 13.8% 1.66 Retail
  Harborside 2-3 CREFI, BMO $65,000,000 7.6% 56.8% 14.7% 2.36 Office
  Soho Warehouse GACC $63,000,000 7.3% 55.3% 11.5% 1.32 Mixed Use
  400 West 14th Street GSMC $60,000,000 7.0% 64.5% 9.5% 1.53 Mixed Use
  Green Acres GSMC, BMO, GACC $50,000,000 5.8% 54.5% 13.0% 2.10 Retail
  Heritage Plaza GSMC $40,000,000 4.7% 33.0% 12.7% 1.54 Office
  Tudor Wharf (Leasehold) BMO $37,700,000 4.4% 58.0% 13.9% 1.53 Hospitality
  Encino Target 3650 Real Estate Investment Trust 2 LLC $36,630,000 4.3% 65.4% 9.5% 1.44 Retail
                 
  Property Types              
  Property Type / Detail Number of Mortgaged Properties Aggregate Cut-off Date Balance ($) % of Initial Pool Balance        
  Retail 6 $212,950,678 24.8%        
  Super Regional Mall 2        100,000,000 11.6        
  Regional Mall 2          62,079,678 7.2        
  Anchored 1          36,630,000 4.3        
  Unanchored 1          14,241,000 1.7        
  Office 6 $166,725,000 19.4%        
  CBD 3        113,000,000 13.1        
  Suburban 3          53,725,000 6.2        
  Mixed Use 3 $135,000,000 15.7%        
  Office/Retail 2          72,000,000 8.4        
  Retail/Hospitality 1          63,000,000 7.3        
  Multifamily 31 $134,200,000 15.6%        
  Garden 30        101,200,000 11.8        
  High Rise 1          33,000,000 3.8        
  Industrial 15 $123,667,580 14.4%        
  Warehouse/Distribution 11          90,525,275 10.5        
  Manufacturing/Warehouse 1          19,125,000 2.2        
  Flex 3          14,017,305 1.6        
  Hospitality 4 $76,431,083 8.9%        
  Limited Service 3          38,731,083 4.5        
  Extended Stay 1          37,700,000 4.4        
  Other 1 $10,700,000 1.2%        
  Total 66 $859,674,341 100.0%        
                 
  Geographic Distribution              
  Property Location Number of Mortgaged Properties Aggregate Cut-off Date Balance ($) % of Initial Pool Balance        
  New York 30 $137,250,000 16.0%        
  Texas 4 125,950,000 14.7%        
  California 3 108,408,511 12.6%        
  New Jersey 2 98,000,000 11.4%        
  Georgia 3 80,981,083 9.4%        
  Ohio 7 58,815,171 6.8%        
  Arizona 2 57,350,000 6.7%        
  Massachusetts 2 48,400,000 5.6%        
  Nevada 2 34,829,678 4.1%        
  Kentucky 2 27,061,000 3.1%        
  South Carolina 2 24,904,656 2.9%        
  Michigan 1 19,125,000 2.2%        
  Illinois 2 18,741,000 2.2%        
  Washington 1 8,000,000 0.9%        
  Minnesota 1 6,000,300 0.7%        
  Utah 1 3,517,005 0.4%        
  North Carolina 1 2,340,936 0.3%        
  Total 66 $859,674,341 100.0%        
                 
  Distribution of Amortization Types              
  Amortization Type Number of Mortgage Loans Cut-off Date Balance ($) % of Initial Pool Balance        
  Interest Only 21 $723,882,300 84.2%        
  Amortizing Balloon 6 135,792,041 15.8%        
  Total 27 $859,674,341 100.0%