FWP 1 n3405_x4-premktanxa1.htm FREE WRITING PROSPECTUS

		FREE WRITING PROSPECTUS
		FILED PURSUANT TO RULE 433
		REGISTRATION FILE NO.: 333-255934-04

BMO 2023-C4 Disclaimer

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (‘‘SEC’’) for the offering to which this communication 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 Web site at www.sec.gov. Alternatively, the depositor or BMO Capital Markets Corp., any other underwriter, or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-866-864-7760 (8 a.m. – 5 p.m. EST).

Nothing in this document constitutes an offer of securities for sale in any jurisdiction where the offer or sale is not permitted. The information contained herein is preliminary as of the date hereof, supersedes any such information previously delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus relating to the securities. These materials are subject to change, completion, supplement or amendment from time to time.

STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES AND OTHER INFORMATION

The attached information contains certain tables and other statistical analyses (the “Computational Materials”) which have been prepared in reliance upon information furnished by the Mortgage Loan Sellers. Numerous assumptions were used in preparing the Computational Materials, which may or may not be reflected herein. As such, no assurance can be given as to the Computational Materials’ accuracy, appropriateness or completeness in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. You should consult your own counsel, accountant and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these securities. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment and/or loss assumptions, and changes in such prepayment and/or loss assumptions may dramatically affect such weighted average lives, yields and principal payment periods. In addition, it is possible that prepayments or losses on the underlying assets will occur at rates higher or lower than the rates shown in the attached Computational Materials. The specific characteristics of the securities may differ from those shown in the Computational Materials due to differences between the final underlying assets and the preliminary underlying assets used in preparing the Computational Materials. The principal amount and designation of any security described in the Computational Materials are subject to change prior to issuance. None of BMO Capital Markets Corp., Citigroup Global Markets Inc., Natixis Securities Americas LLC, Bancroft Capital, LLC, Drexel Hamilton, LLC or any of their respective affiliates, make any representation or warranty as to the actual rate or timing of payments or losses on any of the underlying assets or the payments or yield on the securities. The information in this presentation is based upon management forecasts and reflects prevailing conditions and management’s views as of this date, all of which are subject to change. In preparing this presentation, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us by or on behalf of the Mortgage Loan Sellers or which was otherwise reviewed by us.

This free writing prospectus contains certain forward-looking statements. If and when included in this free writing prospectus, the words “expects”, “intends”, “anticipates”, “estimates” and analogous expressions and all statements that are not historical facts, including statements about our beliefs or expectations, are intended to identify forward-looking statements. Any forward-looking statements are made subject to risks and uncertainties which could cause actual results to differ materially from those stated. Those risks and uncertainties include, among other things, declines in general economic and business conditions, increased competition, changes in demographics, changes in political and social conditions, regulatory initiatives and changes in customer preferences, many of which are beyond our control and the control of any other person or entity related to this offering. The forward-looking statements made in this free writing prospectus are made as of the date stated on the cover. We have no obligation to update or revise any forward-looking statement.

IMPORTANT NOTICE REGARDING THE OFFERED CERTIFICATES

The information herein is preliminary and may be supplemented or amended prior to the time of sale.

In addition, the Offered Certificates referred to in these materials and the asset pool backing them are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined, or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis.

The underwriters described in these materials may from time to time perform investment banking services for, or solicit investment banking business from, any company named in these materials. The underwriters and/or their affiliates or respective employees may from time to time have a long or short position in any security or contract discussed in these materials.

The information contained herein supersedes any previous such information delivered to any prospective investor and will be superseded by information delivered to such prospective investor prior to the time of sale.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY-GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of any 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) any representation that these materials are accurate or complete and may not be updated or (3) these materials possibly being confidential, are 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.

Loan ID Number

Loan / Property Flag

# 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

70 Hudson Street

4.6%

100.0%

Natixis

NAP

70 Hudson Street

Jersey City

Hudson

07302

Office

CBD

2002

2018

431,281

278.24

36,000,000

3.19200%

0.01625%

3.17575%

NAP

97,090.00

NAP

1,165,080.00

Interest Only

Actual/360

2/11/2022

4/8/2022

NAP

3/8/2027

YM1(35),DorYM1(18),O(7)

21,793,316

6,367,648

15,425,668

9/30/2022

T-6 Ann

19,707,190

5,408,854

14,298,336

12/31/2021

T-12

12,018,384

5,181,982

6,836,402

12/31/2020

T-12

94.0%

22,465,058

6,481,062

15,983,997

64,692

15,919,304

4.12

4.10

13.3%

296,000,000

As Is

10/19/2022

40.5%

94.1%

9/30/2022

TD Ameritrade

208,396

48.3%

6/30/2033

Fidessa Corporation

78,000

18.1%

12/31/2032

Federal Home Loan Bank of New York

52,041

12.1%

12/31/2033

Gucci America, Inc.

51,824

12.0%

12/31/2029

New Jersey CVS Pharmacy, LLC

11,659

2.7%

10/31/2038

10/24/2022

NAP

10/24/2022

NAP

Yes - AE

Fee

NAP

263,338

131,669

313,920

26,160

5,391

306,422

Rent Abatement Reserve ($200,000.00), Maman Reserve ($106,421.76)

NAP

Hard

Springing

Yes

36,000,000

84,000,000

226,543.33

323,633.33

76,950,000

3.19200%

196,950,000

531,163.21

66.5%

2.50

8.1%

NAP

Acquisition

120,000,000

111,520,984

76,950,000

308,470,984

300,000,000

7,587,304

883,680

308,470,984

NAP

Loan

Rialto Industrial

4.5%

100.0%

AREF

NAP

1110 West Merrill Avenue

Rialto

San Bernardino

92376

Industrial

Warehouse/Distribution

1989

2020

1,106,124

163.63

35,000,000

7.61000%

0.01625%

7.59375%

NAP

225,041.09

NAP

2,700,493.08

Interest Only

Actual/360

120

118

120

118

11/10/2022

1/6/2023

NAP

12/6/2032

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

NAV

95.0%

22,349,341

4,721,514

17,627,827

110,613

331,837

17,185,377

1.26

1.23

9.7%

9.5%

350,000,000

As Is

10/12/2022

51.7%

100.0%

2/6/2023

Yes

Rialto Distribution LLC

1,106,124

100.0%

10/31/2042

NAP

10/24/2022

NAP

10/24/2022

18%

Fee

NAP

514,722

128,681

122,072

61,036

9,218

8,125

9,452,054

Springing

Rent Abatement Reserve (Upfront: $9,402,054), Litigation Reserve (Upfront: $50,000, Monthly: Springing)

Litigation Reserve ($50,000)

NAP

Hard

Springing

Yes

35,000,000

146,000,000

938,742.82

1,163,783.91

NAP

181,000,000

1,163,783.91

51.7%

1.23

9.7%

NAP

Yes

Future Mezzanine Loan

Ezra Danziger, Paul Reisz and Solomon Weber

Refinance

Yes

181,000,000

130,724,472

24,015,699

10,096,973

16,162,856

181,000,000

NAP

Loan

Gilardian NYC Portfolio

3.6%

BMO

Group A

NAP

Various

New York

Various

Multifamily

High Rise

Various

NAP

153

Units

364,379.08

28,000,000

4.33812%

0.01625%

4.32187%

NAP

102,628.59

NAP

1,231,543.08

Interest Only

Actual/360

12/20/2022

2/6/2023

NAP

1/6/2028

L(25),D(31),O(4)

8,654,206

2,814,082

5,840,124

9/30/2022

T-12

7,301,221

3,026,795

4,274,426

12/31/2021

T-12

7,515,165

2,910,192

4,604,973

12/31/2020

T-12

98.0%

9,607,348

3,194,304

6,413,044

5,996

6,407,048

2.62

2.61

11.5%

141,000,000

As Is

10/28/2022

39.5%

98.7%

11/1/2022

395,800

Springing

21,801

Springing

100,000

Springing

90,000

500

199,183

NAP

Soft

Springing

Yes

28,000,000

27,750,000

101,712.27

204,340.86

NAP

55,750,000

204,340.86

39.5%

2.61

11.5%

37,750,000

8.33046%

93,500,000

470,043.12

66.3%

1.14

6.9%

NAP

Robert Gilardian and Albert Gilardian

Refinance

55,750,000

4,966,507

37,750,000

98,466,507

88,000,000

9,749,723

716,784

98,466,507

NAP

3.01

Property

237 East 34th Street

2.6%

73.6%

237 East 34th Street

New York

10016

Multifamily

High Rise

2015

NAP

105

Units

20,603,209

6,801,752

2,163,123

4,638,629

9/30/2022

T-12

5,622,737

2,385,249

3,237,488

12/31/2021

T-12

5,785,642

2,268,343

3,517,299

12/31/2020

T-12

99.0%

7,657,375

2,499,137

5,158,238

5,996

5,152,242

106,300,000

As Is

10/28/2022

99.0%

11/1/2022

NAP

11/2/2022

NAP

11/2/2022

NAP

Fee

NAP

3.02

Property

114 West 86th Street

0.9%

26.4%

114 West 86th Street

New York

10024

Multifamily

High Rise

1928

NAP

Units

7,396,791

1,852,454

650,959

1,201,496

9/30/2022

T-12

1,678,483

641,545

1,036,938

12/31/2021

T-12

1,729,524

641,849

1,087,675

12/31/2020

T-12

94.5%

1,949,973

695,167

1,254,806

34,700,000

As Is

10/28/2022

97.9%

11/1/2022

NAP

11/2/2022

NAP

11/2/2022

NAP

Fee

NAP

Loan

Weston at Copperfield

3.6%

100.0%

Arbor

BMO

NAP

15125 West Road

Houston

Harris

77095

Multifamily

Garden

1998

2018

330

Units

84,848.48

28,000,000

4.29600%

0.01625%

4.27975%

NAP

101,632.22

NAP

1,219,586.64

Interest Only

Actual/360

120

110

120

110

3/25/2022

5/1/2022

NAP

4/1/2032

L(34),D(83),O(3)

4,968,211

1,595,730

3,372,481

10/31/2022

T-12

4,774,208

2,328,827

2,445,381

12/31/2021

T-12

4,403,699

2,272,186

2,131,513

12/31/2020

T-12

86.4%

4,920,907

2,657,613

2,263,294

82,500

2,180,794

1.86

1.79

8.1%

7.8%

66,160,000

As Is

2/28/2022

42.3%

90.3%

10/31/2022

NAP

3/8/2022

NAP

3/7/2022

NAP

Fee

NAP

515,805

73,686

Springing

20,625

6,875

NAP

Springing

Yes

NAP

Yes

Future Mezzanine Loan

CF Real Estate Holdings, LLC

Yes

Acquisition

28,000,000

38,993,677

66,993,677

66,000,000

457,247

536,430

66,993,677

NAP

Loan

IPG Portfolio

3.6%

CREFI

NAP

Various

Industrial

Various

1,791,714

57.49

28,000,000

6.33000%

0.14000%

6.19000%

NAP

149,751.39

NAP

1,797,016.68

Interest Only

Actual/360

120

116

120

116

9/29/2022

11/6/2022

NAP

10/6/2032

YM4(28),DorYM1(85),O(7)

NAV

95.0%

14,015,432

2,610,886

11,404,546

179,242

398,681

10,826,623

1.73

1.64

11.1%

10.5%

196,800,000

As Is

Various

52.3%

100.0%

2/6/2023

Springing

NAP

Hard

Springing

Yes

28,000,000

75,000,000

401,119.79

550,871.18

NAP

103,000,000

550,871.18

52.3%

1.64

11.1%

NAP

Yes

Future Mezzanine Loan

AG Net Lease IV Corp., AG Net Lease IV (Q) Corp. and AG Net Lease Realty Fund IV Investments (H-1), L.P.

Acquisition

103,000,000

73,350,575

3,301,540

179,652,115

177,000,000

2,652,115

179,652,115

NAP

5.01

Property

Eagle Springs

0.7%

20.5%

1101 Eagle Springs Road

Danville

Pittsylvania

24540

Industrial

Warehouse/Distribution

1987

2017

317,670

5,726,782

NAV

95.0%

2,568,301

355,258

2,213,043

9,000

75,698

2,128,345

40,000,000

As Is

8/16/2022

100.0%

2/6/2023

Yes

Intertape Polymer Group

317,670

100.0%

9/30/2042

NAP

9/21/2022

NAP

9/12/2022

NAP

Fee

NAP

5.02

Property

Danville

0.7%

20.4%

360 Ringgold Industrial Parkway

Danville

Pittsylvania

24540

Industrial

Warehouse/Distribution

2004

NAP

316,507

5,705,816

NAV

95.0%

2,543,184

337,416

2,205,768

5,167

75,421

2,125,180

40,000,000

As Is

8/16/2022

100.0%

2/6/2023

Yes

Intertape Polymer Group

316,507

100.0%

9/30/2042

NAP

9/21/2022

NAP

9/12/2022

NAP

Fee

NAP

Yes

NAP

5.03

Property

Blythewood

0.7%

19.1%

1091 Carolina Pines Drive

Blythewood

Richland

29016

Industrial

Manufacturing

1999

2014

350,563

5,345,036

NAV

95.0%

2,442,402

379,264

2,063,138

62,638

73,285

1,927,215

37,600,000

As Is

8/16/2022

100.0%

2/6/2023

Yes

Intertape Polymer Group

350,563

100.0%

9/30/2042

NAP

9/21/2022

NAP

9/12/2022

NAP

Fee

NAP

5.04

Property

Menasha

0.3%

9.3%

741-748 Fourth Street

Menasha

Winnebago

54952

Industrial

Manufacturing

1920

2004

156,860

2,610,559

NAV

95.0%

1,488,208

284,858

1,203,350

65,145

40,512

1,097,692

17,500,000

As Is

8/16/2022

100.0%

2/6/2023

Yes

Intertape Polymer Group

156,860

100.0%

9/30/2042

NAP

9/21/2022

9/9/2022

9/12/2022

NAP

Fee

NAP

5.05

Property

Tremonton

0.3%

8.2%

760 West 1000 North

Tremonton

Box Elder

84337

Industrial

Manufacturing

1997

NAP

118,503

2,294,405

NAV

95.0%

1,155,469

189,955

965,514

15,250

32,095

918,169

17,600,000

As Is

8/16/2022

100.0%

2/6/2023

Yes

Intertape Polymer Group

118,503

100.0%

9/30/2042

NAP

9/21/2022

NAP

9/12/2022

8/23/2022

11%

Fee

NAP

5.06

Property

Carbondale

0.3%

8.0%

2200 North McRoy Drive

Carbondale

Jackson

62901

Industrial

Warehouse/Distribution

1995

NAP

193,730

2,232,785

NAV

95.0%

1,400,936

459,665

941,271

7,917

35,467

897,887

16,900,000

As Is

8/16/2022

100.0%

2/6/2023

Yes

Intertape Polymer Group

193,730

100.0%

9/30/2042

NAP

9/21/2022

NAP

9/12/2022

NAP

Fee

NAP

5.07

Property

Marysville

0.3%

7.4%

317 Kendall Street

Marysville

Saint Clair

48040

Industrial

Manufacturing

1943

1987

233,264

2,071,969

NAV

95.0%

1,396,402

355,498

1,040,904

9,000

39,941

991,963

14,400,000

As Is

8/17/2022

100.0%

2/6/2023

Yes

Intertape Polymer Group

233,264

100.0%

9/30/2042

NAP

9/21/2022

9/9/2022

9/12/2022

NAP

Fee

NAP

5.08

Property

Midland

0.3%

7.2%

13722 Bill Mcgee Road

Midland

Cabarrus

28107

Industrial

Warehouse/Distribution

2016

NAP

104,617

2,012,648

NAV

95.0%

1,020,529

248,972

771,557

5,125

26,262

740,170

12,800,000

As Is

8/12/2022

100.0%

2/6/2023

Yes

Intertape Polymer Group

104,617

100.0%

9/30/2042

NAP

9/21/2022

NAP

9/12/2022

NAP

Fee

NAP

Loan

Latitude at South Portland

3.4%

100.0%

Arbor

BMO

NAP

350 Clarks Pond Parkway

Portland

Cumberland

04106

Multifamily

Mid Rise

2020-2021

NAP

256

Units

215,593.75

27,000,000

4.92000%

0.01625%

4.90375%

NAP

112,237.50

NAP

1,346,850.01

Interest Only

Actual/360

120

112

120

112

5/5/2022

7/1/2022

NAP

6/1/2032

L(32),D(85),O(3)

5,766,685

2,005,237

3,761,448

10/31/2022

T-12

2,675,996

1,112,000

1,563,996

12/31/2021

T-12

NAP

94.2%

6,458,417

2,069,832

4,388,585

51,200

4,337,385

1.59

1.58

8.0%

7.9%

86,400,000

As Is

3/31/2022

63.9%

99.2%

12/13/2022

NAP

4/5/2022

NAP

4/5/2022

NAP

Fee

NAP

152,880

50,960

23,683

7,894

16,000

5,333

NAP

Springing

Yes

27,000,000

28,192,000

117,192.58

229,430.08

NAP

55,192,000

229,430.08

63.9%

1.58

8.0%

NAP

Christopher Urso and Lisa Urso

Refinance

55,192,000

37,190,041

1,435,126

192,563

16,374,269

55,192,000

NAP

Loan

Orizon Aerostructures

3.4%

BMO

NAP

Various

Industrial

Manufacturing

Various

785,000

77.83

27,000,000

6.80500%

0.14000%

6.66500%

NAP

155,239.06

NAP

1,862,868.72

Interest Only

Actual/360

120

118

120

118

11/15/2022

1/6/2023

NAP

12/6/2032

L(26),DorYM1(89),O(5)

NAV

95.0%

7,718,750

1.83

12.6%

125,000,000

As Portfolio

10/17/2022

48.9%

100.0%

2/6/2023

Springing

NAP

Hard

In Place

Yes

27,000,000

34,095,000

196,032.44

351,271.50

NAP

61,095,000

351,271.50

48.9%

1.83

12.6%

NAP

LCN North American Fund III, L.P.

LCN North American Fund III REIT

Acquisition

61,095,000

61,801,361

122,896,361

122,180,000

716,361

122,896,361

NAP

7.01

Property

2522 and 2526 W. 21st Street, Chanute, KS

1.3%

38.5%

2522 West 21st Street

Chanute

Neosho

66720

Industrial

Manufacturing

1992, 2017, 2020

NAP

300,000

10,391,305

NAV

47,800,000

As Is

10/17/2022

100.0%

2/6/2023

Yes

Orizon Aerostructures, LLC

300,000

100.0%

12/31/2047

NAP

8/23/2022

NAP

8/23/2022

NAP

Fee

NAP

7.02

Property

500 Industrial Road A, Grove, OK

1.0%

28.2%

500 Industrial Road A

Grove

Delaware

74344

Industrial

Manufacturing

1969, 2001, 2011, 2014

2012, 2017, 2018

220,000

7,608,695

NAV

35,000,000

As Is

10/17/2022

100.0%

2/6/2023

Yes

Orizon Aerostructures, LLC

220,000

100.0%

12/31/2047

NAP

8/23/2022

NAP

8/23/2022

NAP

Fee

NAP

7.03

Property

801 W. Old 56 Hwy, Olathe, KS

0.9%

26.2%

801 West Old 56 Highway

Olathe

Johnson

66061

Industrial

Manufacturing

2016

NAP

205,000

7,086,957

NAV

32,600,000

As Is

10/17/2022

100.0%

2/6/2023

Yes

Orizon Aerostructures, LLC

205,000

100.0%

12/31/2047

NAP

8/23/2022

NAP

8/23/2022

NAP

Fee

NAP

7.04

Property

615 W. Cherry Street, Chanute, KS

0.2%

7.1%

615 West Cherry Street

Chanute

Neosho

66720

Industrial

Manufacturing

1968

2023

60,000

1,913,043

NAV

9,550,000

As Is

10/17/2022

100.0%

2/6/2023

Yes

Orizon Aerostructures, LLC

60,000

100.0%

12/31/2047

NAP

8/24/2022

NAP

8/24/2022

NAP

Fee

NAP

Loan

Park West Village

3.3%

100.0%

SMC, BMO, CREFI

BMO

NAP

784, 788 and 792 Columbus Avenue

New York

10025

Multifamily

High Rise

1950, 1958, 1963

2014

850

Units

220,588.24

26,000,000

4.65000%

0.14000%

4.51000%

NAP

102,149.31

NAP

1,225,791.72

Interest Only

Actual/360

8/3/2022

9/6/2022

NAP

8/6/2027

L(30),D(25),O(5)

25,035,638

9,544,221

15,491,417

5/31/2022

T-12

22,682,409

9,325,401

13,357,008

12/31/2021

T-12

23,638,812

9,046,781

14,592,031

12/31/2020

T-12

91.3%

32,787,176

9,786,898

23,000,278

2.60

12.3%

575,000,000

As Is

1/20/2022

32.6%

94.7%

7/22/2022

NAP

1/20/2022

NAP

1/19/2022

NAP

Fee

NAP

919,476

459,738

Springing

850,000

12,778,500

Springing

Unit Upgrade Reserve (Upfront: $7,858,500), Supplemental Income Reserve (Upfront: $4,920,000; Monthly: Springing)

NAP

Soft (Residential); Hard (Commercial)

In Place

Yes

26,000,000

161,500,000

634,504.34

736,653.65

177,500,000

4.65000%

365,000,000

1,434,019.10

63.5%

1.34

6.3%

NAP

Meyer Chetrit and Amended and Restated 2013 LG Revocable Trust

Yes

Refinance

187,500,000

15,813,033

177,500,000

380,813,033

321,864,741

44,400,316

14,547,976

380,813,033

NAP

Loan

Green Acres

3.3%

100.0%

GS, MS, BMO, DBRI

BMO

NAP

2034 Green Acres Road

Valley Stream

Nassau

11581

Retail

Regional Mall

1956

1982, 2006, 2007

2,081,286

177.77

26,000,000

5.89900%

0.01625%

5.88275%

NAP

129,586.83

NAP

1,555,041.96

Interest Only

Actual/360

1/3/2023

2/6/2023

NAP

1/6/2028

L(25),YM1(30),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%

97.7%

12/12/2022

Macy's

390,503

18.8%

8/18/2026 (266,676 SF); 7/31/2034 (123,827 SF)

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

Yes - AE

Fee/Leashold

8/12/2026

Two, 6-year options

1,080,000

Springing

619,997

4,068,135

Springing

743,644

Springing

Rollover Reserve (Monthly: Springing), Gap Rent Reserve (Upfront: $743,643.75)

2,094,342

NAP

Hard

Springing

Yes

26,000,000

344,000,000

1,714,533.42

1,844,120.25

NAP

370,000,000

1,844,120.25

54.5%

2.10

13.0%

NAP

The Macerich Partnership, L.P.

Refinance

370,000,000

11,744,495

381,744,495

364,192,834

1,639,883

4,811,779

11,100,000

381,744,495

NAP

Loan

575 Broadway

3.3%

100.0%

CREFI, SGFC

CREFI

NAP

575 Broadway

New York

10012

Mixed Use

Retail/Office

1882

2015

176,648

719.86

26,000,000

25,951,292

24,012,064

7.49000%

0.01625%

7.47375%

191,968.62

NAP

2,303,623.44

NAP

Amortizing Balloon

Actual/360

300

298

11/29/2022

1/6/2023

12/6/2027

L(26),D(28),O(6)

34,792,051

11,050,658

23,741,393

6/30/2022

T-12

32,527,216

10,808,852

21,718,364

12/31/2021

T-12

29,676,032

10,308,321

19,367,711

12/31/2020

T-12

93.4%

27,803,795

11,776,167

16,027,627

35,330

441,620

15,550,678

1.42

1.38

12.6%

12.2%

215,000,000

As Is

9/7/2022

59.1%

54.7%

88.1%

7/1/2022

Estee Lauder

64,122

36.3%

3/31/2025

Prada USA Corp.

30,079

17.0%

1/31/2035

Valor Management LLC

12,990

7.4%

8/31/2033

Union Editorial NY, LLC

11,500

6.5%

5/31/2023

H&M

11,049

6.3%

1/31/2030

9/14/2022

NAP

9/14/2022

NAP

Leasehold

6/30/2060

None

5,089,118

Yes

276,774

62,040

20,680

2,944

36,802

4,655,585

Springing

Unfunded Obligations Reserve (Upfront: $4,231,492), Ground Rent Reserve (Upfront: $424,093; Monthly: Springing), Façade Work Reserve (Monthly: Springing)

NAP

Hard

Springing

Yes

25,951,292

101,210,038

748,677.61

940,646.23

NAP

127,161,330

940,646.23

59.1%

1.38

12.6%

NAP

Peter M. Brant

Refinance

127,400,000

5,592,260

132,992,260

123,945,221

4,052,640

4,994,399

132,992,260

NAP

Loan

Cadence

3.3%

BMO

NAP

Various

Industrial

Warehouse/Distribution

Various

644,842

39.98

25,778,500

6.15000%

0.01625%

6.13375%

NAP

133,949.74

NAP

1,607,396.88

Interest Only

Actual/360

120

118

120

118

11/18/2022

1/6/2023

NAP

12/6/2032

L(25),YM1(1),DorYM1(90),O(4)

NAV

95.0%

3,489,194

2.17

13.5%

54,400,000

As Portfolio

8/31/2022

47.4%

100.0%

2/6/2023

Springing

193,453

Springing

967,263

NAP

Hard

Springing

Yes

NAP

New Mountain Net Lease Partners Corporation

Acquisition

25,778,500

26,607,796

52,386,296

51,557,000

829,296

52,386,296

NAP

11.01

Property

1175 Early Drive

0.6%

19.4%

1175 Early Drive

Winchester

Clark

40391

Industrial

Warehouse/Distribution

1975

1988

165,237

5,010,780

NAV

10,200,000

As Is

8/10/2022

100.0%

2/6/2023

Yes

Cadence

165,237

100.0%

8/31/2042

NAP

6/15/2022

NAP

6/15/2022

NAP

Fee

NAP

11.02

Property

207 North Forest Hills School Road

0.5%

14.3%

207 North Forest Hills School Road

Marshville

Union

28103

Industrial

Warehouse/Distribution

1972

2008

94,104

3,684,397

NAV

7,500,000

As Is

8/12/2022

100.0%

2/6/2023

Yes

Cadence

94,104

100.0%

8/31/2042

NAP

6/15/2022

NAP

6/15/2022

NAP

Fee

NAP

11.03

Property

8450 Tanner Williams Road

0.4%

12.8%

8450 Tanner Williams Road

Mobile

36608

Industrial

Warehouse/Distribution

1968

2010

71,008

3,291,395

NAV

6,700,000

As Is

8/5/2022

100.0%

2/6/2023

Yes

Cadence

71,008

100.0%

8/31/2042

NAP

6/15/2022

NAP

6/15/2022

NAP

Fee

NAP

11.04

Property

10992 Leadbetter Road

0.3%

8.0%

10992 Leadbetter Road

Ashland

Hanover

23005

Industrial

Warehouse/Distribution

1980

2012

36,312

2,063,263

NAV

4,200,000

As Is

7/27/2022

100.0%

2/6/2023

Yes

Cadence

36,312

100.0%

8/31/2042

NAP

6/10/2022

NAP

6/15/2022

NAP

Fee

NAP

11.05

Property

8125 Tridon Drive

0.2%

7.2%

8125 Tridon Drive

Smyrna

Rutherford

37167

Industrial

Warehouse/Distribution

2001

2008

25,000

1,866,761

NAV

3,800,000

As Is

8/11/2022

100.0%

2/6/2023

Yes

Cadence

25,000

100.0%

8/31/2042

NAP

6/15/2022

NAP

6/15/2022

NAP

Fee

NAP

11.06

Property

1789 Hock Avenue

0.2%

6.5%

1789 Hock Avenue

North Charleston

Charleston

29405

Industrial

Warehouse/Distribution

1979

NAP

25,577

1,670,260

NAV

3,400,000

As Is

8/5/2022

100.0%

2/6/2023

Yes

Cadence

25,577

100.0%

8/31/2042

NAP

6/10/2022

NAP

6/15/2022

NAP

Fee

NAP

11.07

Property

222 Industrial Drive

0.2%

5.8%

222 Industrial Drive

Chickamauga

Walker

30707

Industrial

Warehouse/Distribution

1997

2007

36,300

1,498,322

NAV

3,050,000

As Is

8/9/2022

100.0%

2/6/2023

Yes

Cadence

36,300

100.0%

8/31/2042

NAP

6/15/2022

NAP

6/15/2022

NAP

Fee

NAP

11.08

Property

701 McDowell Road

0.1%

4.3%

701 McDowell Road

Asheboro

Randolph

27205

Industrial

Warehouse/Distribution

1988, 2000, 2007

NAP

35,279

1,105,319

NAV

2,250,000

As Is

8/15/2022

100.0%

2/6/2023

Yes

Cadence

35,279

100.0%

8/31/2042

NAP

6/13/2022

NAP

6/15/2022

NAP

Fee

NAP

11.09

Property

101 East Jefferson Avenue

0.1%

3.9%

101 East Jefferson Avenue

West Memphis

Crittenden

72301

Industrial

Warehouse/Distribution

1957, 1980, 1998, 2009

NAP

25,000

994,787

NAV

2,025,000

As Is

8/8/2022

100.0%

2/6/2023

Yes

Cadence

25,000

100.0%

8/31/2042

NAP

6/15/2022

NAP

6/15/2022

1/12/2023

Fee

NAP

11.10

Property

243 County Road 414

0.1%

3.8%

243 County Road 414

Jonesboro

Craighead

72404

Industrial

Warehouse/Distribution

1997

2001

24,600

982,506

NAV

2,000,000

As Is

8/16/2022

100.0%

2/6/2023

Yes

Cadence

24,600

100.0%

8/31/2042

NAP

6/15/2022

NAP

6/15/2022

1/12/2023

Fee

NAP

11.11

Property

4522 East State Highway 18

0.1%

3.5%

4522 East State Highway 18

Blytheville

Mississippi

72315

Industrial

Warehouse/Distribution

1999

NAP

22,025

908,818

NAV

1,850,000

As Is

8/8/2022

100.0%

2/6/2023

Yes

Cadence

22,025

100.0%

8/31/2042

NAP

6/13/2022

NAP

6/15/2022

1/12/2023

11%

Fee

NAP

11.12

Property

344 Phillips 273 Road

0.1%

2.7%

344 Phillips 273 Road

Lexa

Phillips

72355

Industrial

Warehouse/Distribution

1996

NAP

26,000

700,035

NAV

1,425,000

As Is

8/8/2022

100.0%

2/6/2023

Yes

Cadence

26,000

100.0%

8/31/2042

NAP

6/15/2022

NAP

6/15/2022

NAP

Fee

NAP

11.13

Property

120 East Blanchard Road

0.1%

2.5%

120 East Blanchard Road

Florence

29506

Industrial

Warehouse/Distribution

1989

2018

13,998

638,629

NAV

1,300,000

As Is

8/11/2022

100.0%

2/6/2023

Yes

Cadence

13,998

100.0%

8/31/2042

NAP

6/8/2022

NAP

6/15/2022

NAP

Fee

NAP

11.14

Property

4518 West 21st Street

0.1%

1.6%

4518 West 21st Street

Tulsa

74107

Industrial

Warehouse/Distribution

1976

2007

9,066

417,565

NAV

850,000

As Is

8/10/2022

100.0%

2/6/2023

Yes

Cadence

9,066

100.0%

8/31/2042

NAP

6/8/2022

NAP

6/15/2022

NAP

Fee

NAP

11.15

Property

3701 Stagecoach Road

0.0%

1.5%

3701 Stagecoach Road

Jefferson

72079

Industrial

Warehouse/Distribution

1996

NAP

10,000

388,090

NAV

790,000

As Is

8/5/2022

100.0%

2/6/2023

Yes

Cadence

10,000

100.0%

8/31/2042

NAP

6/8/2022

NAP

6/15/2022

NAP

Fee

NAP

11.16

Property

2070 Highway 150

0.0%

1.4%

2070 Highway 150

Bessemer

Jefferson

35022

Industrial

Warehouse/Distribution

1987

2006

18,374

356,158

NAV

725,000

As Is

8/3/2022

100.0%

2/6/2023

Yes

Cadence

18,374

100.0%

8/31/2042

NAP

6/13/2022

NAP

6/15/2022

NAP

Fee

NAP

11.17

Property

317-417 Crow Street

0.0%

0.8%

317-417 Crow Street

Monroe

Union

28112

Industrial

Warehouse/Distribution

1962, 1970

NAP

6,962

201,415

NAV

410,000

As Is

8/12/2022

100.0%

2/6/2023

Yes

Cadence

6,962

100.0%

8/31/2042

NAP

6/8/2022

NAP

6/15/2022

NAP

Fee

NAP

Loan

Great Lakes Crossing Outlets

3.3%

100.0%

BMO, DBRI, GS

BMO

NAP

4000 Baldwin Road

Auburn Hills

Oakland

48326

Retail

Regional Mall

1998

2010

1,128,332

159.53

25,750,000

6.52100%

0.01625%

6.50475%

NAP

141,873.26

NAP

1,702,479.12

Interest Only

Actual/360

120

1/5/2023

3/1/2023

NAP

2/1/2033

L(24),D(90),O(6)

46,424,127

14,768,491

31,655,635

11/30/2022

T-12

47,261,766

14,350,429

32,911,337

12/31/2021

T-12

40,708,568

12,857,184

27,851,384

12/31/2020

T-12

92.6%

47,000,639

15,438,872

31,561,767

259,516

1,567,562

29,734,689

2.65

2.50

17.5%

16.5%

400,000,000

As Is

11/10/2022

45.0%

89.6%

11/30/2022

Burlington Coat Factory

81,082

7.2%

1/31/2030

Round 1 Bowling Amusement

59,071

5.2%

9/30/2027

Forever 21

47,203

4.2%

1/31/2023

Marshalls

35,191

3.1%

1/31/2027

TJ Maxx

34,766

3.1%

1/31/2027

11/16/2022

NAP

11/18/2022

NAP

Yes - AE

Fee

NAP

Springing

21,033

519,033

94,028

2,256,664

1,805,623

Outstanding TI/LC Obligations Reserve ($1,581,204.38), Gap Rent Reserve ($224,418.36)

NAP

Hard

Springing

Yes

25,750,000

154,250,000

849,862.16

991,735.42

NAP

180,000,000

991,735.42

45.0%

2.50

17.5%

NAP

The Taubman Realty Group LLC

Refinance

180,000,000

962,977

180,962,977

177,589,210

1,568,144

1,805,623

180,962,977

NAP

Loan

315 5th Avenue

3.2%

100.0%

BMO

Group A

NAP

315 5th Avenue

New York

10016

Mixed Use

Office/Retail

1907

1995

52,500

476.19

25,000,000

6.55000%

0.01625%

6.53375%

NAP

138,353.59

NAP

1,660,243.08

Interest Only

Actual/360

120

119

120

119

12/20/2022

2/6/2023

NAP

1/6/2033

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

3,373,179

1,259,332

2,113,847

7/31/2022

T-12

3,106,310

1,139,072

1,967,238

12/31/2021

T-12

2,603,940

1,269,211

1,334,728

12/31/2020

T-12

89.9%

3,729,703

1,328,249

2,401,455

7,875

17,500

2,376,080

1.45

1.43

9.6%

9.5%

48,800,000

As Is

10/27/2022

51.2%

87.7%

12/1/2022

Gogi Inc.

9,900

18.9%

4/30/2031 (4,950 SF); 7/31/2031 (4,950 SF)

Gilar Realty

4,950

9.4%

11/30/2036

American Friends of Shalva

2,325

4.4%

1/31/2024

Secret Stylash

1,885

3.6%

12/31/2024

Empire Lash Studio

1,675

3.2%

4/30/2027

11/2/2022

NAP

11/2/2022

NAP

Fee

NAP

136,216

Springing

656

350,000

4,375

26,950

NAP

Hard

Springing

Yes

NAP

Yes

Future Mezzanine Loan

Robert Gilardian and Albert Gilardian

Refinance

25,000,000

2,668,064

27,668,064

26,086,088

1,068,811

513,166

27,668,064

NAP

Loan

Patuxent & Coliseum

3.2%

CREFI

NAP

Various

Retail

Anchored

Various

370,716

67.44

25,000,000

6.35000%

0.01625%

6.33375%

NAP

134,129.05

NAP

1,609,548.60

Interest Only

Actual/360

120

119

120

119

12/21/2022

2/6/2023

NAP

1/6/2033

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

3,956,715

1,133,681

2,823,035

10/31/2022

T-12

3,940,875

1,148,172

2,792,703

12/31/2021

T-12

4,883,474

1,151,002

3,732,471

12/31/2020

T-12

82.9%

4,709,313

1,059,101

3,650,212

184,507

148,602

3,317,104

2.27

2.06

14.6%

13.3%

46,500,000

Various

53.8%

86.8%

1/1/2023

117,347

39,116

9,520

15,376

12,245

550,000

269,788

3,911,894

Unfunded Obligations Reserve

NAP

Springing

Yes

NAP

Cedar Realty Trust Partnership, L.P., Wheeler Real Estate Investment Trust, Inc. and Cedar Realty Trust, Inc.

Cedar Realty Trust Partnership, L.P.

Refinance

25,000,000

19,256,643

835,239

4,308,549

599,569

25,000,000

NAP

14.01

Property

Patuxent Crossing

2.1%

67.2%

27355 MacArthur Boulevard

California

Saint Mary's

20619

Retail

Anchored

1987

NAP

264,068

16,800,000

3,041,074

641,979

2,399,095

10/31/2022

T-12

2,919,987

640,946

2,279,042

12/31/2021

T-12

2,775,201

628,045

2,147,156

12/31/2020

T-12

79.2%

3,142,373

618,230

2,524,143

137,215

106,167

2,280,761

31,200,000

As Is

11/20/2022

83.6%

1/1/2023

Shopper's Food

61,400

23.3%

5/31/2028

Marshalls

27,000

10.2%

9/30/2027

Homegoods

19,688

7.5%

9/30/2027

World Gym

15,612

5.9%

12/31/2029

Jo-Ann Fabrics

14,058

5.3%

1/31/2025

11/22/2022

NAP

11/22/2022

NAP

Fee

NAP

14.02

Property

Coliseum Marketplace

1.0%

32.8%

2170 Coliseum Drive

Hampton

Hampton City

23666

Retail

Anchored

2000

2011

106,648

8,200,000

915,641

491,701

423,940

10/31/2022

T-12

1,020,887

507,226

513,661

12/31/2021

T-12

2,108,273

522,958

1,585,315

12/31/2020

T-12

91.5%

1,566,941

440,871

1,126,069

47,292

42,434

1,036,343

15,300,000

Prospective Value Upon Stabilization

11/12/2024

94.9%

1/1/2023

One Life Gym

57,662

54.1%

8/31/2038

Michaels

23,981

22.5%

2/28/2029

Sonabank

4,710

4.4%

9/30/2030

AT&T Mobility

4,334

4.1%

7/31/2023

Chick-Fil-A

4,211

3.9%

5/31/2025

11/22/2022

NAP

11/22/2022

NAP

Fee

NAP

Yes

NAP

Loan

WRS Retail Portfolio

3.1%

LMF

NAP

Various

Retail

Shadow Anchored

Various

549,973

152.73

24,000,000

23,416,582

6.88000%

0.01625%

6.86375%

157,743.11

139,511.11

1,892,917.32

1,674,133.32

Interest Only, Amortizing Balloon

Actual/360

120

117

360

10/28/2022

12/6/2022

6/6/2030

11/6/2032

L(27),D(89),O(4)

11,506,252

2,672,064

8,834,188

8/31/2022

T-12

10,678,844

2,538,754

8,140,091

12/31/2021

T-12

11,047,371

2,468,327

8,579,044

12/31/2020

T-12

88.8%

12,448,561

2,819,467

9,629,095

82,496

329,984

9,216,615

1.45

1.39

11.5%

11.0%

145,320,000

As Portfolio

10/27/2022

57.8%

56.4%

89.1%

10/25/2022

551,903

87,604

248,209

39,398

6,875

412,480

1,000,000

Springing

1,000,000

42,313

1,325,497

Unfunded Tenant Obligations Reserve ($1,050,196.81), Free Rent Reserve ($275,299.76)

NAP

Springing

Yes

24,000,000

60,000,000

394,357.76

552,100.87

NAP

84,000,000

552,100.87

57.8%

1.39

11.5%

NAP

Arthur Joseph Kepes and Thomas Scott Smith

Refinance and Acquisition

84,000,000

1,488,632

85,488,632

66,344,516

11,800,000

4,176,196

3,167,921

85,488,632

NAP

15.01

Property

Hudson Bridge Crossing

0.5%

15.8%

1492-1548 Hudson Bridge Road

Stockbridge

Henry

30281

Retail

Shadow Anchored

2006

NAP

67,050

3,800,000

3,707,625

1,843,099

377,964

1,465,134

8/31/2022

T-12

1,725,055

336,063

1,388,992

12/31/2021

T-12

1,794,662

354,009

1,440,653

12/31/2020

T-12

94.7%

1,888,547

386,766

1,501,781

10,058

40,230

1,451,494

22,500,000

As Is

9/16/2022

95.2%

10/25/2022

Children's Healthcare of Atlanta, Inc.

17,650

26.3%

6/30/2026

Dollar Tree

10,000

14.9%

11/30/2026

Shoe Department

5,000

7.5%

9/30/2023

Massage Envy

4,000

6.0%

12/31/2026

Rainbow

4,000

6.0%

6/30/2027

9/23/2022

NAP

9/23/2022

NAP

Fee

NAP

15.02

Property

Shoppes at Westgate

0.4%

11.5%

1114 & 1115 New Pointe Boulevard

Leland

Brunswick

28451

Retail

Shadow Anchored

2006

NAP

47,700

2,771,429

2,704,058

1,268,613

169,387

1,099,226

8/31/2022

T-12

1,191,351

162,541

1,028,809

12/31/2021

T-12

1,240,312

158,550

1,081,762

12/31/2020

T-12

100.0%

1,288,054

199,266

1,088,788

7,155

28,620

1,053,013

15,000,000

As Is

9/20/2022

100.0%

10/25/2022

Dollar Tree

10,000

21.0%

2/28/2027

Sherwin Williams

4,800

10.1%

12/31/2024

Shoe Department

4,700

9.9%

3/31/2028

San Felipe

4,000

8.4%

2/28/2027

Six Happiness, Inc

4,000

8.4%

10/31/2023

9/23/2022

NAP

9/26/2022

NAP

Fee

NAP

15.03

Property

Shoppes at Richland

0.3%

10.2%

3581 Richland Avenue West

Aiken

29801

Retail

Shadow Anchored

2007

NAP

53,100

2,442,857

2,383,473

1,200,722

224,672

976,050

8/31/2022

T-12

1,116,199

238,984

877,216

12/31/2021

T-12

1,181,042

209,236

971,806

12/31/2020

T-12

90.9%

1,210,073

232,574

977,499

7,965

31,860

937,674

14,200,000

As Is

9/20/2022

92.5%

10/25/2022

Dollar Tree

9,500

17.9%

8/31/2027

Shoe Department

4,800

9.0%

1/31/2028

Maurices

4,800

9.0%

3/31/2025

Dancing Crab

4,000

7.5%

10/31/2031

Ferrando's Pizza

2,800

5.3%

1/31/2026

9/23/2022

NAP

9/26/2022

NAP

Fee

NAP

15.04

Property

Shoppes at White Knoll

0.3%

9.1%

1780 South Lake Drive

Lexington

29073

Retail

Shadow Anchored

2007

NAP

40,100

2,185,714

2,132,582

1,040,345

189,407

850,939

8/31/2022

T-12

1,008,569

182,125

826,444

12/31/2021

T-12

963,036

181,346

781,691

12/31/2020

T-12

100.0%

1,063,639

195,524

868,115

6,015

24,060

838,040

11,100,000

As Is

9/20/2022

100.0%

10/25/2022

Dollar Tree

10,000

24.9%

10/31/2027

Shoe Department

5,600

14.0%

10/31/2027

Chapala Mexican Restaurant

4,400

11.0%

8/31/2023

Hwy 55 Burgers, Shakes and Fries

2,000

5.0%

12/31/2024

Hibachi Express

1,600

4.0%

12/31/2027

9/23/2022

NAP

9/26/2022

NAP

Fee

NAP

15.05

Property

Chamblee Village

0.3%

8.4%

1871 Chamblee Tucker Road

Atlanta

DeKalb

30341

Retail

Shadow Anchored

2006

NAP

38,993

2,014,286

1,965,320

691,444

351,956

339,488

8/31/2022

T-12

770,589

331,577

439,012

12/31/2021

T-12

874,691

348,223

526,469

12/31/2020

T-12

87.2%

1,167,393

365,561

801,832

5,849

23,396

772,587

13,000,000

As Is

9/19/2022

85.6%

10/25/2022

So Amazing Salon Suites

6,000

15.4%

4/30/2027

Atlanta Eye Center

3,959

10.2%

5/31/2032

Georgia Clinic Urgent Care

3,500

9.0%

1/31/2033

MetroPCS

2,800

7.2%

1/31/2025

Gamestop

2,700

6.9%

8/31/2023

9/23/2022

NAP

9/26/2022

NAP

Fee

NAP

15.06

Property

Shoppes at Sanford

0.2%

8.0%

3218-3294 South NC 87 Highway

Sanford

Lee

27330

Retail

Shadow Anchored

2007

2017

50,300

1,928,571

1,881,690

984,409

255,467

728,943

8/31/2022

T-12

883,633

244,071

639,563

12/31/2021

T-12

926,601

208,471

718,130

12/31/2020

T-12

76.1%

1,053,052

272,761

780,291

7,545

30,180

742,566

12,400,000

As Is

9/19/2022

76.9%

10/25/2022

Rue21

6,000

11.9%

1/31/2024

Shoe Department

5,800

11.5%

10/31/2027

King Chinese Buffet

5,000

9.9%

1/31/2028

Gamestop

2,400

4.8%

1/31/2028

Athlete's Foot

2,400

4.8%

4/30/2027

9/23/2022

NAP

9/26/2022

NAP

Fee

NAP

15.07

Property

Grandview Station

0.2%

8.0%

2845 Sugar Hill Road

Marion

McDowell

28752

Retail

Shadow Anchored

2011

NAP

41,100

1,914,286

1,867,751

783,729

158,875

624,854

8/31/2022

T-12

756,877

159,439

597,439

12/31/2021

T-12

777,812

155,008

622,803

12/31/2020

T-12

100.0%

937,443

171,266

766,178

6,165

24,660

735,353

9,300,000

As Is

9/22/2022

100.0%

10/25/2022

Dollar Tree

8,000

19.5%

1/31/2027

Shoe Show

5,100

12.4%

2/28/2026

Hopscotch Health

4,500

10.9%

10/31/2032

New China Buffet

3,500

8.5%

11/30/2026

Luisa's Italian Restaurant & Pizzeria

3,200

7.8%

11/30/2023

9/26/2022

NAP

9/26/2022

NAP

Fee

NAP

15.08

Property

Glenn View Station

0.2%

7.7%

1541 Glenn School Road and 2237 East Geer Street

Durham

27704

Retail

Shadow Anchored

2008

NAP

56,830

1,857,143

1,811,997

1,028,802

313,933

714,869

8/31/2022

T-12

785,623

295,982

489,640

12/31/2021

T-12

747,463

289,828

457,636

12/31/2020

T-12

84.1%

1,101,006

336,760

764,246

8,525

34,098

721,623

11,900,000

As Is

9/12/2022

85.6%

10/25/2022

Dollar Tree

10,000

17.6%

3/31/2024

NC Beauty Outlet

7,000

12.3%

4/30/2023

Del Rancho

5,000

8.8%

1/31/2028

Magic Discounts

5,000

8.8%

5/31/2024

Shoe Show

3,800

6.7%

MTM

9/23/2022

NAP

9/26/2022

NAP

Fee

NAP

15.09

Property

Shoppes at Raeford

0.2%

6.2%

4545 Fayetteville Road

Raeford

Hoke

28376

Retail

Shadow Anchored

2010

NAP

47,550

1,485,714

1,449,598

870,938

171,714

699,223

8/31/2022

T-12

833,508

163,642

669,866

12/31/2021

T-12

841,881

139,903

701,978

12/31/2020

T-12

73.8%

779,487

174,211

605,276

7,133

28,530

569,613

10,600,000

As Is

9/19/2022

76.0%

10/25/2022

Dollar Tree

9,000

18.9%

4/30/2026

Petsense

6,000

12.6%

3/31/2033

JRL Beauty, Inc.

5,000

10.5%

5/31/2024

Carolinas Dentist

4,800

10.1%

4/30/2029

Black Friday Shoes Plus

3,150

6.6%

6/30/2027

9/23/2022

NAP

9/26/2022

NAP

Fee

NAP

15.10

Property

Shoppes at Oxford

0.2%

6.1%

1011 Lewis Street

Oxford

Granville

27565

Retail

Shadow Anchored

2009

NAP

39,550

1,457,143

1,421,721

751,031

151,461

599,569

8/31/2022

T-12

654,242

145,738

508,504

12/31/2021

T-12

697,630

143,434

554,197

12/31/2020

T-12

100.0%

756,374

160,448

595,926

5,933

23,730

566,264

8,100,000

As Is

9/12/2022

100.0%

10/25/2022

Dollar Tree

8,000

20.2%

1/31/2025

Aarons

6,400

16.2%

2/29/2024

Toros Cantina

5,200

13.1%

11/30/2023

CATO Fashions

4,000

10.1%

1/31/2026

Shoe Show

3,150

8.0%

MTM

9/23/2022

NAP

9/23/2022

NAP

Fee

NAP

15.11

Property

Shoppes at Goldsboro

0.2%

5.2%

2908 West U.S. 70 Highway

Goldsboro

Wayne

27530

Retail

Shadow Anchored

2007

NAP

41,000

1,257,143

1,226,583

599,588

156,689

442,899

8/31/2022

T-12

530,123

143,588

386,535

12/31/2021

T-12

541,076

141,753

399,323

12/31/2020

T-12

74.8%

685,264

167,396

517,868

6,150

24,600

487,118

8,400,000

As Is

9/20/2022

72.4%

10/25/2022

Dollar Tree

8,500

20.7%

10/31/2027

Dos Marias

5,000

12.2%

8/31/2026

A1 Business Center

2,000

4.9%

3/31/2024

Dough Boy's

2,000

4.9%

4/30/2023

Wayne County ABC

1,600

3.9%

2/28/2023

9/23/2022

NAP

9/26/2022

NAP

Fee

NAP

15.12

Property

Village at Red Bridge

0.1%

3.7%

11652 Redbridge Boulevard

Locust

Stanly

28097

Retail

Shadow Anchored

2010

NAP

26,700

885,714

864,183

443,533

150,540

292,993

8/31/2022

T-12

423,074

135,003

288,070

12/31/2021

T-12

461,163

138,566

322,597

12/31/2020

T-12

79.8%

518,228

156,933

361,295

4,005

16,020

341,270

5,500,000

As Is

9/12/2022

83.5%

10/25/2022

Dollar Tree

8,000

30.0%

7/31/2025

El Vaquero Grill

3,000

11.2%

12/31/2024

La Casa De Los Churros

2,100

7.9%

8/31/2027

AT&T

1,600

6.0%

2/28/2026

Pizza & Beyond, Inc

1,600

6.0%

2/28/2023

9/23/2022

NAP

9/26/2022

NAP

Fee

NAP

Loan

Societal CDMO

2.9%

100.0%

BMO

NAP

1300 South West Gould Drive

Gainesville

Hall

30504

Industrial

Flex

1983

2021

97,147

236.75

23,000,000

6.34500%

0.01625%

6.32875%

NAP

123,301.56

NAP

1,479,618.72

Interest Only

Actual/360

120

119

120

119

12/14/2022

2/6/2023

NAP

1/6/2033

L(25),DorYM1(90),O(5)

NAV

95.0%

3,434,535

2.32

14.9%

45,300,000

As Is

10/10/2022

50.8%

100.0%

2/6/2023

Yes

Societal CDMO

97,147

100.0%

12/31/2042

NAP

10/4/2022

NAP

10/4/2022

NAP

Fee

NAP

30,752

Springing

NAP

Soft

Springing

Yes

NAP

Tenet Equity Partners, Inc.

Acquisition

NAP

Loan

Embassy Suites El Paso

2.8%

100.0%

GCMC

NAP

6100 Gateway Boulevard East

El Paso

79905

Hospitality

Full Service

1976

2016-2017

187

Rooms

117,647.06

22,000,000

20,806,059

6.85200%

0.01625%

6.83575%

144,186.40

127,364.72

1,730,236.78

1,528,376.67

Interest Only, Amortizing Balloon

Actual/360

120

117

360

10/11/2022

12/6/2022

12/6/2027

11/6/2032

L(27),D(88),O(5)

7,902,736

4,794,000

3,108,736

8/31/2022

T-12

7,509,735

4,363,184

3,146,551

12/31/2021

T-12

4,795,953

3,594,290

1,201,663

12/31/2020

T-12

87.0%

7,902,736

4,734,785

3,167,951

237,082

2,930,869

1.83

1.69

14.4%

13.3%

37,500,000

As Complete

9/1/2024

58.7%

55.5%

87.0%

8/31/2022

NAP

8/26/2022

NAP

8/26/2022

NAP

Fee

NAP

445,959

43,650

Springing

0% of total revenue in the initial 12 months of the term, 2% of total revenue in year 2, and 4% of total revenue thereafter

5,187,899

PIP Reserve ($4,100,000), Room Addition Reserve ($1,087,899)

NAP

Hard

Springing

Yes

NAP

Westmont Investments, LLC

Westplace Modesto Investors, LLC, Francis Moezinia, Alam Pirani and Orlando Soccer Investors LLC

Yes

Acquisition

10/31/2037

126.58

110.09

87.0%

126.58

110.09

87.0%

116.63

105.81

90.7%

107.04

66.91

62.5%

Loan

Naples Center

2.8%

100.0%

Oceanview

NAP

7935-7955 Airport Road North

Naples

Collier

34109

Mixed Use

Retail/Office

2004

2019, 2022

73,675

298.61

22,000,000

20,685,416

6.38000%

0.01625%

6.36375%

137,323.33

118,591.20

1,647,879.96

1,423,094.44

Interest Only, Amortizing Balloon

Actual/360

120

115

360

8/22/2022

10/6/2022

10/6/2027

9/6/2032

L(29),D(87),O(4)

2,653,893

650,393

2,003,499

5/31/2022

T-12

2,399,132

634,678

1,764,455

12/31/2021

T-12

1,742,004

608,431

1,133,573

12/31/2020

T-12

95.0%

3,197,104

1,017,185

2,179,919

14,735

110,513

2,054,672

1.32

1.25

9.9%

9.3%

35,900,000

As Is

6/27/2022

61.3%

57.6%

100.0%

6/30/2022

Food & Thought

12,062

16.4%

4/30/2026

The Pearl

7,091

9.6%

8/31/2028

Sushi Thai Too

4,730

6.4%

12/31/2030

Orangetheory

4,248

5.8%

2/28/2030

Eye Associates

4,188

5.7%

1/14/2026

6/30/2022

NAP

6/30/2022

NAP

Fee

NAP

109,831

9,985

16,976

8,488

275,000

Springing

275,000

200,000

Springing

200,000

22,700

Condominium Assessments Reserve

NAP

Springing

Yes

NAP

2,000,000

10.00000%

24,000,000

154,874.76

66.9%

1.11

9.1%

NAP

Peter G. Pohlmann, Jr.

Acquisition

NAP

Loan

Hampton by Hilton Inn & Suites Wellington

2.7%

100.0%

LMF

Group B

NAP

2155 Wellington Green Drive

Wellington

Palm Beach

33414

Hospitality

Limited Service

2005

2017-2018

122

Rooms

172,131.15

21,000,000

19,309,259

6.94500%

0.01625%

6.92875%

138,938.69

123,225.52

1,667,264.28

1,478,706.24

Interest Only, Amortizing Balloon

Actual/360

120

118

360

12/9/2022

1/6/2023

1/6/2026

12/6/2032

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

7,320,046

3,235,211

4,084,835

11/30/2022

T-12

5,419,634

2,501,761

2,917,873

12/31/2021

T-12

3,857,154

2,115,871

1,741,283

12/31/2020

T-12

61.5%

7,320,046

3,781,986

3,538,060

292,802

3,245,258

2.12

1.95

16.8%

15.5%

34,500,000

As Is

11/3/2022

60.9%

56.0%

61.5%

11/30/2022

NAP

11/11/2022

NAP

11/11/2022

NAP

Fee

NAP

20,463

122,314

14,561

24,405

900,000

500,000

PIP Reserve

NAP

Springing

Yes

NAP

Robert Guarini

Refinance

2/24/2027

264.49

162.67

61.5%

264.49

162.67

61.5%

198.53

120.51

60.7%

193.43

85.26

44.1%

Loan

The Chatham Retail Condo

2.6%

100.0%

BMO

NAP

1110 Third Avenue

New York

10065

Retail

Unanchored

2000

NAP

25,673

802.40

20,600,000

6.52000%

0.01625%

6.50375%

NAP

113,481.20

NAP

1,361,774.40

Interest Only

Actual/360

120

119

120

119

12/22/2022

2/6/2023

NAP

1/6/2033

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

1,830,705

845,586

985,119

9/30/2022

T-12

1,504,529

795,110

709,419

12/31/2021

T-12

252,174

911,030

(658,856)

12/31/2020

T-12

95.0%

2,996,214

905,115

2,091,100

3,851

25,673

2,061,576

1.54

1.51

10.2%

10.0%

41,300,000

As Is

7/27/2022

49.9%

100.0%

11/1/2022

WORKSHOPPE

15,777

61.5%

6/30/2038

1Life (One Med)

6,076

23.7%

8/31/2030

TD Bank

2,141

8.3%

3/31/2031

Robert Segal PLLC (Manhattan Cardiology)

1,679

6.5%

12/31/2030

NAP

9/28/2022

NAP

9/28/2022

NAP

Fee

NAP

403,766

50,861

Springing

321

2,139

1,899,510

Springing

Free Rent Reserve (Upfront: $1,445,730), Workeshoppe TI/LC Reserve (Upfront: $431,000), Common Charge Reserve (Upfront: $22,786; Monthly: Springing)

NAP

Hard

Springing

Yes

NAP

Ben Ashkenazy and Daniel Levy

Yes

Refinance

NAP

Loan

Triple Net Portfolio

2.5%

3650 Real Estate Investment Trust 2 LLC

3650 REIT

NAP

Various

806,752

115.90

20,000,000

5.00000%

0.01625%

4.98375%

NAP

84,490.74

NAP

1,013,888.88

Interest Only

Actual/360

120

114

120

114

7/29/2022

9/5/2022

NAP

8/5/2032

L(30),D(86),O(4)

8,238,273

21,962

8,216,311

6/30/2022

T-12

NAV

95.0%

8,494,129

276,786

8,217,343

80,675

-78,312

8,214,980

1.73

8.8%

152,000,000

As Portfolio Assuming Reserves

6/1/2022

61.5%

100.0%

2/5/2023

Springing

4,000,000

Springing

500,000

NAP

Hard

In Place

Yes

20,000,000

73,500,000

310,503.47

394,994.21

NAP

93,500,000

394,994.21

61.5%

1.73

8.8%

NAP

Bryan L. Norton

Refinance

NAP

21.01

Property

417 & 433 West 164th Street

0.4%

14.7%

417 & 433 West 164th Street

Carson

Los Angeles

90248

Industrial

Manufacturing

1967, 2015

NAP

29,500

2,942,333

NAV

21,000,000

As Is

5/20/2022

100.0%

2/5/2023

Yes

Valence Surface Technologies

29,500

100.0%

10/6/2029

NAP

5/17/2022

NAP

5/12/2022

7/14/2022

13%

Fee

NAP

21.02

Property

5455 State Route 307 West

0.4%

14.4%

5455 State Route 307 West

Geneva

Ashtabula

44041

Industrial

Flex

1979

2008

212,382

2,872,278

NAV

20,500,000

As Is

5/20/2022

100.0%

2/5/2023

Yes

Hunter Defense Technologies

212,382

100.0%

2/15/2025

NAP

5/9/2022

NAP

5/6/2022

NAP

Fee

NAP

21.03

Property

508 Fishkill Avenue

0.4%

13.8%

508 Fishkill Avenue

Beacon

Dutchess

12508

Industrial

Warehouse/Distribution

2012

NAP

56,125

2,758,390

NAV

19,700,000

As Is

5/20/2022

100.0%

2/5/2023

Yes

Republic

56,125

100.0%

5/9/2027

NAP

5/12/2022

NAP

5/11/2022

NAP

Yes - AE

Fee

NAP

21.04

Property

10701 East 126th Street North

0.2%

9.1%

10701 East 126th Street North

Collinsville

Tulsa

74021

Industrial

Manufacturing

2004

2015

138,431

1,821,444

NAV

13,000,000

As Is

5/18/2022

100.0%

2/5/2023

Yes

Victory Energy

138,431

100.0%

9/30/2035

NAP

5/12/2022

NAP

5/12/2022

NAP

Fee

NAP

21.05

Property

120-150 West 154th Street

0.2%

8.8%

120, 124, 128, 132 and 150 West 154th Street

Gardena

Los Angeles

90248

Industrial

Manufacturing

1955

1983

27,620

1,755,667

NAV

12,500,000

As Is

5/20/2022

100.0%

2/5/2023

Yes

Valence Surface Technologies

27,620

100.0%

10/6/2029

NAP

5/11/2022

NAP

5/10/2022

7/14/2022

11%

Fee

NAP

21.06

Property

529 Aldo Avenue

0.2%

8.3%

529 Aldo Avenue

Santa Clara

95054

Industrial

Manufacturing

1973

2003

15,744

1,654,040

NAV

11,400,000

As Is

5/20/2022

100.0%

2/5/2023

Yes

NxEdge CSL

15,744

100.0%

10/6/2029

NAP

7/8/2022

NAP

5/12/2022

7/14/2022

17%

Fee

NAP

21.07

Property

758 East Utah Valley Drive

0.2%

8.2%

758 East Utah Valley Drive

American Fork

Utah

84003

Office

Suburban

1996

2015

53,480

1,648,489

NAV

12,400,000

As Is

6/2/2022

100.0%

2/5/2023

Yes

Myler Disability

53,480

100.0%

3/31/2025

NAP

5/11/2022

NAP

5/6/2022

10/27/2022

Fee

NAP

21.08

Property

7051 Patterson Drive

0.2%

6.2%

7051 Patterson Drive

Garden Grove

Orange

92841

Industrial

Manufacturing

1979

NAP

18,600

1,233,333

NAV

8,500,000

As Is

5/20/2022

100.0%

2/5/2023

Yes

Valence Surface Technologies

18,600

100.0%

10/6/2029

NAP

5/12/2022

NAP

5/12/2022

7/14/2022

17%

Fee

NAP

21.09

Property

255 Industrial Parkway

0.1%

4.2%

255 Industrial Parkway

Ithaca

Gratiot

48847

Industrial

Manufacturing

1983

1999

60,500

842,465

NAV

6,100,000

As Is

5/20/2022

100.0%

2/5/2023

Yes

Anchor Danly

60,500

100.0%

8/31/2039

NAP

5/11/2022

NAP

5/12/2022

NAP

Fee

NAP

21.10

Property

2801 North Earl Rudder Freeway

0.1%

4.2%

2801 North Earl Rudder Freeway

Bryan

Brazos

77803

Industrial

Warehouse/Distribution

2007

2010

26,156

840,667

NAV

6,000,000

As Is

5/13/2022

100.0%

2/5/2023

Yes

Rush Trucking

26,156

100.0%

10/1/2024

NAP

5/10/2022

NAP

5/6/2022

NAP

Yes - AE

Fee

NAP

21.11

Property

1200 North Maitlen Drive

0.1%

3.1%

1200 North Maitlen Drive

Cushing

Payne

74023

Industrial

Manufacturing

1984

2007

73,397

616,489

NAV

4,400,000

As Is

5/18/2022

100.0%

2/5/2023

Yes

Victory Energy

73,397

100.0%

10/13/2025

NAP

7/8/2022

NAP

5/12/2022

NAP

Fee

NAP

21.12

Property

2022 West Townline Road

0.1%

2.0%

2022 West Townline Road

Peoria

61615

Industrial

Manufacturing

1969

1985

56,000

406,322

NAV

2,900,000

As Is

5/18/2022

100.0%

2/5/2023

Yes

Kuusakoski Glass Recycling

56,000

100.0%

6/30/2023

NAP

7/8/2022

NAP

5/10/2022

NAP

Fee

NAP

21.13

Property

5450 Bishop Road

0.1%

2.0%

5450 Bishop Road

Geneva

Ashtabula

44041

Industrial

Flex

1965

2008

27,072

396,514

NAV

2,700,000

As Is

5/20/2022

100.0%

2/5/2023

Yes

Hunter Defense Technologies

27,072

100.0%

2/15/2025

NAP

5/9/2022

NAP

5/3/2022

NAP

Fee

NAP

21.14

Property

13210 Kingston Avenue

0.0%

1.1%

13210 Kingston Avenue

Chester

Chesterfield

23836

Industrial

Warehouse/Distribution

1973

1982

11,745

211,568

NAV

1,540,000

As Is

5/17/2022

100.0%

2/5/2023

Yes

Messer

11,745

100.0%

2/28/2031

NAP

7/8/2022

NAP

5/11/2022

NAP

Fee

NAP

Loan

Stoney Creek Hotel Portfolio

2.2%

BMO

NAP

Various

Hospitality

Limited Service

Various

NAP

1,085

Rooms

28,479.26

17,000,000

15,489,772

6.44000%

0.01625%

6.42375%

106,781.64

92,500.46

1,281,379.72

1,110,005.55

Interest Only, Amortizing Balloon

Actual/360

120

119

360

12/20/2022

2/6/2023

2/6/2026

1/6/2033

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

28,081,434

19,726,870

8,354,564

10/31/2022

T-12

24,095,435

17,094,502

7,000,933

12/31/2021

T-12

14,708,755

12,155,711

2,553,044

12/31/2020

T-12

50.7%

28,079,780

20,213,159

7,866,621

1,123,191

6,743,429

3.38

2.90

25.5%

21.8%

68,500,000

As Is

Various

45.1%

41.1%

50.7%

10/31/2022

662,294

132,589

449,553

40,868

93,677

173,498

375,083

39,042

Seasonality Reserve (Upfront: $363,000; Monthly: $33,000), Ground Rent Reserve (Upfront: $12,083.33; Monthly: $6,041.66)

NAP

Hard

Springing

Yes

17,000,000

13,900,000

87,309.69

194,091.33

NAP

30,900,000

194,091.33

45.1%

2.90

25.5%

NAP

Stoney Creek Hospitality Corporation

SCI Lodging Group, L.L.C.

Refinance

NAP

117.92

59.78

50.7%

117.92

59.78

50.7%

115.37

52.19

45.2%

153.15

32.14

21.0%

22.01

Property

Stoney Creek Hotel St. Joseph

0.5%

21.2%

1201 North Woodbine Road

Saint Joseph

Buchanan

64506

Hospitality

Limited Service

2002

NAP

129

Rooms

3,601,909

3,281,927

4,279,312

2,602,974

1,676,338

10/31/2022

T-12

3,608,026

2,210,406

1,397,620

12/31/2021

T-12

2,706,924

1,662,184

1,044,740

12/31/2020

T-12

71.2%

4,280,729

2,727,942

1,552,787

171,229

1,381,558

14,800,000

As Is

10/20/2022

71.2%

10/31/2022

NAP

10/20/2022

NAP

10/20/2022

NAP

Fee

NAP

107.54

76.57

71.2%

107.48

76.54

71.2%

100.83

65.87

65.3%

128.97

48.87

37.9%

22.02

Property

Stoney Creek Hotel Sioux City

0.4%

19.0%

300 3rd Street

Sioux City

Woodbury

51101

Hospitality

Limited Service

2009

NAP

161

Rooms

3,237,152

2,949,573

4,918,724

3,276,626

1,642,098

10/31/2022

T-12

4,406,774

2,826,891

1,579,883

12/31/2021

T-12

2,837,830

2,043,289

794,541

12/31/2020

T-12

53.7%

4,918,724

3,351,229

1,567,495

196,749

1,370,746

13,600,000

As Is

10/18/2022

53.7%

10/31/2022

NAP

10/20/2022

NAP

10/20/2022

NAP

Yes - AO

Fee

NAP

127.27

68.30

53.7%

127.27

68.30

53.7%

128.90

63.52

49.3%

163.83

41.75

25.5%

22.03

Property

Stoney Creek Hotel Columbia

0.4%

16.7%

2601 South Providence Road

Columbia

Boone

65203

Hospitality

Limited Service

2003

NAP

180

Rooms

2,847,087

2,594,161

5,088,403

3,431,968

1,656,435

10/31/2022

T-12

3,504,527

2,590,333

914,194

12/31/2021

T-12

1,586,116

1,611,652

(25,536)

12/31/2020

T-12

51.0%

5,087,801

3,628,094

1,459,707

203,512

1,256,195

10,500,000

As Is

10/20/2022

51.0%

10/31/2022

NAP

10/20/2022

NAP

10/20/2022

NAP

Fee

NAP

114.61

58.45

51.0%

114.56

58.45

51.0%

111.72

43.69

39.1%

187.30

18.96

10.1%

22.04

Property

Stoney Creek Hotel Des Moines – Johnston

0.3%

12.0%

5291 Stoney Creek Court

Johnston

Polk

50131

Hospitality

Limited Service

2001

NAP

164

Rooms

2,035,599

1,854,762

3,146,067

2,642,692

503,375

10/31/2022

T-12

2,868,431

2,319,397

549,034

12/31/2021

T-12

1,945,887

1,959,004

(13,117)

12/31/2020

T-12

35.6%

3,145,943

2,568,475

577,468

125,838

451,630

9,500,000

As Is

10/17/2022

35.6%

10/31/2022

NAP

10/19/2022

NAP

10/20/2022

NAP

Fee

NAP

119.99

42.72

35.6%

119.99

42.72

35.6%

122.15

38.12

31.2%

149.15

27.32

18.3%

22.05

Property

Stoney Creek Inn Galena

0.2%

10.1%

940 Galena Square Drive

Galena

Jo Daviess

61036

Hospitality

Limited Service

1996

NAP

Rooms

1,725,307

1,572,036

2,349,638

1,473,300

876,338

10/31/2022

T-12

2,313,908

1,381,043

932,865

12/31/2021

T-12

1,204,879

924,391

280,488

12/31/2020

T-12

59.0%

2,348,366

1,512,147

836,218

93,935

742,284

6,200,000

As Is

10/19/2022

59.0%

10/31/2022

NAP

10/19/2022

NAP

10/20/2022

NAP

Fee

NAP

139.79

82.48

59.0%

139.79

82.52

59.0%

133.77

81.44

60.9%

141.65

41.59

29.4%

22.06

Property

Stoney Creek Hotel Quad Cities – Moline

0.2%

7.9%

101 18th Street

Moline

Rock Island

61265

Hospitality

Limited Service

2005

NAP

140

Rooms

1,334,693

1,216,123

3,247,529

2,550,981

696,548

10/31/2022

T-12

2,884,170

2,414,778

469,392

12/31/2021

T-12

1,398,959

1,564,830

(165,871)

12/31/2020

T-12

48.1%

3,245,598

2,612,607

632,991

129,824

503,167

5,600,000

As Is

10/19/2022

48.1%

10/31/2022

NAP

10/20/2022

NAP

10/20/2022

NAP

Fee / Leasehold

1/6/2035

Two, 15-year options

72,500

NAP

113.48

54.58

48.1%

113.48

54.62

48.1%

112.44

44.01

39.1%

186.48

22.25

11.9%

22.07

Property

Stoney Creek Hotel Peoria

0.2%

7.2%

101 Mariners Way

East Peoria

Tazewell

61611

Hospitality

Limited Service

2000

NAP

164

Rooms

1,221,359

1,112,857

3,121,302

2,379,788

741,514

10/31/2022

T-12

2,695,989

2,031,887

664,102

12/31/2021

T-12

1,697,126

1,474,663

222,463

12/31/2020

T-12

39.6%

3,121,302

2,432,856

688,446

124,852

563,594

4,700,000

As Is

10/17/2022

39.6%

10/31/2022

NAP

10/19/2022

NAP

10/20/2022

NAP

Fee

NAP

116.19

46.06

39.6%

116.19

46.06

39.6%

112.30

41.01

36.5%

166.70

25.87

15.5%

22.08

Property

Stoney Creek Inn Quincy

0.1%

5.9%

3809 Broadway Street

Quincy

Adams

62305

Hospitality

Limited Service

1998

NAP

Rooms

996,893

908,332

1,930,459

1,368,541

561,918

10/31/2022

T-12

1,813,610

1,319,767

493,843

12/31/2021

T-12

1,331,034

915,698

415,336

12/31/2020

T-12

62.4%

1,931,317

1,379,808

551,510

77,253

474,257

3,600,000

As Is

10/20/2022

62.4%

10/31/2022

NAP

10/20/2022

NAP

10/20/2022

NAP

Fee

NAP

113.04

70.54

62.4%

113.03

70.51

62.4%

105.81

66.50

62.9%

137.10

48.22

35.2%

Loan

TownePlace Suites Port St. Lucie I-95

2.1%

100.0%

LMF

Group B

NAP

10460 Southwest Village Parkway

Port St. Lucie

St. Lucie

34987

Hospitality

Extended Stay

2019

NAP

128

Rooms

129,687.50

16,600,000

15,263,509

6.94500%

0.01625%

6.92875%

109,827.73

97,406.84

1,317,932.76

1,168,882.08

Interest Only, Amortizing Balloon

Actual/360

120

118

360

12/9/2022

1/6/2023

1/6/2026

12/6/2032

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

5,690,092

2,999,794

2,690,299

11/30/2022

T-12

4,294,490

2,394,694

1,899,795

12/31/2021

T-12

2,802,609

1,927,366

875,243

12/31/2020

T-12

87.0%

5,690,092

3,079,890

2,610,202

227,604

2,382,599

1.98

1.81

15.7%

14.4%

28,200,000

As Is

11/1/2022

58.9%

54.1%

87.0%

11/30/2022

NAP

11/10/2022

NAP

11/11/2022

NAP

Fee

NAP

22,141

112,184

13,355

18,688

900,000

NAP

Springing

Yes

NAP

Robert Guarini and Lori Guarini

Refinance

11/26/2039

137.44

119.58

87.0%

137.44

119.58

87.0%

118.60

90.24

76.1%

109.05

58.23

53.4%

Loan

Walgreens Orlando Operations Center

2.0%

100.0%

AREF

NAP

8337 Southpark Circle

Orlando

Orange

32819

Office

Suburban

2000

2021

133,710

119.66

16,000,000

6.25000%

0.01625%

6.23375%

NAP

84,490.74

NAP

1,013,888.88

Interest Only

Actual/360

120

118

120

118

11/15/2022

1/6/2023

NAP

12/6/2032

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

NAV

95.0%

2,501,854

655,715

1,846,140

20,057

66,855

1,759,228

1.82

1.74

11.5%

11.0%

32,700,000

As Is

10/5/2022

48.9%

100.0%

2/6/2023

Yes

Walgreen Co.

133,710

100.0%

10/31/2032

NAP

10/13/2022

NAP

10/13/2022

NAP

Fee

NAP

Springing

5,571

NAP

Hard

Springing

Yes

NAP

Michael Packman and Keystone 1031, LLC

Yes

Acquisition

NAP

Loan

Rivercrest 3-Pack Portfolio

2.0%

GCMC

NAP

Various

Retail

Various

NAP

125,167

127.83

16,000,000

5.36200%

0.01625%

5.34575%

NAP

72,486.30

NAP

869,835.56

Interest Only

Actual/360

120

114

120

114

7/8/2022

9/6/2022

NAP

8/6/2032

L(30),D(85),O(5)

2,262,637

631,542

1,631,095

9/30/2022

T-12

2,232,177

570,680

1,661,497

12/31/2021

T-12

2,074,337

506,663

1,567,674

12/31/2020

T-12

93.1%

2,157,348

491,439

1,665,908

23,779

80,140

1,561,989

1.92

1.80

10.4%

9.8%

25,540,000

As Is

Various

62.6%

95.5%

10/1/2022

63,509

12,702

Springing

1,982

250,000

Springing

150,000

NAP

Springing

Yes

NAP

Stanley Werb and Jonathan Gaines

Jonathan Gaines and Stanley Werb

Refinance

NAP

25.01

Property

Norton Commons

1.1%

53.4%

647-702 Commonwealth Drive

Norton

Wise

24273

Retail

Anchored

2005

NAP

81,270

8,550,000

1,168,105

296,338

871,768

9/30/2022

T-12

1,145,898

265,183

880,715

12/31/2021

T-12

1,066,055

220,678

845,377

12/31/2020

T-12

91.5%

1,127,089

222,248

904,841

16,254

52,034

836,553

14,100,000

As Is

6/23/2022

93.1%

10/1/2022

Burke's Outlet Store

30,000

36.9%

1/31/2028

Shoe Show

9,953

12.2%

1/31/2027

Hibbett Sports

8,225

10.1%

6/30/2025

Maurices

4,953

6.1%

2/28/2024

Los Rodeos

3,200

3.9%

1/31/2026

6/20/2022

NAP

6/17/2022

NAP

Fee

NAP

25.02

Property

Marketplace At Locust Grove

0.6%

30.3%

4959 Bill Gardner Parkway

Locust Grove

Henry

30248

Retail

Shadow Anchored

2012

NAP

27,172

4,850,000

703,307

218,415

484,892

9/30/2022

T-12

730,825

216,287

514,538

12/31/2021

T-12

676,738

197,663

479,075

12/31/2020

T-12

95.0%

680,929

183,866

497,063

4,348

17,397

475,318

7,450,000

As Is

6/20/2022

100.0%

10/1/2022

Dollar Tree

9,000

33.1%

9/30/2027

San Diego Mexican Restaurant

5,000

18.4%

2/28/2028

T-Mobile

2,200

8.1%

9/30/2027

Little Caesar's

1,950

7.2%

1/31/2023

GameStop

1,800

6.6%

1/31/2024

6/16/2022

NAP

6/20/2022

NAP

Fee

NAP

25.03

Property

Lexington Shopping Center

0.3%

16.3%

262-288 Lowes Boulevard

Lexington

Davidson

27292

Retail

Shadow Anchored

2009

NAP

16,725

2,600,000

391,225

116,790

274,436

9/30/2022

T-12

355,454

89,210

266,244

12/31/2021

T-12

331,544

88,322

243,222

12/31/2020

T-12

95.0%

349,329

85,326

264,004

3,178

10,708

250,118

3,990,000

As Is

6/18/2022

100.0%

10/1/2022

Shoe Department

8,225

49.2%

6/30/2028

Verizon

2,400

14.3%

2/28/2027

AT&T

2,400

14.3%

5/31/2024

Subway

1,600

9.6%

7/31/2024

Citi Nails & Spa

1,200

7.2%

8/31/2023

6/20/2022

NAP

6/16/2022

NAP

Fee

NAP

Loan

800 Cesar Chavez

1.9%

100.0%

3650 Real Estate Investment Trust 2 LLC

3650 REIT

NAP

630 and 640-800 Cesar Chavez

San Francisco

94124

Industrial

Warehouse

1953

2022

122,360

310.56

15,000,000

4.11000%

0.01625%

4.09375%

NAP

52,088.54

NAP

625,062.48

Interest Only

Actual/360

120

109

120

109

2/22/2022

4/5/2022

NAP

3/5/2032

L(35),D(81),O(4)

NAV

99.0%

3,271,904

98,157

3,173,746

5,403

-5,403

3,173,746

2.00

8.4%

70,700,000

As Is

3/28/2022

53.7%

100.0%

2/5/2023

Yes

GM Cruise

122,360

100.0%

11/30/2030

NAP

12/15/2021

NAP

9/15/2022

12/14/2021

24%

Fee

NAP

Springing

89,199

Springing

450

600,000

2,251

336,010

Rent Reduction Reserve ($180,350), Debt Service Supplement Reserve ($155,660)

NAP

Hard

Springing

Yes

15,000,000

23,000,000

79,869.10

131,957.64

NAP

38,000,000

131,957.64

53.7%

2.00

8.4%

NAP

Matthew Stern, Daniel Sachs and WCM-GGG, LLC

Yes

Refinance

NAP

Loan

180-186 Cedar Street

1.8%

100.0%

Arbor

BMO

NAP

180-186 Cedar Street

Paterson

Passaic

07501

Multifamily

Mid Rise

2022

NAP

Units

240,491.53

14,189,000

6.23000%

0.01625%

6.21375%

NAP

74,687.68

NAP

896,252.16

Interest Only

Actual/360

120

117

120

117

10/7/2022

12/1/2022

NAP

11/1/2032

L(27),D(90),O(3)

1,109,730

81,145

1,028,586

10/31/2022

T-3 Ann

NAP

95.0%

1,448,380

169,055

1,279,325

14,750

1,264,575

1.43

1.41

9.0%

8.9%

24,600,000

As Is

8/25/2022

57.7%

100.0%

10/31/2022

NAP

9/14/2022

NAP

9/14/2022

NAP

Fee

NAP

3,395

679

9,204

2,301

3,688

1,229

61,250

NAP

Springing

Yes

NAP

1,695,000

12.00000%

15,884,000

91,637.68

64.6%

1.15

8.1%

NAP

Matthew Florio

Refinance

Yes

NAP

Loan

Kingston Square Apartments

1.8%

100.0%

BMO

Group C

NAP

7171 East Twin Oaks Drive

Indianapolis

Marion

46226

Multifamily

Garden

1963, 1992, 1995

2020-2022

523

Units

97,514.34

14,000,000

5.82000%

0.14000%

5.68000%

NAP

68,843.06

NAP

826,116.72

Interest Only

Actual/360

120

115

120

115

8/25/2022

10/6/2022

NAP

9/6/2032

L(29),D(87),O(4)

6,276,231

1,842,797

4,433,434

7/31/2022

T-12

5,912,240

1,705,446

4,206,794

12/31/2021

T-12

4,941,322

1,527,179

3,414,143

12/31/2020

T-12

95.0%

6,548,668

1,853,250

4,695,418

104,600

4,590,818

1.56

1.53

9.2%

9.0%

85,700,000

As Is

8/1/2022

59.5%

96.9%

8/18/2022

NAP

8/4/2022

NAP

8/8/2022

NAP

Fee

NAP

154,550

25,069

Springing

8,717

110,375

NAP

Springing

Yes

14,000,000

37,000,000

181,942.36

250,785.42

NAP

51,000,000

250,785.42

59.5%

1.53

9.2%

NAP

Joel Werzberger

Recapitalization

NAP

Loan

Hampton by Hilton Inn West Palm Beach-Lake Worth-Turnpike

1.6%

100.0%

LMF

Group B

NAP

8205 Lake Worth Road

Lake Worth

Palm Beach

33467

Hospitality

Limited Service

2006

2019

104

Rooms

123,076.92

12,800,000

11,769,453

6.94500%

0.01625%

6.92875%

84,686.44

75,108.89

1,016,237.28

901,306.68

Interest Only, Amortizing Balloon

Actual/360

120

118

360

12/9/2022

1/6/2023

1/6/2026

12/6/2032

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

4,938,048

2,466,743

2,471,305

11/30/2022

T-12

3,585,150

1,898,410

1,686,740

12/31/2021

T-12

2,375,948

1,482,255

893,693

12/31/2020

T-12

65.7%

4,938,048

2,710,115

2,227,933

197,522

2,030,411

2.19

2.00

17.4%

15.9%

22,000,000

As Is

11/3/2022

58.2%

53.5%

65.7%

11/30/2022

NAP

11/11/2022

NAP

11/11/2022

NAP

Fee

NAP

13,075

82,771

9,854

16,151

600,000

300,000

PIP Reserve

NAP

Springing

Yes

NAP

Robert Guarini and Lori Guarini

Refinance

1/18/2028

197.62

129.74

65.7%

197.62

129.74

65.7%

159.60

94.01

58.9%

144.46

61.97

42.9%

Loan

PetSmart HQ

1.6%

100.0%

3650 Real Estate Investment Trust 2 LLC

3650 REIT

NAP

19601 North 27th Avenue

Phoenix

Maricopa

85027

Office

CBD

1997, 2008

2020

365,672

185.96

12,650,000

4.28000%

0.01625%

4.26375%

NAP

45,744.98

NAP

548,939.76

Interest Only

Actual/360

3/31/2021

5/5/2021

NAP

4/5/2028

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%

108,600,000

As Is

3/10/2021

62.6%

100.0%

2/5/2023

Yes

PetSmart Home Office, Inc.

365,672

100.0%

3/31/2032

NAP

3/15/2021

NAP

3/15/2021

NAP

Fee

NAP

Springing

8,532

30,473

146,929

9,141,800

PetSmart TI Reserve

NAP

Hard

In Place

Yes

12,650,000

55,350,000

200,156.87

245,901.85

NAP

68,000,000

245,901.85

62.6%

2.26

10.5%

12,000,000

12.00000%

80,000,000

367,568.52

73.7%

1.51

8.9%

NAP

Walter C. Bowen

Acquisition

NAP

Loan

Towneplace Suites Glendale

1.6%

100.0%

BMO

Group C

NAP

7271 North Zanjero Boulevard

Glendale

Maricopa

85305

Hospitality

Extended Stay

2019

NAP

Rooms

135,869.57

12,500,000

6.90000%

0.01625%

6.88375%

NAP

72,873.26

NAP

874,479.12

Interest Only

Actual/360

120

119

120

119

12/13/2022

2/6/2023

NAP

1/6/2033

L(25),D(88),O(7)

4,185,078

2,218,417

1,966,661

12/31/2022

T-12

3,380,786

1,961,386

1,419,400

12/31/2021

T-12

845,607

732,756

112,851

12/31/2020

T-12

75.7%

4,185,078

2,291,377

1,893,701

167,403

1,726,298

2.17

1.97

15.1%

13.8%

23,200,000

As Is

11/1/2022

53.9%

75.7%

10/31/2022

NAP

9/15/2022

NAP

9/15/2022

NAP

Fee

NAP

10,007

Springing

The greater of (i) 1/12th of 4% of Gross Revenues or (ii) the amount of the deposit (if any) then required by the Franchisor on account of FF&E under the Franchise Agreement

14,963

NAP

Hard

Springing

Yes

NAP

Bradford Allen Enterprises LLC

Acquisition

7/6/2040

156.72

118.70

75.7%

156.72

118.70

75.7%

124.51

96.05

77.1%

93.57

49.38

52.8%

Loan

Mountain Vista Apartments

1.4%

100.0%

Arbor

BMO

NAP

5757 Will Ruth Avenue

El Paso

79924

Multifamily

Garden

2009

2021-2022

160

Units

70,312.50

11,250,000

10,000,830

5.19000%

0.01625%

5.17375%

61,705.50

49,332.03

740,466.00

591,984.36

Interest Only, Amortizing Balloon

Actual/360

120

111

360

4/28/2022

6/1/2022

6/1/2025

5/1/2032

L(33),D(84),O(3)

1,647,960

599,772

1,048,188

9/30/2022

T-12

1,431,579

617,207

814,372

12/31/2020

T-12

1,262,029

584,216

677,813

12/31/2019

T-12

93.7%

1,691,687

636,105

1,055,582

40,000

1,015,582

1.43

1.37

9.4%

9.0%

15,600,000

As Is

3/16/2022

72.1%

64.1%

97.5%

9/30/2022

NAP

3/17/2022

NAP

3/18/2022

NAP

Fee

NAP

77,988

12,998

16,185

3,237

10,000

3,333

NAP

Springing

Yes

NAP

Scott MacDowell, Mark Blair and Mark Goldberg

Refinance

NAP

Loan

Oak Ridge Office Park

1.3%

Natixis

NAP

Various

Oak Ridge

Anderson

37830

Office

Suburban

Various

NAP

448,965

58.81

10,800,000

10,560,897

8,516,961

3.80400%

0.01625%

3.78775%

50,347.99

NAP

604,175.88

NAP

Amortizing Balloon

Actual/360

120

105

360

345

10/29/2021

12/5/2021

11/5/2031

L(39),D(78),O(3)

6,828,583

3,315,917

3,512,666

6/30/2022

T-12

6,869,913

3,206,153

3,663,760

12/31/2021

T-12

6,592,651

3,073,017

3,519,634

12/31/2020

T-12

82.8%

6,732,972

3,329,584

3,403,388

70,002

448,965

2,884,420

2.25

1.91

12.9%

10.9%

38,400,000

As Is

11/1/2022

68.8%

55.4%

78.3%

10/1/2022

48,457

29,585

Springing

5,834

1,500,000

37,414

3,000,000

106,469

NAP

Hard

Springing

Yes

10,560,897

15,841,346

75,521.98

125,869.97

NAP

26,402,243

125,869.97

68.8%

1.91

12.9%

NAP

John C. Harvey and Edward J. Sussi

Refinance

NAP

33.01

Property

Oak Ridge Technical Center

1.0%

72.8%

1009, 1055, 1060, 1087, 1093, 1099 Commerce Park Drive

Oak Ridge

Anderson

37830

Office

Suburban

1991-1999

NAP

290,365

7,861,395

7,687,350

6,199,555

4,621,902

2,099,661

2,522,241

6/30/2022

T-12

4,465,967

2,004,517

2,461,450

12/31/2021

T-12

4,231,707

1,868,816

2,362,891

12/31/2020

T-12

91.6%

4,595,635

2,113,561

2,482,074

45,274

290,365

2,146,435

27,500,000

As Is

11/1/2022

86.1%

10/1/2022

Consolidated Nuclear Security, Inc.

118,893

40.9%

11/22/2023

UT-Battelle, LLC

35,100

12.1%

3/8/2023

Avant, LLC

35,000

12.1%

10/31/2024

Tetra Tech, Inc.

19,553

6.7%

10,626 SF expiring 1/31/2024; 8,927 SF expiring 4/30/2024

Perma-Fix Environmental Services

16,319

5.6%

4/30/2026

11/17/2022

NAP

11/15/2022

NAP

Fee

NAP

33.02

Property

Oak Ridge Corporate Center

0.4%

27.2%

151 Lafayette Drive

Oak Ridge

Anderson

37830

Office

Suburban

1991

NAP

158,600

2,938,605

2,873,547

2,317,406

2,206,681

1,216,256

990,425

6/30/2022

T-12

2,403,946

1,201,636

1,202,310

12/31/2021

T-12

2,360,944

1,204,201

1,156,743

12/31/2020

T-12

68.7%

2,137,337

1,216,024

921,314

24,729

158,600

737,985

10,900,000

As Is

11/1/2022

63.9%

10/1/2022

SAIC

63,017

39.7%

5/31/2024

All Meds, Inc.

21,467

13.5%

2/28/2023

Energy Solutions, LLC

6,189

3.9%

6/19/2023

Cowperwood Company

6,104

3.8%

MTM

TCN dba Catawba Corporation

2,711

1.7%

3/22/2023

11/18/2022

NAP

11/15/2022

NAP

Fee

NAP

Loan

Gary Indiana Portfolio

1.3%

100.0%

Arbor

BMO

Group C

NAP

320 North Lake Street, 5700-5712 Cypress Avenue and 5806 Cypress Avenue

Gary

Lake

46403

Multifamily

Garden

1962, 1968, 1969

2021-2022

155

Units

66,451.61

10,300,000

9,922,758

5.95500%

0.14000%

5.81500%

61,456.03

51,823.66

737,472.36

621,883.92

Interest Only, Amortizing Balloon

Actual/360

360

7/18/2022

9/1/2022

9/1/2026

8/1/2029

L(30),D(51),O(3)

1,504,909

418,202

1,086,707

9/30/2022

T-12

1,428,134

458,327

969,807

12/31/2021

T-12

1,400,384

544,107

856,277

12/31/2020

T-12

95.0%

1,588,987

581,722

1,007,265

57,350

949,915

1.37

1.29

9.8%

9.2%

15,000,000

As Is

5/31/2022

68.7%

66.2%

96.8%

9/30/2022

NAP

6/16/2022

NAP

6/16/2022

NAP

Fee

NAP

46,566

9,313

4,030

14,338

4,779

52,548

NAP

Springing

Yes

NAP

Joel Werzberger

Refinance

NAP

Loan

1136 Crescent Ave

1.1%

100.0%

Oceanview

NAP

1136 Crescent Avenue Northeast

Atlanta

Fulton

30309

Mixed Use

Retail/Multifamily

1963

2020

11,200

736.61

8,250,000

5.20000%

0.01625%

5.18375%

NAP

36,246.53

NAP

434,958.33

Interest Only

Actual/360

10/7/2022

12/6/2022

NAP

11/6/2027

L(27),D(26),O(7)

877,894

166,173

711,720

8/31/2022

T-12

719,026

165,176

553,850

12/31/2021

T-12

536,206

107,005

429,201

12/31/2020

T-12

95.0%

880,363

192,554

687,808

1.58

8.3%

12,900,000

As Is

8/31/2022

64.0%

100.0%

10/7/2022

EMBR2

5,800

51.8%

1/31/2030

Fin & Feathers

5,400

48.2%

7/30/2031

NAP

9/7/2022

NAP

9/7/2022

NAP

Fee

NAP

7,482

Springing

25,900

84,000

NAP

Soft (Residential); Hard (Commercial)

Springing

Yes

NAP

Stephan P. Nemeth, George P. Edwards, III and Alastair C. Pimm

Refinance

NAP

Loan

Hampton Inn Bowie

1.0%

100.0%

BMO

NAP

15202 Major Lansdale Boulevard

Bowie

Prince George's

20716

Hospitality

Limited Service

1999

2014

103

Rooms

73,307.40

7,570,000

7,550,662

6,642,744

7.23000%

0.14000%

7.09000%

51,538.09

NAP

618,457.08

NAP

Amortizing Balloon

Actual/360

120

116

360

356

10/6/2022

11/6/2022

10/6/2032

L(28),D(88),O(4)

3,029,030

2,171,574

857,457

8/31/2022

T-12

2,515,921

1,972,370

543,551

12/31/2021

T-12

1,416,377

1,534,109

(117,731)

12/31/2020

T-12

70.7%

3,073,818

2,033,485

1,040,333

122,953

917,380

1.68

1.48

13.8%

12.1%

12,000,000

As Complete

9/1/2023

62.9%

55.4%

70.7%

8/31/2022

NAP

9/1/2022

NAP

9/1/2022

NAP

Fee

NAP

49,695

16,565

5,607

1,869

10,246

1,339,450

Springing

PIP Reserve (Upfront: $1,159,450.38), Seasonality Reserve (Upfront: $180,000; Monthly: Springing)

Seasonality Reserve ($180,000)

NAP

Hard

Springing

Yes

NAP

Pravin Kotadia and Ziaur Rahman

Acquisition

10/31/2037

113.87

80.56

70.7%

113.87

80.56

70.7%

97.72

66.91

68.5%

87.74

37.57

42.8%

Loan

151 NW 24th Street

0.9%

100.0%

SMC

NAP

151 NW 24th Street

Miami

Miami-Dade

33127

Retail

Unanchored

1948

NAP

6,665

1,049.67

7,000,000

6,996,019

6,153,279

7.30500%

0.01625%

7.28875%

48,013.75

NAP

576,165.00

NAP

Amortizing Balloon

Actual/360

120

119

360

359

12/30/2022

2/6/2023

1/6/2033

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

913,246

213,427

699,819

9/30/2022

T-12

NAV

94.0%

1,350,286

386,424

963,861

1,680

6,660

955,521

1.67

1.66

13.8%

13.7%

13,100,000

As Is

11/3/2022

53.4%

47.0%

100.0%

12/28/2022

The Dirty Rabbit

3,551

53.3%

11/30/2037

305 Pizza

1,165

17.5%

11/30/2027

Rabbit Corners

1,159

17.4%

11/30/2027

Smoke Stop

790

11.9%

11/30/2027

NAP

11/7/2022

NAP

11/7/2022

NAP

Fee

NAP

43,000

14,333

42,412

8,560

140

555

66,000

Smoke Stop Rent Reserve

NAP

Springing

Yes

NAP

Alvaro Rojas, Andres San Martin, Jonathan Taborda, Luis Fernando Gaviria Ramirez and Ana Montoya

Refinance

NAP

Loan

DPM - St Charles, MO

0.9%

100.0%

Oceanview

Group D

NAP

2661 and 2669 Veterans Memorial Parkway

St. Charles

63303

Self Storage

1973, 2019, 2022

2015

91,025

74.16

6,750,000

4.54000%

0.01625%

4.52375%

NAP

25,892.19

NAP

310,706.25

Interest Only

Actual/360

120

112

120

112

5/26/2022

7/6/2022

NAP

6/6/2032

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

1,311,665

495,119

816,546

9/30/2022

T-12

1,171,818

433,094

738,724

12/31/2021

T-12

1,021,931

468,694

553,237

12/31/2020

T-12

83.1%

1,421,457

511,330

910,127

13,064

26,051

871,012

2.93

2.80

13.5%

12.9%

15,880,000

As Is

6/4/2022

42.5%

83.3%

9/30/2022

NAP

2/23/2022

NAP

2/23/2022

NAP

Fee

NAP

103,585

14,798

Springing

130,639

260,513

36,438

NAP

Springing

Yes

NAP

David M. Frank, Sterling P. McGregor, The McGregor 2013 Irrevocable Trust Dated October 31, 2013, C & A Irrevocable 2014 Children's Trust Dated July 21, 2014 and Highland Partner, LLC

Yes

Refinance

NAP

Loan

Columbia Arms and Aspen-Alpine Apartments

0.7%

100.0%

Arbor

BMO

NAP

1459 Northwest Wayne Place and 1394 South Marion Avenue

Lake City

Columbia

32055

Multifamily

Garden

1963, 1968, 1977, 1982

2015, 2021

114

Units

49,596.49

5,654,000

5,021,640

5.15000%

0.01625%

5.13375%

30,872.32

24,602.10

370,467.84

295,225.20

Interest Only, Amortizing Balloon

Actual/360

120

112

360

5/6/2022

7/1/2022

7/1/2025

6/1/2032

L(32),D(85),O(3)

1,048,595

381,646

666,949

9/30/2022

T-12

996,965

416,342

580,624

12/31/2021

T-12

860,247

415,889

444,358

12/31/2020

T-12

94.8%

1,036,606

507,661

528,945

28,500

500,445

1.43

1.35

9.4%

8.9%

9,500,000

As Is

3/1/2022

59.5%

52.9%

96.5%

9/30/2022

NAP

3/11/2022

NAP

3/8/2022

NAP

Fee

NAP

38,994

7,799

31,194

10,398

7,125

2,375

NAP

Springing

Yes

NAP

Marvin H. Peavy, Jr.

Refinance

NAP

Loan

Fox Creek Apartments

0.7%

100.0%

Arbor

BMO

NAP

1100 West 70th Street

Shreveport

Caddo

71106

Multifamily

Garden

2002

NAP

128

Units

41,875.00

5,360,000

4,888,944

5.48000%

0.14000%

5.34000%

30,366.27

24,817.30

364,395.24

297,807.60

Interest Only, Amortizing Balloon

Actual/360

120

114

360

7/29/2022

9/1/2022

9/1/2026

8/1/2032

L(30),D(87),O(3)

1,024,193

612,299

411,894

9/30/2022

T-12

1,012,089

572,433

439,656

12/31/2021

T-12

1,004,222

675,251

328,971

12/31/2020

T-12

93.0%

1,093,110

606,212

486,898

32,753

454,145

1.34

1.25

9.1%

8.5%

8,300,000

As Is

4/11/2022

64.6%

58.9%

95.3%

7/25/2022

NAP

4/8/2022

NAP

4/8/2022

NAP

Fee

NAP

21,122

2,112

41,448

6,908

8,188

2,729

46,000

NAP

Springing

Yes

NAP

Arthur C. Lewis, III

Refinance

NAP

Loan

Sunnybrook MHC

0.7%

100.0%

SMC

NAP

5975 Northeast Berwick Drive

Berwick

Polk

50032

Manufactured Housing

1969

NAP

143

Pads

36,363.64

5,200,000

6.74000%

0.01625%

6.72375%

NAP

29,612.31

NAP

355,347.78

Interest Only

Actual/360

120

118

120

118

11/23/2022

1/6/2023

NAP

12/6/2032

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

805,544

306,811

498,733

10/31/2022

T-12

761,582

296,770

464,812

12/31/2021

T-12

660,644

311,024

349,620

12/31/2020

T-12

87.0%

818,038

320,367

497,670

12,404

485,266

1.40

1.37

9.6%

9.3%

12,000,000

As Is

11/14/2022

43.3%

90.2%

11/15/2022

NAP

10/19/2022

NAP

10/19/2022

NAP

Fee

NAP

23,927

5,982

3,818

1,909

1,034

74,813

450,000

Treatment Facility Reserve

NAP

Springing

Yes

NAP

Uri Minkoff and David Minkoff

Acquisition

NAP

Loan

DPM - Columbus, OH

0.6%

100.0%

Oceanview

Group D

NAP

3800 West Broad Street

Columbus

Franklin

43228

Self Storage

1977

2018

72,725

64.46

4,687,500

4.56000%

0.01625%

4.54375%

NAP

18,059.90

NAP

216,718.75

Interest Only

Actual/360

120

110

120

110

4/1/2022

5/6/2022

NAP

4/6/2032

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

957,667

420,667

537,000

9/30/2022

T-12

872,025

377,148

494,877

12/31/2021

T-12

835,810

384,832

450,978

12/31/2020

T-12

86.5%

988,051

458,633

529,418

9,730

30,750

488,938

2.44

2.26

11.3%

10.4%

8,800,000

As Is

2/10/2022

53.3%

89.5%

9/30/2022

NAP

2/23/2022

NAP

2/23/2022

NAP

Fee

NAP

9,730

Springing

97,300

307,188

NAP

Springing

Yes

NAP

David M. Frank, Sterling P. McGregor, The McGregor 2013 Irrevocable Trust Dated October 31, 2013, C & A Irrevocable 2014 Children's Trust Dated July 21, 2014 and Highland Partner, LLC

Yes

Refinance

NAP

Loan

DPM - Saginaw, MI

0.6%

100.0%

Oceanview

Group D

NAP

4435 Bay Road

Saginaw

48603

Self Storage

1974

2015

71,175

61.47

4,375,000

4.56000%

0.01625%

4.54375%

NAP

16,855.90

NAP

202,270.83

Interest Only

Actual/360

120

110

120

110

4/1/2022

5/6/2022

NAP

4/6/2032

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

898,062

391,056

507,006

9/30/2022

T-12

801,191

365,653

435,538

12/31/2021

T-12

755,127

353,357

401,770

12/31/2020

T-12

87.5%

939,165

394,559

544,607

10,676

533,930

2.69

2.64

12.4%

12.2%

7,900,000

As Is

2/9/2022

55.4%

87.7%

9/30/2022

NAP

2/23/2022

NAP

2/23/2022

NAP

Fee

NAP

31,380

6,276

Springing

182,641

18,000

NAP

Springing

Yes

NAP

David M. Frank, Sterling P. McGregor, The McGregor 2013 Irrevocable Trust Dated October 31, 2013, C & A Irrevocable 2014 Children's Trust Dated July 21, 2014 and Highland Partner, LLC

Yes

Refinance

NAP

Loan

Diamond Hill Lofts

0.5%

100.0%

GCMC

NAP

1503 Grace Street

Lynchburg

24504

Multifamily

Low Rise

1921

2021

Units

86,956.52

4,000,000

5.82000%

0.01625%

5.80375%

NAP

19,669.44

NAP

236,033.33

Interest Only

Actual/360

120

113

120

113

6/13/2022

8/6/2022

NAP

7/6/2032

L(31),D(85),O(4)

520,136

173,177

346,959

8/31/2022

T-3 Ann

NAP

95.0%

518,558

160,396

358,162

9,200

348,962

1.52

1.48

9.0%

8.7%

7,196,000

As Is

5/13/2022

55.6%

97.8%

9/15/2022

NAP

5/13/2022

NAP

5/13/2022

NAP

Fee

NAP

1,628

543

Springing

767

NAP

Springing

Yes

NAP

Robert W. Hargett and Daniel Hargett

Refinance

NAP

Loan

Southern Star NC Portfolio

0.5%

CREFI

NAP

Various

Self Storage

Various

NAP

46,905

75.68

3,550,000

6.85000%

0.01625%

6.83375%

NAP

20,546.04

NAP

246,552.48

Interest Only

Actual/360

120

116

120

116

10/5/2022

11/6/2022

NAP

10/6/2032

L(28),D(87),O(5)

608,916

210,629

398,287

8/31/2022

T-12

576,348

201,953

374,395

12/31/2021

T-12

534,177

189,193

344,984

12/31/2020

T-12

93.4%

615,868

235,918

379,950

5,841

374,109

1.54

1.52

10.7%

10.5%

7,300,000

As Is

Various

48.6%

99.6%

Various

5,301

1,767

11,820

5,910

15,352

487

36,875

NAP

Springing

Yes

NAP

Mark Torok, Louis Fox III and Michaeljohn Kudlik

Yes

Acquisition

NAP

45.01

Property

Main Street Self Storage

0.2%

50.7%

238 and 242 East Main Street

Havelock

Craven

28532

Self Storage

1974, 2009, 2011

NAP

31,231

1,800,000

336,902

139,905

196,997

8/31/2022

T-12

327,980

135,810

192,169

12/31/2021

T-12

307,367

128,359

179,008

12/31/2020

T-12

89.1%

343,854

133,153

210,701

3,123

207,578

4,400,000

As Is

8/2/2022

99.4%

8/31/2022

NAP

9/8/2022

NAP

9/7/2022

NAP

Fee

NAP

45.02

Property

Island Storage

0.2%

49.3%

53430 and 53460 North Carolina 12 Highway

Frisco

Dare

27936

Self Storage

2000, 2005

NAP

15,674

1,750,000

272,014

70,724

201,290

8/31/2022

T-12

248,368

66,143

182,226

12/31/2021

T-12

226,810

60,834

165,976

12/31/2020

T-12

99.6%

272,014

102,766

169,249

2,717

166,531

2,900,000

As Is

7/27/2022

100.0%

7/31/2022

NAP

9/8/2022

NAP

9/8/2022

NAP

Yes - AE

Fee

NAP

Loan

Whispering Lakes MHC

0.4%

100.0%

LMF

NAP

21 Lakefront Road

Ozark

Dale

36360

Manufactured Housing

1991

NAP

116

Pads

24,137.93

2,800,000

6.85000%

0.01625%

6.83375%

NAP

16,205.32

NAP

194,463.84

Interest Only

Actual/360

120

119

120

119

12/16/2022

2/6/2023

NAP

1/6/2033

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

323,151

69,520

253,631

11/30/2022

T-12

268,568

79,434

189,134

12/31/2021

T-12

187,465

64,172

123,293

12/31/2020

T-12

79.2%

355,809

82,564

273,245

5,800

267,445

1.41

1.38

9.8%

9.6%

5,600,000

As Is

9/4/2022

50.0%

79.3%

12/1/2022

NAP

11/23/2022

NAP

11/23/2022

NAP

Fee

NAP

255

243

6,790

718

483

NAP

Soft

Springing

Yes

NAP

George R. Jarkesy, Jr.

Refinance

NAP