FWP 1 n3594_x2permark-a1.htm ANNEX A-1

 

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-255934-05

 

 

 

 

 

  
 

BMO 2023-C5 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 website 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herein is preliminary as of the date hereof, supersedes any such information previously delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus relating to the securities.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 BMO Capital Markets Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., KeyBanc Capital Markets Inc., UBS Securities 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 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 Loan   1 Brier Creek Commons 9.8% 100.0% ZBNA ZBNA NAP NAP 8811, 8331, 8341, 8011, 8161 and 8115 Brier Creek Parkway and 10370 Lumley Road Raleigh Wake NC 27617 Retail Anchored 2001 NAP 519,277 SF 163.58 65,000,000 64,958,243 56,574,888 6.91000% 0.01876% 6.89124% 428,524.94 NAP 5,142,299.28 NAP Amortizing Balloon No Actual/360 0 0 120 119 360 359 4/20/2023 1 6 6/6/2023 6/6/2023 5/6/2033 5/6/2033 0 0 L(25),D(91),O(4) 12,113,647 3,462,674 8,650,973 2/28/2023 T-12 12,145,468 3,575,672 8,569,797 12/31/2022 T-12 11,715,014 3,235,682 8,479,332 12/31/2021 T-12 95.0% 12,422,790 3,616,139 8,806,651 77,892 298,584 8,430,175 1.31 1.25 10.4% 9.9% 136,200,000 As Is 3/22/2023 62.4% 54.3% 98.5% 4/1/2023 No BJ's Wholesale Club 108,532 20.9% 9/16/2026 Dick's Sporting Goods 45,000 8.7% 1/31/2028 Ross Dress for Less 30,064 5.8% 1/31/2028 TJ Maxx 30,000 5.8% 4/30/2032 HomeGoods 25,000 4.8% 4/30/2032 3/24/2023 NAP 3/28/2023 NAP NAP No Fee NAP NAP  NAP  NAP 752,049 83,561 0 Springing 0 6,491 0 0 28,128 1,250,000 0 0 0 0 58,333 0 Rent Concession Reserve Fund 0 NAP NAP Springing Springing Yes Yes Yes Yes 64,958,243 19,987,152 131,853.83 560,378.77 NAP NAP 84,945,395 560,378.77 62.4% 1.25 10.4% NAP NAP NAP NAP NAP NAP NAP No NAP Maria Beatrice Countess Arco AAC Consolidated Properties, LLC No No Refinance No 85,000,000 0 0 0 85,000,000 70,400,945 0 1,457,492 810,382 2,060,070 10,271,111 85,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
2 Loan   4 Central Florida Industrial Portfolio 6.4%   KeyBank KeyBank Group A NAP Various Various Various FL Various Industrial Flex Various Various 419,886 SF 100.60 42,240,000 42,240,000 42,240,000 6.21000% 0.02751% 6.18249% NAP 221,628.00 NAP 2,659,536.00 Interest Only No Actual/360 120 119 120 119 0 0 4/28/2023 1 1 6/1/2023 NAP 5/1/2033 5/1/2033 5 5 L(25),D(92),O(3)  5,729,508 1,792,389 3,937,119 12/31/2021 T-12 NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 91.5% 7,554,885 3,200,036 4,354,850 25,483 120,667 4,208,700 1.64 1.58 10.3% 10.0% 70,400,000 As Is 3/20/2023 60.0% 60.0% 93.5% Various                                                                  467,442 66,778 348,474 62,504 375,000 Springing 375,000 3,500,000 Springing 3,500,000 0 0 0 100,813 277,735 0 Unfunded Obligations ($228,190), Rent Concession Reserve ($49,545) 0 NAP NAP Hard In Place Yes No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP NexPoint Real Estate Advisors, L.P. Highland Income Fund Yes No Acquisition/Recapitalization   42,240,000 23,383,521 0 0 65,623,521 22,056,296 33,000,000 5,497,760 5,069,465 0 0 65,623,521 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
2.01 Property   1 Orlando International Business Center 3.4% 52.7%         5730-5892 South Semoran Boulevard Orlando Orange FL 32822 Industrial Flex 1983, 1985 2022 196,228 SF   22,265,000 22,265,000 22,265,000                                                     3,040,122 948,057 2,092,065 12/31/2021 T-12 NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 90.6% 3,841,085 1,533,268 2,307,818 11,909 74,168 2,221,740         36,500,000 As Is 3/20/2023     91.1% 3/15/2023 No MSE Group, LLC 13,581 6.9% 6/30/2025 Central Florida Regional Workforce Development Board 12,363 6.3% 9/30/2024 Total Renal Care, Inc 14,213 7.2% 9/30/2026 Children's Home Society of FL 10,531 5.4% 3/31/2027 Vocational Development Group 10,399 5.3% 3/31/2027 10/31/2022 NAP 10/31/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
2.02 Property   1 Corporex Plaza 1.4% 21.5%         3902 and 3904 Corporex Park Drive and 6802 Lakeview Center Drive Tampa  Hillsborough FL 33619 Industrial Flex 1984-1985 NAP 100,265 SF   9,087,000 9,087,000 9,087,000                                                     1,090,758 382,609 708,149 12/31/2021 T-12 NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 92.5% 1,704,816 769,441 935,375 6,085 18,053 911,237         15,400,000 As Is 3/20/2023     93.4% 2/27/2023 No Ademco, Inc. 14,098 14.1% 10/31/2025 Joffrey's Coffee and Tea 9,534 9.5% 5/31/2026 Inspectorate America Corp 7,214 7.2% 10/31/2026 Global Alliance Distributors 5,995 6.0% 6/30/2024 IGT Global Solutions Corp 5,520 5.5% 10/31/2024 11/28/2022 NAP 11/28/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
2.03 Property   1 Brandywine Business Center 1.0% 16.1%         3801 and 3803 Corporex Park Drive Tampa  Hillsborough FL 33619 Industrial Flex 1986 NAP 79,124 SF   6,793,000 6,793,000 6,793,000                                                     1,051,315 294,158 757,157 12/31/2021 T-12 NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 92.5% 1,262,406 574,205 688,201 4,802 19,491 663,908         12,000,000 As Is 3/20/2023     100.0% 2/27/2023 No Joffrey's Coffee and Tea Company 33,497 42.3% 5/31/2026 Acree Air Conditioning, Inc. 10,240 12.9% 1/31/2027 Pharmscript of Florida 9,710 12.3% 12/31/2026 Tri-Ed Distribution, Inc. 7,365 9.3% 9/30/2023 Guardian Haven Academy, Inc. 6,907 8.7% 2/28/2024 11/28/2022 NAP 11/28/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
2.04 Property   1 President's Plaza  0.6% 9.7%         4801 and 4803 George Road Tampa  Hillsborough FL 33634 Industrial Flex 1988 NAP 44,269 SF   4,095,000 4,095,000 4,095,000                                                     547,313 167,565 379,748 12/31/2021 T-12 NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 92.1% 746,577 323,121 423,456 2,686 8,954 411,816         6,500,000 As Is 3/20/2023     92.3% 2/27/2023 No National Flood Experts, LLC 9,168 20.7% 1/31/2027 E-Med Source (Angel's Care) 8,114 18.3% 8/31/2024 Echo UES, Inc. 6,334 14.3% 2/28/2025 Process Inc. 4,950 11.2% 12/31/2024 SunRun, Inc. 4,663 10.5% 12/31/2024 11/28/2022 NAP 11/28/2022 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 Hyatt Regency Indianapolis  6.0% 100.0% CREFI CREFI NAP NAP 1 South Capitol Avenue  Indianapolis Marion IN 46204 Hospitality Full Service 1977 2020 499 Rooms 117,267.89 40,000,000 39,943,123 34,969,110 7.08000% 0.01876% 7.06124% 268,273.56 NAP 3,219,282.72 NAP Amortizing Balloon No Actual/360 0 0 120 118 360 358 4/5/2023 2 6 5/6/2023 5/6/2023 4/6/2033 4/6/2033 0 0 L(26),D(90),O(4) 32,008,192 22,922,437 9,085,755 2/28/2023 T-12 31,512,414 22,392,612 9,119,802 12/31/2022 T-12 20,360,119 15,872,047 4,488,072 12/31/2021 T-12 63.4% 32,008,192 22,967,684 9,040,508 1,280,328 0 7,760,180 1.92 1.65 15.4% 13.3% 140,900,000 As Is 2/2/2023 41.5% 36.4% 63.4% 2/28/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/14/2023 NAP 2/14/2023 NAP NAP No Fee NAP NAP  NAP  NAP 157,268 157,268 0 Springing 0 106,694 0 0 0 0 0 0 0 72,600 127,022 27,945 Seasonality Reserve (Upfront: $127,022, Monthly: $27,945) PIP Reserve (Monthly: Springing) 0 NAP NAP Hard Springing Yes No Yes Yes 39,943,123 18,573,552 124,747.21 393,020.77 NAP NAP 58,516,675 393,020.77 41.5% 1.65 15.4% NAP NAP NAP NAP NAP NAP NAP No NAP William J. Yung III, Martha Yung, William J. Yung IV, Joseph A. Yung, Julie A. Haught, Judith A. Yung, Jennifer A. Yung, Michelle M. Christensen and Scott A. Yung CSC Holdings, LLC No No Refinance Yes 58,600,000 24,877,326 0 0 83,477,326 81,937,533 0 1,182,903 356,890 0 0 83,477,326 4/4/2038 174.52 110.66 63.4% 174.52 110.66 63.4% 174.09 108.81 62.5% 157.23 65.38 41.6%
4 Loan   3 Cincinnati Multifamily Portfolio 5.9%   BMO BMO Group C NAP Various Cincinnati Hamilton OH 45211 Multifamily Garden Various Various 375 Units 104,000.00 39,000,000 39,000,000 39,000,000 6.91000% 0.01876% 6.89124% NAP 227,694.10 NAP 2,732,329.20 Interest Only No Actual/360 120 118 120 118 0 0 4/3/2023 2 6 5/6/2023 NAP 4/6/2033 4/6/2033 0 0 L(26),D(90),O(4) 5,053,108 1,144,631 3,908,477 1/31/2023 T-12 4,238,020 1,242,704 2,995,316 12/31/2021 T-12 3,645,361 1,313,616 2,331,745 12/31/2020 T-12 97.1% 5,305,652 1,147,080 4,158,572 86,250 0 4,072,322 1.52 1.49 10.7% 10.4% 60,600,000 As Is 3/2/2023 64.4% 64.4% 97.9% 3/1/2023                                                                  42,247 8,449 114,212 10,383 337,500 Springing 337,500 0 0 0 0 0 0 94,956 100,000 0 Radon Testing Reserve 0 NAP 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 Mendel Steiner Mendel Steiner No No Recapitalization   39,000,000 17,010,000 0 0 56,010,000 16,881,343 0 943,921 688,915 20,485,820 17,010,000 56,010,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
4.01 Property   1 Ferncrest Apartments 2.1% 36.0%         3173 Ferncrest Court Cincinnati Hamilton OH 45211 Multifamily Garden 1970 NAP 144 Units   14,046,600 14,046,600 14,046,600                                                     1,866,126 422,468 1,443,659 1/31/2023 T-12 1,586,593 442,953 1,143,640 12/31/2021 T-12 1,369,766 493,421 876,345 12/31/2020 T-12 97.2% 1,935,830 422,542 1,513,288 33,120 0 1,480,168         21,800,000 As Is 3/2/2023     97.9% 3/1/2023 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 3/8/2023 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
4.02 Property   1 Candlewood Apartments 2.0% 34.6%         2400 Harrison Avenue Cincinnati Hamilton OH 45211 Multifamily Garden 1961 2018 110 Units   13,494,400 13,494,400 13,494,400                                                     1,639,690 354,275 1,285,414 1/31/2023 T-12 1,392,621 372,995 1,019,626 12/31/2021 T-12 1,163,857 403,948 759,909 12/31/2020 T-12 98.6% 1,771,932 357,122 1,414,810 25,300 0 1,389,510         21,000,000 As Is 3/2/2023     98.2% 3/1/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/27/2023 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
4.03 Property   1 Renata Apartments 1.7% 29.4%         2459 Westwood Northern Boulevard Cincinnati Hamilton OH 45211 Multifamily Garden 1966 NAP 121 Units   11,459,000 11,459,000 11,459,000                                                     1,547,292 367,888 1,179,404 1/31/2023 T-12 1,258,806 426,756 832,050 12/31/2021 T-12 1,111,738 416,247 695,491 12/31/2020 T-12 96.3% 1,597,890 367,416 1,230,474 27,830 0 1,202,644         17,800,000 As Is 3/2/2023     97.5% 3/1/2023 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
5 Loan   1 Great Lakes Crossing Outlets 5.7% 100.0% BMO, DBRI, GSBI BMO, GACC NAP NAP 4000 Baldwin Road Auburn Hills Oakland MI 48326 Retail Outlet Center 1998 2010 1,128,332 SF 159.53 37,500,000 37,500,000 37,500,000 6.52100% 0.01876% 6.50224% NAP 206,611.55 NAP 2,479,338.60 Interest Only No Actual/360 120 116 120 116 0 0 1/5/2023 4 1 3/1/2023 NAP 2/1/2033 2/1/2033 0 0 L(28),D(86),O(6) 46,424,127 14,768,491 31,655,635 11/30/2022 T-12 47,261,766 14,350,428 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% 45.0% 89.6% 11/30/2022 No 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% MTM 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 NAP No Fee NAP NAP  NAP  NAP 0 Springing 0 Springing 0 Springing 519,033 0 94,028 2,256,664 0 0 0 0 1,805,623 0 Outstanding TI/LC Reserve ($1,581,204.38), Gap Rent Reserve ($224,418.36) 0 NAP NAP Hard Springing Yes No Yes No 37,500,000 142,500,000 785,123.87 991,735.42 NAP NAP 180,000,000 991,735.42 45.0% 2.50 17.5% NAP NAP NAP NAP NAP NAP NAP No NAP The Taubman Realty Group LLC The Taubman Realty Group LLC No No Refinance No 180,000,000 962,977 0 0 180,962,977 177,589,210 0 1,568,144 1,805,623 0 0 180,962,977 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6 Loan   42 Oak Street NLP Fund Portfolio 4.5%   WFBNA, KeyBank KeyBank NAP NAP Various Various Various Various Various Various Various Various Various 6,470,388 SF 52.55 30,000,000 30,000,000 30,000,000 6.13800% 0.02876% 6.10924% NAP 155,581.25 NAP 1,866,975.00 Interest Only No Actual/360 60 57 60 57 0 0 2/23/2023 3 11 4/11/2023 NAP 3/11/2028 3/11/2028 0 0 L(27),D(26),O(7)  55,257,111 0 55,257,111 12/31/2022 T-12 NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 82,796,630 21,989,943 60,806,687 1,413,262 2,134,710 57,258,714 2.87 2.71 17.9% 16.8% 1,051,080,000 As Is Various 32.3% 32.3% 100.0% 2/23/2023                                                                  0 Springing 0 Springing 0 0 0 0 0 0 0 0 0 27,550 0 Springing  Save Mart LOC Reserve 0 NAP NAP Hard In Place Yes No Yes No 30,000,000 310,000,000 1,607,672.92 1,763,254.17 85,000,000 6.13800% 425,000,000 2,204,067.71 40.4% 2.16 14.3% NAP NAP NAP NAP NAP NAP NAP No NAP Blue Owl Capital, Inc. and Oak Street Real Estate Capital, LLC Oak Street Real Estate Capital Net Lease Property Fund, LP, Oak Street Real Estate Capital Net Lease Property Fund (A), LP and Oak Street Real Estate Capital Net Lease Property Fund (P), LP No No Recapitalization   340,000,000 0 85,000,000 0 425,000,000 0 0 11,288,500 27,550 413,683,950 0 425,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.01 Property   1 Big Lots - Tremont, PA 0.7% 16.1%         50 Rausch Creek Road Tremont Schuylkill PA 17981 Industrial Warehouse / Distribution 2000 NAP 1,294,548 SF   4,836,000 4,836,000 4,836,000                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 13,354,110 4,834,166 8,519,944 127,411 304,901 8,087,632         169,430,000 As Is 12/28/2022     100.0% 2/23/2023 Yes Big Lots, Inc. 1,294,548 100.0% 6/30/2040 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.02 Property   1 Big Lots - Durant, OK 0.6% 13.1%         2306 Enterprise Drive Durant Bryan OK 74701 Industrial Warehouse / Distribution 2003 NAP 1,296,562 SF   3,937,412 3,937,412 3,937,412                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 11,202,938 2,487,690 8,715,248 187,470 305,373 8,222,405         138,000,000 As Is 12/27/2022     100.0% 2/23/2023 Yes Big Lots, Inc. 1,296,562 100.0% 6/30/2040 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.03 Property   1 Badcock - LaGrange, GA 0.3% 5.7%         505 Pegasus Parkway LaGrange Troup GA 30240 Industrial Warehouse / Distribution 2015 NAP 537,855 SF   1,719,529 1,719,529 1,719,529                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 4,942,062 1,217,397 3,724,665 939 131,531 3,592,195         60,250,000 As Is 1/3/2023     100.0% 2/23/2023 Yes W.S. Badcock Corporation 537,855 100.0% 6/30/2039 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.04 Property   1 Badcock - Mebane, NC 0.2% 4.2%         1017 Corporate Park Drive Mebane Alamance NC 27302 Industrial Warehouse / Distribution 2004 2019 369,420 SF   1,269,882 1,269,882 1,269,882                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 3,426,881 692,296 2,734,585 96,520 92,355 2,545,710         44,500,000 As Is 12/22/2022     100.0% 2/23/2023 Yes W.S. Badcock Corporation 369,420 100.0% 6/30/2039 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.05 Property   1 Badcock - Mulberry, FL 0.2% 4.1%         201 Kid Ellis Road Mulberry Polk FL 33860 Industrial Warehouse / Distribution 1991 2002 371,240 SF   1,237,412 1,237,412 1,237,412                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 4,248,542 1,346,535 2,902,007 9,357 99,771 2,792,879         43,360,000 As Is 12/27/2022     100.0% 2/23/2023 Yes W.S. Badcock Corporation 371,240 100.0% 6/30/2039 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.06 Property   1 NAICO - Chandler, OK 0.2% 3.9%         1003 Allison Avenue, 1010 Manvel Avenue, 915 Allison Avenue and 1023 Allison Avenue Chandler Lincoln OK 74834 Office Suburban 1920 2022 158,430 SF   1,176,000 1,176,000 1,176,000                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 2,831,547 349,923 2,481,624 25,377 83,863 2,372,385         41,200,000 As Is 12/21/2022     100.0% 2/23/2023 Yes Chandler Insurance Company, LTD. 158,430 100.0% 8/31/2039 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.07 Property   1 Save Mart Supermarkets - San Pablo, CA 0.1% 3.3%         13220-13222 San Pablo Avenue San Pablo Contra Costa CA 94806 Retail Single Tenant 1973 NAP 109,876 SF   993,176 993,176 993,176                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 3,025,432 997,395 2,028,038 47,693 72,336 1,908,009         34,800,000 As Is 12/28/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 109,876 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 19% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.08 Property   1 Nation Safe Driver - Boca Raton, FL 0.1% 3.2%         5600 Broken Sound Boulevard Boca Raton Palm Beach FL 33487 Office Suburban 1981 2022 139,785 SF   960,706 960,706 960,706                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 3,031,951 847,136 2,184,815 72,143 76,384 2,036,287         33,660,000 As Is 12/21/2022     100.0% 2/23/2023 Yes Nation Motor Club, LLC 139,785 100.0% 12/31/2041 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 NAP NAP Yes - AH Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.09 Property   1 Save Mart Supermarkets - Fresno, CA (4) 0.1% 3.0%         5645-5677 East Kings Canyon Road Fresno Fresno CA 93727 Retail Single Tenant 1981 2007, 2008 186,652 SF   907,765 907,765 907,765                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 2,524,788 582,437 1,942,351 141,198 70,943 1,730,211         31,800,000 As Is 12/12/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 186,652 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/5/2023 1/5/2023 7% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.10 Property   1 Save Mart Supermarkets - El Cerrito, CA 0.1% 2.5%         1000 El Cerrito Plaza El Cerrito Contra Costa CA 94530 Retail Single Tenant 2001 NAP 66,778 SF   754,588 754,588 754,588                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,934,376 467,938 1,466,438 9,886 46,670 1,409,882         26,430,000 As Is 12/22/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 66,778 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 14% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.11 Property   1 Save Mart Supermarkets - Stockton, CA 0.1% 2.4%         4555 North Pershing Avenue Stockton San Joaquin CA 95207 Retail Single Tenant 1978 2001 119,916 SF   715,765 715,765 715,765                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,997,882 494,548 1,503,334 18,521 54,115 1,430,697         25,080,000 As Is 12/26/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 119,916 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/5/2023 NAP 1/6/2023 1/3/2023 9% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.12 Property   1 Save Mart Supermarkets - Modesto, CA (4) 0.1% 2.2%         801 Oakdale Road Modesto Stanislaus CA 95355 Retail Single Tenant 2001 NAP 54,605 SF   655,059 655,059 655,059                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,517,037 202,957 1,314,080 53,743 39,783 1,220,554         22,960,000 As Is 12/23/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 54,605 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 8% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.13 Property   1 Save Mart Supermarkets - Grass Valley, CA 0.1% 2.1%         2054 Nevada City Highway Grass Valley Nevada CA 95945 Retail Single Tenant 1990 NAP 43,737 SF   636,000 636,000 636,000                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,313,765 187,850 1,125,916 6,871 34,683 1,084,361         22,290,000 As Is 12/18/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 43,737 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 5% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.14 Property   1 Save Mart Supermarkets - Fresno, CA (5) 0.1% 2.1%         4010, 4040, 4120, 4190 North West Avenue Fresno Fresno CA 93705 Retail Single Tenant 1978 1996, 2004, 2015 148,270 SF   631,059 631,059 631,059                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,716,609 508,675 1,207,934 7,300 50,288 1,150,346         22,100,000 As Is 12/22/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 148,270 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/6/2023 1/3/2023 5% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.15 Property   1 Save Mart Supermarkets - Ceres, CA 0.1% 1.9%         2920 East Whitmore Avenue Ceres Stanislaus CA 95307 Retail Single Tenant 1980 2004 116,789 SF   583,765 583,765 583,765                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,501,265 399,550 1,101,714 19,236 43,164 1,039,314         20,450,000 As Is 12/26/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 116,789 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/6/2023 NAP 1/6/2023 1/5/2023 6% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.16 Property   1 Save Mart Supermarkets - Bakersfield, CA 0.1% 1.9%         6465 Niles Street Bakersfield Kern CA 93306 Retail Single Tenant 1979 NAP 68,337 SF   571,059 571,059 571,059                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,344,897 243,969 1,100,928 4,214 37,262 1,059,451         20,010,000 As Is 12/20/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 68,337 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 9% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.17 Property   1 Big Y - Milford, CT 0.1% 1.9%         150 Boston Post Road Milford New Haven CT 06460 Retail Single Tenant 2019 NAP 55,000 SF   565,412 565,412 565,412                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,304,431 384,256 920,175 3,571 31,625 884,979         19,800,000 As Is 12/28/2022     100.0% 2/23/2023 Yes Big Y Foods, Inc. 55,000 100.0% 12/31/2039 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/6/2023 NAP 1/5/2023 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.18 Property   1 Save Mart Supermarkets - Sparks, NV (2) 0.1% 1.7%         9750 Pyramid Lakes Highway Sparks Washoe NV 89441 Retail Single Tenant 1999 2018 52,368 SF   508,941 508,941 508,941                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,123,695 159,633 964,063 28,043 31,029 904,991         17,830,000 As Is 12/27/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 52,368 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/4/2023 11% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.19 Property   1 Save Mart Supermarkets - Tracy, CA 0.1% 1.7%         875 South Tracy Boulevard Tracy San Joaquin CA 95376 Retail Single Tenant 1997 NAP 61,660 SF   499,765 499,765 499,765                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,206,267 280,595 925,672 12,343 31,740 881,590         17,500,000 As Is 12/26/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 61,660 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 8% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.20 Property   1 Save Mart Supermarkets - Folsom, CA 0.1% 1.6%         1003 East Bidwell Folsom Sacramento CA 95630 Retail Single Tenant 1990 NAP 49,769 SF   488,471 488,471 488,471                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,104,967 247,625 857,343 2,321 28,683 826,338         17,110,000 As Is 12/23/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 49,769 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/4/2023 7% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.21 Property   1 Save Mart Supermarkets - Tracy, CA (2) 0.1% 1.6%         2005 North Tracy Boulevard Tracy San Joaquin CA 95376 Retail Single Tenant 1966 NAP 149,631 SF   478,588 478,588 478,588                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 2,866,242 1,205,655 1,660,587 69,558 61,588 1,529,441         16,780,000 As Is 12/26/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 149,631 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/27/2023 NAP 1/25/2023 1/25/2023 15% No Leasehold 12/31/2064 2, 10-year extension options                615,850 No                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.22 Property   1 Save Mart Supermarkets - Napa, CA 0.1% 1.5%         1346 Trancas Street Napa Napa CA 94558 Retail Single Tenant 1969 1989 51,845 SF   435,529 435,529 435,529                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,268,097 387,038 881,058 27,136 30,282 823,641         15,250,000 As Is 12/26/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 51,845 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 28% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.23 Property   1 Badcock - Mulberry, FL (4) 0.1% 1.3%         205 Northwest 2nd Street and 308 1st Avenue Northwest Mulberry Polk FL 33860 Industrial Warehouse / Distribution 1964 1992 184,000 SF   402,353 402,353 402,353                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 1,410,198 386,783 1,023,415 53,643 37,124 932,648         14,100,000 As Is 12/27/2022     100.0% 2/23/2023 Yes W.S. Badcock Corporation 184,000 100.0% 8/31/2039 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.24 Property   1 Save Mart Supermarkets - Chico, CA 0.1% 1.3%         146 West East Avenue Chico Butte CA 95926 Retail Single Tenant 1989 2001 42,294 SF   377,647 377,647 377,647                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 882,806 199,684 683,122 23,886 22,647 636,589         13,230,000 As Is 12/27/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 42,294 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 8% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.25 Property   1 Save Mart Supermarkets - Salinas, CA 0.1% 1.3%         1223 North Davis Road Salinas Monterey CA 93907 Retail Single Tenant 1998 2012 62,565 SF   376,235 376,235 376,235                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 956,143 238,370 717,772 32,500 25,926 659,346         13,170,000 As Is 12/22/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 62,565 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/5/2023 1/5/2023 14% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.26 Property   1 Save Mart Supermarkets - Kingsburg, CA 0.1% 1.2%         909 Sierra Street Kingsburg Fresno CA 93631 Retail Single Tenant 1999 NAP 41,368 SF   371,294 371,294 371,294                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 844,348 169,971 674,377 25,943 22,216 626,218         13,000,000 As Is 12/20/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 41,368 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/4/2023 7% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.27 Property   1 Save Mart Supermarkets - Clovis, CA (3) 0.1% 1.2%         1157 North Willow Avenue Clovis Fresno CA 93611 Retail Single Tenant 2002 NAP 50,918 SF   368,471 368,471 368,471                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 864,984 186,462 678,523 5,686 24,041 648,796         12,900,000 As Is 12/19/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 50,918 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 5% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.28 Property   1 Save Mart Supermarkets - Clovis, CA (2) 0.1% 1.1%         2179 Shaw Avenue Clovis Fresno CA 93611 Retail Single Tenant 1984 2002 52,576 SF   342,353 342,353 342,353                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 850,673 217,060 633,613 9,643 23,030 600,941         11,990,000 As Is 12/19/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 52,576 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/2/2023 5% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.29 Property   1 Save Mart Supermarkets - Vacaville, CA (2) 0.1% 1.1%         777 East Monte Vista Avenue Vacaville Solano CA 95688 Retail Single Tenant 1988 NAP 42,630 SF   338,118 338,118 338,118                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 804,917 190,091 614,826 26,357 20,850 567,619         11,840,000 As Is 12/22/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 42,630 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 12% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.30 Property   1 Save Mart Supermarkets - Elk Grove, CA 0.1% 1.1%         9160 Elk Grove Florin Road Elk Grove Sacramento CA 95624 Retail Single Tenant 1994 NAP 45,642 SF   333,882 333,882 333,882                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 792,595 185,557 607,039 25,686 21,037 560,316         11,700,000 As Is 12/22/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 45,642 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 7% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.31 Property   1 Save Mart Supermarkets - Manteca, CA 0.0% 1.0%         1172 North Main Street Manteca San Joaquin CA 95336 Retail Single Tenant 1984 NAP 35,312 SF   309,176 309,176 309,176                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 790,530 141,588 648,942 31,821 20,617 596,504         10,820,000 As Is 12/26/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 35,312 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 7% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.32 Property   1 Save Mart Supermarkets - Fresno, CA (3) 0.0% 1.0%         5750 North 1st Street Fresno Fresno CA 93710 Retail Single Tenant 1994 NAP 58,360 SF   292,941 292,941 292,941                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 764,642 193,732 570,911 39,300 21,375 510,235         10,260,000 As Is 12/22/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 58,360 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/6/2023 1/4/2023 7% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.33 Property   1 Save Mart Supermarkets - Lodi, CA 0.0% 1.0%         530 West Lodi Avenue Lodi San Joaquin CA 95240 Retail Single Tenant 1996 NAP 50,342 SF   289,412 289,412 289,412                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 715,202 176,982 538,221 35,443 19,596 483,182         10,150,000 As Is 12/22/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 50,342 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/4/2023 8% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.34 Property   1 Save Mart Supermarkets - Sparks, NV 0.0% 0.9%         565 East Prater Way Sparks Washoe NV 89431 Retail Single Tenant 1993 NAP 47,404 SF   273,882 273,882 273,882                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 644,714 141,577 503,137 25,957 18,508 458,673         9,600,000 As Is 12/23/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 47,404 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 10% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.35 Property   1 Save Mart Supermarkets - Carson City, NV 0.0% 0.9%         3325 US Highway 50 Carson City Carson City NV 89701 Retail Single Tenant 1995 NAP 52,079 SF   258,353 258,353 258,353                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 623,852 148,383 475,469 26,063 18,385 431,021         9,060,000 As Is 12/27/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 52,079 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 13% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.36 Property   1 Save Mart Supermarkets - Oakland, CA 0.0% 0.8%         4055 MacArthur Boulevard Oakland Alameda CA 94619 Retail Single Tenant 1965 NAP 21,258 SF   239,294 239,294 239,294                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 663,770 252,158 411,612 12,771 14,176 384,665         8,380,000 As Is 12/22/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 21,258 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 27% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.37 Property   1 Save Mart Supermarkets - Coalinga, CA 0.0% 0.8%         275 East Forest Avenue Coalinga Fresno CA 93210 Retail Single Tenant 2006 NAP 49,749 SF   231,529 231,529 231,529                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 650,625 187,721 462,904 25,211 17,839 419,853         8,100,000 As Is 12/20/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 49,749 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 10% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.38 Property   1 Save Mart Supermarkets - Marysville, CA 0.0% 0.8%         828 J Street Marysville Yuba CA 95901 Retail Single Tenant 1973 NAP 30,080 SF   228,706 228,706 228,706                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 542,926 128,621 414,305 15,797 14,269 384,239         8,010,000 As Is 12/27/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 30,080 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 10% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.39 Property   1 Save Mart Supermarkets - Jackson, CA 0.0% 0.7%         11980 State Highway 88 Jackson Amador CA 95642 Retail Single Tenant 1994 NAP 40,593 SF   210,353 210,353 210,353                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 546,261 141,071 405,190 22,957 15,193 367,040         7,370,000 As Is 12/24/2022     100.0% 2/23/2023 Yes Save Mart Supermarkets 40,593 100.0% 11/30/2044 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 1/3/2023 6% No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.40 Property   1 Badcock - Mulberry, FL (3) 0.0% 0.5%         200 Phosphate Boulevard North Mulberry Polk FL 33860 Office Suburban 1915 1986 42,750 SF   146,118 146,118 146,118                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 497,601 129,587 368,014 2,271 14,963 350,780         5,130,000 As Is 12/27/2022     100.0% 2/23/2023 Yes W.S. Badcock Corporation 42,750 100.0% 8/31/2039 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.41 Property   1 Badcock - Mulberry, FL (2) 0.0% 0.1%         168 Phosphate Boulevard North Mulberry Polk FL 33860 Office Suburban 1912 1954 8,270 SF   30,353 30,353 30,353                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 103,069 31,993 71,076 771 2,895 67,410         1,060,000 As Is 12/27/2022     100.0% 2/23/2023 Yes W.S. Badcock Corporation 8,270 100.0% 8/31/2039 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
6.42 Property   1 Badcock - Mulberry, FL (5) 0.0% 0.1%         503 Phosphate Boulevard North Mulberry Polk FL 33860 Industrial Warehouse / Distribution 1978 NAP 9,125 SF   17,647 17,647 17,647                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 58,987 17,288 41,699 704 1,654 39,342         620,000 As Is 12/27/2022     100.0% 2/23/2023 Yes W.S. Badcock Corporation 9,125 100.0% 8/31/2039 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/4/2023 NAP 1/3/2023 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
7 Loan   1 Harborside 2-3 4.5% 100.0% CREFI, BMO CREFI, BMO NAP NAP 200-210 Hudson Street Jersey City Hudson NJ 07311 Office CBD 1930 2021 1,599,029 SF 140.71 30,000,000 30,000,000 30,000,000 5.84000% 0.01876% 5.82124% NAP 148,027.78 NAP 1,776,333.36 Interest Only No Actual/360 60 58 60 58 0 0 4/4/2023 2 6 5/6/2023 NAP 4/6/2028 4/6/2028 0 0 L(26),D(27),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 NAP NAP Hard Springing Yes No Yes No 30,000,000 195,000,000 962,180.55 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 Future Mezzanine Loan 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
8 Loan   1 Cross Island Plaza 4.5% 100.0% BMO BMO Group B NAP 13333 Brookville Boulevard Rosedale Queens NY 11422 Office CBD 1982 2021 256,930 SF 165.41 30,000,000 30,000,000 30,000,000 6.60500% 0.01876% 6.58624% NAP 167,418.40 NAP 2,009,020.80 Interest Only No Actual/360 120 119 120 119 0 0 5/2/2023 1 6 6/6/2023 NAP 5/6/2033 5/6/2033 0 0 L(25),D(91),O(4) 6,968,773 3,428,484 3,540,289 12/31/2022 T-12 NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 89.1% 8,112,684 3,515,080 4,597,605 38,540 192,698 4,366,368 1.62 1.53 10.8% 10.3% 75,900,000 As Is 2/20/2023 56.0% 56.0% 90.7% 3/20/2023 No OEC Freight 28,110 10.9% 5/31/2025 Schenker Inc. 16,585 6.5% 3/31/2027 Gregory Spektor 13,989 5.4% 11/30/2032 Kocher & Associates 11,037 4.3% 12/31/2029 DAMCO USA 8,274 3.2% 1/31/2026 2/24/2023 NAP 2/24/2023 NAP NAP No Fee NAP NAP  NAP  NAP 657,606 109,601 22,894 7,631 0 3,212 0 2,700,000 Springing 500,000 0 0 0 457,600 0 0   0 NAP NAP Hard Springing Yes Yes Yes Yes 30,000,000 12,500,000 69,757.67 237,176.07 NAP NAP 42,500,000 237,176.07 56.0% 1.53 10.8% NAP NAP NAP NAP NAP NAP NAP No NAP Chaim Simkowitz and Abraham J. Hoffman Chaim Simkowitz and Abraham J. Hoffman No No Refinance No 42,500,000 0 0 0 42,500,000 28,547,718 0 1,254,006 3,838,100 8,860,177 0 42,500,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
9 Loan   1 500 Mamaroneck 4.5% 100.0% BMO BMO Group B NAP 500 Mamaroneck Avenue Harrison Westchester NY 10528 Other Leased Fee NAP NAP 1,502,820 SF 19.63 29,500,000 29,500,000 29,500,000 6.83000% 0.01876% 6.81124% NAP 170,236.17 NAP 2,042,834.04 Interest Only No Actual/360 120 118 120 118 0 0 4/5/2023 2 6 5/6/2023 NAP 4/6/2033 4/6/2033 0 0 L(26),D(90),O(4) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 100.0% 2,522,053 0 2,522,053 0 0 2,522,053 1.23 1.23 8.5% 8.5% 45,300,000 As Is 2/24/2023 65.1% 65.1% NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/24/2023 NAP 2/24/2023 NAP NAP No Fee NAP NAP  NAP  NAP 0 Springing 0 Springing 0 Springing 0 0 Springing 0 0 0 0 0 0 0   0 NAP 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 Abraham Hoffman Abraham Hoffman No No Acquisition No 29,500,000 11,634,728 0 0 41,134,728 0 40,000,000 1,134,728 0 0 0 41,134,728 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
10 Loan   1 Sayville Plaza 4.2% 100.0% CREFI CREFI NAP NAP 5151 Sunrise Highway Bohemia Suffolk NY 11716 Retail Anchored 1969 2021 237,093 SF 118.10 28,000,000 28,000,000 28,000,000 7.65000% 0.01876% 7.63124% NAP 180,979.17 NAP 2,171,750.04 Interest Only No Actual/360 60 60 60 60 0 0 5/15/2023 0 6 7/6/2023 NAP 6/6/2028 6/6/2028 0 0 L(2),YM1(51),O(7) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 4,738,005 1,915,173 2,822,832 34,465 160,837 2,627,530 1.30 1.21 10.9% 10.1% 49,400,000 As Is 3/13/2023 52.6% 52.6% 96.6% 5/12/2023 No At Home 88,728 37.4% 6/30/2032 Floor & Décor 79,607 33.6% 9/30/2036 Jo-Ann Fabrics 31,484 13.3% 1/31/2034 Aldi 21,948 9.3% 8/31/2037 Chick-Fil-A (Ground Lease) 5,226 2.2% 5/31/2043 3/15/2023 NAP 3/15/2023 NAP NAP No Fee NAP NAP  NAP  NAP 108,377 108,377 158,031 15,803 0 2,872 0 828,029 13,403 0 0 0 0 0 3,143,565 0 Pad Holdback Reserve (Upfront: $2,000,000); Landlord Work Reserve (Upfront: $1,143,565) 0 2,000,000 $2,000,000 deposited into the Pad Holdback Reserve to be distributed to the borrower upon certain conditions in the loan agreement 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 Transform Midco LLC Transform Midco LLC No No Refinance No 28,000,000 2,355,228 0 0 30,355,228 24,054,055 0 2,063,171 4,238,003 0 0 30,355,228 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11 Loan   99 Jaylor - Burger King Portfolio 4.2%   CREFI CREFI NAP NAP Various Various Various Various Various Retail Single Tenant Various Various 304,641 SF 173.46 28,000,000 27,916,343 12,999,038 6.91000% 0.01876% 6.89124% 250,265.15 NAP 3,003,181.80 NAP Amortizing Balloon No Actual/360 0 0 120 119 180 179 5/2/2023 1 6 6/6/2023 6/6/2023 5/6/2033 5/6/2033 0 0 L(25),YM1(88),O(7) 11,724,095 1,089,736 10,634,359 2/28/2023 T-12 11,691,244 1,086,561 10,604,683 12/31/2022 T-12 11,382,597 1,068,229 10,314,368 12/31/2021 T-12 97.0% 11,556,639 1,089,557 10,467,083 0 305,004 10,162,079 1.84 1.79 19.8% 19.2% 172,275,000 As Is Various 30.7% 14.3% 100.0% 5/2/2023                                                                  0 Springing 0 Springing 0 Springing 0 0 0 0 0 0 0 0 200,000 Springing Ground Rent Reserve (Upfront: $100,000, Monthly: Springing); Insurance Deductible Reserve (Upfront: $100,000) 0 NAP NAP Hard Springing Yes Yes Yes Yes 27,916,343 24,925,306 223,451.03 473,716.18 NAP NAP 52,841,649 473,716.18 30.7% 1.79 19.8% NAP NAP NAP NAP NAP NAP NAP No NAP Matthew Schoenberg Matthew Schoenberg No No Refinance   53,000,000 0 0 0 53,000,000 46,601,062 0 5,540,232 200,000 658,706 0 53,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.01 Property   1 Burger King #04324 - Gulf Shores, AL 0.1% 1.9%         1501 Gulf Shores Parkway Gulf Shores Baldwin AL 36542 Retail Single Tenant 1984 2017 3,735 SF   520,099 518,545 241,457                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         3,200,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,735 100.0% 6/5/2034 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
11.02 Property   1 Burger King #04581 - Foley, AL 0.1% 1.8%         910 South McKenzie Street Foley Baldwin AL 36535 Retail Single Tenant 1985 2018 3,842 SF   511,972 510,442 237,684                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         3,150,000 As Is 3/16/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,842 100.0% 6/5/2034 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                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.03 Property   1 Burger King #02957 - Houma, LA 0.1% 1.8%         1033 West Tunnel Boulevard Houma Terrebonne LA 70360 Retail Single Tenant 1980 NAP 3,048 SF   507,909 506,391 235,797                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         3,125,000 As Is 3/18/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,048 100.0% 6/5/2034 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 - AH Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.04 Property   1 Burger King #11942 - Gray, LA 0.1% 1.8%         3863 West Park Avenue Gray Terrebonne LA 70359 Retail Single Tenant 1998 NAP 3,003 SF   491,656 490,187 228,252                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         3,025,000 As Is 3/18/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,003 100.0% 6/5/2034 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
11.05 Property   1 Burger King #03818 - Mobile, AL 0.1% 1.7%         7775 Moffett Road Mobile Mobile AL 36618 Retail Single Tenant 1983 2018 3,398 SF   471,339 469,931 218,820                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,900,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,398 100.0% 6/5/2034 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
11.06 Property   1 Burger King #05255 - Prichard, AL 0.1% 1.6%         2924 Saint Stephens Road Prichard Mobile AL 36612 Retail Single Tenant 1986 2017 3,489 SF   451,023 449,675 209,388                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,775,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,489 100.0% 6/5/2034 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
11.07 Property   1 Burger King #12830 - Boutte, LA 0.1% 1.6%         14157 U.S. Highway 90 Boutte Saint Charles LA 70039 Retail Single Tenant 1999 2018 3,068 SF   446,960 445,624 207,502                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,750,000 As Is 3/15/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,068 100.0% 6/5/2034 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
11.08 Property   1 Burger King #03156 - Saraland, AL 0.1% 1.6%         310 Highway 43 North Saraland Mobile AL 36571 Retail Single Tenant 1981 2018 3,244 SF   434,770 433,471 201,842                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,675,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,244 100.0% 6/5/2034 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
11.09 Property   1 Burger King #11614 - Harvey, LA 0.1% 1.5%         1840 Lapalco Boulevard Harvey Jefferson LA 70058 Retail Single Tenant 1998 2018 2,987 SF   422,580 421,318 196,183                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,600,000 As Is 3/15/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,987 100.0% 6/5/2034 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
11.11 Property   1 Burger King #04130 - Vicksburg, MS 0.1% 1.5%         3121 Halls Ferry Road Vicksburg Warren MS 39180 Retail Single Tenant 2005 2020 2,756 SF   418,517 417,267 194,297                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,575,000 As Is 3/10/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,756 100.0% 6/5/2034 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 / Leasehold 8/14/2033 None 0 No                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.10 Property   1 Burger King #09004 - Diamondhead, MS 0.1% 1.5%         5400 West Aloha Drive Diamondhead Hancock MS 39525 Retail Single Tenant 1995 2018 2,920 SF   418,517 417,267 194,297                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,575,000 As Is 3/21/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,920 100.0% 6/5/2034 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
11.12 Property   1 Burger King #09708 - Natchez, MS 0.1% 1.5%         421 Highway 61 North Natchez Adams MS 39120 Retail Single Tenant 1996 2015 2,892 SF   410,390 409,164 190,524                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,525,000 As Is 3/10/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,892 100.0% 6/5/2034 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
11.13 Property   1 Burger King #09270 - Robertsdale, AL 0.1% 1.5%         21890 State Highway 59 South Robertsdale Baldwin AL 36567 Retail Single Tenant 1995 2016 2,545 SF   406,327 405,113 188,638                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,500,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,545 100.0% 6/5/2034 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/24/2023 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
11.14 Property   1 Burger King #02643 - Gladstone, MO 0.1% 1.4%         6001 Northeast Antioch Road Gladstone Clay MO 64119 Retail Single Tenant 1979 NAP 3,923 SF   390,074 388,908 181,092                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,400,000 As Is 3/21/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,923 100.0% 6/5/2034 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
11.15 Property   1 Burger King #01207 - West Monroe, LA 0.1% 1.4%         100 Thomas Road West Monroe Ouachita LA 71291 Retail Single Tenant 1973 NAP 2,992 SF   381,947 380,806 177,320                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,350,000 As Is 3/18/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,992 100.0% 6/5/2034 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
11.16 Property   1 Burger King #12007 - Denham Springs, LA 0.1% 1.3%         31706 Louisiana Highway 16 Denham Springs Livingston LA 70726 Retail Single Tenant 1998 2017 2,969 SF   377,884 376,755 175,433                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,325,000 As Is 3/19/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,969 100.0% 6/5/2034 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 Leasehold 5/31/2028 8, 5-year extension options                  44,800 No                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.19 Property   1 Burger King #06129 - Mobile, AL 0.1% 1.3%         3200 Spring Hill Avenue Mobile Mobile AL 36607 Retail Single Tenant 1988 2018 2,694 SF   373,821 372,704 173,547                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,300,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,694 100.0% 6/5/2034 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
11.18 Property   1 Burger King #06788 - Zachary, LA 0.1% 1.3%         5131 Main Street Zachary East Baton Rouge LA 70791 Retail Single Tenant 1990 2015 2,885 SF   373,821 372,704 173,547                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,300,000 As Is 3/19/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,885 100.0% 6/5/2034 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/28/2023 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
11.17 Property   1 Burger King #10802 - Westwego, LA 0.1% 1.3%         500 Westbank Expressway Westwego Jefferson LA 70094 Retail Single Tenant 1997 2018 2,982 SF   373,821 372,704 173,547                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,300,000 As Is 3/15/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,982 100.0% 6/5/2034 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
11.20 Property   1 Burger King #09788 - Walker, LA 0.1% 1.3%         27931 Walker Road South Walker Livingston LA 70785 Retail Single Tenant 1996 2015 2,987 SF   369,757 368,653 171,660                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,275,000 As Is 3/19/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,987 100.0% 6/5/2034 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/28/2023 NAP 3/29/2023 NAP NAP Yes - AE Fee NAP NAP  NAP  NAP                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.21 Property   1 Burger King #09838 - Fairhope, AL 0.1% 1.3%         19755 Greeno Road Fairhope Baldwin AL 36532 Retail Single Tenant 1996 2020 2,935 SF   365,694 364,602 169,774                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,250,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,935 100.0% 6/5/2034 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
11.22 Property   1 Burger King #01198 - Mobile, AL 0.1% 1.3%         3875 Airport Boulevard Mobile Mobile AL 36608 Retail Single Tenant 1973 2018 3,807 SF   357,568 356,500 166,001                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,200,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,807 100.0% 6/5/2034 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
11.23 Property   1 Burger King #10764 - Morgan City, LA 0.1% 1.3%         937 Highway 90 East Morgan City Saint Mary LA 70380 Retail Single Tenant 1997 NAP 2,990 SF   357,568 356,500 166,001                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,200,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,990 100.0% 6/5/2034 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
11.24 Property   1 Burger King #01465 - Laurel, MS 0.1% 1.3%         319 Leontyne Price Boulevard Laurel Jones MS 39440 Retail Single Tenant 1974 2017 2,966 SF   353,505 352,449 164,115                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,175,000 As Is 3/21/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,966 100.0% 6/5/2034 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                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.25 Property   1 Burger King #07930 - Long Beach, MS 0.1% 1.3%         310 East Beach Boulevard Long Beach Harrison MS 39560 Retail Single Tenant 2007 2018 2,918 SF   353,505 352,449 164,115                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,175,000 As Is 3/21/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,918 100.0% 6/5/2034 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 - VE Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.26 Property   1 Burger King #05029 - Pineville, LA 0.1% 1.2%         3301 Monroe Highway Pineville Rapides LA 71360 Retail Single Tenant 1986 NAP 3,489 SF   349,441 348,397 162,228                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,150,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,489 100.0% 6/5/2034 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                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.27 Property   1 Burger King #12633 - Port Allen, LA 0.1% 1.2%         4383 Louisiana 1 South Port Allen West Baton Rouge LA 70767 Retail Single Tenant 1999 2018 3,063 SF   349,441 348,397 162,228                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,150,000 As Is 3/18/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,063 100.0% 6/5/2034 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
11.29 Property   1 Burger King #01437 - Monroe, LA 0.1% 1.2%         1710 Martin Luther King Drive Monroe Ouachita LA 71202 Retail Single Tenant 1974 NAP 2,944 SF   345,378 344,346 160,342                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,125,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,944 100.0% 6/5/2034 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/31/2023 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
11.28 Property   1 Burger King #01439 - Slidell, LA 0.1% 1.2%         185 Gause Boulevard Slidell Saint Tammany LA 70458 Retail Single Tenant 1974 2018 3,423 SF   345,378 344,346 160,342                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,125,000 As Is 3/19/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,423 100.0% 6/5/2034 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
11.30 Property   1 Burger King #07467 - Ruston, LA 0.1% 1.2%         1401 North Trenton Street Ruston Lincoln LA 71270 Retail Single Tenant 1992 NAP 2,915 SF   345,378 344,346 160,342                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,125,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,915 100.0% 6/5/2034 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 / Leasehold 6/5/2029 4, 5-year extension options                    7,390 Yes                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.31 Property   1 Burger King #12895 - Delhi, LA 0.1% 1.2%         1007 Broadway Street Delhi Richland LA 71232 Retail Single Tenant 1999 NAP 3,073 SF   345,377 344,345 160,342                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,125,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,073 100.0% 6/5/2034 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
11.32 Property   1 Burger King #04914 - Pensacola, FL 0.1% 1.2%         13392 Perdido Key Drive Pensacola Escambia FL 32507 Retail Single Tenant 1985 2022 4,098 SF   337,252 336,244 156,569                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,075,000 As Is 3/12/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 4,098 100.0% 6/5/2034 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
11.33 Property   1 Burger King #01425 - New Iberia, LA 0.0% 1.2%         1419 Center Street New Iberia Iberia LA 70560 Retail Single Tenant 1996 NAP 3,100 SF   325,062 324,090 150,910                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,000,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,100 100.0% 6/5/2034 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
11.34 Property   1 Burger King #05035 - Tuscaloosa, AL 0.0% 1.1%         2515 Stillman Boulevard Tuscaloosa Tuscaloosa AL 35401 Retail Single Tenant 1986 2017 4,182 SF   320,998 320,039 149,024                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,975,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 4,182 100.0% 6/5/2034 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                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.38 Property   1 Burger King #06149 - New Iberia, LA 0.0% 1.1%         1100 Parkview Drive New Iberia Iberia LA 70563 Retail Single Tenant 1988 NAP 2,720 SF   308,809 307,886 143,365                                                     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 3/27/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,720 100.0% 6/5/2034 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
11.37 Property   1 Burger King #06676 - Jackson, MS 0.0% 1.1%         1470 Canton Mart Road Jackson Hinds MS 39211 Retail Single Tenant 1990 2018 2,814 SF   308,809 307,886 143,365                                                     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 3/9/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,814 100.0% 6/5/2034 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
11.35 Property   1 Burger King #06783 - Baton Rouge, LA 0.0% 1.1%         5119 Jones Creek Road Baton Rouge East Baton Rouge LA 70817 Retail Single Tenant 1990 2019 2,881 SF   308,809 307,886 143,365                                                     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 3/19/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,881 100.0% 6/5/2034 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
11.36 Property   1 Burger King #10763 - Hammond, LA 0.0% 1.1%         46020 North Puma Drive Hammond Tangipahoa LA 70401 Retail Single Tenant 1997 2018 2,867 SF   308,809 307,886 143,365                                                     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 3/18/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,867 100.0% 6/5/2034 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
11.39 Property   1 Burger King #01489 - Mobile, AL 0.0% 1.1%         5380 Highway 90 West Mobile Mobile AL 36619 Retail Single Tenant 1984 2015 3,489 SF   296,619 295,733 137,706                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,825,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,489 100.0% 6/5/2034 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
11.40 Property   1 Burger King #12661 - Baton Rouge, LA 0.0% 1.1%         3530 Harding Boulevard Baton Rouge East Baton Rouge LA 70807 Retail Single Tenant 1999 2019 3,056 SF   296,619 295,733 137,706                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,825,000 As Is 3/19/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,056 100.0% 6/5/2034 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                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.42 Property   1 Burger King #10762 - Geismar, LA 0.0% 1.0%         13455 Highway 73 Geismar Ascension LA 70734 Retail Single Tenant 1996 2018 2,898 SF   292,556 291,682 135,819                                                     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 3/18/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,898 100.0% 6/5/2034 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
11.41 Property   1 Burger King #06906 - Warrensburg, MO 0.0% 1.0%         215 East Young Avenue Warrensburg Johnson MO 64093 Retail Single Tenant 1990 NAP 3,000 SF   292,556 291,682 135,819                                                     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 3/22/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,000 100.0% 6/5/2034 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                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.46 Property   1 Burger King #09686 - Thomasville, AL 0.0% 1.0%         34355 Highway 43 Thomasville Clarke AL 36784 Retail Single Tenant 1996 2017 2,905 SF   288,492 287,631 133,933                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,775,000 As Is 3/17/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,905 100.0% 6/5/2034 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
11.45 Property   1 Burger King #10572 - Eunice, LA 0.0% 1.0%         2300 West Laurel Avenue Eunice Saint Landry LA 70535 Retail Single Tenant 1997 NAP 2,998 SF   288,492 287,631 133,933                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,775,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,998 100.0% 6/5/2034 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 Leasehold 9/30/2027 2, 5-year extension options                  36,075 No                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.44 Property   1 Burger King #12329 - Rayne, LA 0.0% 1.0%         1021 Church Point Highway Rayne Acadia LA 70578 Retail Single Tenant 2000 NAP 3,200 SF   288,492 287,631 133,933                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,775,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,200 100.0% 6/5/2034 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
11.43 Property   1 Burger King #13080 - Slidell, LA 0.0% 1.0%         120 Brownswitch Road Slidell Saint Tammany LA 70458 Retail Single Tenant 2000 2020 3,939 SF   288,492 287,631 133,933                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,775,000 As Is 3/19/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,939 100.0% 6/5/2034 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 - A1 Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.47 Property   1 Burger King #02483 - Mobile, AL 0.0% 1.0%         7701 Airport Boulevard Mobile Mobile AL 36608 Retail Single Tenant 1980 2019 3,722 SF   284,429 283,579 132,046                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,750,000 As Is 3/16/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,722 100.0% 6/5/2034 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
11.49 Property   1 Burger King #09026 - Laurel, MS 0.0% 1.0%         2130 Highway 15 North Laurel Jones MS 39440 Retail Single Tenant 1995 2017 2,554 SF   284,429 283,579 132,046                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,750,000 As Is 3/21/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,554 100.0% 6/5/2034 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
11.48 Property   1 Burger King #11544 - Westlake, LA 0.0% 1.0%         801 Sampson Street Westlake Calcasieu LA 70669 Retail Single Tenant 1998 2017 2,974 SF   284,429 283,579 132,046                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,750,000 As Is 3/16/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,974 100.0% 6/5/2034 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
11.52 Property   1 Burger King #03623 - Covington, LA 0.0% 1.0%         605 North Highway 190 Covington Saint Tammany LA 70433 Retail Single Tenant 1983 2014 2,430 SF   276,302 275,477 128,274                                                     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 3/18/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,430 100.0% 6/5/2034 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
11.51 Property   1 Burger King #11715 - Ville Platte, LA 0.0% 1.0%         1212 East Main Street Ville Platte Evangeline LA 70586 Retail Single Tenant 1998 NAP 2,998 SF   276,302 275,477 128,274                                                     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 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,998 100.0% 6/5/2034 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
11.50 Property   1 Burger King #12313 - Roeland Park, KS 0.0% 1.0%         4811 Roe Boulevard Roeland Park Johnson KS 66205 Retail Single Tenant 1999 NAP 4,018 SF   276,302 275,477 128,274                                                     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 3/22/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 4,018 100.0% 6/5/2034 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
11.54 Property   1 Burger King #06674 - Slidell, LA 0.0% 1.0%         141 Northshore Boulevard Slidell Saint Tammany LA 70460 Retail Single Tenant 1990 NAP 2,905 SF   272,239 271,426 126,387                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,675,000 As Is 3/19/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,905 100.0% 6/5/2034 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
11.53 Property   1 Burger King #09692 - Greenwell Springs, LA 0.0% 1.0%         14280 Greenwell Springs Road Greenwell Springs East Baton Rouge LA 70739 Retail Single Tenant 1996 2017 3,114 SF   272,239 271,426 126,387                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,675,000 As Is 3/19/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,114 100.0% 6/5/2034 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
11.55 Property   1 Burger King #01428 - Sulphur, LA 0.0% 1.0%         2017 Ruth Street Sulphur Calcasieu LA 70663 Retail Single Tenant 2011 NAP 2,957 SF   268,176 267,375 124,501                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,650,000 As Is 3/16/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,957 100.0% 6/5/2034 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
11.56 Property   1 Burger King #05981 - Meridian, MS 0.0% 0.9%         2100 North Frontage Road Meridian Lauderdale MS 39301 Retail Single Tenant 1988 2014 2,662 SF   260,049 259,272 120,728                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,600,000 As Is 3/17/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,662 100.0% 6/5/2034 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                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.58 Property   1 Burger King #08645 - Pace, FL 0.0% 0.9%         4120 Highway 90 Pace Santa Rosa FL 32571 Retail Single Tenant 1994 2020 2,475 SF   260,049 259,272 120,728                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,600,000 As Is 3/12/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,475 100.0% 6/5/2034 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
11.57 Property   1 Burger King #09213 - Pensacola, FL 0.0% 0.9%         3210 West Michigan Avenue Pensacola Escambia FL 32526 Retail Single Tenant 1996 2020 2,613 SF   260,049 259,272 120,728                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,600,000 As Is 3/12/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,613 100.0% 6/5/2034 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 - A Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.62 Property   1 Burger King #03585 - Daphne, AL 0.0% 0.9%         29295 US Highway 98 Daphne Baldwin AL 36526 Retail Single Tenant 1983 2019 2,799 SF   251,923 251,170 116,956                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,550,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,799 100.0% 6/5/2034 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
11.61 Property   1 Burger King #12322 - Oakdale, LA 0.0% 0.9%         695 U.S. Highway 165 South Oakdale Allen LA 71463 Retail Single Tenant 1999 NAP 2,967 SF   251,923 251,170 116,956                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,550,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,967 100.0% 6/5/2034 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
11.60 Property   1 Burger King #04330 - Kansas City, MO 0.0% 0.9%         340 West 72nd Street Kansas City Jackson MO 64114 Retail Single Tenant 1985 NAP 3,011 SF   251,923 251,170 116,956                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,550,000 As Is 3/22/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,011 100.0% 6/5/2034 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
11.59 Property   1 Burger King #02831 - Olathe, KS 0.0% 0.9%         2004 East Santa Fe Street Olathe Johnson KS 66062 Retail Single Tenant 1976 NAP 4,757 SF   251,923 251,170 116,956                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,550,000 As Is 3/22/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 4,757 100.0% 6/5/2034 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
11.63 Property   1 Burger King #06916 - Kenner, LA 0.0% 0.9%         1000 West Esplanade Avenue Kenner Jefferson LA 70065 Retail Single Tenant 1990 2018 3,008 SF   247,860 247,119 115,069                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,525,000 As Is 3/15/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,008 100.0% 6/5/2034 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
11.65 Property   1 Burger King #09115 - Meridian, MS 0.0% 0.9%         4825 8th Street Meridian Lauderdale MS 39307 Retail Single Tenant 1995 2015 2,391 SF   247,860 247,119 115,069                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,525,000 As Is 3/17/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,391 100.0% 6/5/2034 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                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.64 Property   1 Burger King #11694 - DeQuincy, LA 0.0% 0.9%         901 East Fourth Street DeQuincy Calcasieu LA 70633 Retail Single Tenant 1998 2017 2,986 SF   247,860 247,119 115,069                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,525,000 As Is 3/16/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,986 100.0% 6/5/2034 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
11.66 Property   1 Burger King #00373 - Mobile, AL 0.0% 0.9%         3946 Government Boulevard Mobile Mobile AL 36693 Retail Single Tenant 1967 2012 2,421 SF   243,796 243,068 113,183                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,500,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,421 100.0% 6/5/2034 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
11.67 Property   1 Burger King #01617 - Lake Charles, LA 0.0% 0.9%         1211 Martin Luther King Highway Lake Charles Calcasieu LA 70601 Retail Single Tenant 1976 2017 3,194 SF   239,733 239,017 111,296                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,475,000 As Is 3/16/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,194 100.0% 6/5/2034 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
11.68 Property   1 Burger King #01917 - Vidalia, LA 0.0% 0.9%         1115 Carter Street Vidalia Concordia LA 71373 Retail Single Tenant 1977 NAP 2,913 SF   239,733 239,017 111,296                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,475,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,913 100.0% 6/5/2034 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
11.69 Property   1 Burger King #12264 - Mission, KS 0.0% 0.8%         6880 Johnson Drive Mission Johnson KS 66202 Retail Single Tenant 1999 NAP 4,001 SF   235,670 234,966 109,410                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,450,000 As Is 3/22/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 4,001 100.0% 6/5/2034 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
11.70 Property   1 Burger King #09804 - Gonzales, LA 0.0% 0.8%         404 North Airline Highway Gonzales Ascension LA 70737 Retail Single Tenant 1996 2015 2,987 SF   231,606 230,915 107,524                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,425,000 As Is 3/18/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,987 100.0% 6/5/2034 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
11.71 Property   1 Burger King #11095 - Tuscaloosa, AL 0.0% 0.8%         4900 Skyland Boulevard East Tuscaloosa Tuscaloosa AL 35405 Retail Single Tenant 1998 NAP 2,932 SF   231,606 230,915 107,524                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,425,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,932 100.0% 6/5/2034 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                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.72 Property   1 Burger King #09259 - Gulf Breeze, FL 0.0% 0.8%         3380 Gulf Breeze Parkway Gulf Breeze Santa Rosa FL 32563 Retail Single Tenant 1995 NAP 2,621 SF   223,480 222,812 103,751                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,375,000 As Is 3/12/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,621 100.0% 6/5/2034 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
11.73 Property   1 Burger King #00144 - Baton Rouge, LA 0.0% 0.8%         4951 Florida Boulevard Baton Rouge East Baton Rouge LA 70806 Retail Single Tenant 1964 2015 3,240 SF   219,418 218,762 101,865                                                     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 3/22/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,240 100.0% 6/5/2034 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
11.75 Property   1 Burger King #06488 - Mobile, AL 0.0% 0.8%         6403 Cottage Hill Road Mobile Mobile AL 36695 Retail Single Tenant 1989 NAP 2,795 SF   219,416 218,761 101,864                                                     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 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,795 100.0% 6/5/2034 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
11.74 Property   1 Burger King #12597 - Lake Charles, LA 0.0% 0.8%         279 Sam Houston Jones Parkway Lake Charles Calcasieu LA 70611 Retail Single Tenant 1999 2017 3,073 SF   219,416 218,761 101,864                                                     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 3/16/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,073 100.0% 6/5/2034 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
11.76 Property   1 Burger King #00211 - Baton Rouge, LA 0.0% 0.8%         3100 Highland Road Baton Rouge East Baton Rouge LA 70802 Retail Single Tenant 1996 2018 2,980 SF   211,290 210,659 98,092                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,300,000 As Is 3/18/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,980 100.0% 6/5/2034 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
11.77 Property   1 Burger King #01337 - Metairie, LA 0.0% 0.8%         8101 Airline Drive Metairie Jefferson LA 70003 Retail Single Tenant 1974 2018 2,970 SF   211,290 210,659 98,092                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,300,000 As Is 3/15/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,970 100.0% 6/5/2034 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
11.78 Property   1 Burger King #04016 - Mobile, AL 0.0% 0.7%         3004 Airport Boulevard Mobile Mobile AL 36606 Retail Single Tenant 1984 2016 4,134 SF   207,227 206,608 96,205                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,275,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 4,134 100.0% 6/5/2034 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                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.79 Property   1 Burger King #10607 - Houma, LA 0.0% 0.7%         1637 Martin Luther King Jr Boulevard Houma Terrebonne LA 70360 Retail Single Tenant 1997 2018 2,975 SF   199,100 198,505 92,432                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,225,000 As Is 3/18/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,975 100.0% 6/5/2034 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 / Leasehold 9/24/2027 2, 5-year extension options                  72,473 No                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.80 Property   1 Burger King #10800 - Livingston, AL 0.0% 0.7%         639 Highway 28 Livingston Sumter AL 35470 Retail Single Tenant 1998 NAP 2,921 SF   199,100 198,505 92,432                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,225,000 As Is 3/17/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,921 100.0% 6/5/2034 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                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.82 Property   1 Burger King #09958 - Grove Hill, AL 0.0% 0.7%         198 South Jackson Street Grove Hill Clarke AL 36451 Retail Single Tenant 1996 2017 2,399 SF   195,037 194,454 90,546                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,200,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,399 100.0% 6/5/2034 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
11.81 Property   1 Burger King #12820 - Iowa, LA 0.0% 0.7%         1111 Lowe Grout Road Iowa Calcasieu LA 70647 Retail Single Tenant 1999 2017 3,073 SF   195,037 194,454 90,546                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,200,000 As Is 3/16/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,073 100.0% 6/5/2034 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
11.83 Property   1 Burger King #01149 - Baton Rouge, LA 0.0% 0.7%         6244 Airline Highway Baton Rouge East Baton Rouge LA 70805 Retail Single Tenant 1972 2018 2,625 SF   190,974 190,403 88,660                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,175,000 As Is 3/19/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,625 100.0% 6/5/2034 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
11.84 Property   1 Burger King #06325 - Baton Rouge, LA 0.0% 0.6%         7004 Siegen Lane Baton Rouge East Baton Rouge LA 70809 Retail Single Tenant 1989 2017 3,047 SF   178,784 178,250 83,001                                                     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 3/18/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,047 100.0% 6/5/2034 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
11.88 Property   1 Burger King #06048 - Tuscaloosa, AL 0.0% 0.6%         1601 McFarland Boulevard North Tuscaloosa Tuscaloosa AL 35406 Retail Single Tenant 1988 NAP 2,585 SF   170,657 170,147 79,228                                                     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 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,585 100.0% 6/5/2034 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
11.86 Property   1 Burger King #11979 - Monroe, LA 0.0% 0.6%         5151 Forsythe Bypass Monroe Ouachita LA 71201 Retail Single Tenant 1998 NAP 3,014 SF   170,657 170,147 79,228                                                     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 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,014 100.0% 6/5/2034 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
11.85 Property   1 Burger King #13081 - New Iberia, LA 0.0% 0.6%         2919 South Lewis Street New Iberia Iberia LA 70560 Retail Single Tenant 2000 NAP 3,500 SF   170,657 170,147 79,228                                                     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 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,500 100.0% 6/5/2034 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 Leasehold 3/28/2025 3, 5-year extension options                  52,272 No                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.87 Property   1 Burger King #03685 - Kansas City, MO 0.0% 0.6%         3441 Main Street Kansas City Jackson MO 64111 Retail Single Tenant 1983 NAP 2,695 SF   170,657 170,147 79,228                                                     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 3/22/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,695 100.0% 6/5/2034 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
11.89 Property   1 Burger King #06105 - Northport, AL 0.0% 0.6%         3820 McFarland Boulevard West Northport Tuscaloosa AL 35476 Retail Single Tenant 1988 NAP 2,636 SF   166,594 166,096 77,342                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,025,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,636 100.0% 6/5/2034 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
11.90 Property   1 Burger King #12919 - Covington, LA 0.0% 0.6%         1005 Ronald Reagan Highway Covington Saint Tammany LA 70433 Retail Single Tenant 1999 2020 3,920 SF   162,531 162,045 75,455                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,000,000 As Is 3/19/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,920 100.0% 6/5/2034 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 Leasehold 12/22/2024 3, 5-year extension options                  53,572 No                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.92 Property   1 Burger King #09853 - Franklin, LA 0.0% 0.6%         1825 Main Street Franklin Saint Mary LA 70538 Retail Single Tenant 1996 NAP 2,990 SF   158,467 157,994 73,569                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         975,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,990 100.0% 6/5/2034 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
11.91 Property   1 Burger King #12660 - Vinton, LA 0.0% 0.6%         1807 West Street Vinton Calcasieu LA 70668 Retail Single Tenant 1999 2017 3,073 SF   158,467 157,994 73,569                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         975,000 As Is 3/16/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,073 100.0% 6/5/2034 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
11.93 Property   1 Burger King #00360 - New Orleans, LA 0.0% 0.5%         1700 Saint Charles Avenue New Orleans Orleans LA 70130 Retail Single Tenant 1968 2022 2,654 SF   142,215 141,790 66,023                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         875,000 As Is 3/15/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,654 100.0% 6/5/2034 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 Leasehold 2/29/2024 3, 5-year extension options                  50,650 No                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.94 Property   1 Burger King #12753 - Slidell, LA 0.0% 0.4%         3114 Pontchartrain Drive Slidell Saint Tammany LA 70458 Retail Single Tenant 1999 NAP 2,635 SF   121,898 121,534 56,591                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         750,000 As Is 3/19/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,635 100.0% 6/5/2034 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 Leasehold 8/31/2024 3, 5-year extension options                  58,564 No                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.95 Property   1 Burger King #01315 - Alexandria, LA 0.0% 0.4%         3705 South MacArthur Drive Alexandria Rapides LA 71302 Retail Single Tenant 1974 NAP 3,206 SF   105,645 105,329 49,046                                                     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 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,206 100.0% 6/5/2034 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 / Leasehold 5/2/2024 3, 5-year extension options                  40,674 Yes                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.96 Property   1 Burger King #12752 - Lafayette, LA 0.0% 0.3%         1726 North University Avenue Lafayette Lafayette LA 70507 Retail Single Tenant 1999 NAP 2,850 SF   73,139 72,920 33,955                                                     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 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,850 100.0% 6/5/2034 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 Leasehold 9/23/2024 3, 5-year extension options                  43,560 No                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.98 Property   1 Burger King #01537 - Lafayette, LA 0.0% 0.2%         312 Jefferson Boulevard Lafayette Lafayette LA 70501 Retail Single Tenant 1975 NAP 3,200 SF   69,075 68,869 32,068                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         0 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,200 100.0% 6/5/2034 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 / Leasehold 3/24/2025 4, 5-year extension options                  64,902 No                                                                                                       Yes                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.97 Property   1 Burger King #11488 - Lafayette, LA 0.0% 0.2%         2256 Ambassador Caffery Parkway Lafayette Lafayette LA 70506 Retail Single Tenant 1998 NAP 3,358 SF   69,075 68,869 32,068                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         425,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 3,358 100.0% 6/5/2034 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 - A Leasehold 4/15/2028 4, 5-year extension options and 1, 6-year extension option                  70,862 No                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
11.99 Property   1 Burger King #00501 - Lafayette, LA 0.0% 0.0%         1500 Johnston Street Lafayette Lafayette LA 70503 Retail Single Tenant 1988 NAP 2,654 SF   0 0 0                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         425,000 As Is 3/20/2023     100.0% 5/2/2023 Yes GPS Hospitality Partners IV, LLC 2,654 100.0% 6/5/2034 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 / Leasehold 6/5/2024 1, 5-year extension option                  29,296 No                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
12 Loan   1 Montreal Beach Resort 4.0% 100.0% BSPRT BSPRT NAP NAP 1025 Beach Avenue Cape May Cape May NJ 08204 Hospitality Full Service 1966 2022 70 Rooms 375,000.00 26,250,000 26,250,000 23,609,376 7.50000% 0.01876% 7.48124% 183,543.81 166,341.15 2,202,525.72 1,996,093.80 Interest Only, Amortizing Balloon No Actual/360 12 12 120 120 360 360 5/12/2023 0 6 7/6/2023 7/6/2024 6/6/2033 6/6/2033 0 0 L(24),D(92),O(4) 10,604,700 6,063,663 4,541,037 4/30/2023 T-12 10,484,552 6,055,796 4,428,756 12/31/2022 T-12 9,465,978 6,865,121 2,600,857 11/30/2021 T-11 54.4% 10,604,700 6,299,852 4,304,848 424,188 0 3,880,660 1.95 1.76 16.4% 14.8% 42,500,000 As Is 1/3/2023 61.8% 55.6% 54.4% 4/30/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 1/6/2023 NAP 1/6/2023 NAP NAP Yes - AE Fee NAP NAP  NAP  NAP 17,875 8,937 180,905 41,896 0 35,349 0 0 0 0 0 0 0 0 0 Springing Seasonality Reserve 1,650,000 NAP 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 Daniel T. Alicea Daniel T. Alicea No No Refinance No 26,250,000 99,054 0 0 26,349,054 25,500,000 0 650,274 198,780 0 0 26,349,054 NAP 359.87 195.79 54.4% 365.08 198.62 54.4% 370.10 194.42 52.5% 342.30 178.00 52.0%
13 Loan   2 Philadelphia Life Science Portfolio 3.5%   KeyBank KeyBank Group A NAP Various Philadelphia Philadelphia PA Various Industrial Various Various NAP 301,344 SF 76.32 23,000,000 23,000,000 23,000,000 6.16000% 0.02751% 6.13249% NAP 119,706.48 NAP 1,436,477.76 Interest Only No Actual/360 120 119 120 119 0 0 4/12/2023 1 1 6/1/2023 NAP 5/1/2033 5/1/2033 0 0 L(25),D(92),O(3)  NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 4,050,644 1,077,649 2,972,995 40,269 150,940 2,781,786 2.07 1.94 12.9% 12.1% 55,800,000 As Is 1/18/2023 41.2% 41.2% 100.0% 4/12/2023                                                                  0 Springing 0 Springing 200,000 Springing 200,000 600,000 Springing 0 0 0 0 2,025,586 0 0   0 NAP 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 NexPoint Real Estate Advisors, L.P. The Dugaboy Investment Trust  Yes No Refinance   23,000,000 11,380,509 0 0 34,380,509 27,011,855 0 4,543,067 2,825,586 0 0 34,380,509 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
13.01 Property   1 Adare Dungan 1.9% 53.7%         7700-7744 Dungan Road Philadelphia Philadelphia PA 19111 Industrial Warehouse / Distribution 1960 NAP 172,107 SF   12,342,051 12,342,051 12,342,051                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 94.8% 2,202,733 635,699 1,567,034 24,422 90,474 1,452,138         29,942,889 As Is 1/18/2023     100.0% 4/12/2023 Yes Adare Pharma Solutions (fka Frontida Biopharm LLC) 172,107 100.0% 1/31/2043 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 12/2/2022 NAP 12/15/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
13.02 Property   1 Adare Orthodox 1.6% 46.3%         1040-1098, 1100, 1120 and 1170 Orthodox Street Philadelphia Philadelphia PA 19124 Industrial R&D 1960, 1962, 1993 NAP 129,237 SF   10,657,949 10,657,949 10,657,949                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.3% 1,847,911 441,950 1,405,961 15,847 60,466 1,329,648         25,857,111 As Is 1/18/2023     100.0% 4/12/2023 Yes Adare Pharma Solutions (fka Frontida Biopharm LLC) 129,237 100.0% 1/31/2043 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 12/8/2022 NAP 12/15/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
14 Loan   4 Orizon Aerostructures 3.4%   BMO BMO NAP NAP Various Various Various Various Various Industrial Manufacturing Various Various 785,000 SF 77.83 22,595,000 22,595,000 22,595,000 6.80500% 0.01876% 6.78624% NAP 129,912.10 NAP 1,558,945.20 Interest Only No Actual/360 120 114 120 114 0 0 11/15/2022 6 6 1/6/2023 NAP 12/6/2032 12/6/2032 0 0 L(30),DorYM1(85),O(5) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 7,718,750 0 7,718,750 0 0 7,718,750 1.83 1.83 12.6% 12.6% 125,000,000 As Portfolio 10/17/2022 48.9% 48.9% 100.0% 11/15/2022                                                                  0 Springing 0 Springing 0 Springing 0 0 Springing 0 0 0 0 0 0 0   0 NAP NAP Hard In Place Yes Yes Yes Yes 22,595,000 38,500,000 221,359.40 351,271.50 NAP NAP 61,095,000 351,271.50 48.9% 1.83 12.6% NAP NAP NAP NAP NAP NAP NAP No NAP LCN North American Fund III, L.P. LCN North American Fund III REIT No No Acquisition   61,095,000 61,801,361 0 0 122,896,361 0 122,180,000 716,361 0 0 0 122,896,361 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
14.01 Property   1 2522 and 2526 W. 21st Street, Chanute, KS 1.3% 38.5%         2522 West 21st Street Chanute Neosho KS 66720 Industrial Manufacturing 1992, 2017, 2020 NAP 300,000 SF   8,695,982 8,695,982 8,695,982                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         47,800,000 As Is 10/17/2022     100.0% 11/15/2022 Yes Orizon Aerostructures, LLC 300,000 100.0% 12/31/2047 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/23/2022 NAP 8/23/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
14.02 Property   1 500 Industrial Road A, Grove, OK 1.0% 28.2%         500 Industrial Road A Grove Delaware OK 74344 Industrial Manufacturing 1969, 2001, 2011, 2014 2012, 2017, 2018 220,000 SF   6,367,351 6,367,351 6,367,351                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         35,000,000 As Is 10/17/2022     100.0% 11/15/2022 Yes Orizon Aerostructures, LLC 220,000 100.0% 12/31/2047 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/23/2022 NAP 8/23/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
14.03 Property   1 801 W. Old 56 Hwy, Olathe, KS 0.9% 26.2%         801 West Old 56 Highway Olathe Johnson KS 66061 Industrial Manufacturing 2016 NAP 205,000 SF   5,930,733 5,930,733 5,930,733                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         32,600,000 As Is 10/17/2022     100.0% 11/15/2022 Yes Orizon Aerostructures, LLC 205,000 100.0% 12/31/2047 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/23/2022 NAP 8/23/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
14.04 Property   1 615 W. Cherry Street, Chanute, KS 0.2% 7.1%         615 West Cherry Street Chanute Neosho KS 66720 Industrial Manufacturing 1968, 1984, 1995 2023 60,000 SF   1,600,934 1,600,934 1,600,934                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         9,550,000 As Is 10/17/2022     100.0% 11/15/2022 Yes Orizon Aerostructures, LLC 60,000 100.0% 12/31/2047 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/24/2022 NAP 8/24/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
15 Loan   1 GRM Indianapolis 2.6% 100.0% SMC SMC NAP NAP 2002 South East Street Indianapolis Marion IN 46225 Industrial Warehouse / Distribution 1940 1989 394,570 SF 43.08 17,000,000 17,000,000 17,000,000 6.26000% 0.01876% 6.24124% NAP 89,915.05 NAP 1,078,980.56 Interest Only No Actual/360 60 59 60 59 0 0 4/28/2023 1 6 6/6/2023 NAP 5/6/2028 5/6/2028 0 0 L(25),D(29),O(6) 901,513 113,674 787,839 2/28/2023 T-12 900,631 109,351 791,280 12/31/2022 T-12 886,455 115,492 770,963 12/31/2021 T-12 95.0% 2,411,860 368,832 2,043,028 59,186 106,900 1,876,942 1.89 1.74 12.0% 11.0% 30,100,000 As Is 3/29/2023 56.5% 56.5% 100.0% 4/28/2023 Yes GRM Lease Holding, LLC 394,570 100.0% 5/31/2038 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/5/2023 NAP 4/5/2023 NAP NAP No Fee NAP NAP  NAP  NAP 4,735 4,735 0 Springing 0 4,932 0 0 0 0 0 0 0 289,944 0 Springing Major Tenant Reserve 0 NAP 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 Moishe Mana Moishe Mana No No Refinance No 17,000,000 0 0 0 17,000,000 4,675,475 0 1,779,406 294,679 10,250,440 0 17,000,000 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
16 Loan   1 The Penleigh 2.4% 100.0% BSPRT BSPRT NAP NAP 300 North Francis Street  Branson Taney MO 65616 Multifamily Garden 1994 2022 325 Units 48,461.54 15,750,000 15,750,000 15,750,000 7.14000% 0.01876% 7.12124% NAP 95,014.06 NAP 1,140,168.72 Interest Only No Actual/360 120 120 120 120 0 0 5/11/2023 0 6 7/6/2023 NAP 6/6/2033 6/6/2033 0 0 L(24),YM1(92),O(4) 1,131,992 704,013 427,979 3/31/2023 T-12 NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 95.0% 2,746,000 1,207,254 1,538,746 81,250 0 1,457,496 1.35 1.28 9.8% 9.3% 26,500,000 As Is 3/16/2023 59.4% 59.4% 95.7% 4/10/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/23/2023 NAP 3/22/2023 NAP NAP No Fee NAP NAP  NAP  NAP 82,354 11,765 89,644 11,206 0 6,771 0 0 0 0 0 0 0 39,198 0 0   0 NAP 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 David Pezzola and Galen Drever David Pezzola and Galen Drever No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
17 Loan   1 Pacific Design Center 2.3% 100.0% GSBI BMO NAP NAP 8687 and 8661 Melrose Avenue and 700 North San Vicente Boulevard West Hollywood Los Angeles CA 90069 Mixed Use Office/Showroom/Lab 1975, 1988 2004 1,053,217 SF 232.62 15,000,000 15,000,000 15,000,000 5.941071428571430% 0.01876% 5.92231% NAP 75,294.83 NAP 903,537.96 Interest Only No Actual/360 120 116 120 116 0 0 1/11/2023 4 6 3/6/2023 NAP 2/6/2033 2/6/2033 0 0 L(28),D(85),O(7) 40,094,569 13,349,509 26,745,060 9/30/2022 T-12 38,026,102 12,241,303 25,784,799 12/31/2021 T-12 32,245,576 11,178,233 21,067,343 12/31/2020 T-12 82.6% 46,802,895 13,021,016 33,781,880 210,643 1,524,048 32,047,188 2.29 2.17 13.8% 13.1% 512,500,000 As Is 11/17/2022 47.8% 47.8% 78.3% 12/6/2022 No Cedars Sinai Medical Center 259,653 24.7% 5/31/2030 8687 Melrose GreenTenant 54,630 5.2% 2/28/2034 Pluto, Inc. 35,850 3.4% 11/30/2028 InvestCloud, Inc. 32,128 3.1% 1/31/2027 Kneedler Fauchere 17,762 1.7% 1/31/2028 11/22/2022 NAP 11/22/2022 11/22/2022 16% No Fee NAP NAP  NAP  NAP 178,740 178,740 0 Springing 0 17,554 0 3,000,000 Springing 5,000,000 0 0 0 0 13,809,708 Springing Unfunded Obligations Reserve (Upfront: $13,809,708.28), Major Tenant Downgrade Funds (Monthly: Springing), Major Tenant Non-Renewal Funds (Monthly: Springing) 0 NAP NAP Hard Springing Yes Yes Yes No 15,000,000 230,000,000 1,154,520.71 1,229,815.54 20,000,000 15.50000% 265,000,000 1,491,736.84 51.7% 1.79 12.7% NAP NAP NAP NAP NAP NAP NAP Yes Future Mezzanine Loan Charles Steven Cohen Charles Steven Cohen No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
18 Loan   1 La Habra Marketplace 2.3% 100.0% 3650 REIT 3650 REIT NAP NAP 1641 West Imperial Highway La Habra Orange CA 90631 Retail Anchored 1968-2002 2005-2019 372,476 SF 255.05 15,000,000 15,000,000 15,000,000 3.70000% 0.01876% 3.68124% NAP 46,892.36 NAP 562,708.32 Interest Only No Actual/360 120 102 120 102 0 0 12/3/2021 18 5 1/5/2022 NAP 12/5/2031 12/5/2031 0 0 L(42),D(74),O(4)  11,993,438 2,627,096 9,366,342 7/31/2022 T-12 10,564,292 2,749,929 7,814,362 12/31/2021 T-12 9,980,591 2,409,275 7,571,315 12/31/2020 T-12 95.0% 11,154,296 2,690,213 8,464,083 74,495 47,476 8,342,112 2.38 2.34 8.9% 8.8% 153,000,000 As Is 8/10/2021 62.1% 62.1% 95.6% 8/2/2022 No Regal Entertainment Group 59,800 16.1% 4/30/2034 LA Fitness 50,322 13.5% 12/31/2034 Hobby Lobby 44,060 11.8% 6/30/2028 Ross Dress For Less 25,920 7.0% 1/31/2028 Sprouts 25,252 6.8% 9/30/2024 9/15/2021 NAP 8/19/2021 8/19/2021 10% No Fee NAP NAP  NAP  NAP 0 111,540 0 Springing 0 5,983 1,250,000 3,250,000 29,917 1,250,000 0 0 0 0 0 0   0 NAP NAP Soft Springing Springing Yes Yes Yes No 15,000,000 80,000,000 250,092.59 296,984.95 NAP NAP 95,000,000 296,984.95 62.1% 2.34 8.9% NAP NAP NAP NAP NAP NAP NAP No NAP Eric Sahn Eric Sahn No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
19 Loan   1 Comfort Suites Maingate East 2.1% 100.0% BMO BMO NAP NAP 2775 Florida Plaza Boulevard Kissimmee Osceola FL 34746 Hospitality Limited Service 2000 2020 198 Rooms 70,707.07 14,000,000 14,000,000 13,405,959 7.99000% 0.01876% 7.97124% 102,629.46 94,511.34 1,231,553.52 1,134,136.08 Interest Only, Amortizing Balloon No Actual/360 60 58 120 118 360 360 3/30/2023 2 6 5/6/2023 5/6/2028 4/6/2033 4/6/2033 0 0 L(26),D(90),O(4) 6,705,836 5,029,443 1,676,393 2/28/2023 T-12 6,472,828 4,840,111 1,632,717 12/31/2022 T-12 3,304,621 3,060,199 244,422 12/31/2021 T-12 78.1% 6,937,724 4,801,730 2,135,994 277,509 0 1,858,485 1.73 1.51 15.3% 13.3% 24,300,000 As Is 2/2/2023 57.6% 55.2% 78.1% 2/28/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/2/2023 NAP 2/2/2023 NAP NAP No Fee NAP NAP  NAP  NAP 130,313 18,616 59,983 19,994 0 11,553 0 0 0 0 0 0 0 11,330 624,139 Springing PIP Reserve (Upfront: $324,139), Seasonality Reserve (Upfront: $300,000, Monthly: Springing) 350,000 NAP 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 Wesley L. Spruill Wesley L. Spruill No No Acquisition No                         3/30/2043 116.11 90.63 78.1% 116.11 90.63 78.1% 114.35 87.50 76.5% 98.25 44.56 45.4%
20 Loan   1 801 Bridgeboro Road 2.0% 100.0% CREFI CREFI NAP NAP 801 Bridgeboro Road Edgewater Park Burlington NJ 08010 Industrial Warehouse / Distribution 1850 1987 307,887 SF 42.22 13,000,000 13,000,000 13,000,000 6.97000% 0.01876% 6.95124% NAP 76,557.06 NAP 918,684.72 Interest Only No Actual/360 120 120 120 120 0 0 5/9/2023 0 6 7/6/2023 NAP 6/6/2033 6/6/2033 0 0 L(24),D(93),O(3) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 86.9% 2,530,620 454,387 2,076,233 46,183 74,259 1,955,791 2.26 2.13 16.0% 15.0% 22,650,000 As Is 4/25/2023 57.4% 57.4% 83.8% 4/1/2023 No L&M Third Party Logistics, LLC 153,000 49.7% 2/28/2026 Armstrong Logistics 70,887 23.0% 3/31/2028 SunWise Energy 22,000 7.1% 12/31/2027 YouInkIt 12,000 3.9% 4/30/2028 NAP NAP NAP NAP 3/23/2023 NAP 3/23/2023 NAP NAP No Fee NAP NAP  NAP  NAP 13,505 6,752 41,609 8,322 0 3,849 0 700,000 Springing 500,000 0 0 0 431,238 744,314 0 Armstrong Reserve 0 NAP NAP Springing 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 Eric Scott Cohen Eric Scott Cohen No No Recapitalization No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
21 Loan   1 Crosswinds Business Park 1.9% 100.0% SMC SMC NAP NAP 11826 Tech Com Drive San Antonio Bexar TX 78233 Industrial Flex 1999 NAP 96,597 SF 128.81 12,450,000 12,442,427 10,888,282 7.09000% 0.05876% 7.03124% 83,584.05 NAP 1,003,008.60 NAP Amortizing Balloon No Actual/360 0 0 120 119 360 359 5/3/2023 1 6 6/6/2023 6/6/2023 5/6/2033 5/6/2033 0 0 L(25),D(89),O(6) 1,618,045 858,986 759,058 2/28/2023 T-12 1,161,543 853,569 307,974 12/31/2022 T-12 1,949,070 295,201 1,653,869 12/31/2021 T-12 95.5% 2,396,832 907,317 1,489,515 14,490 120,746 1,354,279 1.49 1.35 12.0% 10.9% 21,400,000 As Stabilized 8/1/2023 58.1% 50.9% 100.0% 4/18/2023 No Spectrum / Charter Communications 87,597 90.7% 7/31/2030 GSA - US Marshals Service 9,000 9.3% 5/5/2039 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/10/2023 NAP 4/10/2023 NAP NAP No Fee NAP NAP  NAP  NAP 94,887 18,977 5,485 1,097 0 1,207 0 0 10,062 0 0 0 0 57,788 2,007,939 0 Spectrum TI Reserve ($1,932,421), Spectrum Free Rent Reserve ($75,518) 0 NAP 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 Sidhartha Singh Sidhartha Singh No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
22 Loan   1 Loves Park Tech Center 1.7% 100.0% 3650 REIT 3650 REIT NAP NAP 1354 Clifford Avenue Loves Park Winnebago IL 61111 Industrial Warehouse 1953 NAP 534,642 SF 20.99 11,220,000 11,220,000 11,220,000 7.01000% 0.01876% 6.99124% NAP 66,453.83 NAP 797,445.96 Interest Only No Actual/360 120 120 120 120 0 0 5/12/2023 0 5 7/5/2023 NAP 6/5/2033 6/5/2033 0 0 L(24),D(92),O(4) 2,595,705 1,843,481 752,224 1/31/2023 T-12 2,589,033 1,857,591 731,442 12/31/2022 T-12 NAV NAV NAV NAV NAV 88.6% 3,518,021 1,919,811 1,598,210 23,464 90,000 1,484,746 2.00 1.86 14.2% 13.2% 17,000,000 As Is 2/8/2023 66.0% 66.0% 80.4% 12/1/2022 No GE 186,138 34.8% 1/31/2032 Rusco Manufacturing 68,250 12.8% 8/31/2027 Team Best 46,990 8.8% 10/14/2029 Pierce Distribution 31,250 5.8% 6/30/2026 Lanter Distribution 28,800 5.4% 3/31/2028 11/28/2022 NAP 11/29/2022 NAP NAP Yes - AE Fee NAP NAP  NAP  NAP 26,162 8,721 0 Springing 0 4,455 200,000 300,000 7,500 0 0 0 0 0 418,281 0 Outstanding TI/LC Reserve (Upfront: $389,480.64), Free Rent Reserve (Upfront: $28,800) 0 NAP 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 Ross Ian Ross No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
23 Loan   1 800 Cesar Chavez 1.5% 100.0% 3650 REIT 3650 REIT NAP NAP 630 and 640-800 Cesar Chavez San Francisco San Francisco CA 94124 Industrial Warehouse 1953 NAP 122,360 SF 310.56 10,000,000 10,000,000 10,000,000 4.11000% 0.01876% 4.09124% NAP 34,725.69 NAP 416,708.28 Interest Only No Actual/360 120 105 120 105 0 0 2/22/2022 15 5 4/5/2022 NAP 3/5/2032 3/5/2032 0 0 L(35),D(81),O(4) NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV 99.0% 3,271,904 98,157 3,173,746 5,403 -5,403 3,173,746 2.00 2.00 8.4% 8.4% 70,700,000 As Is 3/28/2022 53.7% 53.7% 100.0% 6/5/2023 Yes GM Cruise 122,360 100.0% 11/30/2030 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 12/15/2021 NAP 9/15/2022 12/14/2021 24% No Fee NAP NAP  NAP  NAP 0 Springing 89,199 Springing 0 450 0 600,000 2,251 0 0 0 0 0 336,010 Springing Rent Reduction Reserve (Upfront: $180,350), Debt Service Supplement Reserve (Upfront: $155,660), Significant Tenant Reserve (Monthly: Springing) 0 NAP NAP Hard Springing Yes Yes Yes No 10,000,000 28,000,000 97,231.95 131,957.64 NAP NAP 38,000,000 131,957.64 53.7% 2.00 8.4% NAP NAP NAP NAP NAP NAP NAP No NAP Matthew Stern, Daniel Sachs and WCM-GGG, LLC Matthew Stern, Daniel Sachs and WCM-GGG, LLC No Yes Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
24 Loan   1 Fresenius 1.4% 100.0% BMO BMO NAP NAP 362 4th Avenue Brooklyn Kings NY 11215 Office Medical 1971 2011 15,000 SF 633.33 9,500,000 9,500,000 9,500,000 6.75000% 0.01876% 6.73124% NAP 54,179.69 NAP 650,156.28 Interest Only No Actual/360 120 119 120 119 0 0 5/5/2023 1 6 6/6/2023 NAP 5/6/2033 5/6/2033 0 0 L(25),DorYM1(90),O(5) 478,631 2,817 475,814 12/31/2022 T-12 471,752 14,055 457,697 12/31/2021 T-12 471,754 3,156 468,599 12/31/2020 T-12 100.0% 905,124 0 905,124 0 0 905,124 1.39 1.39 9.5% 9.5% 14,800,000 As Is 3/28/2023 64.2% 64.2% 100.0% 5/5/2023 Yes New York Dialysis Services, Inc. 15,000 100.0% 12/31/2036 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 3/29/2023 NAP 3/31/2023 NAP NAP No Fee NAP NAP  NAP  NAP 0 Springing 12,311 1,759 0 Springing 0 0 Springing 0 213,930 0 0 0 0 0   0 NAP 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 J. Guttman Steven J. Guttman No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
25 Loan   4 Macon GA Portfolio 1.1%   Arbor BMO NAP NAP Various Macon Bibb GA 31204 Multifamily Garden Various NAP 117 Units 64,829.06 7,585,000 7,585,000 7,162,140 6.72300% 0.14251% 6.58049% 49,060.11 43,085.17 588,721.32 517,022.04 Interest Only, Amortizing Balloon No Actual/360 60 55 120 115 360 360 12/30/2022 5 1 2/1/2023 2/1/2028 1/1/2033 1/1/2033 0 0 L(29),D(88),O(3) 1,163,372 366,430 796,941 2/28/2023 T-12 972,847 318,190 654,657 12/31/2022 T-12 NAV NAV NAV NAV NAV 94.0% 1,349,838 525,130 824,707 29,250 0 795,457 1.40 1.35 10.9% 10.5% 11,200,000 As Is 11/1/2022 67.7% 63.9% 100.0% 2/28/2023                                                                  14,268 3,567 50,050 7,150 7,313 2,438 0 0 0 0 0 0 0 52,131 0 0   0 NAP NAP Springing None Yes No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Marvin H. Peavy, Jr. Marvin H. Peavy, Jr. No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
25.01 Property   1 Riviera 0.4% 38.2%         3013 Ridge Avenue Macon Bibb GA 31204 Multifamily Garden 1963, 1966 NAP 40 Units   2,895,627 2,895,627 2,734,197                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         4,275,679 As Is 11/1/2022     100.0% 2/28/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 11/4/2022 NAP 11/4/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
25.02 Property   1 Oak Hill 0.3% 30.3%         3310 Ridge Avenue, 155 Tyrone Boulevard and 163 Tyrone Boulevard Macon Bibb GA 31204 Multifamily Garden 1970 NAP 36 Units   2,294,726 2,294,726 2,166,796                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         3,388,389 As Is 11/1/2022     100.0% 2/28/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 11/4/2022 NAP 11/4/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
25.03 Property   1 Cobblestone 0.2% 17.0%         241 Riley Avenue Macon Bibb GA 31204 Multifamily Garden 1972 NAP 25 Units   1,292,076 1,292,076 1,220,043                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,907,877 As Is 11/1/2022     100.0% 2/28/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 11/4/2022 NAP 11/7/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
25.04 Property   1 Neal Darlington 0.2% 14.5%         2063 and 2073 Vineville Avenue Macon Bibb GA 31204 Multifamily Garden 1963, 1964 NAP 16 Units   1,102,571 1,102,571 1,041,103                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,628,055 As Is 11/1/2022     100.0% 2/28/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 11/4/2022 NAP 11/4/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
26 Loan   1 Holiday Inn Express and Suites - Aiken 1.1% 100.0% UBS AG UBS AG NAP NAP 2897 Whiskey Road Aiken Aiken SC 29803 Hospitality Limited Service 2014 NAP 95 Rooms 77,368.42 7,350,000 7,350,000 7,231,573 7.65000% 0.01876% 7.63124% 52,149.30 47,507.03 625,791.60 570,084.36 Interest Only, Amortizing Balloon No Actual/360 36 34 60 58 360 360 3/24/2023 2 6 5/6/2023 5/6/2026 4/6/2028 4/6/2028 0 0 L(26),D(27),O(7) 3,540,016 2,087,912 1,452,104 2/28/2023 T-12 3,442,342 2,062,217 1,380,124 12/31/2022 T-12 2,751,888 1,755,002 996,886 12/31/2021 T-12 80.8% 3,540,016 2,092,900 1,447,116 141,601 0 1,305,515 2.31 2.09 19.7% 17.8% 13,810,000 As Is 2/1/2023 53.2% 52.4% 80.8% 2/28/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/16/2023 NAP 2/14/2023 NAP NAP No Fee NAP NAP  NAP  NAP 44,846 9,749 14,110 5,427 0 Springing 0 0 0 0 0 0 0 0 1,112,792 12,645 PIP Funds 0 NAP 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 Constantine Christopher Pappas Constantine Christopher Pappas No No Acquisition No                         3/24/2038 125.53 101.37 80.8% 125.53 101.37 80.8% 122.57 98.59 80.4% 98.66 78.68 79.7%
27 Loan   1 Mini U Storage - Springfield 1.1% 100.0% KeyBank KeyBank Group E NAP 7711 Loisdale Road Springfield Fairfax VA 22150 Self Storage Self Storage 1986 NAP 64,185 SF 109.06 7,000,000 7,000,000 7,000,000 6.60000% 0.02751% 6.57249% NAP 39,034.72 NAP 468,416.64 Interest Only No Actual/360 120 119 120 119 0 0 4/5/2023 1 1 6/1/2023 NAP 5/1/2033 5/1/2033 0 0 L(25),YM1(92),O(3)  1,264,382 537,927 726,455 1/31/2023 T-12 1,264,678 541,326 723,352 12/31/2022 T-12 1,210,562 505,675 704,887 12/31/2021 T-12 85.3% 1,264,382 536,181 728,201 6,419 0 721,782 1.55 1.54 10.4% 10.3% 15,450,000 As Is 2/18/2023 45.3% 45.3% 83.8% 3/21/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 2/28/2023 NAP 2/28/2023 NAP NAP No Fee NAP NAP  NAP  NAP 0 16,097 15,071 1,319 535 535 0 0 0 0 0 0 0 0 0 0   0 NAP 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 Dahn Corporation Dahn Corporation No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
28 Loan   1 Quality Inn SeaTac 1.0% 100.0% UBS AG UBS AG Group D NAP 2900 South 192nd Street Seattle King WA 98188 Hospitality Limited Service 1981 2022 102 Rooms 65,071.51 6,650,000 6,637,294 5,851,648 7.32470% 0.01876% 7.30594% 45,702.14 NAP 548,425.68 NAP Amortizing Balloon No Actual/360 0 0 120 117 360 357 3/1/2023 3 6 4/6/2023 4/6/2023 3/6/2033 3/6/2033 0 0 L(27),D(89),O(4) 2,799,229 1,767,580 1,031,649 2/28/2023 T-12 2,678,415 1,692,154 986,261 12/31/2022 T-12 NAV NAV NAV NAV NAV 65.7% 2,799,229 1,681,349 1,117,880 111,969 0 1,005,911 2.04 1.83 16.8% 15.2% 11,100,000 As Is 10/27/2022 59.8% 52.7% 65.7% 2/28/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 11/4/2022 NAP 11/4/2022 11/4/2022 9% No Fee NAP NAP  NAP  NAP 0 7,336 31,493 3,280 0 8,928 0 0 0 0 0 0 0 0 185,000 Springing Seasonality Reserve (Upfront: $175,000; Monthly: Springing), Franchise Reserve (Upfront: $10,000) 0 NAP 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 Binchi Zhang and Tingting Chen Binchi Zhang and Tingting Chen No No Refinance No                         7/27/2041 113.74 74.72 65.7% 113.74 74.72 65.7% 113.69 70.91 62.4% NAV NAV NAV
29 Loan   4 Steiner Portfolio - Chicago 4-Pack 1.0%   Arbor BMO Group C NAP Various Chicago Cook IL 60620 Multifamily Garden Various NAP 75 Units 88,413.33 6,631,000 6,631,000 6,056,267 6.55600% 0.14251% 6.41349% 42,156.94 36,730.52 505,883.28 440,766.24 Interest Only, Amortizing Balloon No Actual/360 36 33 120 117 360 360 2/3/2023 3 1 4/1/2023 4/1/2026 3/1/2033 3/1/2033 5 0 L(27),D(90),O(3) 961,493 159,574 801,919 3/31/2023 T-12 943,500 163,246 780,254 12/31/2022 T-12 873,237 203,320 669,916 12/31/2021 T-12 95.0% 953,443 296,361 657,082 23,550 0 633,532 1.30 1.25 9.9% 9.6% 9,250,000 As Is 8/16/2022 71.7% 65.5% 100.0% 4/1/2023                                                                  63,152 9,022 5,509 2,754 5,887 1,963 0 0 0 0 0 0 0 94,813 0 0   0 NAP NAP Springing None Yes No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Mendel Steiner Mendel Steiner No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
29.01 Property   1 8052 South Laflin Street 0.3% 30.0%         8052 South Laflin Street Chicago Cook IL 60620 Multifamily Garden 1925 NAP 23 Units   1,989,300 1,989,300 1,816,880                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,775,000 As Is 8/16/2022     100.0% 4/1/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/25/2022 NAP 8/25/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
29.02 Property   1 8100 South Justine Street 0.3% 28.1%         8100 South Justine Street Chicago Cook IL 60620 Multifamily Garden 1928 NAP 22 Units   1,863,849 1,863,849 1,702,302                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,600,000 As Is 8/16/2022     100.0% 4/1/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/25/2022 NAP 8/25/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
29.03 Property   1 8154 South Paulina Street 0.2% 23.2%         8154 South Paulina Street Chicago Cook IL 60620 Multifamily Garden 1928 NAP 18 Units   1,541,259 1,541,259 1,407,673                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,150,000 As Is 8/16/2022     100.0% 4/1/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/25/2022 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
29.04 Property   1 8100 South Ada Street 0.2% 18.6%         8100 South Ada Street Chicago Cook IL 60620 Multifamily Garden 1926 NAP 12 Units   1,236,592 1,236,592 1,129,412                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,725,000 As Is 8/16/2022     100.0% 4/1/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/25/2022 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
30 Loan   1 Clarion Inn Huntsville 0.8% 100.0% Ladder Capital BMO NAP NAP 4815 University Drive Northwest Huntsville Madison AL 35816 Hospitality Limited Service 1987 2017-2019 154 Rooms 33,124.10 5,500,000 5,101,111 4,051,961 4.60000% 0.01876% 4.58124% 30,883.81 NAP 370,605.72 NAP Amortizing Balloon No Actual/360 0 0 120 81 300 261 2/19/2020 39 6 4/6/2020 4/6/2020 3/6/2030 3/6/2030 0 0 L(63),D(54),O(3) 3,238,169 2,308,537 929,632 3/31/2023 T-12 3,119,042 2,268,228 850,814 12/31/2022 T-12 2,535,332 1,834,468 700,863 12/31/2021 T-12 63.6% 3,238,169 2,345,682 892,487 129,527 0 762,960 2.41 2.06 17.5% 15.0% 11,300,000 As Stabilized 8/16/2021 45.1% 35.9% 63.6% 3/31/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/28/2019 NAP 8/27/2019 NAP NAP Yes - AE Fee NAP NAP  NAP  NAP 30,551 4,364 17,694 2,949 0 The greater of (i) 1/12th of 4% of Gross Revenues or (ii) 1/12th of Gross Revenue of approved budget 0 0 0 0 0 0 0 0 13,460 Springing Signage Reserve (Upfront: $9,460); Replacement Comfort Reserve (Upfront: $4,000); Seasonality Reserve (Monthly: Springing); PIP Reserve (Monthly: Springing) 0 NAP 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 Nishant Meraiya and Jashiben Patel Nishant Meraiya and Jashiben Patel No No Refinance No                         12/31/2036 90.33 57.42 63.6% 90.33 57.42 63.6% 86.02 55.31 64.3% 78.31 44.87 57.3%
31 Loan   3 Steiner Portfolio - Chicago 3-Pack 0.7%   Arbor BMO Group C NAP Various Chicago Cook IL Various Multifamily Garden Various NAP 49 Units 91,346.94 4,476,000 4,476,000 4,088,049 6.55600% 0.14251% 6.41349% 28,456.41 24,793.52 341,476.92 297,522.24 Interest Only, Amortizing Balloon No Actual/360 36 33 120 117 360 360 2/3/2023 3 1 4/1/2023 4/1/2026 3/1/2033 3/1/2033 5 5 L(27),D(90),O(3) 641,559 121,520 520,039 3/31/2023 T-12 634,922 145,616 489,306 12/31/2022 T-12 619,834 164,760 455,074 12/31/2021 T-12 95.0% 633,901 187,987 445,914 15,484 0 430,430 1.31 1.26 10.0% 9.6% 6,400,000 As Is 8/16/2022 69.9% 63.9% 100.0% 4/1/2023                                                                  38,496 4,812 21,843 2,427 3,871 1,290 0 0 0 0 0 0 0 98,375 0 0   0 NAP NAP Springing None Yes No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Mendel Steiner Mendel Steiner No No Refinance                           NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
31.01 Property   1 7253 South Evans Avenue 0.2% 35.9%         7253 South Evans Avenue Chicago Cook IL 60619 Multifamily Garden 1923 NAP 18 Units   1,608,563 1,608,563 1,469,143                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,300,000 As Is 8/16/2022     100.0% 4/1/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/25/2022 NAP 8/25/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
31.02 Property   1 7801 South Ridgeland Avenue 0.2% 33.6%         7801 South Ridgeland Avenue Chicago Cook IL 60649 Multifamily Garden 1924 NAP 16 Units   1,503,656 1,503,656 1,373,329                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         2,150,000 As Is 8/16/2022     100.0% 4/1/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/25/2022 NAP 8/24/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
31.03 Property   1 7600 South Honore Street 0.2% 30.5%         7600 South Honore Street Chicago Cook IL 60620 Multifamily Garden 1923 NAP 15 Units   1,363,781 1,363,781 1,245,577                                                     NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV NAV         1,950,000 As Is 8/16/2022     100.0% 4/1/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 8/25/2022 NAP 8/25/2022 NAP NAP No Fee NAP NAP  NAP  NAP                                                                                                       No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
32 Loan   1 SureStay Plus SeaTac 0.6% 100.0% UBS AG UBS AG Group D NAP 19260 28th Avenue South SeaTac King WA 98188 Hospitality Limited Service 2006 2021 58 Rooms 73,993.69 4,300,000 4,291,634 3,777,214 7.25750% 0.01876% 7.23874% 29,355.46 NAP 352,265.52 NAP Amortizing Balloon No Actual/360 0 0 120 117 360 357 3/3/2023 3 6 4/6/2023 4/6/2023 3/6/2033 3/6/2033 0 0 L(27),D(89),O(4) 1,952,550 1,326,485 626,065 2/28/2023 T-12 1,897,948 1,242,016 655,932 12/31/2022 T-12 NAV NAV NAV NAV NAV 71.3% 1,952,550 1,235,112 717,437 78,102 0 639,335 2.04 1.81 16.7% 14.9% 7,400,000 As Is 10/27/2022 58.0% 51.0% 71.3% 2/28/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 11/4/2022 NAP 11/4/2022 11/4/2022 7% No Fee NAP NAP  NAP  NAP 0 6,065 23,243 2,421 0 6,326 0 0 0 0 0 0 0 0 1,242,626 Springing QA Reserve (Upfront: $1,182,626.40), Seasonality Reserve (Upfront: $60,000; Monthly: Springing), PIP Reserve (Monthly: Springing) 0 NAP 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 Binchi Zhang and Tingting Chen Binchi Zhang and Tingting Chen No No Refinance No                         12/3/2036 129.33 92.23 71.3% 129.33 92.23 71.3% 131.39 89.65 68.2% NAV NAV NAV
33 Loan   1 Limestone Terrace 0.6% 100.0% Arbor BMO NAP NAP 1260 and 1270 Harvey Mitchell Parkway College Station Brazos TX 77840 Multifamily Garden 2011 NAP 60 Units 64,250.00 3,855,000 3,855,000 3,855,000 6.72000% 0.14251% 6.57749% NAP 21,887.83 NAP 262,653.96 Interest Only No Actual/360 120 115 120 115 0 0 12/28/2022 5 1 2/1/2023 NAP 1/1/2033 1/1/2033 0 0 L(29),D(88),O(3) 839,156 458,381 380,775 3/31/2023 T-12 825,598 460,418 365,179 12/31/2022 T-12 552,622 275,840 276,782 12/31/2021 T-12 92.8% 862,926 482,598 380,329 21,120 0 359,209 1.45 1.37 9.9% 9.3% 7,150,000 As Is 11/1/2022 53.9% 53.9% 91.7% 4/20/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 11/9/2022 NAP 11/9/2022 NAP NAP No Fee NAP NAP  NAP  NAP 19,762 9,881 11,074 5,537 5,280 1,760 0 0 0 0 0 0 0 0 0 0   0 NAP NAP Springing None Yes No No NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP No NAP Bryan Ayres and Cathy Fontana Bryan Ayres and Cathy Fontana No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
34 Loan   1 Richmond Medical Office 0.5% 100.0% BSPRT BSPRT NAP NAP 7110 Forest Avenue  Richmond Henrico VA 23226 Office Medical 1986 2019 31,116 SF 116.50 3,625,000 3,625,000 3,625,000 6.34500% 0.01876% 6.32624% NAP 19,433.40 NAP 233,200.80 Interest Only No Actual/360 120 115 120 115 0 0 12/15/2022 5 6 2/6/2023 NAP 1/6/2033 1/6/2033 0 0 L(29),D(87),O(4) 717,796 217,651 500,145 10/31/2022 T-12 709,165 245,488 463,678 12/31/2021 T-12 577,090 230,321 346,769 12/31/2020 T-12 86.9% 670,006 214,450 455,556 10,891 37,618 407,047 1.95 1.75 12.6% 11.2% 7,050,000 As Is 10/28/2022 51.4% 51.4% 86.4% 4/27/2023 No CRP 14,224 45.7% 3/31/2030 Infusion Solutions 3,545 11.4% 3/31/2030 CCM 3,191 10.3% 8/31/2024 NAI Dominion 2,096 6.7% 5/30/2025 Partners in Pediatrics 1,944 6.2% 8/31/2024 11/9/2022 NAP 11/9/2022 NAP NAP No Fee NAP NAP  NAP  NAP 10,102 2,526 1,172 586 0 908 0 75,000 3,760 300,000 0 0 0 11,438 0 0   0 NAP NAP Springing 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 Colin O'Keeffe and Guy Holbrook IV Colin O'Keeffe and Guy Holbrook IV No No Acquisition No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP
35 Loan   1 Mini U Storage - Landmark 0.4% 100.0% KeyBank KeyBank Group E NAP 500 South Pickett Street Alexandria Alexandria City VA 22304 Self Storage Self Storage 1977 NAP 23,925 SF 97.51 2,333,000 2,333,000 2,333,000 6.63000% 0.02751% 6.60249% NAP 13,068.85 NAP 156,826.20 Interest Only No Actual/360 120 120 120 120 0 0 5/5/2023 0 1 7/1/2023 NAP 6/1/2033 6/1/2033 0 0 L(25),YM1(92),O(3) 583,788 312,736 271,052 3/31/2023 T-12 601,051 311,912 289,139 12/31/2022 T-12 592,207 301,150 291,057 12/31/2021 T-12 68.1% 550,860 321,057 229,803 6,699 0 223,104 1.47 1.42 9.9% 9.6% 6,050,000 As Is 3/29/2023 38.6% 38.6% 78.2% 4/26/2023 NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP 4/5/2023 NAP 4/5/2023 NAP NAP No Fee NAP NAP  NAP  NAP 13,536 6,742 1,171 585 566 566 0 0 0 0 0 0 0 0 0 0   0 NAP 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 Dahn Corporation Dahn Corporation No No Refinance No                         NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP NAP