Foreclosed Assets

Location	Property Type	Carrying Value
		($ millions)	(per sq ft)
Dallas, Texas	Mixed Use	245	406
Los Angeles, California	Mixed Use	150	131
New York City, New York (a)	Residential (Luxury Co-Op)	106	2,367
Windermere, Florida	Multifamily	85	223
Dallas, Texas	Multifamily	85	176
Phoenix, Arizona	Multifamily	70	229
Boston, Massachusetts	Life Science	56	562
Nashville, Tennessee	Multifamily	39	135
Chicago, Illinois	Retail	33	1,153
Dallas, Texas	Multifamily	28	121
Phoenix, Arizona	Multifamily	23	172
Net Carrying Value of Foreclosed Assets (b)		$ 920

<::pie chart Property Type Mixed Use: 43% Multifamily: 36% Residential: 11% Life Science: 6% Retail: 4%::> <::pie chart::> Location TX: 39% CA: 16% NY: 12% AZ: 10% FL: 9% MA: 6% IL: 4% TN: 4% <::> (a) Sold two units within this asset during the quarter with another two under contract subsequent to quarter end (b) Excludes: (i) two properties that were sold in Q4'24 and Q2'25 but did not qualify as GAAP sales and (ii) a property that is being repositioned and thus included in Property Segment STARWOOD PROPERTY TRUST 19