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CMBS and Special Servicing

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Owned CMBS by Vintage ⁽⁹⁾
$ millions
<::bar chart
Title: Owned CMBS by Vintage
Y-axis: $ millions (values from 0 to 250)
X-axis: Vintage years (11 to 26)

Data Series: Carrying Value
- Vintage 11: 15 $ millions
- Vintage 12: 0 $ millions
- Vintage 13: 65 $ millions
- Vintage 14: 35 $ millions
- Vintage 15: 65 $ millions
- Vintage 16: 50 $ millions
- Vintage 17: 60 $ millions
- Vintage 18: 100 $ millions
- Vintage 19: 195 $ millions
- Vintage 20: 45 $ millions
- Vintage 21: 45 $ millions
- Vintage 22: 45 $ millions
- Vintage 23: 35 $ millions
- Vintage 24: 160 $ millions
- Vintage 25: 140 $ millions
- Vintage 26: 45 $ millions

X-axis categories:
- CMBS 2.0: Vintage years 11, 12, 13, 14
- CMBS 3.0: Vintage years 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26

Legend:
- Carrying Value: [dark blue bar]
: bar chart::> 

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LNR Special Servicer
$ billions

Named SS:
185
CMBS Trusts
$93.6B
Loan Balance

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Named SS Balance over time.

Y-axis: Named SS Balance (values: 50, 100, 150)
X-axis: Quarters from Q2'17 to Q2'26

Data Series: UPB loans named SS
- Q2'17: 72
- Q4'17: 75
- Q2'18: 78
- Q4'18: 85
- Q2'19: 92
- Q4'19: 95
- Q2'20: 80
- Q4'20: 80
- Q2'21: 80
- Q4'21: 98
- Q2'22: 105
- Q4'22: 110
- Q2'23: 100
- Q4'23: 98
- Q2'24: 105
- Q4'24: 100
- Q2'25: 98
- Q4'25: 95
- Q2'26: 93::>

Active SS:
$8.8B
SS Loan Balance
$2.1B
REO Loan Balance
$10.9B
Total Active SS Balance

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NOTE: Carrying value represents estimated fair value

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STARWOOD PROPERTY TRUST

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