{ "markdown": "Watch List Migrations Quarter-over-Quarter\n\n\nIn 2Q'26, KREF had three risk rating downgrades, including one new addition to the watch list, two resolutions and one loan\nreclassified as held-for-sale\n\n\n
Flowchart: Watch List Activity 1Q'26 to 2Q'26. \n\nThis flowchart tracks the movement of assets between two quarterly watch lists, categorized by risk ratings. 1. Directory of Nodes (Blocks) [HEADER_1Q] (Dark Blue Rectangle): \"1Q'26 Watch List\" [HEADER_ACTIVITY] (Grey Rectangle): \"Intra-Quarter Activity\" [HEADER_2Q] (Dark Purple Rectangle): \"2Q'26 Watch List\" [TOTAL_1Q_R5] (Grey Bar): \"Total Principal: $704 million\" [RISK_R5] (Grey Bar): \"Risk Rating: 5\" [TOTAL_2Q_R5] (Grey Bar): \"Total Principal: $674 million\" [BLS_1Q_R5] (Blue Box): \"Boston Life Science\" [MINN_1Q_R5] (Blue Box): \"Minneapolis Office\" [SD_1Q_R5] (Blue Box): \"San Diego Multifamily\" [BLS_1Q_REO] (Blue Box): \"Boston Life Science\" [TOTAL_1Q_R4] (Grey Bar): \"Total Principal: $284 million\" [RISK_R4] (Grey Bar): \"Risk Rating: 4\" [TOTAL_2Q_R4] (Grey Bar): \"Total Principal: $42 million\" [CHI_1Q_R4] (Blue Box): \"Chicago Office\" [CARR_1Q_R4] (Blue Box): \"Carrollton Multifamily\" [BLS_2Q_R5] (Purple Box): \"Boston Life Science\" [MINN_2Q_R5] (Purple Box): \"Minneapolis Office\" [SD_2Q_R5] (Purple Box): \"San Diego Multifamily\" [CHI_2Q_R5] (Purple Box): \"Chicago Office\" [CARR_2Q_R5] (Purple Box): \"Carrollton Multifamily\" [DALL_2Q_R4] (Purple Box): \"Dallas Multifamily\" 2. Connections and Annotations [BLS_1Q_REO] ----> (annotation: \"transferred to REO\") [BLS_1Q_REO] ----> [CHI_2Q_R5] [BLS_1Q_REO] ----> [CARR_2Q_R5] [CHI_1Q_R4] ----> [DALL_2Q_R4] [CARR_1Q_R4] ----> [DALL_2Q_R4] (annotation: \"downgraded from risk-rated 3 to risk-rated 4\")
\n\nChicago Office\nCarrollton Multifamily\nGeorgetown Multifamily } repaid\nPhiladelphia Office\n} reclassified as held-for-sale\n\n\nKREF\n\n\n12\n\n", "structure": { "type": "document", "markdown": null, "children": [ { "type": "page", "page": null, "span": null, "width": null, "height": null, "dpi": null, "grounding": { "page": 1, "range": { "start": 0, "end": 1905 }, "box": { "xmin": 0.0, "ymin": 0.0, "xmax": 1.0, "ymax": 1.0 } }, "markdown": null, "status": "ok", "reason": null, "children": [ { "type": "text", "id": "text-0", "span": null, "grounding": { "page": 1, "range": { "start": 0, "end": 43 }, "box": { "xmin": 0.05468, "ymin": 0.0519, "xmax": 0.76717, "ymax": 0.1115 } }, "atomic_grounding": [ { "page": 1, "range": { "start": 0, "end": 43 }, "box": { "xmin": 0.05906, "ymin": 0.05743, "xmax": 0.76569, "ymax": 0.1101 } } ], "markdown": null, "children": null, "row": null, "col": null, "colspan": null, "rowspan": null }, { "type": "text", "id": "text-1", "span": null, "grounding": { "page": 1, "range": { "start": 45, "end": 199 }, "box": { "xmin": 0.05431, "ymin": 0.13945, "xmax": 0.90448, "ymax": 0.20142 } }, "atomic_grounding": [ { "page": 1, "range": { "start": 45, "end": 169 }, "box": { "xmin": 0.0585, "ymin": 0.14425, "xmax": 0.90108, "ymax": 0.1711 } }, { "page": 1, "range": { "start": 169, "end": 199 }, "box": { "xmin": 0.05973, "ymin": 0.17442, "xmax": 0.24977, "ymax": 0.19812 } } ], "markdown": null, "children": null, "row": null, "col": null, "colspan": null, "rowspan": null }, { "type": "figure", "id": "figure-0", "span": null, "grounding": { "page": 1, "range": { "start": 201, "end": 1767 }, "box": { "xmin": 0.05506, "ymin": 0.21568, "xmax": 0.95134, "ymax": 0.74151 } }, "atomic_grounding": [ { "page": 1, "range": { "start": 201, "end": 1767 }, "box": { "xmin": 0.05506, "ymin": 0.21568, "xmax": 0.95134, "ymax": 0.74151 } } ], "markdown": null, "children": null, "row": null, "col": null, "colspan": null, "rowspan": null }, { "type": "text", "id": "text-2", "span": null, "grounding": { "page": 1, "range": { "start": 1769, "end": 1891 }, "box": { "xmin": 0.05472, "ymin": 0.65804, "xmax": 0.50575, "ymax": 0.88339 } }, "atomic_grounding": [ { "page": 1, "range": { "start": 1769, "end": 1784 }, "box": { "xmin": 0.05846, "ymin": 0.66533, "xmax": 0.3472, "ymax": 0.71376 } }, { "page": 1, "range": { "start": 1784, "end": 1807 }, "box": { "xmin": 0.05881, "ymin": 0.72022, "xmax": 0.34723, "ymax": 0.76864 } }, { "page": 1, "range": { "start": 1807, "end": 1839 }, "box": { "xmin": 0.05919, "ymin": 0.77398, "xmax": 0.39977, "ymax": 0.82233 } }, { "page": 1, "range": { "start": 1839, "end": 1859 }, "box": { "xmin": 0.05891, "ymin": 0.82751, "xmax": 0.34799, "ymax": 0.87826 } }, { "page": 1, "range": { "start": 1859, "end": 1891 }, "box": { "xmin": 0.34708, "ymin": 0.8352, "xmax": 0.50197, "ymax": 0.87328 } } ], "markdown": null, "children": null, "row": null, "col": null, "colspan": null, "rowspan": null }, { "type": "logo", "id": "logo-0", "span": null, "grounding": { "page": 1, "range": { "start": 1893, "end": 1898 }, "box": { "xmin": 0.05458, "ymin": 0.93679, "xmax": 0.15012, "ymax": 0.97686 } }, "atomic_grounding": [ { "page": 1, "range": { "start": 1893, "end": 1898 }, "box": { "xmin": 0.05945, "ymin": 0.94232, "xmax": 0.1442, "ymax": 0.97067 } } ], "markdown": null, "children": null, "row": null, "col": null, "colspan": null, "rowspan": null }, { "type": "marginalia", "id": "marginalia-0", "span": null, "grounding": { "page": 1, "range": { "start": 1900, "end": 1903 }, "box": { "xmin": 0.92895, "ymin": 0.95247, "xmax": 0.94616, "ymax": 0.9731 } }, "atomic_grounding": [ { "page": 1, "range": { "start": 1900, "end": 1903 }, "box": { "xmin": 0.93253, "ymin": 0.95681, "xmax": 0.94231, "ymax": 0.96773 } } ], "markdown": null, "children": null, "row": null, "col": null, "colspan": null, "rowspan": null } ] } ] }, "grounding": null, "metadata": { "req_id": null, "job_id": "parse-01m38pm87h0n3z839k7sea8405", "model_version": "dpt-3-pro-20260710", "page_count": 1, "markdown_chars": null, "output_markdown_chars": 1952, "range_units": "unicode_codepoints", "openapi_spec": "https://api.ade.landing.ai/openapi.json", "failed_pages": [], "duration_ms": 8024, "billing": { "service_tier": "standard", "total_credits": 1.0 } } }