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"text": "\n\n<::waterfall chart::>\nRepresents $(1.29) GAAP Net (Loss) per basic common share\n\n- GAAP Net (Loss): $(1.22)\n- Series A Preferred Dividend Declaration: $(0.07)\n- Common Stock Dividend Declaration: $(0.05)\n- Equity Compensation, Net: $(0.01)\n- 6/30/2026: $5.70\n<::>",
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"text": "\n\n- Net loan portfolio activity of $(121.8) million in unpaid principal balance, attributed to loan repayments, sales and amortization, of $(129.8) million, partially offset by increases of $8.0 million from fundings",
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"text": "\n\n<::PROPERTY TYPE(11)(12)\n: pie chart::>\n<::\n: pie chart with the following data:\nOffice, 48.6%\nMultifamily, 30.6%\nIndustrial, 9.3%\nHotel, 6.9%\nRetail, 1.2%\nOther, 3.4%::>",
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"text": "\n\n<::bar chart\nTitle: REDUCTION IN OFFICE EXPOSURE(11) ($ in millions, reflects UPB)\n\nData:\n- 2021: $1,723\n- 2022: $1,404\n- 2023: $1,195\n- 2024: $1,004\n- 2025: $748\n- Q2'26: $711\n\nAnnotation: A downward arrow indicates a 59% reduction from 2021 to Q2'26.\n: bar chart::>",
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"text": "\n\nOFFICE PORTFOLIO BY REGION(11)(12)\n<::pie chart\nSoutheast, 32.5%\nNortheast, 29.7%\nWest, 15.8%\nSouthwest, 12.3%\nMidwest, 9.7%\n: pie chart::>\n12",
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"text": "\n\n- Since 2021, reduced the office exposure by $(1.0) billion, or about 59%, primarily through repayments, paydowns and proactive loan resolutions\n- Granular office portfolio across 13 MSAs and 11 States\n- 53% CBD locations, 47% suburban locations\n- 34% Top 5 markets, 66% secondary markets\n- Average unpaid principal balance $37.4 million\n- Weighted average Stabilized LTV at Origination of 67.0%\n- 5-rated office exposure in Minneapolis and San Diego\n- No office exposure in Washington DC, Downtown LA, San Francisco Bay Area, Chicago, Portland or Seattle",
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"text": "\n\n<::An aerial view of a large complex of multi-story brick buildings, likely an old mill or factory, with numerous windows and a tall smokestack. The complex is surrounded by dense green trees and smaller residential or commercial buildings. In the background, a body of water (possibly a river or lake) is visible, reflecting the sky. The overall scene suggests an industrial area integrated into a natural landscape.: photo::>",
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"text": "\n\n# Miami Beach, FL\n\n* Property: 140,000 square foot, Class \"A\" office building with ground floor retail space and a 499-space parking garage\n* Carrying Value(5): $54.9 million\n* Strategy: Improve operating performance and expected sale in late 2026",
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"text": "\n\n## Maynard, MA\n\n* Property: 1,050,000 square foot, \"brick and beam\" office campus with 130 self storage units, 13 buildings, situated on 53 acres\n* Carrying Value(4): $35.8 million\n* Strategy: Improve operating performance and evaluate for eventual sale",
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"text": "\n\nFUNDING MIX\n<::pie chart showing funding mix:\n- CLOs: largest segment\n- Repurchase Facilities: second largest segment\n- Secured Credit Facility: third largest segment\n- Mortgage Payable: small segment\n- Participations Sold: smallest segment\n: pie chart::>",
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