[
  {
    "page_no": 1,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "Franklin BSP ",
        "box": [
          600.74,
          314.77,
          762.2661200000002,
          339.56131465517245
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Realty Trust",
        "box": [
          609.98,
          345.97,
          755.3613199999999,
          370.76131465517244
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "First Quarter 2026",
        "box": [
          641.57,
          289.42,
          755.8415600000004,
          302.78674568965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Supplemental Information",
        "box": [
          545.59,
          379.33000000000004,
          755.9200000000002,
          396.46685344827586
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "BSP",
        "box": [
          88.90775553385417,
          122.12044270833333,
          238.81502278645834,
          193.72200520833334
        ],
        "from_ocr": true,
        "confidence": 0.99649
      },
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          105.2540283203125,
          186.56184895833334,
          228.8477783203125,
          197.30208333333334
        ],
        "from_ocr": true,
        "confidence": 0.99075
      },
      {
        "text": "by Franklin Templeton",
        "box": [
          131.56753540039062,
          199.68880208333334,
          230.0438435872396,
          212.81575520833334
        ],
        "from_ocr": true,
        "confidence": 0.99994
      }
    ]
  },
  {
    "page_no": 2,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          751.9,
          589.218,
          756.42652,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Important Information",
        "box": [
          34.872,
          39.601999999999975,
          273.67056,
          62.47398706896547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The information herein relates to the Company's business and financial information as of March 31, 2026 and does not reflect ",
        "box": [
          36.528,
          85.42999999999995,
          547.3050000000004,
          93.99842672413786
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "subsequent developments. ",
        "box": [
          547.56,
          85.42999999999995,
          659.0000000000003,
          93.99842672413786
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk Factors ",
        "box": [
          36.528,
          107.012,
          89.164992,
          115.60327586206893
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investing in and owning our common stock involves a high degree of risk. For a discussion of these risks, see the section entitl",
        "box": [
          36.528,
          117.86000000000001,
          546.849,
          126.42842672413792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ed 'Risk Factors' in our Annual Report on Form 10",
        "box": [
          546.84,
          117.86000000000001,
          749.3309999999987,
          126.42842672413792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          749.45,
          117.86000000000001,
          753.509,
          126.42842672413792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "K filed with the SEC on February 25, 2026, and the risk disclosures in our subsequent periodic reports filed with the SEC, including our Quarterly Report on Form 10-Q for the ",
        "box": [
          36.528,
          128.66000000000003,
          731.324,
          137.22842672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "quarter ended March 31, 2026. ",
        "box": [
          36.528,
          139.45999999999998,
          162.3030000000001,
          148.0284267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Forward-Looking Statements",
        "box": [
          36.528,
          161.06,
          154.956,
          169.6284267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Certain statements included in this presentation are forward-looking statements. Those statements include statements regarding the intent, belief or current expectations of ",
        "box": [
          36.528,
          171.86,
          735.7519999999992,
          180.42842672413792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Franklin BSP Realty Trust, Inc. ('FBRT' or the 'Company') and may include the assumptions on which such statements are based,",
        "box": [
          36.528,
          182.66000000000003,
          560.0039999999997,
          191.22842672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " and generally are identified by the use of words ",
        "box": [
          560.3,
          182.66000000000003,
          755.503999999999,
          191.22842672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "such as \"may,\" \"will,\" \"seeks,\" \"anticipates,\" \"believes,\" \"estimates,\" \"expects,\" \"plans,\" \"intends,\" \"should\" or similar expressions. Actual results may differ materially from those ",
        "box": [
          36.528,
          193.45999999999998,
          741.5909999999992,
          202.0284267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "contemplated by such forward-looking statements. Factors that could cause actual outcomes to differ materially from our forward-looking statements include macroeconomic ",
        "box": [
          36.528,
          204.26,
          746.8459999999986,
          212.8284267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "factors in the United States including inflation, changing interest rates and economic contraction, impairments in the value of real estate property securing our loans or that we ",
        "box": [
          36.528,
          215.06,
          744.5099999999986,
          223.6284267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "own, the extent of any recoveries on delinquent loans, and the financial stability of our borrowers, and the other factors set forth in the risk factors section of our most recent Form ",
        "box": [
          36.528,
          225.86,
          758.0939999999986,
          234.42842672413792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10-K and Form 10-Q. The extent to which these factors impact us and our borrowers will depend on future developments, which are highly uncertain and cannot be predicted with ",
        "box": [
          36.528,
          236.68,
          756.8179999999987,
          245.24842672413791
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "confidence.  Further, forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise forward-looking statements to ",
        "box": [
          36.528,
          247.48000000000002,
          734.2939999999995,
          256.0484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, except as required by law.",
        "box": [
          36.528,
          258.28,
          620.3599999999998,
          266.8484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Additional Important Information",
        "box": [
          36.528,
          279.88,
          169.67399999999992,
          288.4484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The summary information provided in this presentation does not purport to be complete and no obligation to update or otherwise revise such information is being assumed. ",
        "box": [
          36.528,
          290.68,
          732.430999999999,
          299.2484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Nothing shall be relied upon as a promise or representation as to the future performance of the Company. This summary is not an offer to sell securities and is not soliciting an ",
        "box": [
          36.528,
          301.48,
          745.2229999999992,
          310.0484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "offer to buy securities in any jurisdiction where the offer or sale is not permitted. This summary is not advice, a recommendation or an offer to enter into any transaction with us or ",
        "box": [
          36.528,
          312.28,
          758.2319999999987,
          320.8484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "any of our affiliated funds. There is no guarantee that any of the goals, targets or objectives described in this summary will be achieved.",
        "box": [
          36.528,
          323.08,
          583.419,
          331.6484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The information contained herein is not intended to provide, and should not be relied upon for, accounting, legal, ERISA or tax advice or investment recommendations. Investors ",
        "box": [
          36.528,
          344.68,
          746.498999999999,
          353.2484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "should also seek advice from their own independent tax, accounting, financial, ERISA, investment and legal advisors to properly assess the merits and risks associated with their ",
        "box": [
          36.528,
          355.462,
          751.2545279999991,
          364.053275862069
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "investment in light of their own financial condition and other circumstances.  The information contained herein is qualified in its entirety by reference to our most recent Annual ",
        "box": [
          36.528,
          366.31,
          745.5359999999989,
          374.87842672413797
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Report on Form 10-K and Quarterly Report on Form 10-Q.  You may obtain a copy of the most recent Annual Report or Quarterly Report by calling (844) 785-4393 and/or visiting ",
        "box": [
          36.528,
          377.11,
          750.5269999999997,
          385.6784267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "www.fbrtreit.com.",
        "box": [
          36.528,
          387.90999999999997,
          109.402,
          396.47842672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "This presentation contains information regarding FBRT's financial results that is calculated and presented on the basis of me",
        "box": [
          36.528,
          409.51,
          541.8959999999998,
          418.0784267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "thodologies other than in accordance with ",
        "box": [
          542.28,
          409.51,
          714.9919999999988,
          418.0784267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "accounting principles generally accepted in the United States ('GAAP'), including Distributable Earnings. Please refer to the",
        "box": [
          36.528,
          420.31,
          533.4539999999997,
          428.87842672413797
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " appendix for the reconciliation of the applicable GAAP ",
        "box": [
          533.76,
          420.31,
          755.669999999999,
          428.87842672413797
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "financial measures to non-GAAP financial measures.",
        "box": [
          36.528,
          431.11,
          250.45,
          439.6784267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "PAST PERFORMANCE IS NOT A GUARANTEE OR INDICATIVE OF FUTURE RESULTS. INVESTMENTS INVOLVE SIGNIFICANT RISKS, INCLUDING LOSS OF THE ENTIRE ",
        "box": [
          36.528,
          452.71000000000004,
          701.5820000000001,
          461.27842672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "INVESTMENT.  ",
        "box": [
          36.528,
          463.51,
          98.601,
          472.0784267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "There is no guarantee that any of the estimates, targets or projections illustrated in this summary will be achieved. Any refere",
        "box": [
          98.592,
          463.51,
          603.1699999999998,
          472.0784267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "nces herein to any of the Company's ",
        "box": [
          603.14,
          463.51,
          752.6749999999992,
          472.0784267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "past or present investments, portfolio characteristics, or performance, have been provided for illustrative purposes only. It should not be assumed that these investments were or ",
        "box": [
          36.528,
          474.31,
          753.5699999999986,
          482.87842672413797
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "will be profitable or that any future investments will be profitable or will equal the performance of these investments.  There can be no guarantee that the investment objective of ",
        "box": [
          36.528,
          485.092,
          750.6289919999994,
          493.68327586206897
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "the Company will be achieved. Any investment entails a risk of loss. An investor could lose all or substantially all of his or her investment. Please refer to our most recent Annual ",
        "box": [
          36.528,
          495.93,
          749.7509999999988,
          504.49842672413797
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Report on Form 10-K and Quarterly Report on Form 10-Q for a more complete list of risk factors. The following slides contain summaries of certain financial information about the ",
        "box": [
          36.528,
          506.73,
          758.1859999999992,
          515.2984267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Company. The information contained in this presentation is summary information that is intended to be considered in the context of our filings with the Securities and Exchange ",
        "box": [
          36.528,
          517.53,
          749.1499999999991,
          526.0984267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commission and other public announcements that we may make, by press release or otherwise, from time to time.",
        "box": [
          36.528,
          528.33,
          497.5979999999998,
          536.898426724138
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 3,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "FBRT 1Q 2026 ",
        "box": [
          487.92,
          308.18,
          729.4080000000002,
          342.45370689655175
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Financial Update",
        "box": [
          448.32,
          351.38,
          720.192,
          385.65370689655174
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "01",
        "box": [
          563.0,
          407.0,
          732.6666666666666,
          553.6666666666666
        ],
        "from_ocr": true,
        "confidence": 0.99982
      }
    ]
  },
  {
    "page_no": 4,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          751.9,
          589.218,
          756.42652,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1Q 2026 Highlights",
        "box": [
          34.872,
          39.74000000000001,
          242.20800000000003,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.",
        "box": [
          36.12,
          540.06,
          41.45668,
          546.2292672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fully Converted assumes conversion of our series of convertible preferred stock and Class A units in FBRT OP LLC, our operating ",
        "box": [
          46.104,
          540.06,
          422.76359999999994,
          546.2292672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "partnership ('OP Units'), along with full vesting of our outstanding equity compensation awards.",
        "box": [
          422.95,
          540.06,
          704.1236800000012,
          546.2292672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.",
        "box": [
          36.12,
          549.9,
          41.45668,
          556.0692672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Please see appendix for GAAP net income to Distributable Earnings calculation.",
        "box": [
          46.104,
          549.9,
          277.70567999999986,
          556.0692672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.",
        "box": [
          36.12,
          559.74,
          41.45668,
          565.9092672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Adjusted for the impact of accumulated depreciation and amortization of real property of $18.5 million and $17.5 million at 3/31/26 and 12/31/25, respectively, as well as for the impact of the fair value of our MSRs over their carrying value of ",
        "box": [
          46.104,
          559.74,
          748.6362400000014,
          565.9092672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$19.2 million as of 3/31/26.",
        "box": [
          46.104,
          567.54,
          126.43664,
          573.7092672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4.",
        "box": [
          36.12,
          577.284,
          41.45668,
          583.4532672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cash excludes restricted cash. Total liquidity amount includes the cash available we can invest at a market advance rate utilizing our available capacity on financing lines.",
        "box": [
          46.104,
          577.284,
          543.7720000000002,
          583.4532672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FBRT 1Q 2026 Financial Update",
        "box": [
          35.496,
          23.379999999999995,
          192.13152000000002,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Earnings",
        "box": [
          46.776,
          95.74000000000001,
          101.8128,
          109.10674568965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          202.68,
          95.22232000000008,
          206.376,
          104.69388154696134
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP Net Income of ",
        "box": [
          216.24,
          94.99000000000001,
          314.69088,
          105.0436206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$12.3 million ",
        "box": [
          314.78,
          94.99000000000001,
          379.39664000000016,
          105.0436206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "or ",
        "box": [
          379.1,
          94.99000000000001,
          391.42352000000005,
          105.0436206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.07 ",
        "box": [
          391.34,
          94.99000000000001,
          421.30928000000006,
          105.0436206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "per diluted common share or ",
        "box": [
          421.22,
          94.99000000000001,
          559.5348800000002,
          105.0436206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.08 ",
        "box": [
          559.49,
          94.99000000000001,
          589.4592799999999,
          105.0436206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "per fully converted share  (1)",
        "box": [
          589.37,
          94.56999999999994,
          716.87776,
          105.0436206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          202.68,
          113.82231999999999,
          206.376,
          123.2938815469613
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings before realized losses  (2)  of ",
        "box": [
          216.24,
          113.58999999999997,
          451.2056,
          123.64362068965517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$25.9 million ",
        "box": [
          451.22,
          113.58999999999997,
          516.1323200000002,
          123.64362068965517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "or ",
        "box": [
          515.69,
          113.58999999999997,
          528.0135200000001,
          123.64362068965517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.22 ",
        "box": [
          527.93,
          113.58999999999997,
          557.8992799999999,
          123.64362068965517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "per fully converted share  (1)",
        "box": [
          557.81,
          113.16999999999996,
          685.19776,
          123.64362068965517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          202.68,
          132.40484800000002,
          206.3844,
          141.89793582320442
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings  (2)  of ",
        "box": [
          216.24,
          132.17200000000003,
          345.725864,
          142.24846982758623
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.5 million ",
        "box": [
          345.74,
          132.17200000000003,
          410.5140799999999,
          142.24846982758623
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "or",
        "box": [
          410.18,
          132.17200000000003,
          419.884412,
          142.24846982758623
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " $0.09 ",
        "box": [
          419.9,
          132.17200000000003,
          452.41505600000005,
          142.24846982758623
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "per fully converted share  (1) . Distributable Earnings includes ",
        "box": [
          452.3,
          132.17200000000003,
          734.6315119999995,
          142.24846982758623
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$12.3 million of realized losses within the quarter, of which $4.7 million was recognized in GAAP this quarter and ",
        "box": [
          216.24,
          144.82,
          747.1738399999997,
          154.87362068965518
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$7.6 million was recognized in GAAP in previous quarters",
        "box": [
          216.24,
          157.41999999999996,
          485.18784000000016,
          167.47362068965515
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          202.68,
          176.25232,
          206.376,
          185.7238815469613
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Declared a Q1 2026 cash dividend of ",
        "box": [
          216.24,
          176.01999999999998,
          390.8918400000002,
          186.07362068965517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.20 ",
        "box": [
          390.98,
          176.01999999999998,
          420.9492800000001,
          186.07362068965517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "per share, representing an annualized yield of 5.6% on fully-converted ",
        "box": [
          420.86,
          176.01999999999998,
          751.0098399999999,
          186.07362068965517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "book value per share  (1)",
        "box": [
          216.24,
          188.2,
          325.26775999999995,
          198.6736206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Capitalization",
        "box": [
          46.776,
          224.65000000000003,
          133.96439999999996,
          238.01674568965518
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          202.68,
          224.13232,
          206.376,
          233.6038815469613
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fully-converted book value per share is ",
        "box": [
          216.24,
          223.89999999999998,
          404.0553600000001,
          233.95362068965517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$14.18 ",
        "box": [
          404.06,
          223.89999999999998,
          440.0273600000001,
          233.95362068965517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "vs. $14.15 in Q4 2025  (1) . Undepreciated fully-converted book ",
        "box": [
          439.94,
          223.89999999999998,
          730.0223199999998,
          233.95362068965517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "value per share is ",
        "box": [
          216.24,
          236.5,
          301.57536,
          246.5536206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$14.58 ",
        "box": [
          301.46,
          236.5,
          337.4273600000001,
          246.5536206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "vs. $14.34 in Q4 2025  (1) (3)",
        "box": [
          337.34,
          236.07999999999998,
          460.85911999999996,
          246.5536206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          202.68,
          255.33231999999998,
          206.376,
          264.8038815469613
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net debt to equity is ",
        "box": [
          216.24,
          255.09999999999997,
          313.32288,
          265.15362068965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.8x; ",
        "box": [
          313.22,
          255.09999999999997,
          339.2398400000001,
          265.15362068965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "recourse net debt to equity is ",
        "box": [
          339.14,
          255.09999999999997,
          478.71943999999996,
          265.15362068965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.2x",
        "box": [
          478.61,
          255.09999999999997,
          499.1069600000001,
          265.15362068965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          202.68,
          273.914848,
          206.3844,
          283.4079358232044
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "61% ",
        "box": [
          216.24,
          273.682,
          238.69924800000004,
          283.7584698275862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of financing sources are non-mark-to-market on our core book",
        "box": [
          238.56,
          273.682,
          535.862312,
          283.7584698275862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          202.68,
          292.55232,
          206.376,
          302.0238815469613
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$521 million ",
        "box": [
          216.24,
          292.32,
          277.99488000000014,
          302.3736206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of liquidity of which $116 million is cash and $3 million is CLO reinvest/ramp available  (4)",
        "box": [
          277.56,
          291.9,
          693.47776,
          302.3736206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          202.68,
          311.15232,
          206.376,
          320.6238815469613
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repurchased ",
        "box": [
          216.24,
          310.91999999999996,
          281.17343999999997,
          320.97362068965515
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$39.8 million ",
        "box": [
          280.92,
          310.91999999999996,
          345.7056000000002,
          320.97362068965515
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of common stock with a weighted average price of $9.13, which resulted in ",
        "box": [
          345.26,
          310.91999999999996,
          699.31192,
          320.97362068965515
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.24 ",
        "box": [
          699.31,
          310.91999999999996,
          729.2792799999999,
          320.97362068965515
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of ",
        "box": [
          729.19,
          310.91999999999996,
          741.2956000000001,
          320.97362068965515
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "accretion to fully-converted book value per share  (1)",
        "box": [
          216.24,
          323.09999999999997,
          458.34775999999994,
          333.5736206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investments",
        "box": [
          46.776,
          359.55,
          124.79627999999998,
          372.91674568965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          202.68,
          359.03232,
          206.376,
          368.50388154696134
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Core Portfolio: ",
        "box": [
          216.24,
          358.8,
          287.45664,
          368.85362068965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Principal balance increased by ",
        "box": [
          287.18,
          358.8,
          433.47823999999997,
          368.85362068965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$173 million",
        "box": [
          433.34,
          358.8,
          492.53936000000016,
          368.85362068965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " in the quarter. Closed ",
        "box": [
          492.53,
          358.8,
          598.09736,
          368.85362068965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$468 million",
        "box": [
          597.89,
          358.8,
          657.0893599999999,
          368.85362068965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " of new loan ",
        "box": [
          657.07,
          358.8,
          716.57464,
          368.85362068965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "commitments and funded ",
        "box": [
          216.24,
          371.4,
          340.2883200000001,
          381.45362068965517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$496 million ",
        "box": [
          340.34,
          371.4,
          402.09488000000016,
          381.45362068965517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of principal balance including future funding on existing loans. Received ",
        "box": [
          401.78,
          371.4,
          743.3959999999993,
          381.45362068965517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "loan repayments of $323 million",
        "box": [
          216.24,
          384.0,
          367.86048000000005,
          394.0536206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          202.68,
          402.83232,
          206.376,
          412.30388154696135
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Agency Business:",
        "box": [
          216.24,
          402.6,
          299.70624000000004,
          412.6536206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Originated ",
        "box": [
          299.78,
          402.6,
          353.76176000000004,
          412.6536206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$646 million ",
        "box": [
          353.42,
          402.6,
          415.0587200000002,
          412.6536206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of new loan commitments under programs with Fannie Mae, Freddie ",
        "box": [
          414.74,
          402.6,
          738.0660799999997,
          412.6536206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mac, and HUD",
        "box": [
          216.24,
          415.182,
          283.52248800000007,
          425.2584698275862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Portfolio",
        "box": [
          46.776,
          451.25,
          101.70047999999997,
          464.6167456896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          202.68,
          450.73231999999996,
          206.376,
          460.2038815469613
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Core Portfolio ",
        "box": [
          216.24,
          450.5,
          284.4576,
          460.5536206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of ",
        "box": [
          284.16,
          450.5,
          296.28288000000003,
          460.5536206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "177 ",
        "box": [
          296.3,
          450.5,
          316.92956000000004,
          460.5536206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CRE loans and ",
        "box": [
          316.94,
          450.5,
          387.36080000000004,
          460.5536206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4.6 billion ",
        "box": [
          387.38,
          450.5,
          442.8833600000002,
          460.5536206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of principal balance, average size of $26 million and 79% ",
        "box": [
          442.46,
          450.5,
          710.85224,
          460.5536206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "multifamily. One asset was removed from the watch list. Eleven assets remain on the watch list, four of which are ",
        "box": [
          216.24,
          463.1,
          749.9635200000001,
          473.1536206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "risk rated a five and seven of which are risk rated a four",
        "box": [
          216.24,
          475.70000000000005,
          476.2377600000001,
          485.7536206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          202.68,
          494.53232,
          206.376,
          504.00388154696134
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "REO portfolio ",
        "box": [
          216.24,
          494.3,
          281.69088000000005,
          504.35362068965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of",
        "box": [
          281.4,
          494.3,
          290.89822,
          504.35362068965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          290.9,
          494.3,
          293.52943999999997,
          504.35362068965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "six foreclosure positions (vs. seven in Q4 2025) totaling ",
        "box": [
          293.54,
          494.3,
          557.52968,
          504.35362068965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$208 million ",
        "box": [
          557.33,
          494.3,
          618.96872,
          504.35362068965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and one investment real ",
        "box": [
          618.65,
          494.3,
          734.8205599999999,
          504.35362068965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "estate owned position of ",
        "box": [
          216.24,
          506.904,
          335.23008,
          516.9576206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$116 million",
        "box": [
          335.3,
          506.904,
          394.3832000000002,
          516.9576206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 5,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5",
        "box": [
          751.9,
          589.218,
          756.42652,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Income Statement",
        "box": [
          16.934156312837803,
          70.75418245669505,
          78.65576522030308,
          77.80253480620831
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Balance Sheet - Assets (End of Quarter)",
        "box": [
          434.2272082503578,
          70.75418245669505,
          568.2832248764023,
          77.80253480620831
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net interest income ",
        "box": [
          16.934156382265606,
          88.28846262919501,
          84.13620572300088,
          95.33681497870828
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1)",
        "box": [
          84.40671960157287,
          85.85314593857004,
          91.28806353457986,
          91.04666872242183
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                             $27.6",
        "box": [
          325.41357024047994,
          87.50916128819506,
          397.0408998258037,
          94.55751363770833
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total core portfolio",
        "box": [
          434.22720831669994,
          87.50916128819506,
          497.95584338283595,
          94.55751363770833
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       $4,546.8",
        "box": [
          702.14512633973,
          87.50916128819506,
          772.5695655141667,
          94.55751363770833
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Operating expenses ",
        "box": [
          16.934156448700293,
          105.06682050092502,
          85.29894788135911,
          112.11517285043828
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1), (2)",
        "box": [
          85.57608818150754,
          102.63150381030005,
          101.78353579918156,
          107.82502659415195
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                              (14.3)",
        "box": [
          325.41357030691466,
          104.28751915992507,
          399.6341694656769,
          111.33587150943822
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans held-for-sale",
        "box": [
          434.22720838313467,
          104.28751915992507,
          500.7404996694184,
          111.33587150943822
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           423.0",
        "box": [
          702.1451264061648,
          104.28751915992507,
          772.595681477403,
          111.33587150943822
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(Provision) / Benefit for credit loss ",
        "box": [
          16.934156515104128,
          121.83738535924499,
          133.91934179157047,
          128.88573770875826
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1)",
        "box": [
          134.3231636806814,
          119.40206866862002,
          141.2045076136884,
          124.59559145247192
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                              (13.5)",
        "box": [
          325.41357037331846,
          121.05808401824504,
          399.63416953208076,
          128.1064363677582
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total real estate securities",
        "box": [
          434.22720844953847,
          121.05808401824504,
          522.1216234261611,
          128.1064363677582
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           178.7",
        "box": [
          702.1451264725686,
          121.05808401824504,
          772.5956815438068,
          128.1064363677582
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NewPoint",
        "box": [
          16.934156578453138,
          137.83644188997505,
          49.02435714333292,
          144.8847942394882
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                 2.8",
        "box": [
          325.8033599442532,
          137.83644188997505,
          397.0475264466534,
          144.8847942394882
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mortgage servicing rights",
        "box": [
          434.2272085159732,
          137.83644188997505,
          520.5589573690552,
          144.8847942394882
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           211.9",
        "box": [
          702.1451265390033,
          137.83644188997505,
          772.5956816102415,
          144.8847942394882
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other income/(loss)",
        "box": [
          16.93415664788094,
          155.370722062475,
          83.99549197749175,
          162.41907441198828
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " (1)",
        "box": [
          84.0169303626882,
          152.93540537185004,
          92.0660836511772,
          158.12892815570194
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                 9.7",
        "box": [
          325.8033600105953,
          154.59142072147506,
          397.04752651299555,
          161.6397730709882
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cash and restricted cash",
        "box": [
          434.2272085823153,
          154.59142072147506,
          517.0188891555283,
          161.6397730709882
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           136.4",
        "box": [
          702.1451266053454,
          154.59142072147506,
          772.5956816765836,
          161.6397730709882
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP net income (loss)",
        "box": [
          16.93415671119909,
          171.36198557979503,
          96.5634750344034,
          178.41033792930818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                            $12.3",
        "box": [
          326.1931495814991,
          171.36198557979503,
          396.72789918570936,
          178.41033792930818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real estate owned",
        "box": [
          434.2272086487191,
          171.36198557979503,
          494.86754147070144,
          178.41033792930818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           329.0",
        "box": [
          702.1451266717493,
          171.36198557979503,
          772.5956817429874,
          178.41033792930818
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NewPoint adjustments to GAAP net income (loss) ",
        "box": [
          16.934156780719462,
          188.919644792525,
          183.7987560005283,
          195.96799714203826
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3)",
        "box": [
          184.25519947274674,
          186.48432810190002,
          191.13654340575374,
          191.6778508857518
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                 2.8",
        "box": [
          325.80336014343385,
          188.14034345152504,
          397.04752664583407,
          195.1886958010382
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other assets",
        "box": [
          434.22720871515384,
          188.14034345152504,
          476.23404406401806,
          195.1886958010382
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           475.2",
        "box": [
          702.1451267381839,
          188.14034345152504,
          772.5956818094221,
          195.1886958010382
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other adjustments to GAAP net income (loss) ",
        "box": [
          16.934156847123297,
          205.69020965084508,
          170.15690298844117,
          212.73856200035823
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3)",
        "box": [
          170.58917951138056,
          203.25489296022,
          177.4705234443876,
          208.4484157440719
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                               10.8",
        "box": [
          325.41357070533763,
          204.910908309845,
          397.0405105011569,
          211.95926065935828
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total assets",
        "box": [
          434.22720878155764,
          204.910908309845,
          475.38976006367517,
          211.95926065935828
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                     $6,301.0",
        "box": [
          702.5349163090877,
          204.910908309845,
          772.2440917427668,
          211.95926065935828
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings before realized gain/(loss)",
        "box": [
          16.934156913465415,
          222.4451884823451,
          182.88041206067217,
          229.49354083185824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          183.47562060382117,
          221.86071247659504,
          185.51382995369767,
          229.65099665237278
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3)",
        "box": [
          185.42456811899268,
          220.00987179172,
          192.30591205199968,
          225.2033945755719
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                            $25.9",
        "box": [
          326.19314978067973,
          221.66588714134502,
          396.72789938489,
          228.7142394908583
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Realized gain/(loss) adjustments to GAAP net income (loss)",
        "box": [
          16.934156979900106,
          239.22354635407498,
          216.68880479991444,
          246.27189870358825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " (3)",
        "box": [
          216.99751804992738,
          236.78822966345,
          225.04667133841636,
          241.98175244730191
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                              (12.3)",
        "box": [
          325.4135708381145,
          238.44424501307503,
          399.6341699968767,
          245.49259736258819
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Balance Sheet - Debt & Equity",
        "box": [
          434.2272089143345,
          238.44424501307503,
          534.889568900359,
          245.49259736258819
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings",
        "box": [
          16.93415704630394,
          255.99411121239507,
          91.94953700474174,
          263.0424635619082
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          92.20251036293969,
          255.40963520664502,
          94.24071971281619,
          263.19991938242276
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3)",
        "box": [
          94.15145787811119,
          253.55879452177004,
          101.0328018111182,
          258.7523173056219
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                            $13.5",
        "box": [
          326.19314991351825,
          255.21480987139506,
          396.72789951772853,
          262.26316222090827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Collateralized loan obligations",
        "box": [
          434.2272089807383,
          255.21480987139506,
          535.3561470036495,
          262.26316222090827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       $2,637.3",
        "box": [
          702.1451270037684,
          255.21480987139506,
          772.569566178205,
          262.26316222090827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Warehouse - Core",
        "box": [
          434.227209047173,
          271.993167743125,
          494.5194598416367,
          279.0415200926382
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                        1,151.2",
        "box": [
          702.1451270702031,
          271.993167743125,
          772.5847680353153,
          279.0415200926382
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP net income (loss) per share, fully converted ",
        "box": [
          16.934157179142463,
          289.54303394244505,
          184.4949204539883,
          296.5913862919582
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(4)",
        "box": [
          185.03477888010804,
          287.092131225,
          191.91612281311504,
          292.2856540088519
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.08",
        "box": [
          378.07413309524514,
          288.748146574625,
          397.04090062261884,
          295.79649892413823
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Warehouse - NewPoint",
        "box": [
          434.22720911351513,
          288.748146574625,
          511.0570592154002,
          295.79649892413823
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           344.1",
        "box": [
          702.1451271365452,
          288.748146574625,
          772.5956822077834,
          295.79649892413823
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP return on common equity",
        "box": [
          16.934157242398904,
          305.518711432945,
          123.00289765583821,
          312.56706378245826
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.1%",
        "box": [
          383.53118622464893,
          305.518711432945,
          399.4540875113822,
          312.56706378245826
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repo - securities",
        "box": [
          434.22720917991893,
          305.518711432945,
          491.3867217267162,
          312.56706378245826
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           212.2",
        "box": [
          702.1451272029491,
          305.518711432945,
          772.5956822741872,
          312.56706378245826
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP dividend coverage, fully converted ",
        "box": [
          16.934157311919275,
          323.07637064567507,
          154.5376482184176,
          330.1247229951882
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3), (4)",
        "box": [
          154.99759979617653,
          320.64105395505004,
          171.20504741385054,
          325.8345767389019
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "40.7%",
        "box": [
          379.24350174158366,
          322.297069304675,
          399.4470713667359,
          329.3454216541882
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Asset specific financings",
        "box": [
          434.22720924635365,
          322.297069304675,
          517.8557678857278,
          329.3454216541882
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                               36.9",
        "box": [
          701.3655482603837,
          322.297069304675,
          772.6026985517029,
          329.3454216541882
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unsecured debt",
        "box": [
          434.22720931275745,
          339.067634162995,
          487.28379753518766,
          346.11598651250824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           185.7",
        "box": [
          702.1451273357876,
          339.067634162995,
          772.5956824070257,
          346.11598651250824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings per share, fully converted",
        "box": [
          16.934157444757798,
          356.62529337572505,
          179.78470434722564,
          363.6736457252382
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " (3), (4)",
        "box": [
          180.3339177214225,
          354.16659764487,
          197.7091746945785,
          359.36012042872187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.09",
        "box": [
          377.29455435192216,
          355.845992034725,
          396.72789991618237,
          362.89434438423825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total debt",
        "box": [
          434.2272093791922,
          355.845992034725,
          468.31703010215693,
          362.89434438423825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                     $4,567.4",
        "box": [
          702.5349169067222,
          355.845992034725,
          772.2440923404014,
          362.89434438423825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings return on common equity ",
        "box": [
          16.93415751109992,
          373.380272207225,
          180.99188250900428,
          380.4286245567382
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3)",
        "box": [
          181.50328630135718,
          370.9449555166,
          188.3846302343642,
          376.1384783004518
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.6%",
        "box": [
          383.1413969857643,
          372.600970866225,
          399.50865830762757,
          379.6493232157382
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Preferred equity ",
        "box": [
          434.22720944861993,
          373.380272207225,
          489.74999586602183,
          380.4286245567382
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(5)",
        "box": [
          490.0060875329272,
          370.9449555166,
          496.88743146593424,
          376.1384783004518
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           348.5",
        "box": [
          702.1451274685644,
          372.600970866225,
          772.5956825398026,
          379.6493232157382
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings dividend coverage, fully converted ",
        "box": [
          16.93415757750375,
          390.15083706554503,
          211.69716100289114,
          397.1991894150582
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3), (4)",
        "box": [
          212.32004459353104,
          387.71552037492,
          228.52749221120504,
          392.90904315877185
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "45.2%",
        "box": [
          378.8537125026681,
          389.371535724545,
          399.5016421629504,
          396.41988807405824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Common stock/retained earnings ",
        "box": [
          434.2272095150238,
          390.15083706554503,
          548.5166105783684,
          397.1991894150582
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(6)",
        "box": [
          548.879894359011,
          387.71552037492,
          555.761238292018,
          392.90904315877185
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                        1,221.3",
        "box": [
          702.1451275349682,
          389.371535724545,
          772.5847685000804,
          396.41988807405824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings per share before realized gain/(loss), fully converted",
        "box": [
          16.93415764393844,
          406.92919493727504,
          270.7896397410301,
          413.9775472867882
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " (3), (4)",
        "box": [
          271.5992325043257,
          404.49387824665,
          288.97448947748177,
          409.68740103050186
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.22",
        "box": [
          377.2945545511028,
          406.14989359627504,
          396.727900115363,
          413.19824594578824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total equity ",
        "box": [
          434.22720958145845,
          406.92919493727504,
          476.1377669227114,
          413.9775472867882
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(5), (6)",
        "box": [
          476.3400676379957,
          404.49387824665,
          492.5475152556698,
          409.68740103050186
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                     $1,569.8",
        "box": [
          702.5349171059029,
          406.14989359627504,
          772.2440925395821,
          413.19824594578824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings return on common equity before realized gain/(loss) ",
        "box": [
          16.93415771035153,
          423.702097699618,
          271.99681790287985,
          430.7504500491312
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3)",
        "box": [
          272.7686010841617,
          421.247298475468,
          279.64994501716865,
          426.4408212593198
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.2%",
        "box": [
          383.1413971850159,
          422.92279635861803,
          399.5086585068792,
          429.9711487081312
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book value per share, fully converted",
        "box": [
          434.2272096478716,
          423.702097699618,
          558.9738835379422,
          430.7504500491312
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          559.4042111206874,
          423.11762169386805,
          561.4424204705639,
          430.9079058696458
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(4)",
        "box": [
          561.3765460060516,
          421.247298475468,
          568.2578899390587,
          426.4408212593198
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$14.18",
        "box": [
          748.569057653766,
          422.92279635861803,
          772.2830715564451,
          429.9711487081312
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings dividend coverage before realized gain/(loss), fully converted",
        "box": [
          16.934157776693652,
          440.457076531118,
          300.75431824271834,
          447.5054288806312
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          301.6364118611794,
          439.872600525368,
          303.6746212110559,
          447.6628847011458
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3), (4)",
        "box": [
          303.58535937635094,
          438.021759840493,
          319.79280699402494,
          443.21528262434487
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "109.8%",
        "box": [
          374.566028152358,
          439.67777519011804,
          399.4946261510593,
          446.7261275396312
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net debt/total equity",
        "box": [
          434.2272097775473,
          456.45223655514303,
          504.5175613624364,
          463.5005889046562
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.82x  ",
        "box": [
          752.0771633270273,
          456.45223655514303,
          774.9246751612031,
          463.5005889046562
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dividend per share",
        "box": [
          16.934157906446497,
          473.226697920168,
          79.91478691344679,
          480.2750502696812
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.200",
        "box": [
          373.78644927619655,
          473.226697920168,
          397.0338851419893,
          480.2750502696812
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net debt/total equity ex. NewPoint",
        "box": [
          434.22720984396653,
          473.226697920168,
          550.7828470864742,
          480.2750502696812
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.60x  ",
        "box": [
          752.0771633934465,
          473.226697920168,
          774.9246752276224,
          480.2750502696812
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dividend per share yield on book value",
        "box": [
          16.934157972866068,
          490.00123721532714,
          146.79837826751685,
          497.0495895648403
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.6%",
        "box": [
          383.5311869551161,
          490.00123721532714,
          399.4540882418494,
          497.0495895648403
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Recourse net debt/total equity",
        "box": [
          434.2272099103861,
          490.00123721532714,
          537.1854300779158,
          497.0495895648403
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.16x  ",
        "box": [
          752.0771634598661,
          490.00123721532714,
          774.924675294042,
          497.0495895648403
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Financial Highlights",
        "box": [
          34.872,
          39.74000000000001,
          249.192,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: All numbers in millions except per share and share data. ",
        "box": [
          36.12,
          510.70799999999997,
          218.42831999999976,
          516.8772672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.",
        "box": [
          36.12,
          520.548,
          41.45668,
          526.7172672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Excludes NewPoint.",
        "box": [
          46.104,
          520.548,
          103.75663999999999,
          526.7172672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.",
        "box": [
          36.12,
          530.268,
          41.45668,
          536.4372672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Does not include real estate owned operating income which is reported under Other income / (loss).",
        "box": [
          46.104,
          530.268,
          336.74496000000005,
          536.4372672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.",
        "box": [
          36.12,
          540.108,
          41.45668,
          546.2772672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Please see appendix for the detail on the adjustments from GAAP net income to Distributable Earnings.",
        "box": [
          46.104,
          540.108,
          346.40664,
          546.2772672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4.",
        "box": [
          36.12,
          549.948,
          41.45668,
          556.1172672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fully Converted assumes conversion of our series of convertible preferred stock and OP Units along with full vesting of our outstanding equity compensation awards.",
        "box": [
          46.104,
          549.948,
          528.71176,
          556.1172672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.",
        "box": [
          36.12,
          559.668,
          41.45668,
          565.8372672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Includes $90 million of preferred equity that converts to common equity on 1/21/28, subject to the holder's right to accelerate the conversion. These amounts are reflected as temporary equity on the consolidated balance sheets. The remaining ",
        "box": [
          46.104,
          559.668,
          756.5250400000011,
          565.8372672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$259 million of preferred equity represents the Series E preferred, which is not convertible into common equity.",
        "box": [
          46.104,
          567.468,
          367.6675199999999,
          573.6372672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.",
        "box": [
          36.12,
          577.308,
          41.45668,
          583.4772672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Includes non-controlling interest.",
        "box": [
          46.104,
          577.308,
          143.64263999999994,
          583.4772672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FBRT 1Q 2026 Financial Update",
        "box": [
          35.496,
          23.379999999999995,
          192.13152000000002,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 6,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6",
        "box": [
          751.9,
          589.218,
          756.42652,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$29.0",
        "box": [
          73.0920145387143,
          142.1598025238,
          94.14785875193274,
          149.92380257219764
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$26.7",
        "box": [
          158.26156817169735,
          158.5707202340975,
          179.3923066939094,
          166.35628694929625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$17.9",
        "box": [
          243.44475567528806,
          202.06435265009748,
          264.5016678596943,
          209.84991936529627
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.5",
        "box": [
          328.60976479225724,
          224.16342197480003,
          349.6656090054757,
          231.92742202319766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2Q'25",
        "box": [
          72.97840182465424,
          309.85946959445,
          94.47597703416271,
          317.6234696428476
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3Q'25",
        "box": [
          158.14341078015423,
          309.85946959445,
          179.64098598966268,
          317.6234696428476
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4Q'25",
        "box": [
          243.3084197356542,
          309.85946959445,
          264.80599494516275,
          317.6234696428476
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1Q'26",
        "box": [
          328.47342869115425,
          309.85946959445,
          350.0282653261077,
          317.6234696428476
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$25.9 (2)",
        "box": [
          328.4734276142161,
          162.24049546919753,
          358.12348463711004,
          170.2525915198962
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$28.4 (2)",
        "box": [
          158.4887959433254,
          143.70020200520003,
          188.16657476739337,
          151.69530835573624
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$27.7 (2)",
        "box": [
          243.58109205243036,
          153.92120562295997,
          273.2097896545642,
          161.9117350068576
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$25.1 (2)",
        "box": [
          73.18290583197047,
          161.3343781271975,
          102.82841829728937,
          169.34647417789625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Earnings & Distributions",
        "box": [
          34.872,
          39.74000000000001,
          295.27200000000005,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: All numbers in millions except per share data.  ",
        "box": [
          36.12,
          547.86,
          189.6571199999998,
          554.0292672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.",
        "box": [
          36.12,
          557.7,
          41.45668,
          563.8692672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Please see appendix for the detail on the adjustments from GAAP net income to Distributable Earnings.",
        "box": [
          46.104,
          557.7,
          346.40664,
          563.8692672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.",
        "box": [
          36.12,
          567.54,
          41.45668,
          573.7092672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable earnings before realized gain/(loss).",
        "box": [
          46.104,
          567.54,
          190.60151999999988,
          573.7092672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.",
        "box": [
          36.12,
          577.284,
          41.45668,
          583.4532672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fully Converted assumes conversion of our series of convertible preferred stock and OP Units along with full vesting of our outstanding equity compensation awards.",
        "box": [
          46.104,
          577.284,
          528.71176,
          583.4532672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FBRT 1Q 2026 Financial Update",
        "box": [
          35.496,
          23.379999999999995,
          192.13152000000002,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings ($M)  (1)",
        "box": [
          36.168,
          84.77999999999997,
          224.46784,
          98.83674568965512
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP Net Income (Loss) ($M)",
        "box": [
          404.88,
          85.47000000000003,
          593.7882000000002,
          98.83674568965512
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$24.4",
        "box": [
          441.2171443151234,
          170.71101078137002,
          462.2740574205467,
          178.51063327305246
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$17.6",
        "box": [
          526.3639792115525,
          203.98016571007054,
          547.4208923169759,
          211.77978820175292
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$18.4",
        "box": [
          611.5017203492805,
          200.21299656533307,
          632.5586334547039,
          208.0126190570155
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$12.3",
        "box": [
          696.6485548295827,
          230.16317943787732,
          717.7043999612672,
          237.94119633110859
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2Q'25",
        "box": [
          441.05810221900606,
          309.6426136952564,
          462.6400026154934,
          317.4422362237852
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3Q'25",
        "box": [
          526.2003883866311,
          309.6426196709879,
          547.7822887831185,
          317.4422421995167
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4Q'25",
        "box": [
          611.3381299966811,
          309.6426256464005,
          632.8708128346311,
          317.44224817147494
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1Q'26",
        "box": [
          696.4849607218812,
          309.64263162245095,
          717.9930347805625,
          317.44225414579824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2Q'25",
        "box": [
          66.32440533789021,
          361.2551526483437,
          91.81384402930223,
          370.6741804603944
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3Q'25",
        "box": [
          150.96684251255022,
          361.2551526483437,
          176.45628120396216,
          370.6741804603944
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4Q'25",
        "box": [
          235.6241196913902,
          361.2551526483437,
          261.1135583828021,
          370.6741804603944
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1Q'26",
        "box": [
          320.2616101979902,
          361.2551526483437,
          345.75104888940206,
          370.6741804603944
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.355",
        "box": [
          61.87240464626981,
          390.9404191552237,
          92.19194316484791,
          400.3594469672744
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.355",
        "box": [
          146.5148418209298,
          390.9404191552237,
          176.83438033950785,
          400.3594469672744
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.355",
        "box": [
          231.1523323275298,
          390.9404191552237,
          261.4718708461078,
          400.3594469672744
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.200",
        "box": [
          315.8096095063698,
          390.9404191552237,
          346.1291480249478,
          400.3594469672744
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dividend per share",
        "box": [
          376.6833066527298,
          390.9404191552237,
          458.0709848223927,
          400.3594469672744
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.27",
        "box": [
          64.84040604502331,
          420.64542320632376,
          89.71492442989674,
          430.06445101837437
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.22",
        "box": [
          149.4729498835633,
          420.64542320632376,
          174.34746826843667,
          430.06445101837437
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.12",
        "box": [
          234.1203337262833,
          420.64542320632376,
          258.99485211115666,
          430.06445101837437
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.09",
        "box": [
          318.7776109051233,
          420.64542320632376,
          343.65212928999665,
          430.06445101837437
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable earnings per share, fully converted ",
        "box": [
          376.68330722483137,
          421.13886181182374,
          587.392693087346,
          430.55788962387436
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1), (3)",
        "box": [
          587.5597665776672,
          418.76542211936874,
          605.5509715614119,
          424.8960112937957
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.23",
        "box": [
          64.84040660721595,
          450.32082094109376,
          89.71492499208937,
          459.7398487531443
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.23",
        "box": [
          149.47295044575594,
          450.32082094109376,
          174.3474688306293,
          459.7398487531443
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.22",
        "box": [
          234.12033428847593,
          450.32082094109376,
          258.99485267334927,
          459.7398487531443
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.22",
        "box": [
          318.7776114673159,
          450.32082094109376,
          343.65212985218926,
          459.7398487531443
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable earnings per share before realized gain/(loss), fully converted ",
        "box": [
          376.68330778702403,
          450.81425954659375,
          704.1184531278094,
          460.23328735864436
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1), (3)",
        "box": [
          704.3703867092607,
          448.4704261704687,
          722.3615916930054,
          454.6010153448957
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "76%",
        "box": [
          69.78707522950205,
          480.0011530619188,
          87.92000231546417,
          489.42018087396934
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "61%",
        "box": [
          154.41961906804204,
          480.0011530619188,
          172.55254615400412,
          489.42018087396934
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "34%",
        "box": [
          239.08678958300203,
          480.0011530619188,
          257.2197166689641,
          489.42018087396934
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "45%",
        "box": [
          323.724280089602,
          480.0011530619188,
          341.8572071755641,
          489.42018087396934
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable dividend coverage, fully converted ",
        "box": [
          376.68330834931015,
          480.4945916674187,
          585.4189983892251,
          489.9136194794694
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1), (3)",
        "box": [
          585.5811004787068,
          478.15075829129376,
          603.5723054624515,
          484.2813474657207
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "64%",
        "box": [
          69.78707579225556,
          509.7061571130188,
          87.92000287821769,
          519.1251849250693
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "66%",
        "box": [
          154.41961963079558,
          509.7061571130188,
          172.55254671675763,
          519.1251849250693
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "63%",
        "box": [
          239.08679014575554,
          509.7061571130188,
          257.2197172317176,
          519.1251849250693
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "110%",
        "box": [
          320.7562798163555,
          509.7061571130188,
          344.3306159683385,
          519.1251849250693
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable dividend coverage before realized gain/(loss), fully converted ",
        "box": [
          376.68330891206364,
          510.19959571851876,
          702.1447584302493,
          519.6186235305694
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1), (3)",
        "box": [
          702.391720609833,
          507.8310904121188,
          720.3829255935776,
          513.9616795865456
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 7,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7",
        "box": [
          751.9,
          589.218,
          756.42652,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1Q 2026 ($M)",
        "box": [
          36.12,
          104.75200000000001,
          123.51369599999998,
          118.14159482758623
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Core Net Fundings",
        "box": [
          34.872,
          39.74000000000001,
          233.83200000000002,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: All numbers in millions. ",
        "box": [
          36.12,
          567.468,
          123.23063999999995,
          573.6372672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.",
        "box": [
          36.12,
          577.308,
          41.45668,
          583.4772672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Includes full paydowns, dispositions, partial paydowns, non-REO related charge-offs and amortization.",
        "box": [
          46.104,
          577.308,
          345.9615199999999,
          583.4772672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FBRT 1Q 2026 Financial Update",
        "box": [
          35.496,
          23.379999999999995,
          192.13152000000002,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$462 ",
        "box": [
          252.22108852027853,
          192.54365324200506,
          275.2707495822481,
          201.58059340979077
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$34 ",
        "box": [
          389.690596070941,
          188.41415460040503,
          407.56952906326904,
          197.45109476819079
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($323)",
        "box": [
          518.8324476600972,
          238.59903392540502,
          546.2544155456605,
          247.63597409319073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,436 ",
        "box": [
          111.46072135119749,
          247.245171706255,
          146.88304012935043,
          257.1011698952902
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,609 ",
        "box": [
          650.8918500088503,
          226.219141122775,
          686.1794043319712,
          236.07513931181018
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4Q25 Loans",
        "box": [
          102.27158506540688,
          440.76666950562503,
          152.03984282546935,
          449.80360967341073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Outstanding",
        "box": [
          102.27158517678069,
          451.979405400525,
          154.1689662596367,
          461.0163455683107
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fundings on",
        "box": [
          236.9786079833069,
          440.76666950562503,
          288.0300427459458,
          449.80360967341073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "New Loans",
        "box": [
          239.56305321568067,
          451.979405400525,
          285.928515665207,
          461.0163455683107
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fundings on",
        "box": [
          372.3116409416269,
          440.76666950562503,
          423.36307570426584,
          449.80360967341073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Existing Loans",
        "box": [
          367.1427508110007,
          451.979405400525,
          428.94435735078065,
          461.0163455683107
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repayments\u00b9",
        "box": [
          505.1865794287372,
          440.709315357825,
          560.2871505106178,
          449.7462555256107
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1Q26 Loans",
        "box": [
          641.7027139319068,
          440.76666950562503,
          691.470971691969,
          449.80360967341073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Outstanding",
        "box": [
          641.7027140432807,
          451.979405400525,
          693.6000951261362,
          461.0163455683107
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total",
        "box": [
          253.2089216235867,
          267.643174371325,
          274.6902552379628,
          276.6801145391107
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commitment of",
        "box": [
          230.77593808473748,
          278.861645681005,
          296.9213364036096,
          287.89858584879073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$468M",
        "box": [
          248.8670540430543,
          290.068646161125,
          278.7793358150998,
          299.10558632891076
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 8,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8",
        "box": [
          751.9,
          589.218,
          756.42652,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Capitalization Overview",
        "box": [
          34.872,
          39.74000000000001,
          288.16800000000006,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.",
        "box": [
          36.12,
          559.668,
          41.45668,
          565.8372672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "On our core book (excluding repo-securities and NewPoint), 61% of financings are non-mark-to-market.",
        "box": [
          46.104,
          559.668,
          349.0527200000001,
          565.8372672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.",
        "box": [
          36.12,
          569.508,
          41.45668,
          575.6772672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net leverage represents (i) total outstanding borrowings under secured financing arrangements, including collateralized loan obligations, repurchase agreements - commercial mortgage loans, repurchase agreements - real estate securities, ",
        "box": [
          46.104,
          569.508,
          746.6471199999999,
          575.6772672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "asset-specific financing arrangements, and unsecured debt, less cash and cash equivalents, to (ii) total equity and total redeemable convertible preferred stock, at period end. Recourse net leverage excludes collateralized loan obligations.",
        "box": [
          46.104,
          577.308,
          738.586480000001,
          583.4772672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FBRT 1Q 2026 Financial Update",
        "box": [
          35.496,
          23.379999999999995,
          192.13152000000002,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Financing Sources  (1)",
        "box": [
          19.992,
          104.41000000000003,
          151.41783999999998,
          118.46674568965517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net Leverage  (2)",
        "box": [
          404.35,
          104.41000000000003,
          502.41784,
          118.46674568965517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Average debt cost including financing was 6.0% in 1Q26 vs. 6.5% in 4Q25",
        "box": [
          35.256,
          67.45000000000005,
          493.38120000000004,
          80.81674568965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Collateralized Loan ",
        "box": [
          261.653575536919,
          389.42283791188,
          354.9805018883622,
          399.4013822703731
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Obligations, ",
        "box": [
          274.16426227180006,
          401.92533020156134,
          332.25907831689443,
          411.90387014323977
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "57%",
        "box": [
          332.6439839966201,
          401.92533753277405,
          352.42295026896437,
          411.90387267104995
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Warehouse, ",
        "box": [
          44.98805201478635,
          250.40434730549327,
          102.59487140671033,
          260.406645597087
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "33%",
        "box": [
          79.98402700747397,
          262.93054973174026,
          99.76299327981832,
          272.9090848700161
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unsecured Debt, ",
        "box": [
          183.15475578634988,
          176.40633945420672,
          263.23563077596424,
          186.38488215213073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4%",
        "box": [
          183.15475593692318,
          188.8651588007317,
          196.91154396830132,
          198.8674515951394
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repo - Securities, ",
        "box": [
          231.6498914660441,
          194.18558608140347,
          316.76923829739803,
          204.18788782205934
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5%",
        "box": [
          231.64989161731108,
          206.70180209191847,
          245.38818320235544,
          216.6803364729152
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Asset ",
        "box": [
          285.586626673227,
          213.27123137333228,
          314.664412860056,
          223.27352608843137
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Specific ",
        "box": [
          285.5866268243884,
          225.77871310889225,
          325.6460850166067,
          235.78100920069033
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Financings, ",
        "box": [
          285.5866269754292,
          238.27621281593224,
          342.1999800344832,
          248.27851098298174
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1%",
        "box": [
          285.58662713262265,
          251.28279597749224,
          299.34341516400076,
          261.28508877189995
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.16x  ",
        "box": [
          528.9719365263506,
          323.96546233715856,
          564.705889843745,
          335.49351868910674
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.84x  ",
        "box": [
          669.5938392625322,
          185.36464323264062,
          705.2308869466331,
          196.89269958146946
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.00x",
        "box": [
          431.0090507668461,
          431.9110413753322,
          457.6279235750151,
          442.2891667404316
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.50x",
        "box": [
          431.0090470440412,
          390.6629558159322,
          457.6279198522102,
          401.04108118103164
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.00x",
        "box": [
          431.00904332123633,
          349.41487025653225,
          457.6279161294053,
          359.79299562163163
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.50x",
        "box": [
          431.0090396004755,
          308.18943188898044,
          457.6302987978921,
          318.5388089868208
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.00x",
        "box": [
          431.0090358776706,
          266.9413463295804,
          457.63029507508725,
          277.29072342742086
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.50x",
        "box": [
          431.00903215486574,
          225.69326077018042,
          457.63029135228237,
          236.04263786802085
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.00x",
        "box": [
          431.00902842783654,
          184.39837101421222,
          457.6279012360055,
          194.77649637931165
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Recourse Net Leverage",
        "box": [
          487.0137415941253,
          445.89190328776465,
          599.5741667248278,
          456.2700314193336
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Net Leverage",
        "box": [
          638.0209924774502,
          445.89189908816303,
          730.0365775401851,
          456.2700265583909
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 9,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9",
        "box": [
          751.9,
          589.218,
          756.42652,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Financing Lines",
        "box": [
          34.872,
          39.74000000000001,
          204.648,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.",
        "box": [
          36.12,
          557.676,
          41.45668,
          563.8452672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Outstanding balance as of March 31, 2026 and net of tranches held by FBRT.",
        "box": [
          46.104,
          557.676,
          269.96672,
          563.8452672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.",
        "box": [
          36.12,
          567.516,
          41.45668,
          573.6852672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cost of debt is shown before discount and transaction costs.",
        "box": [
          46.104,
          567.516,
          224.25215999999975,
          573.6852672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.",
        "box": [
          36.12,
          577.356,
          41.45668,
          583.5252672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Capacity for loans.  Excludes bond repurchase agreements.",
        "box": [
          46.104,
          577.356,
          219.29951999999983,
          583.5252672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FBRT 1Q 2026 Financial Update",
        "box": [
          35.496,
          23.379999999999995,
          192.13152000000002,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLOs",
        "box": [
          31.752,
          92.74000000000001,
          65.15316,
          106.10674568965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Warehouse/Revolver/Other",
        "box": [
          404.66,
          92.74000000000001,
          574.9230800000005,
          106.10674568965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLO Name",
        "box": [
          37.416,
          137.53999999999996,
          84.93516,
          147.0223922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Debt Amount (1)",
        "box": [
          185.11,
          136.96999999999997,
          252.53392,
          147.0223922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Reinvest",
        "box": [
          277.87,
          125.53999999999996,
          316.47496,
          135.0223922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "End Date",
        "box": [
          276.67,
          137.53999999999996,
          316.53988,
          147.0223922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cost of ",
        "box": [
          353.69,
          125.53999999999996,
          388.47032,
          135.0223922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Debt (2)",
        "box": [
          356.69,
          136.96999999999997,
          386.06391999999994,
          147.0223922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "BSPRT 2022-FL8",
        "box": [
          37.416,
          162.262,
          114.819264,
          171.76724137931035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$289 million",
        "box": [
          197.11,
          162.262,
          252.44132799999997,
          171.76724137931035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Ended",
        "box": [
          288.91,
          162.262,
          316.545712,
          171.76724137931035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S   + 2.24%",
        "box": [
          343.25,
          162.262,
          386.0039839999999,
          171.76724137931035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "BSPRT 2023-FL10",
        "box": [
          37.416,
          188.46999999999997,
          120.47627999999997,
          197.9523922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$535 million",
        "box": [
          197.11,
          188.46999999999997,
          252.3880000000001,
          197.9523922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Ended",
        "box": [
          288.91,
          188.46999999999997,
          316.52908000000014,
          197.9523922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S + 2.70%",
        "box": [
          342.29,
          188.46999999999997,
          385.87496,
          197.9523922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "BSPRT 2024-FL11",
        "box": [
          37.416,
          214.64999999999998,
          120.47627999999997,
          224.1323922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$886 million",
        "box": [
          197.11,
          214.64999999999998,
          252.3880000000001,
          224.1323922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10/8/27",
        "box": [
          280.15,
          214.64999999999998,
          316.43428000000006,
          224.1323922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S + 1.99%",
        "box": [
          342.29,
          214.64999999999998,
          385.87496,
          224.1323922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "BSPRT 2025-FL12",
        "box": [
          37.416,
          240.82999999999998,
          120.47627999999997,
          250.3123922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$947 million",
        "box": [
          197.11,
          240.82999999999998,
          252.3880000000001,
          250.3123922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5/8/28",
        "box": [
          285.79,
          240.82999999999998,
          316.4468800000001,
          250.3123922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S + 1.61%",
        "box": [
          342.29,
          240.82999999999998,
          385.87496,
          250.3123922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total",
        "box": [
          37.416,
          267.02,
          60.32399999999999,
          276.5023922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2,657 million",
        "box": [
          187.87,
          267.02,
          252.34107999999998,
          276.5023922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLO",
        "box": [
          37.416,
          293.17999999999995,
          56.071079999999995,
          302.6623922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "reinvestment available",
        "box": [
          37.416,
          305.17999999999995,
          138.5598,
          314.6623922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$3 million",
        "box": [
          208.27,
          299.17999999999995,
          252.41272000000004,
          308.6623922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repo ",
        "box": [
          37.416,
          331.35999999999996,
          62.714400000000005,
          340.8423922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          62.736,
          331.35999999999996,
          69.61836,
          340.8423922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Securities ",
        "box": [
          69.576,
          331.35999999999996,
          118.95827999999997,
          340.8423922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(outstanding)",
        "box": [
          37.416,
          343.35999999999996,
          97.88315999999999,
          352.8423922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$212 million",
        "box": [
          197.11,
          337.35999999999996,
          252.3880000000001,
          346.8423922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Name",
        "box": [
          410.33,
          137.53999999999996,
          436.6144400000001,
          147.0223922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Capacity  (3)",
        "box": [
          708.98,
          136.96999999999997,
          759.0939199999999,
          147.0223922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "JP Morgan",
        "box": [
          410.33,
          162.262,
          459.2615839999999,
          171.76724137931035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$750 million",
        "box": [
          703.7,
          162.262,
          759.0313280000001,
          171.76724137931035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Barclays (Warehouse) ",
        "box": [
          410.33,
          188.46999999999997,
          510.7467200000002,
          197.9523922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$500 million",
        "box": [
          703.7,
          188.46999999999997,
          758.978,
          197.9523922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Atlas SP Partners",
        "box": [
          410.33,
          214.64999999999998,
          488.94428,
          224.1323922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$350 million",
        "box": [
          703.7,
          214.64999999999998,
          758.978,
          224.1323922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Wells Fargo",
        "box": [
          410.33,
          240.82999999999998,
          462.7793600000001,
          250.3123922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$250 million",
        "box": [
          703.7,
          240.82999999999998,
          758.978,
          250.3123922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Barclays (Secured Revolver)",
        "box": [
          410.33,
          267.02,
          535.8857600000001,
          276.5023922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$100 million",
        "box": [
          703.7,
          267.02,
          758.978,
          276.5023922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "BAML Line of Credit (NewPoint)",
        "box": [
          410.33,
          293.17999999999995,
          551.4466,
          302.6623922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$500 million",
        "box": [
          703.7,
          293.17999999999995,
          758.978,
          302.6623922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fifth Third Warehouse Line of Credit (NewPoint)",
        "box": [
          410.33,
          319.35999999999996,
          623.3566,
          328.8423922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$400 million",
        "box": [
          703.7,
          319.35999999999996,
          758.978,
          328.8423922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fifth Third Line of Credit (NewPoint)",
        "box": [
          410.33,
          345.54999999999995,
          570.6465999999999,
          355.0323922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$125 million",
        "box": [
          703.7,
          345.54999999999995,
          759.0289999999999,
          355.0323922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "JPM Line of Credit (NewPoint)",
        "box": [
          410.33,
          371.73,
          545.0866,
          381.2123922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$700 million",
        "box": [
          703.7,
          371.73,
          758.978,
          381.2123922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "PNC Line of Credit (NewPoint)",
        "box": [
          410.33,
          397.89,
          544.3666,
          407.3723922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$500 million ",
        "box": [
          703.7,
          397.89,
          761.45804,
          407.3723922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ASAP Line of Credit (NewPoint)",
        "box": [
          410.33,
          424.07,
          549.8865999999999,
          433.55239224137927
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$100 million",
        "box": [
          703.7,
          424.07,
          758.978,
          433.55239224137927
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total",
        "box": [
          410.33,
          450.26,
          433.23799999999994,
          459.7423922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,275 million",
        "box": [
          694.46,
          450.26,
          758.9976799999998,
          459.7423922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 10,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10",
        "box": [
          747.34,
          589.218,
          756.42654,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$521",
        "box": [
          631.9274478104581,
          169.2930461145677,
          656.9554336725698,
          179.4623310524666
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$116",
        "box": [
          132.4930974626543,
          373.4281291947125,
          156.49517101331378,
          383.59741407188494
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$3",
        "box": [
          305.1263010287839,
          371.92643355383353,
          317.44330701917784,
          382.0957177393356
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$402",
        "box": [
          465.59472611245826,
          169.293036268889,
          489.5326801436519,
          179.46232114226598
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unrestricted",
        "box": [
          114.94867942657532,
          451.2201248376489,
          174.71117344144335,
          461.3663522319018
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cash",
        "box": [
          132.39616783692736,
          463.79691244372486,
          156.86845119700232,
          473.9661973487303
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CLO Reinvestment",
        "box": [
          266.6642831571753,
          451.2201338181013,
          356.41997884745825,
          461.36636298773203
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Available",
        "box": [
          288.98737523967736,
          463.7969217127773,
          333.304649874402,
          473.96620779246086
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Financing Available &",
        "box": [
          426.0955539315753,
          451.22014325526465,
          528.5394508283084,
          461.366373175944
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "In Progress\u00b9",
        "box": [
          447.9243005125274,
          463.796931120679,
          506.97837803779686,
          473.9662180726733
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total",
        "box": [
          631.9080644102253,
          451.22015543785767,
          656.3888291879985,
          461.3663807436907
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Liquidity",
        "box": [
          623.6398936909274,
          463.796941521755,
          665.8732839430147,
          473.96622747808783
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Liquidity ($M)",
        "box": [
          36.12,
          104.75200000000001,
          124.65288000000001,
          118.14159482758623
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Liquidity",
        "box": [
          34.872,
          39.74000000000001,
          127.79999999999998,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.",
        "box": [
          36.12,
          577.284,
          41.45668,
          583.4532672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Represents cash available at 3/31/2026 that we can invest at a market advance rate utilizing our available capacity on financing lines.",
        "box": [
          46.104,
          577.284,
          437.74960000000016,
          583.4532672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FBRT 1Q 2026 Financial Update",
        "box": [
          35.496,
          23.379999999999995,
          192.13152000000002,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 11,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11",
        "box": [
          747.34,
          589.218,
          756.42654,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Income Statement (QTD)",
        "box": [
          38.05658452254311,
          76.25513864127993,
          136.5819623137966,
          84.81478594975408
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Volume",
        "box": [
          476.5767073510231,
          76.25513864127993,
          507.25402949530064,
          84.81478594975408
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "UPB",
        "box": [
          608.0537999849432,
          76.25513864127993,
          625.2766296520365,
          84.81478594975408
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Count",
        "box": [
          690.5754866134232,
          76.25513864127993,
          714.2017913097648,
          84.81478594975408
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net interest income",
        "box": [
          38.0565846499233,
          94.75616260480001,
          115.67173850437678,
          103.31580991327417
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                ($0.6)",
        "box": [
          341.57210753280333,
          94.75616260480001,
          425.07010431752883,
          103.31580991327417
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2026 Total",
        "box": [
          476.5767074784033,
          94.75616260480001,
          532.795980582041,
          103.31580991327417
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                          $646.3",
        "box": [
          579.0742782883234,
          94.75616260480001,
          654.6168966854328,
          103.31580991327417
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                   27",
        "box": [
          664.0642207411234,
          94.75616260480001,
          740.1274712372089,
          103.31580991327417
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Gain / (loss) on sales",
        "box": [
          38.05658479800621,
          116.26410245007997,
          121.68848695943572,
          124.82374975855413
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                 16.5",
        "box": [
          342.57140153688624,
          116.26410245007997,
          422.12318688426774,
          124.82374975855413
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mortgage servicing rights",
        "box": [
          38.056584946020344,
          137.76205254160004,
          139.66678287074578,
          146.32169985007414
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                    6.7",
        "box": [
          341.57210782890036,
          137.76205254160004,
          422.1191898568579,
          146.32169985007414
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mortgage servicing rights amortization, impairments & payoffs",
        "box": [
          38.056585094103255,
          159.26999238688,
          287.45934643966064,
          167.8296396953541
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                  (9.0)",
        "box": [
          342.57140183298327,
          159.26999238688,
          425.0761005248448,
          167.8296396953541
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Servicing and ancillary fees",
        "box": [
          38.05658524211738,
          180.76794247840002,
          147.13150827116286,
          189.3275897868741
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                 12.3",
        "box": [
          342.5714019809974,
          180.76794247840002,
          422.1231873283789,
          189.3275897868741
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Servicing interest on escrows",
        "box": [
          38.05658539020029,
          202.27588232368004,
          154.15554493306976,
          210.83552963215413
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                    6.9",
        "box": [
          341.57210827308035,
          202.27588232368004,
          422.1191903010378,
          210.83552963215413
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other income",
        "box": [
          38.05658553807686,
          223.75385290768003,
          91.21801944235435,
          232.31350021615413
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                    2.0",
        "box": [
          341.5721084209569,
          223.75385290768003,
          422.11919044891437,
          232.31350021615413
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Revenues",
        "box": [
          38.05658568609099,
          245.25180299919998,
          98.65576376057646,
          253.81145030767414
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                              $34.8",
        "box": [
          343.07104935297104,
          245.25180299919998,
          422.20113269312054,
          253.81145030767414
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Operating expenses",
        "box": [
          38.0565858341739,
          266.75974284448,
          116.2113583708674,
          275.31939015295416
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                (34.4)",
        "box": [
          341.57210871705394,
          266.75974284448,
          425.0701055017794,
          275.31939015295416
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Taxes",
        "box": [
          38.05658598218803,
          288.257692936,
          62.2315030054735,
          296.81734024447417
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                    0.3",
        "box": [
          341.57210886506806,
          288.257692936,
          422.1191908930256,
          296.81734024447417
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan loss provision",
        "box": [
          38.05658613027094,
          309.76563278128003,
          115.59979082709239,
          318.3252800897542
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                    2.1",
        "box": [
          341.57210901315096,
          309.76563278128003,
          422.1191910411085,
          318.3252800897542
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP net income (loss)",
        "box": [
          38.05658627828507,
          331.26358287280004,
          131.10483444480255,
          339.8232301812742
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                 $2.8",
        "box": [
          342.0717560891651,
          331.26358287280004,
          422.2171219870106,
          339.8232301812742
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mortgage servicing rights",
        "box": [
          38.05658642636798,
          352.77152271808,
          139.6667843510934,
          361.33117002655416
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                  (6.7)",
        "box": [
          342.571403165248,
          352.77152271808,
          425.0761018571095,
          361.33117002655416
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mortgage servicing rights amortization, impairments & payoffs",
        "box": [
          38.05658657438211,
          374.26947280959996,
          287.4593479199395,
          382.8291201180741
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                    9.0",
        "box": [
          341.5721094572621,
          374.26947280959996,
          422.11919148521963,
          382.8291201180741
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fair value adjustments on equity investments",
        "box": [
          38.05658672225868,
          395.7474433936,
          218.57702327988008,
          404.3070907020741
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                  (0.7)",
        "box": [
          342.57140346113874,
          395.7474433936,
          425.0761021530002,
          404.3070907020741
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other adjustments",
        "box": [
          38.05658687034159,
          417.25538323888,
          111.69654976562705,
          425.8150305473541
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                    1.2",
        "box": [
          341.57210975322164,
          417.25538323888,
          422.1191917811791,
          425.8150305473541
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings",
        "box": [
          38.056587018355714,
          438.7533333304,
          126.59901918816917,
          447.31298063887414
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                                 $5.6",
        "box": [
          342.07175682923577,
          438.7533333304,
          422.21712272708123,
          447.31298063887414
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ROE",
        "box": [
          38.056587314452756,
          481.7592232672,
          54.550931760522225,
          490.31887057567417
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP return on equity",
        "box": [
          38.05658746937925,
          504.2611436116,
          124.52148771256873,
          512.8207909200742
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " (2)",
        "box": [
          124.57045303710382,
          502.01344901560003,
          133.5700935435288,
          507.71988055458274
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.7%",
        "box": [
          406.0665358116213,
          503.26216823560003,
          425.1330626430348,
          511.8218155440741
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings return on equity",
        "box": [
          38.05658761742846,
          525.7641884775376,
          190.50785905386587,
          534.3238357860117
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " (2)",
        "box": [
          190.5488300275523,
          523.516393984,
          199.54847053397728,
          529.2228255229827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.5%",
        "box": [
          406.0665359596705,
          524.7652131015376,
          425.21400559342004,
          533.3248604100118
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NewPoint Financial Highlights",
        "box": [
          34.872,
          39.74000000000001,
          359.3560000000001,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: All numbers in millions. ",
        "box": [
          36.12,
          567.468,
          123.23063999999995,
          573.6372672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.",
        "box": [
          36.12,
          577.308,
          41.45668,
          583.4772672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Based on final purchase price of $410 million.",
        "box": [
          46.104,
          577.308,
          179.4299999999999,
          583.4772672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FBRT 1Q 2026 Financial Update",
        "box": [
          35.496,
          23.379999999999995,
          192.13152000000002,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 12,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12",
        "box": [
          747.34,
          589.218,
          756.42654,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "MSR Rollforward",
        "box": [
          38.62248173886799,
          77.15972701919122,
          128.74328116460828,
          88.49015625538141
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "MSR ",
        "box": [
          282.1272754140044,
          123.23016971054125,
          310.57383012617225,
          134.5605989467315
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Value on ",
        "box": [
          364.12470478155296,
          105.8906604527013,
          414.5188335279431,
          117.22108968889148
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commitments  (1)",
        "box": [
          343.1358404596844,
          120.25983853702002,
          431.89845751236754,
          134.5605989467315
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total",
        "box": [
          467.1409685504023,
          107.87005648670129,
          494.79467165542263,
          119.20048572289147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "MSR Value",
        "box": [
          451.12709445408444,
          123.23016971054125,
          509.81012636610853,
          134.5605989467315
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Ending balance at 12/31",
        "box": [
          42.618458292922654,
          142.06412297405126,
          175.1568187010595,
          153.3945522102415
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$212.2",
        "box": [
          276.1333114029227,
          142.06412297405126,
          313.81778862867395,
          153.3945522102415
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$7.8",
        "box": [
          376.1326132053227,
          142.06412297405126,
          399.8580969840208,
          153.3945522102415
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$220.0",
        "box": [
          461.6265217792427,
          142.06412297405126,
          499.3109990049941,
          153.3945522102415
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "OMSR - new commitments",
        "box": [
          42.618458436108384,
          162.35293232255128,
          188.6713348751702,
          173.68336155874147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "     -",
        "box": [
          278.1312995941084,
          162.35293232255128,
          298.53405432443066,
          173.68336155874147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.7",
        "box": [
          377.63110438450843,
          162.35293232255128,
          394.3650785365413,
          173.68336155874147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.7",
        "box": [
          472.1359390549084,
          162.35293232255128,
          488.8699132069413,
          173.68336155874147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "OMSR - moved at settlement",
        "box": [
          42.61845857943381,
          182.66153563139125,
          199.41087042440407,
          193.9919648675815
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.7",
        "box": [
          284.62476089343386,
          182.66153563139125,
          301.35873504546674,
          193.9919648675815
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(8.7)",
        "box": [
          375.63311647983386,
          182.66153563139125,
          400.60794218494635,
          193.9919648675815
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "     -",
        "box": [
          463.6145201735138,
          182.66153563139125,
          484.0172749038361,
          193.9919648675815
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Amortization, impairments & payoffs",
        "box": [
          42.61845872282909,
          202.9800359204013,
          240.11058640137614,
          214.31046515659148
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(9.0)",
        "box": [
          282.6267729888291,
          202.9800359204013,
          307.6015986939416,
          214.31046515659148
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "     -",
        "box": [
          370.63814650322917,
          202.9800359204013,
          391.0409012335514,
          214.31046515659148
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(9.0)",
        "box": [
          470.1379512936291,
          202.9800359204013,
          495.1127769987416,
          214.31046515659148
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Ending Balance at 3/31",
        "box": [
          42.61845886615452,
          223.28863922924126,
          168.26141287273504,
          234.6190684654315
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$211.9",
        "box": [
          276.1333119761546,
          223.28863922924126,
          314.45447306825173,
          234.6190684654315
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$5.8",
        "box": [
          375.63311676655456,
          223.28863922924126,
          399.9952844115985,
          234.6190684654315
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$217.7",
        "box": [
          461.6265223524745,
          223.28863922924126,
          499.9476834445718,
          234.6190684654315
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Servicing Book Rollforward",
        "box": [
          38.62248310576791,
          270.84362894609126,
          184.1227660004542,
          282.1740581822815
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Product Type",
        "box": [
          38.622483441381306,
          318.39861866294126,
          110.291463646232,
          329.72904789913144
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12/31",
        "box": [
          278.6307975954869,
          302.54365643060123,
          311.4500490501052,
          313.8740856667914
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "UPB",
        "box": [
          283.62576782388896,
          317.90376965444125,
          306.7626193487956,
          329.23419889063143
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Change",
        "box": [
          367.141668230289,
          317.90376965444125,
          408.34592607565014,
          329.23419889063143
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3/31",
        "box": [
          467.64046692231756,
          300.56426039660124,
          493.4802216534093,
          311.8946896327914
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  UPB",
        "box": [
          459.62853497220897,
          317.90376965444125,
          488.759825163277,
          329.23419889063143
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " (2)",
        "box": [
          488.6193415278659,
          314.95323244126,
          500.8789962435918,
          322.49114794142815
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fannie",
        "box": [
          42.61845966680724,
          336.73772291795126,
          78.88541432220373,
          348.06815215414144
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$7,860",
        "box": [
          276.63280978880726,
          336.73772291795126,
          313.81274508273737,
          348.06815215414144
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$77",
        "box": [
          377.6311056152073,
          336.73772291795126,
          398.365376512394,
          348.06815215414144
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$7,937",
        "box": [
          462.11603022488725,
          336.73772291795126,
          499.29596551881747,
          348.06815215414144
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Freddie",
        "box": [
          42.61845981013267,
          357.0463262267913,
          82.87369830754436,
          368.37675546298146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8,649",
        "box": [
          278.1313009681327,
          357.0463262267913,
          308.3197266353976,
          368.37675546298146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "228",
        "box": [
          377.6311057585327,
          357.0463262267913,
          398.38043649063127,
          368.37675546298146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8,877",
        "box": [
          463.6145214042127,
          357.0463262267913,
          493.80294707147766,
          368.37675546298146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Ginnie",
        "box": [
          42.61845995331841,
          377.33513557529125,
          76.87925978456869,
          388.66556481148143
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,125",
        "box": [
          278.1313011113184,
          377.33513557529125,
          308.31972677858334,
          388.66556481148143
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "80",
        "box": [
          381.12758498571844,
          377.33513557529125,
          394.8838826252652,
          388.66556481148143
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,205",
        "box": [
          463.61452154739845,
          377.33513557529125,
          493.8029472146634,
          388.66556481148143
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Bridge",
        "box": [
          42.618460096713676,
          397.65363586430124,
          77.35977605350797,
          408.9840651004914
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "836",
        "box": [
          282.6267743627137,
          397.65363586430124,
          303.3761050948122,
          408.9840651004914
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(414)",
        "box": [
          375.63311799711374,
          397.65363586430124,
          404.59622754424146,
          408.9840651004914
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "422",
        "box": [
          468.1399646195137,
          397.65363586430124,
          488.88929535161225,
          408.9840651004914
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Affordable",
        "box": [
          42.618460240039106,
          417.96223917314126,
          98.83884700865019,
          429.29266840933144
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "425",
        "box": [
          282.6267745060391,
          417.96223917314126,
          303.37610523813765,
          429.29266840933144
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "23",
        "box": [
          381.12758527243915,
          417.96223917314126,
          394.8838829119859,
          429.29266840933144
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "448",
        "box": [
          468.13996476283916,
          417.96223917314126,
          488.8892954949377,
          429.29266840933144
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Benefit Street Partners",
        "box": [
          42.61846038343438,
          438.28073946215125,
          165.23416279908764,
          449.61116869834143
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "130",
        "box": [
          282.6267746494344,
          438.28073946215125,
          303.3761053815329,
          449.61116869834143
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9,895",
        "box": [
          372.6361362118344,
          438.28073946215125,
          402.82456187909935,
          449.61116869834143
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10,025",
        "box": [
          460.1180428935144,
          438.28073946215125,
          497.285965284306,
          449.61116869834143
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Private Label",
        "box": [
          42.61846052677378,
          458.5913221670253,
          112.56959558280468,
          469.92175140321547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "24,821",
        "box": [
          274.63482260077376,
          458.5913221670253,
          311.80274499156536,
          469.92175140321547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "395",
        "box": [
          377.6311064751738,
          458.5913221670253,
          398.3804372072724,
          469.92175140321547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "25,216",
        "box": [
          460.1180430368538,
          458.5913221670253,
          497.2859654276454,
          469.92175140321547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total",
        "box": [
          42.618460670134134,
          478.90487396595023,
          70.27216377515441,
          490.23530320214047
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$47,846",
        "box": [
          272.63683469613414,
          478.90487396595023,
          317.4329505799367,
          490.23530320214047
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$10,284",
        "box": [
          363.61522046181415,
          478.90487396595023,
          408.41133634561675,
          490.23530320214047
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$58,130",
        "box": [
          458.12005513221413,
          478.90487396595023,
          502.9161710160168,
          490.23530320214047
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Agency/FHA",
        "box": [
          42.61846090778753,
          512.5793489943752,
          110.57545404281082,
          523.9097782305654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$21,634",
        "box": [
          272.13733792178755,
          512.5793489943752,
          316.2967699392443,
          523.9097782305654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$385",
        "box": [
          373.13563374818756,
          512.5793489943752,
          400.849401368901,
          523.9097782305654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$22,019",
        "box": [
          457.62055835786754,
          512.5793489943752,
          501.7799903753244,
          523.9097782305654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other",
        "box": [
          42.61846105114718,
          532.8928018234985,
          72.27831898031368,
          544.2232310596887
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$26,212",
        "box": [
          272.1373380651472,
          532.8928018234985,
          316.2967700826039,
          544.2232310596887
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$9,899",
        "box": [
          366.1226958430672,
          532.8928018234985,
          403.3026311369974,
          544.2232310596887
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$36,111",
        "box": [
          457.6205585012272,
          532.8928018234985,
          501.77999051868403,
          544.2232310596887
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NewPoint MSR & Servicing Book",
        "box": [
          34.872,
          39.74000000000001,
          384.6040000000001,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: All numbers in millions. ",
        "box": [
          36.12,
          554.868,
          123.23063999999995,
          561.0372672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.",
        "box": [
          36.12,
          564.708,
          41.45668,
          570.8772672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Included in commercial mortgage loans held for sale and derivative instruments on the balance sheet.",
        "box": [
          46.104,
          564.708,
          343.42664,
          570.8772672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.",
        "box": [
          36.12,
          574.428,
          41.45668,
          580.5972672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Includes $4.9 billion of principal serviced for a wholly owned subsidiary of the Company; related revenue is eliminated in consolidation. ",
        "box": [
          46.104,
          574.428,
          440.3105600000002,
          580.5972672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FBRT 1Q 2026 Financial Update",
        "box": [
          35.496,
          23.379999999999995,
          192.13152000000002,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 13,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "Portfolio",
        "box": [
          563.78,
          347.5,
          720.1834399999997,
          385.5438146551724
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "02",
        "box": [
          534.0,
          405.0,
          732.6666666666666,
          555.6666666666666
        ],
        "from_ocr": true,
        "confidence": 0.99996
      }
    ]
  },
  {
    "page_no": 14,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14",
        "box": [
          747.34,
          589.218,
          756.42654,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Core Loan Portfolio Composition",
        "box": [
          34.872,
          39.74000000000001,
          386.42400000000015,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.",
        "box": [
          36.12,
          557.676,
          41.45668,
          563.8452672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Weighted average loan-to-value percentage (WA LTV) represents the weighted average ratio of the loan amount to the appraised value of the property at the time of origination.",
        "box": [
          46.104,
          557.676,
          559.7459200000004,
          563.8452672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.",
        "box": [
          36.12,
          567.516,
          41.45668,
          573.6852672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unpaid principal balance (UPB) represents the portion of the loan that has not yet been remitted to the lender.",
        "box": [
          46.104,
          567.516,
          366.02808000000016,
          573.6852672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.",
        "box": [
          36.12,
          577.356,
          41.45668,
          583.5252672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Four risk rated 5, two risk rated 4 and one risk rated 3. One loan removed from the non-performing list post quarter end.",
        "box": [
          46.104,
          577.356,
          394.4343199999999,
          583.5252672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Portfolio",
        "box": [
          35.496,
          23.379999999999995,
          77.87855999999998,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4.6B ",
        "box": [
          94.176,
          116.93,
          130.65504,
          128.81155172413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "total portfolio;",
        "box": [
          130.56,
          116.93,
          209.80800000000002,
          128.81155172413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "64.8% ",
        "box": [
          105.58,
          131.93,
          143.19472000000002,
          143.81155172413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "WA LTV  (1)",
        "box": [
          142.92,
          131.36,
          198.4864,
          143.81155172413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Portfolio Summary",
        "box": [
          280.08,
          86.13999999999999,
          398.8162800000002,
          99.50674568965508
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Rate Type",
        "box": [
          523.99,
          86.13999999999999,
          586.00468,
          99.50674568965508
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Collateral Summary",
        "box": [
          36.168,
          314.19000000000005,
          160.32371999999998,
          327.5567456896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Collateral by Vintage",
        "box": [
          280.08,
          314.19000000000005,
          410.3712000000001,
          327.5567456896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Collateral by State",
        "box": [
          523.99,
          314.19000000000005,
          639.4268800000004,
          327.5567456896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "166 senior",
        "box": [
          80.136,
          166.53999999999996,
          139.44095999999996,
          178.42155172413788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " loans",
        "box": [
          139.56,
          166.53999999999996,
          173.21088,
          178.42155172413788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "; ",
        "box": [
          173.16,
          166.53999999999996,
          179.74754,
          178.42155172413788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "average",
        "box": [
          179.76,
          166.53999999999996,
          223.86432000000005,
          178.42155172413788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "UPB",
        "box": [
          108.36,
          181.522,
          132.755304,
          193.42640086206893
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " (2)",
        "box": [
          132.72,
          180.97000000000003,
          145.3264,
          188.85295258620692
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " of $27M",
        "box": [
          145.32,
          181.522,
          195.66760800000003,
          193.42640086206893
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11 mezzanine ",
        "box": [
          94.416,
          215.18,
          175.83552000000003,
          227.06155172413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "loans;",
        "box": [
          175.68,
          215.18,
          209.47584000000003,
          227.06155172413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "average ",
        "box": [
          88.176,
          230.18,
          135.46272000000002,
          242.06155172413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "UPB",
        "box": [
          135.6,
          230.18,
          160.02336,
          242.06155172413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " (2)",
        "box": [
          159.96,
          229.61,
          172.56640000000002,
          237.4929525862069
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " of $5M",
        "box": [
          172.56,
          230.18,
          215.78592,
          242.06155172413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7 non-performing ",
        "box": [
          79.056,
          271.34,
          181.22784,
          283.2215517241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "loans  (3)",
        "box": [
          180.96,
          270.77000000000004,
          225.0064,
          283.2215517241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          299.4946725552022,
          252.23526021444513,
          322.25471772309663,
          259.8521532171367
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": ", 99%",
        "box": [
          322.48030510095225,
          252.23526236588845,
          341.4284289401032,
          259.8521550117861
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mezzanine",
        "box": [
          446.1934037216613,
          142.3512584531323,
          484.9840183601515,
          149.96815295627687
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": ", 1%",
        "box": [
          484.7074407950613,
          142.35126205802624,
          499.63739654395073,
          149.96815432782546
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Floating, ",
        "box": [
          550.3980416939846,
          144.09865482263478,
          582.8856528056805,
          151.71499274460632
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "91%",
        "box": [
          582.8873972293346,
          144.0986578636216,
          597.7930459385032,
          151.71499413993058
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fixed, ",
        "box": [
          690.2634936984108,
          142.12484765236889,
          712.7432452543565,
          149.74118463761
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9%",
        "box": [
          713.2441347930107,
          142.124849803345,
          723.6817858342797,
          149.7411856614517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily, ",
        "box": [
          58.59520597516315,
          370.014685839325,
          100.34981550277404,
          377.3215278576491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "79%",
        "box": [
          100.83062367928814,
          370.014685839325,
          115.13860810110494,
          377.3215278576491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Hospitality, ",
        "box": [
          196.7526954399957,
          380.82167068132503,
          236.56682349623156,
          388.1285126996491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11%",
        "box": [
          237.54592814934568,
          380.82167068132503,
          251.8539125711625,
          388.1285126996491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Industrial, ",
        "box": [
          219.55934192396487,
          419.884617218625,
          255.54042016020074,
          427.1914592369491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6%",
        "box": [
          255.5420971092149,
          419.884617218625,
          265.56123417431087,
          427.1914592369491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Office, ",
        "box": [
          219.1089585918832,
          435.353907468125,
          242.1439110610691,
          442.66074948644905
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1%",
        "box": [
          242.62471923758318,
          435.353907468125,
          252.62018722004075,
          442.66074948644905
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other, ",
        "box": [
          219.1089586101188,
          448.312725575125,
          241.1952312488547,
          455.6195675934491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3%",
        "box": [
          241.6760394253688,
          448.312725575125,
          251.67150740782634,
          455.6195675934491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Texas, ",
        "box": [
          554.9300113667665,
          494.02680095638743,
          579.4350555783548,
          501.49096052842293
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "29%",
        "box": [
          579.4367650427664,
          494.02680153999984,
          594.0924666868888,
          501.49096087747967
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Florida, ",
        "box": [
          528.2464891883503,
          433.6017575229372,
          556.1756307199386,
          441.06591717651537
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "15%",
        "box": [
          556.1773401843503,
          433.6017581880923,
          570.7847131405846,
          441.06591752442114
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "North Carolina, ",
        "box": [
          534.3364707518681,
          375.55073029436664,
          588.7289929994563,
          383.014890578153
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13%",
        "box": [
          588.730702463868,
          375.5507315897299,
          603.3380754201023,
          383.0148909260588
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Georgia, ",
        "box": [
          608.2920760027432,
          360.2612911535714,
          639.1659412295314,
          367.7254508772762
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7%",
        "box": [
          639.1578675587432,
          360.2612918886201,
          649.3866516091895,
          367.7254511206758
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Various, ",
        "box": [
          660.788381160253,
          365.0972497497367,
          691.1633064918412,
          372.5614094615596
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7%",
        "box": [
          691.165015956253,
          365.09725047313646,
          701.3696356627553,
          372.5614097046167
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "New York, ",
        "box": [
          693.1705633062013,
          378.4816173168972,
          730.4132495481895,
          385.94577719227135
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5%",
        "box": [
          730.4149590126012,
          378.48161820384826,
          740.6195787191035,
          385.94577743532847
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Arizona, 3%",
        "box": [
          707.620258664374,
          391.96368056500717,
          748.1628257587279,
          399.42784051896587
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Connecticut, ",
        "box": [
          713.5390600841749,
          405.3187386695595,
          758.1190977261632,
          412.78289871966786
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3%",
        "box": [
          713.5390633059528,
          414.6242929565595,
          723.7436830124551,
          422.0884521880397
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "All Other, ",
        "box": [
          708.3540202787632,
          468.4304243140806,
          741.6638861703514,
          475.8945840957972
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18%",
        "box": [
          742.1547523947631,
          468.430425119023,
          756.7621253509974,
          475.89458445535195
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Portfolio Overview",
        "box": [
          36.336,
          86.13999999999999,
          152.12387999999999,
          99.50674568965508
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Post-Rate ",
        "box": [
          315.66490051724537,
          363.9598485234375,
          353.1178060850551,
          371.57992579419783
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Hike, ",
        "box": [
          316.1640469959011,
          373.4547990234375,
          335.1547727081369,
          381.0748762941979
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "71%",
        "box": [
          335.6556637366511,
          373.4547990234375,
          350.56131095595964,
          381.0748762941979
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Pre-Rate Hike, ",
        "box": [
          456.14931012167955,
          482.2427954296875,
          509.1368096165653,
          489.86287270044784
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "29%",
        "box": [
          474.13850143065156,
          491.7427327734375,
          489.04414864996,
          499.3628100441979
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 15,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "15",
        "box": [
          747.34,
          589.218,
          756.42654,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "By Region",
        "box": [
          36.432,
          324.782,
          99.66374400000001,
          338.1715948275862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Southeast, ",
        "box": [
          263.30243190730505,
          523.22607518145,
          304.696723596844,
          531.1047756841814
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "40%",
        "box": [
          304.69933945930507,
          523.22607518145,
          320.504857879876,
          531.1047756841814
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Southwest, ",
        "box": [
          65.63449211323923,
          464.1797980293,
          108.41126611598182,
          472.0803231871636
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20%",
        "box": [
          109.11960287323924,
          464.1797980293,
          124.89627655314982,
          472.0803231871636
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Various, ",
        "box": [
          93.60723491127473,
          385.99090465434006,
          126.03478202601733,
          393.89142981220357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12%",
        "box": [
          126.03175285527473,
          385.99090465434006,
          141.8543211111853,
          393.89142981220357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mideast, ",
        "box": [
          176.33220769841378,
          358.19680245765,
          209.44711787755276,
          366.07550296038136
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11%",
        "box": [
          210.13815238001376,
          358.19680245765,
          225.94367080058478,
          366.07550296038136
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Rocky Mountain, ",
        "box": [
          245.9726373817891,
          361.93913177729996,
          310.14546271573164,
          369.8396569351636
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8%",
        "box": [
          310.1424335449891,
          361.93913177729996,
          321.1231240328997,
          369.8396569351636
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Great Lakes, ",
        "box": [
          273.30744717456435,
          382.01933617269003,
          320.91586445450326,
          389.8980366754214
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4%",
        "box": [
          320.9184803169643,
          382.01933617269003,
          331.8821668641113,
          389.8980366754214
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "New England, ",
        "box": [
          289.994715211652,
          394.50828571845,
          343.11048161159096,
          402.38698622118136
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3%",
        "box": [
          289.99471537989916,
          404.83436377073997,
          300.95245857980973,
          412.7348889286036
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Far West, ",
        "box": [
          291.8488564119352,
          414.75468850629,
          327.0290225110742,
          422.63338900902136
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2%",
        "box": [
          328.39929673833524,
          414.75468850629,
          339.36298328548213,
          422.63338900902136
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily, ",
        "box": [
          473.641605792,
          127.43574524124358,
          518.483635586016,
          135.33444183509653
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "92%",
        "box": [
          519.169025184,
          127.43574937750657,
          534.991593311184,
          135.33444333487967
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Healthcare, ",
        "box": [
          657.541171824,
          169.0547912127771,
          701.0007193051681,
          176.9316680884324
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5%",
        "box": [
          701.691753936,
          169.0547952239516,
          712.655440354776,
          176.93166914728863
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Industrial, ",
        "box": [
          669.427867008,
          196.09988465914245,
          708.074129042016,
          203.9985806900968
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3%",
        "box": [
          708.0711000000001,
          196.09988816996247,
          719.028843071184,
          203.99858168535587
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "By State",
        "box": [
          404.06,
          324.782,
          456.85625600000003,
          338.1715948275862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Texas, ",
        "box": [
          658.5019306968092,
          500.0791721751938,
          684.0167000647218,
          507.9560451024565
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20%",
        "box": [
          684.7077335928092,
          500.0791721751938,
          700.5132529877538,
          507.9560451024565
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Florida, ",
        "box": [
          498.1462863207192,
          529.8504318540188,
          527.8099253590318,
          537.7273047812815
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18%",
        "box": [
          527.1333005223191,
          529.8504318540188,
          542.9388199172638,
          537.7273047812815
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "North Carolina, ",
        "box": [
          447.1574043505031,
          472.46226077181876,
          505.1196389504157,
          480.3391336990815
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17%",
        "box": [
          487.177476067154,
          482.7813598252375,
          503.0000453001373,
          490.68005234509656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Various, ",
        "box": [
          463.90891300826934,
          389.7307032748037,
          496.33081606418205,
          397.6075762020665
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12%",
        "box": [
          496.3334309522694,
          389.7307032748037,
          512.1389503472141,
          397.6075762020665
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Colorado, ",
        "box": [
          510.40011471274397,
          362.70509171724376,
          548.3523141766566,
          370.58196464450657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7%",
        "box": [
          547.6665104247439,
          362.70509171724376,
          558.6072506582647,
          370.58196464450657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "New Jersey, ",
        "box": [
          563.9866209637137,
          357.80051160079375,
          610.1998441076264,
          365.67738452805656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6%",
        "box": [
          610.9092354661136,
          357.80051160079375,
          621.8499756996343,
          365.67738452805656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Georgia, ",
        "box": [
          617.3803724763363,
          370.61659197985375,
          649.806864989849,
          378.49346490711656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5%",
        "box": [
          649.8094798779364,
          370.61659197985375,
          660.7502201114571,
          378.49346490711656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Ohio",
        "box": [
          646.5693247889653,
          384.73559469358753,
          663.6732705838687,
          392.6342872134466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": ", 4%",
        "box": [
          663.8073275345653,
          384.73559469358753,
          678.9139413819487,
          392.6342872134466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "All Other, ",
        "box": [
          666.836374558314,
          420.50579757559376,
          702.0073627166266,
          428.38267050285657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11%",
        "box": [
          702.009977604714,
          420.50579757559376,
          717.8154969996585,
          428.38267050285657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "26 loans; $468 million total commitment ",
        "box": [
          77.616,
          128.35000000000002,
          281.94432,
          138.86060344827587
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($462 million",
        "box": [
          281.88,
          128.35000000000002,
          346.5854400000001,
          138.86060344827587
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of initial funding / $6 million of future funding)",
        "box": [
          98.376,
          141.55,
          325.82208,
          152.06060344827586
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.78% ",
        "box": [
          76.176,
          205.32000000000005,
          109.38432,
          215.8306034482759
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "weighted average spread; ",
        "box": [
          109.06,
          205.32000000000005,
          238.33840000000015,
          215.8306034482759
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.49% ",
        "box": [
          238.32,
          205.32000000000005,
          271.52832,
          215.8306034482759
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "all-in coupon  (1)",
        "box": [
          271.2,
          204.75,
          348.19039999999995,
          215.8306034482759
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.5% ",
        "box": [
          92.736,
          269.09000000000003,
          119.57424,
          279.6006034482759
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and ",
        "box": [
          119.38,
          269.09000000000003,
          140.70928000000004,
          279.6006034482759
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.5% ",
        "box": [
          140.62,
          269.09000000000003,
          167.51344,
          279.6006034482759
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "weighted average origination and",
        "box": [
          167.28,
          269.09000000000003,
          331.42271999999997,
          279.6006034482759
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " exit fees, respectively",
        "box": [
          158.04,
          282.29,
          266.1988800000001,
          292.80060344827587
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "By Collateral",
        "box": [
          404.88,
          86.81000000000006,
          484.54296000000005,
          100.1767456896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Core Originations in the Quarter",
        "box": [
          34.872,
          39.74000000000001,
          375.8400000000001,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Portfolio",
        "box": [
          35.496,
          23.379999999999995,
          77.87855999999998,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Overview",
        "box": [
          36.48,
          86.86000000000001,
          94.10015999999999,
          100.22674568965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: Charts shown above are based on the initial funding/unpaid principal balance of the newly originated loans. ",
        "box": [
          36.12,
          567.468,
          369.30864,
          573.6372672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.",
        "box": [
          36.12,
          577.308,
          41.45668,
          583.4772672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "All-in coupon based on 3/31/26 SOFR indices.",
        "box": [
          46.104,
          577.308,
          181.27415999999988,
          583.4772672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 16,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16",
        "box": [
          747.34,
          589.218,
          756.42654,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investment",
        "box": [
          29.997644671950276,
          123.94530726868749,
          75.07543994404281,
          132.52100529545788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Type",
        "box": [
          209.2399449193443,
          123.1967501321875,
          251.38768350123502,
          131.7724481589579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investment Date",
        "box": [
          272.99318351936427,
          123.1967501321875,
          338.3650022057473,
          131.7724481589579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Default Date",
        "box": [
          356.2260233838843,
          123.1967501321875,
          405.1174001327627,
          131.7724481589579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Non-Performing",
        "box": [
          422.9861132560143,
          123.1967501321875,
          487.97026290338613,
          131.7724481589579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Collateral",
        "box": [
          511.4634611532843,
          123.1967501321875,
          549.0673579756002,
          131.7724481589579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Purpose",
        "box": [
          577.4743355921643,
          123.1967501321875,
          633.8396107908188,
          131.7724481589579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Location",
        "box": [
          662.9648112955442,
          123.1967501321875,
          697.9992737895294,
          131.7724481589579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Risk ",
        "box": [
          720.7243263761003,
          111.19987442454749,
          762.6556915408682,
          119.77557245131783
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Rating",
        "box": [
          727.4672653288143,
          123.1967501321875,
          753.5132154531648,
          131.7724481589579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "456-Unit Apartment Community",
        "box": [
          29.997644772250872,
          146.45192517278753,
          159.5692594307187,
          155.02762319955792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Floating Rate",
        "box": [
          203.23623199118333,
          140.4634680807875,
          258.08689326998,
          149.0391661075579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          206.2430833166684,
          152.4403822647875,
          254.78285326272257,
          161.0160802915579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q4 2021",
        "box": [
          287.9774922880008,
          146.45192517278753,
          322.2456322630101,
          155.02762319955792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2026",
        "box": [
          362.9689623867708,
          146.45192517278753,
          397.2371023617801,
          155.02762319955792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Yes",
        "box": [
          447.7401912742308,
          146.45192517278753,
          462.94042386531095,
          155.02762319955792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          507.7273736297808,
          146.45192517278753,
          552.7059977523589,
          155.02762319955792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Acquisition",
        "box": [
          582.7188437285508,
          146.45192517278753,
          628.2744636301227,
          155.02762319955792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Durham, NC",
        "box": [
          656.2218724999308,
          146.45192517278753,
          703.8600865413075,
          155.02762319955792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5",
        "box": [
          737.9562814979508,
          146.45192517278753,
          743.0320412795028,
          155.02762319955792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "276-Unit Apartment Community",
        "box": [
          29.997644916052128,
          178.7197281368475,
          159.56925957451992,
          187.2954261636179
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Floating Rate",
        "box": [
          203.23623213485115,
          172.70132875938748,
          258.08689341364783,
          181.27702678615788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          206.24308346046965,
          184.70818522884753,
          254.78285340652383,
          193.28388325561787
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2022",
        "box": [
          287.9774924318021,
          178.7197281368475,
          322.2456324068114,
          187.2954261636179
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2026",
        "box": [
          362.96896253057207,
          178.7197281368475,
          397.2371025055814,
          187.2954261636179
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Yes",
        "box": [
          447.7401914180321,
          178.7197281368475,
          462.94042400911223,
          187.2954261636179
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          507.7273737735821,
          178.7197281368475,
          552.7059978961602,
          187.2954261636179
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Acquisition",
        "box": [
          582.7188438723521,
          178.7197281368475,
          628.2744637739239,
          187.2954261636179
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Charlotte, NC",
        "box": [
          653.9742263439821,
          178.7197281368475,
          706.8414646324882,
          187.2954261636179
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5",
        "box": [
          737.9562816417521,
          178.7197281368475,
          743.032041423304,
          187.2954261636179
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "184-Unit Apartment Community",
        "box": [
          29.997645059719943,
          210.95758881544748,
          159.56925971818774,
          219.53328684221788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Floating Rate",
        "box": [
          203.23623227865238,
          204.9691317234475,
          258.0868935574491,
          213.5448297502179
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          206.24308360413747,
          216.9460459074475,
          254.78285355019165,
          225.5217439342179
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q4 2021",
        "box": [
          287.9774925754699,
          210.95758881544748,
          322.24563255047923,
          219.53328684221788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "None",
        "box": [
          369.74187019081995,
          210.95758881544748,
          390.9284339889587,
          219.53328684221788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Yes",
        "box": [
          447.74019156169993,
          210.95758881544748,
          462.94042415278005,
          219.53328684221788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          507.7273739172499,
          210.95758881544748,
          552.7059980398279,
          219.53328684221788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Acquisition",
        "box": [
          582.7188440160198,
          210.95758881544748,
          628.2744639175917,
          219.53328684221788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Glendale, AZ",
        "box": [
          655.4726573541499,
          210.95758881544748,
          705.7884924324186,
          219.53328684221788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5",
        "box": [
          737.9562817854198,
          210.95758881544748,
          743.0320415669718,
          219.53328684221788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Suburban Office Park",
        "box": [
          29.99764520347672,
          243.21541101768753,
          116.20442084695681,
          251.79110904445793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Floating Rate",
        "box": [
          203.2362324223202,
          237.2069924020475,
          258.0868937011169,
          245.7826904288179
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          206.24308374789425,
          249.2038681096875,
          254.78285369394843,
          257.7795661364579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q4 2019",
        "box": [
          287.97749271922663,
          243.21541101768753,
          322.245632694236,
          251.79110904445793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "None",
        "box": [
          369.7418703345767,
          243.21541101768753,
          390.9284341327155,
          251.79110904445793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Yes",
        "box": [
          447.74019170545665,
          243.21541101768753,
          462.94042429653683,
          251.79110904445793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Office",
        "box": [
          518.9855846379767,
          243.21541101768753,
          542.4080070797156,
          251.79110904445793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Acquisition",
        "box": [
          582.7188441597766,
          243.21541101768753,
          628.2744640613485,
          251.79110904445793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Alpharetta, GA",
        "box": [
          650.9773648984066,
          243.21541101768753,
          709.0736274340424,
          251.79110904445793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5",
        "box": [
          737.9562819291766,
          243.21541101768753,
          743.0320417107285,
          251.79110904445793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "848-Unit Apartment Community",
        "box": [
          29.997645347144534,
          275.4532716962875,
          159.56926000561234,
          284.0289697230579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Floating Rate",
        "box": [
          203.23623256607698,
          269.4648146042875,
          258.08689384487366,
          278.0405126310579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          206.24308389156204,
          281.4417287882875,
          254.78285383761624,
          290.0174268150579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2021",
        "box": [
          287.97749286289445,
          275.4532716962875,
          322.2456328379038,
          284.0289697230579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "None",
        "box": [
          369.7418704782445,
          275.4532716962875,
          390.9284342763833,
          284.0289697230579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "No",
        "box": [
          449.98783814887446,
          275.4532716962875,
          461.10199961009585,
          284.0289697230579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          507.72737420467445,
          275.4532716962875,
          552.7059983272526,
          284.0289697230579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Acquisition",
        "box": [
          582.7188443034445,
          275.4532716962875,
          628.2744642050163,
          284.0289697230579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Garland, TX",
        "box": [
          656.9710885080744,
          275.4532716962875,
          703.8429800304754,
          284.0289697230579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          737.9562820728445,
          275.4532716962875,
          743.0320418543964,
          284.0289697230579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "307-Unit Student Housing Community",
        "box": [
          29.997645490945786,
          307.7210746603475,
          184.2809074966239,
          316.29677268711794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Floating Rate",
        "box": [
          203.2362327097448,
          301.7026752828875,
          258.0868939885415,
          310.2783733096579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          206.2430840353633,
          313.7095317523475,
          254.78285398141747,
          322.2852297791179
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2022",
        "box": [
          287.97749300669574,
          307.7210746603475,
          322.24563298170506,
          316.29677268711794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "None",
        "box": [
          369.7418706220458,
          307.7210746603475,
          390.92843442018454,
          316.29677268711794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "No",
        "box": [
          449.98783829267575,
          307.7210746603475,
          461.1019997538971,
          316.29677268711794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          507.72737434847573,
          307.7210746603475,
          552.7059984710538,
          316.29677268711794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Acquisition",
        "box": [
          582.7188444472457,
          307.7210746603475,
          628.2744643488176,
          316.29677268711794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Norfolk, VA",
        "box": [
          657.7203040851257,
          307.7210746603475,
          702.338305845833,
          316.29677268711794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          737.9562822166457,
          307.7210746603475,
          743.0320419981977,
          316.29677268711794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "352-Unit Apartment Community",
        "box": [
          29.9976456346136,
          339.95893533894747,
          159.5692602930814,
          348.53463336571787
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Floating Rate",
        "box": [
          203.23623285354606,
          333.9704782469475,
          258.08689413234276,
          342.5461762737179
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          206.24308417903111,
          345.9473924309475,
          254.7828541250853,
          354.5230904577179
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2024",
        "box": [
          287.97749315036356,
          339.95893533894747,
          322.2456331253729,
          348.53463336571787
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2026",
        "box": [
          362.96896324913354,
          339.95893533894747,
          397.23710322414286,
          348.53463336571787
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Yes",
        "box": [
          447.7401921365936,
          339.95893533894747,
          462.9404247276737,
          348.53463336571787
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          507.72737449214355,
          339.95893533894747,
          552.7059986147216,
          348.53463336571787
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Acquisition",
        "box": [
          582.7188445909135,
          339.95893533894747,
          628.2744644924853,
          348.53463336571787
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "San Antonio, TX",
        "box": [
          647.9805035965435,
          339.95893533894747,
          712.8113887401204,
          348.53463336571787
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          737.9562823603135,
          339.95893533894747,
          743.0320421418654,
          348.53463336571787
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "172-Unit Apartment Community",
        "box": [
          29.997645778370376,
          372.2167575411875,
          159.5692604368382,
          380.7924555679579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Floating Rate",
        "box": [
          203.23623299721388,
          366.20833892554754,
          258.0868942760105,
          374.78403695231793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          206.2430843227879,
          378.2052146331875,
          254.78285426884207,
          386.7809126599579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2022",
        "box": [
          287.97749329412034,
          372.2167575411875,
          322.24563326912966,
          380.7924555679579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "None",
        "box": [
          369.7418709094704,
          372.2167575411875,
          390.92843470760914,
          380.7924555679579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Yes",
        "box": [
          447.74019228035036,
          372.2167575411875,
          462.9404248714305,
          380.7924555679579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          507.72737463590033,
          372.2167575411875,
          552.7059987584784,
          380.7924555679579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Acquisition",
        "box": [
          582.7188447346703,
          372.2167575411875,
          628.2744646362421,
          380.7924555679579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Tempe, AZ",
        "box": [
          659.2187352390503,
          372.2167575411875,
          701.3123804666602,
          380.7924555679579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          737.9562825040703,
          372.2167575411875,
          743.0320422856222,
          380.7924555679579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "476-Unit Apartment Community",
        "box": [
          29.997645922038192,
          404.4546182197875,
          159.56926058050598,
          413.0303162465579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Floating Rate",
        "box": [
          203.23623314097065,
          398.4661611277875,
          258.0868944197673,
          407.04185915455787
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          206.2430844664557,
          410.4430753117875,
          254.7828544125099,
          419.0187733385579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2021",
        "box": [
          287.97749343778816,
          404.4546182197875,
          322.2456334127975,
          413.0303162465579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "None",
        "box": [
          369.7418710531382,
          404.4546182197875,
          390.92843485127696,
          413.0303162465579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "No",
        "box": [
          449.98783872376816,
          404.4546182197875,
          461.1020001849895,
          413.0303162465579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          507.72737477956815,
          404.4546182197875,
          552.7059989021462,
          413.0303162465579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Acquisition",
        "box": [
          582.7188448783381,
          404.4546182197875,
          628.27446477991,
          413.0303162465579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Austin, TX",
        "box": [
          659.9679508159682,
          404.4546182197875,
          700.8535111313104,
          413.0303162465579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          737.9562826477381,
          404.4546182197875,
          743.0320424292901,
          413.0303162465579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "344-Unit Apartment Community",
        "box": [
          29.997646065706007,
          436.6924788983875,
          159.5692607241738,
          445.2681769251579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Floating Rate",
        "box": [
          203.23623328463847,
          430.70402180638746,
          258.0868945634352,
          439.27971983315786
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          206.24308461023472,
          442.7058878949375,
          254.7828545562889,
          451.2815859217079
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q4 2022",
        "box": [
          287.977493581456,
          436.6924788983875,
          322.2456335564653,
          445.2681769251579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "None",
        "box": [
          369.741871196806,
          436.6924788983875,
          390.9284349949448,
          445.2681769251579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "No",
        "box": [
          449.987838867436,
          436.6924788983875,
          461.1020003286573,
          445.2681769251579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          507.72737492323597,
          436.6924788983875,
          552.705999045814,
          445.2681769251579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Acquisition",
        "box": [
          582.7188450220059,
          436.6924788983875,
          628.2744649235777,
          445.2681769251579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "San Antonio, TX",
        "box": [
          647.9805040276359,
          436.6924788983875,
          712.8113891712128,
          445.2681769251579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          737.9562827914059,
          436.6924788983875,
          743.0320425729578,
          445.2681769251579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "176-Unit Apartment Community",
        "box": [
          29.997646209485023,
          468.95529148153753,
          159.56926086795283,
          477.5309895083079
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Floating Rate",
        "box": [
          203.23623342841748,
          462.9668343895375,
          258.0868947072141,
          471.5425324163079
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          206.24308475390254,
          474.9437485735375,
          254.78285469995672,
          483.5194466003079
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2022",
        "box": [
          287.977493725235,
          468.95529148153753,
          322.2456337002443,
          477.5309895083079
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "None",
        "box": [
          369.741871340585,
          468.95529148153753,
          390.9284351387238,
          477.5309895083079
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "No",
        "box": [
          449.987839011215,
          468.95529148153753,
          461.1020004724363,
          477.5309895083079
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          507.727375067015,
          468.95529148153753,
          552.7059991895931,
          477.5309895083079
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Acquisition",
        "box": [
          582.718845165785,
          468.95529148153753,
          628.2744650673568,
          477.5309895083079
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fort Worth, TX",
        "box": [
          651.7265813376649,
          468.95529148153753,
          709.0745524724184,
          477.5309895083079
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          737.956282935185,
          468.95529148153753,
          743.0320427167369,
          477.5309895083079
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Core Portfolio - Watch List Loans (Risk Rating 4&5)",
        "box": [
          34.872,
          39.74000000000001,
          586.18,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: Watchlist loans are loans with a risk rating of 4 or 5. ",
        "box": [
          36.12,
          577.284,
          206.50511999999992,
          583.4532672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Portfolio",
        "box": [
          35.496,
          23.379999999999995,
          77.87855999999998,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 17,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17",
        "box": [
          747.34,
          589.218,
          756.42654,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investment",
        "box": [
          37.498616828423856,
          128.00090712974372,
          82.10546697338825,
          136.57485372413203
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Investment ",
        "box": [
          188.99401264852008,
          115.50755356462372,
          257.6809860359846,
          124.0815010674595
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Date",
        "box": [
          213.0074321212392,
          127.50197767749478,
          231.7033481554536,
          136.07592329436636
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Foreclosure / ",
        "box": [
          286.9963443485201,
          115.50755726186276,
          341.20818747223444,
          124.08150421860933
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Deed-In-Lieu Date",
        "box": [
          276.5135826212392,
          127.50198007332972,
          349.64681097445344,
          136.07592774390503
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Collateral Type",
        "box": [
          384.50901432123925,
          127.50198414756875,
          444.14113986770366,
          136.07593130880105
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Collateral Detail",
        "box": [
          535.5047553212393,
          127.50198984403875,
          599.2945351054535,
          136.07593716212284
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Location",
        "box": [
          694.4949763212393,
          127.50199584210873,
          729.5419273512038,
          136.07594207583998
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CBD Office Complex",
        "box": [
          37.498617174005766,
          151.9997322650937,
          116.93596767947014,
          160.5736801734986
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2020",
        "box": [
          205.51260747400576,
          151.99973860359472,
          239.0624422274702,
          160.57368478084572
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q3 2023",
        "box": [
          295.99013487400583,
          151.99974201695272,
          329.53996962747016,
          160.57368819420373
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Office",
        "box": [
          402.4965946740058,
          151.9997460350187,
          426.17087326622016,
          160.57369183970422
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "124k Square Foot Office Complex",
        "box": [
          501.50822947400576,
          151.99974977033474,
          633.4077810662201,
          160.5736996579302
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Portland, OR",
        "box": [
          687.0001516740059,
          151.99975676820873,
          736.6755521044702,
          160.5737035538133
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "471-Unit Apartment Community",
        "box": [
          37.49861767808116,
          187.00508718185375,
          165.36677785104555,
          195.57903691736078
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2022",
        "box": [
          205.51260797808118,
          187.00509352035476,
          239.0624427315456,
          195.5790396976057
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2024",
        "box": [
          295.9901353780812,
          187.0050969337127,
          329.53997013154554,
          195.57904311096377
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          391.0045301780812,
          187.00510051822874,
          437.4241536457956,
          195.57904718100576
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "471-Unit, Garden Style Apartment Community",
        "box": [
          476.4955006780812,
          187.00510374346374,
          658.8190107155455,
          195.57905553335502
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Raleigh, NC",
        "box": [
          688.9987721780813,
          187.00511176036878,
          735.1388136905455,
          195.57905841259827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "426-Unit Apartment Community",
        "box": [
          37.49861818201286,
          222.00046337714377,
          165.36677835497727,
          230.5744131126508
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2018",
        "box": [
          205.51260848201287,
          222.00046971564473,
          239.0624432354773,
          230.57441589289573
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2024",
        "box": [
          295.9901358820129,
          222.00047312900278,
          329.53997063547723,
          230.57441930625373
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          391.0045306820129,
          222.00047671351876,
          437.4241541497273,
          230.57442337629578
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "426-Unit, High Rise Apartment Community",
        "box": [
          482.4913611820129,
          222.00048016495373,
          652.3058334152271,
          230.57443148292867
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cleveland, OH",
        "box": [
          684.0022226820129,
          222.00048776715875,
          739.2963185357272,
          230.5744347647344
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CBD Office Complex",
        "box": [
          37.49861868601641,
          257.00082893316875,
          116.9359691914808,
          265.57477684157357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2021",
        "box": [
          205.5126089860164,
          257.00083527166976,
          239.06244373948084,
          265.5747814489207
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2025",
        "box": [
          295.99013638601645,
          257.00083868502776,
          329.5399711394808,
          265.57478486227876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Office",
        "box": [
          402.4965961860164,
          257.0008427030938,
          426.1708747782308,
          265.5747885077792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "301k Square Foot Office Complex",
        "box": [
          501.5082309860164,
          257.0008464384098,
          633.4077825782307,
          265.5747963260052
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Denver, CO",
        "box": [
          690.4977381860165,
          257.00085356823377,
          733.6255095999807,
          265.5748001068223
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "249-Unit Apartment Community",
        "box": [
          37.49861919001996,
          292.0011944891937,
          165.36677936298437,
          300.5751442247008
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2021",
        "box": [
          205.51260949001997,
          292.00120082769473,
          239.0624442434844,
          300.57514700494573
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2025",
        "box": [
          295.99013689002,
          292.00120424105273,
          329.53997164348436,
          300.57515041830374
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          391.00453169002,
          292.0012078255687,
          437.42415515773445,
          300.5751544883458
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "249-Unit, Garden Style Apartment Community",
        "box": [
          476.49550219002,
          292.00121105080376,
          658.8190122274842,
          300.57516284069504
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Austin, TX",
        "box": [
          691.49704869002,
          292.0012191619587,
          732.1446575977342,
          300.5751656069806
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "272-Unit Apartment Community",
        "box": [
          37.4986196940235,
          327.00156004521875,
          165.3667798669879,
          335.5755097807258
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2022",
        "box": [
          205.5126099940235,
          327.00156638371976,
          239.06244474748794,
          335.5755125609707
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q4 2025",
        "box": [
          295.9901373940236,
          327.00156979707776,
          329.5399721474879,
          335.5755159743287
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          391.00453219402357,
          327.00157338159374,
          437.424155661738,
          335.57552004437076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "272-Unit, Garden Style Apartment Community",
        "box": [
          476.49550269402357,
          327.00157660682873,
          658.8190127314879,
          335.57552839672
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fort Worth, TX",
        "box": [
          683.5025691940235,
          327.00158441638376,
          740.140462187488,
          335.5755314646555
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Foreclosure Real Estate Owned ('REO')",
        "box": [
          34.872,
          39.74000000000001,
          455.32800000000015,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Portfolio",
        "box": [
          35.496,
          23.379999999999995,
          77.87855999999998,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 18,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "Appendix",
        "box": [
          603.5,
          359.5,
          720.3168799999997,
          386.11924568965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 19,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "19",
        "box": [
          747.34,
          589.218,
          756.42654,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Core Portfolio ",
        "box": [
          34.872,
          39.74000000000001,
          189.72000000000003,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          189.94,
          39.74000000000001,
          206.524,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " FBRT Portfolio Details ",
        "box": [
          206.5,
          39.74000000000001,
          456.12400000000014,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          456.38,
          39.74000000000001,
          472.964,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Top 15 Loans",
        "box": [
          472.94,
          39.74000000000001,
          624.6199999999999,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: All numbers in millions.  ",
        "box": [
          36.12,
          557.676,
          124.79231999999995,
          563.8452672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.",
        "box": [
          36.12,
          567.516,
          41.45668,
          573.6852672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Effective Yield defined as: (1) current spread of the loan plus (2) the greater of any applicable index or index floor.",
        "box": [
          46.104,
          567.516,
          375.2361599999998,
          573.6852672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.",
        "box": [
          36.12,
          577.356,
          41.45668,
          583.5252672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As-is loan to value percentage is from metrics at origination. Predevelopment construction loans at origination will not have an LTV and therefore is nil",
        "box": [
          46.104,
          577.356,
          486.9037600000001,
          583.5252672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Appendix",
        "box": [
          35.496,
          23.379999999999995,
          81.51071999999999,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan",
        "box": [
          12.898825809575026,
          118.85846919902121,
          31.953551160812882,
          126.98276653660952
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Type",
        "box": [
          93.17172201557501,
          118.8584706102148,
          132.29799436493286,
          126.98276830065998
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Origination Date",
        "box": [
          182.01782050117504,
          118.85847217212489,
          243.8986818909729,
          126.98277026259461
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Par Value",
        "box": [
          260.857102593975,
          118.85847355811563,
          297.11234906365286,
          126.9827711980883
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Amortized Cost",
        "box": [
          315.951557553575,
          118.85847452667349,
          373.97875027749285,
          126.98277254939592
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Spread",
        "box": [
          397.648573739575,
          118.85847596290307,
          424.29955506413296,
          126.98277343403322
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Effective",
        "box": [
          460.35732349582906,
          106.0297814384299,
          493.297218652067,
          114.15407902011884
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Yield ",
        "box": [
          462.730856825575,
          118.85847710704644,
          483.83631494801284,
          126.98277448068654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1)",
        "box": [
          483.6179498606284,
          116.72510236999051,
          490.81260401214695,
          122.14130049821028
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fully Extended ",
        "box": [
          515.4517784587929,
          107.48047747787768,
          572.6415886344708,
          115.60477548587897
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Maturity",
        "box": [
          526.8637265915751,
          118.85847823449916,
          559.214036076093,
          126.98277580582322
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "State",
        "box": [
          599.047621311175,
          118.85847950348852,
          619.1704366474128,
          126.9827768598538
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Collateral Type",
        "box": [
          646.556263843975,
          118.85848033868814,
          703.2163013870929,
          126.98277833737603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As-is LTV ",
        "box": [
          721.6073867899751,
          118.85848165808324,
          760.2636995459329,
          126.98277934026652
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(2)",
        "box": [
          760.0871086446283,
          116.7251072303049,
          767.281762796147,
          122.14130535852468
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan 1",
        "box": [
          12.898825848093097,
          135.47035001078126,
          38.59279854609095,
          143.59464746508723
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          93.1717220540931,
          135.47035142197484,
          138.3647455182509,
          143.59464921907318
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5/10/24",
        "box": [
          197.6831403196931,
          135.4703532592805,
          228.14506671073104,
          143.59465079740687
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "117",
        "box": [
          271.7753558124931,
          135.47035456181806,
          286.080166323771,
          143.5946518159031
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "116",
        "box": [
          337.8165463516931,
          135.47035572281897,
          352.121356862971,
          143.59465297690406
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+ 2.50%",
        "box": [
          396.22445379809307,
          135.47035674962711,
          425.73791628245107,
          143.59465427107955
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.16%",
        "box": [
          465.5790968240931,
          135.47035796887837,
          488.44476724181106,
          143.59465537346296
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5/9/29",
        "box": [
          530.1866732500931,
          135.47035910467645,
          555.8977353878511,
          143.59465655928284
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Connecticut",
        "box": [
          586.7052481896931,
          135.47036009827025,
          631.8384586146913,
          143.5946578943171
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          653.2021571224931,
          135.47036126728267,
          697.3185458817713,
          143.59465904545385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "50.7%",
        "box": [
          733.0003466684931,
          135.47036267013095,
          755.8660170862111,
          143.59466007471553
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan 2",
        "box": [
          12.898825891030192,
          153.98804591567125,
          38.59279858902805,
          162.11234336997722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          93.17172209703018,
          153.98804732686483,
          138.36474556118802,
          162.11234512396317
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2/9/23",
        "box": [
          200.0566736626302,
          153.98804920589708,
          225.76773580038812,
          162.11234666050353
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "94",
        "box": [
          274.1488891554302,
          153.98805050843464,
          283.7066330667081,
          162.1123476790665
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "94",
        "box": [
          340.19007969463024,
          153.98805166943555,
          349.7478236059081,
          162.1123488400674
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+ 4.00%",
        "box": [
          396.2244538410302,
          153.9880526545171,
          425.73791632538814,
          162.11235017596954
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.00%",
        "box": [
          465.5790968670302,
          153.98805387376837,
          488.44476728474814,
          162.11235127835295
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5/9/28",
        "box": [
          530.1866732930303,
          153.98805500956644,
          555.8977354307881,
          162.11235246417283
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Various",
        "box": [
          594.7752614526302,
          153.98805614503067,
          623.9213009821481,
          162.1123536600238
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Hospitality",
        "box": [
          654.1610646186301,
          153.9880571890302,
          695.9276554109083,
          162.11235492589202
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "53.6%",
        "box": [
          733.0003467114302,
          153.98805857502094,
          755.8660171291481,
          162.11235597960552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan 3",
        "box": [
          12.898825933945302,
          172.4962601534313,
          38.592798631943154,
          180.62055760773728
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          93.1717221399453,
          172.4962615646249,
          138.36474560410312,
          180.62055936172322
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10/28/25",
        "box": [
          195.3096071055453,
          172.49626336020395,
          230.52239774986327,
          180.6205609818503
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "93",
        "box": [
          274.1488891983453,
          172.4962647461947,
          283.70663310962317,
          180.62056191682655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "92",
        "box": [
          340.1900797375453,
          172.4962659071956,
          349.74782364882316,
          180.62056307782746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+ 2.30%",
        "box": [
          396.2244538839453,
          172.49626689227716,
          425.7379163683032,
          180.6205644137296
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.96%",
        "box": [
          465.5790969099453,
          172.49626811152842,
          488.4447673276632,
          180.620565516113
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11/9/30",
        "box": [
          527.8131400359453,
          172.4962692055999,
          558.2750664269832,
          180.62056674372627
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Various",
        "box": [
          594.7752614955452,
          172.49627038279073,
          623.9213010250633,
          180.62056789778387
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          653.2021572083453,
          172.49627140993272,
          697.3185459676235,
          180.6205691881039
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "72.1%",
        "box": [
          733.0003467543453,
          172.496272812781,
          755.8660171720633,
          180.62057021736558
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan 4",
        "box": [
          12.898825976882398,
          191.01395605832124,
          38.59279867488026,
          199.13825351262722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          93.17172218288239,
          191.01395746951482,
          138.3647456470402,
          199.13825526661316
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12/15/21",
        "box": [
          195.3096071484824,
          191.0139592650939,
          230.52239779280038,
          199.13825688674024
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "80",
        "box": [
          274.1488892412824,
          191.01396065108463,
          283.7066331525603,
          199.13825782171648
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "80",
        "box": [
          340.19007978048245,
          191.01396181208554,
          349.7478236917603,
          199.1382589827174
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4.25%",
        "box": [
          399.5474005468824,
          191.01396285558434,
          422.4130709646003,
          199.13826026016892
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4.25%",
        "box": [
          465.5790969528824,
          191.01396401641836,
          488.44476737060035,
          199.13826142100294
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3/9/27",
        "box": [
          530.1866733788825,
          191.01396515221643,
          555.8977355166403,
          199.13826260682282
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "North Carolina",
        "box": [
          581.4834750584824,
          191.0139660540117,
          636.4772922250004,
          199.13826402340754
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          653.2021572512824,
          191.01396731482265,
          697.3185460105606,
          199.13826509299383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "76.1%",
        "box": [
          733.0003467972824,
          191.01396871767093,
          755.8660172150003,
          199.13826612225552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan 5",
        "box": [
          12.898826019797507,
          209.52217029608124,
          38.59279871779536,
          217.64646775038722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          93.17172222579751,
          209.52217170727482,
          138.36474568995533,
          217.64646950437316
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2/16/24",
        "box": [
          197.68314049139752,
          209.52217354458048,
          228.14506688243546,
          217.64647108270685
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "80",
        "box": [
          274.1488892841975,
          209.52217488884463,
          283.7066331954754,
          217.64647205947648
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "80",
        "box": [
          340.1900798233975,
          209.52217604984554,
          349.74782373467536,
          217.6464732204774
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+ 3.65%",
        "box": [
          396.2244539697975,
          209.5221770349271,
          425.7379164541554,
          217.64647455637953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.31%",
        "box": [
          465.5790969957975,
          209.52217825417836,
          488.4447674135154,
          217.64647565876294
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3/9/29",
        "box": [
          530.1866734217975,
          209.52217938997643,
          555.8977355595555,
          217.64647684458282
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Texas",
        "box": [
          597.6235015413974,
          209.5221805755126,
          620.5917085976753,
          217.64647798189975
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          653.2021572941975,
          209.52218155258265,
          697.3185460534758,
          217.64647933075383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "53.3%",
        "box": [
          733.0003468401975,
          209.52218295543094,
          755.8660172579155,
          217.64648036001552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan 6",
        "box": [
          12.898826062734603,
          228.03986620097123,
          38.59279876073246,
          236.16416365527732
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          93.1717222687346,
          228.03986761216493,
          138.3647457328924,
          236.16416540926326
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8/1/23",
        "box": [
          200.0566738343346,
          228.03986949119712,
          225.76773597209254,
          236.16416694580357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "79",
        "box": [
          274.1488893271346,
          228.03987079373468,
          283.7066332384125,
          236.16416796436658
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "79",
        "box": [
          340.19007986633466,
          228.0398719547356,
          349.7478237776125,
          236.1641691253675
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+ 3.20%",
        "box": [
          396.2244540127346,
          228.0398729398172,
          425.73791649709256,
          236.16417046126963
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.86%",
        "box": [
          465.57909703873463,
          228.0398741590684,
          488.44476745645255,
          236.16417156365299
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8/9/28",
        "box": [
          530.1866734647347,
          228.03987529486648,
          555.8977356024925,
          236.16417274947293
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Texas",
        "box": [
          597.6235015843346,
          228.03987648040265,
          620.5917086406123,
          236.16417388678985
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          653.2021573371346,
          228.0398774574727,
          697.3185460964128,
          236.16417523564388
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "58.7%",
        "box": [
          733.0003468831346,
          228.03987886032098,
          755.8660173008525,
          236.16417626490556
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan 7",
        "box": [
          12.898826105649714,
          246.54808043873123,
          38.59279880364757,
          254.67237789303726
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          93.1717223116497,
          246.54808184992487,
          138.36474577580753,
          254.67237964702326
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2/10/22",
        "box": [
          197.68314057724973,
          246.54808368723047,
          228.14506696828767,
          254.6723812253569
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "77",
        "box": [
          274.1488893700497,
          246.54808503149468,
          283.7066332813276,
          254.67238220212653
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "77",
        "box": [
          340.19007990924973,
          246.5480861924956,
          349.74782382052757,
          254.67238336312744
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+ 3.20%",
        "box": [
          396.2244540556497,
          246.54808717757714,
          425.73791654000763,
          254.67238469902964
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.86%",
        "box": [
          465.5790970816497,
          246.5480883968284,
          488.44476749936763,
          254.672385801413
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2/9/27",
        "box": [
          530.1866735076497,
          246.54808953262648,
          555.8977356454077,
          254.67238698723293
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Florida",
        "box": [
          595.7246749872497,
          246.5480906847813,
          622.2474855136078,
          254.6723881536583
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          653.2021573800497,
          246.54809169523264,
          697.318546139328,
          254.67238947340388
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "74.5%",
        "box": [
          733.0003469260497,
          246.54809309808093,
          755.8660173437677,
          254.67239050266556
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan 8",
        "box": [
          12.89882614858681,
          265.0657763436212,
          38.592798846584664,
          273.1900737979273
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          93.1717223545868,
          265.06577775481486,
          138.3647458187446,
          273.19007555191325
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3/7/24",
        "box": [
          200.0566739201868,
          265.0657796338471,
          225.76773605794475,
          273.19007708845356
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "75",
        "box": [
          274.1488894129868,
          265.0657809363846,
          283.7066333242647,
          273.1900781070166
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "75",
        "box": [
          340.19007995218686,
          265.0657820973855,
          349.7478238634647,
          273.1900792680175
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+ 2.70%",
        "box": [
          396.2244540985868,
          265.06578308246714,
          425.73791658294476,
          273.1900806039196
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.36%",
        "box": [
          465.57909712458684,
          265.0657843017184,
          488.44476754230476,
          273.190081706303
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3/9/29",
        "box": [
          530.1866735505869,
          265.0657854375164,
          555.8977356883447,
          273.1900828921229
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "North Carolina",
        "box": [
          581.4834752301869,
          265.0657863393117,
          636.4772923967048,
          273.1900843087076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Industrial",
        "box": [
          656.9998107029868,
          265.0657876668852,
          692.8534553383048,
          273.19008529979783
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "58.6%",
        "box": [
          733.0003469689868,
          265.065789002971,
          755.8660173867047,
          273.19008640755555
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan 9",
        "box": [
          12.89882619150192,
          283.5739905813813,
          38.592798889499775,
          291.69828803568726
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          93.17172239750191,
          283.57399199257486,
          138.36474586165974,
          291.69828978967325
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3/31/21",
        "box": [
          197.68314066310194,
          283.5739938298805,
          228.14506705413987,
          291.69829136800695
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "74",
        "box": [
          274.1488894559019,
          283.57399517414467,
          283.7066333671798,
          291.6982923447766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "74",
        "box": [
          340.19007999510194,
          283.5739963351456,
          349.7478239063798,
          291.6982935057775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+ 2.20%",
        "box": [
          396.2244541415019,
          283.57399732022714,
          425.73791662585984,
          291.6982948416796
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.86%",
        "box": [
          465.5790971675019,
          283.57399853947845,
          488.44476758521984,
          291.69829594406303
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4/9/26",
        "box": [
          530.186673593502,
          283.57399967527647,
          555.8977357312599,
          291.6982971298829
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Texas",
        "box": [
          597.6235017131019,
          283.5740008608126,
          620.5917087693797,
          291.6982982671998
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          653.2021574659019,
          283.5740018378827,
          697.3185462251802,
          291.6982996160539
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "72.6%",
        "box": [
          733.0003470119019,
          283.574003240731,
          755.8660174296199,
          291.6983006453156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan 10",
        "box": [
          12.898826234439015,
          302.0916864862712,
          43.34366318571687,
          310.2159840240972
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          93.17172244043901,
          302.0916878974649,
          138.36474590459682,
          310.21598569456324
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2/9/26",
        "box": [
          200.056674006039,
          302.0916897764971,
          225.76773614379695,
          310.21598723110355
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "73",
        "box": [
          274.148889498839,
          302.09169107903466,
          283.7066334101169,
          310.21598824966657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "73",
        "box": [
          340.19008003803907,
          302.09169224003557,
          349.7478239493169,
          310.2159894106675
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+ 3.50%",
        "box": [
          396.224454184439,
          302.0916932251172,
          425.73791666879697,
          310.2159907465696
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.16%",
        "box": [
          465.57909721043904,
          302.0916944443684,
          488.44476762815697,
          310.21599184895297
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2/9/31",
        "box": [
          530.1866736364391,
          302.09169558016646,
          555.8977357741969,
          310.2159930347729
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Florida",
        "box": [
          595.7246751160391,
          302.09169673232134,
          622.247485642397,
          310.21599420119827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          653.202157508839,
          302.0916977427727,
          697.3185462681172,
          310.21599552094386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "62.9%",
        "box": [
          733.000347054839,
          302.09169914562096,
          755.8660174725569,
          310.21599655020555
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan 11",
        "box": [
          12.898826277354125,
          320.5999007240313,
          43.34366322863198,
          328.7241982618573
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          93.17172248335412,
          320.5999021352249,
          138.36474594751195,
          328.72419993232324
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9/6/24",
        "box": [
          200.05667404895414,
          320.59990401425716,
          225.76773618671206,
          328.7242014688636
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "73",
        "box": [
          274.1488895417541,
          320.59990531679466,
          283.706633453032,
          328.7242024874266
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "73",
        "box": [
          340.19008008095415,
          320.59990647779557,
          349.747823992232,
          328.72420364842753
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+ 2.75%",
        "box": [
          396.2244542273541,
          320.5999074628772,
          425.73791671171205,
          328.7242049843296
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.41%",
        "box": [
          465.5790972533541,
          320.59990868212844,
          488.44476767107204,
          328.724206086713
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9/9/28",
        "box": [
          530.1866736793542,
          320.59990981792646,
          555.8977358171121,
          328.7242072725329
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Florida",
        "box": [
          595.7246751589541,
          320.5999109700814,
          622.2474856853122,
          328.72420843895827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          653.2021575517541,
          320.59991198053274,
          697.3185463110324,
          328.72420975870386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "72.7%",
        "box": [
          733.0003470977541,
          320.599913383381,
          755.8660175154721,
          328.7242107879656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan 12",
        "box": [
          12.89882632029122,
          339.11759662892126,
          43.34366327156908,
          347.2418941667472
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          93.17172252629122,
          339.1175980401149,
          138.36474599044902,
          347.2418958372133
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2/29/24",
        "box": [
          197.68314079189122,
          339.1175998774205,
          228.14506718292918,
          347.24189741554693
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "67",
        "box": [
          274.14888958469123,
          339.1176012216847,
          283.70663349596913,
          347.24189839231656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "67",
        "box": [
          340.1900801238913,
          339.1176023826856,
          349.7478240351691,
          347.24189955331747
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+ 3.25%",
        "box": [
          396.22445427029123,
          339.1176033677672,
          425.7379167546492,
          347.24190088921966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.25%",
        "box": [
          465.57909729629125,
          339.11760458701843,
          488.4447677140092,
          347.241901991603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3/9/29",
        "box": [
          530.1866737222913,
          339.1176057228165,
          555.8977358600491,
          347.24190317742296
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Florida",
        "box": [
          595.7246752018913,
          339.11760687497133,
          622.2474857282492,
          347.2419043438483
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          653.2021575946912,
          339.1176078854227,
          697.3185463539694,
          347.2419056635939
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "58.7%",
        "box": [
          733.0003471406912,
          339.11760928827096,
          755.8660175584091,
          347.2419066928556
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan 13",
        "box": [
          12.898826363206332,
          357.62581086668126,
          43.34366331448419,
          365.7501084045072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          93.17172256920632,
          357.62581227787484,
          138.36474603336416,
          365.75011007497324
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6/14/22",
        "box": [
          197.68314083480635,
          357.6258141151805,
          228.1450672258443,
          365.75011165330693
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "64",
        "box": [
          274.1488896276063,
          357.62581545944465,
          283.7066335388842,
          365.75011263007656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "64",
        "box": [
          340.19008016680635,
          357.62581662044556,
          349.7478240780842,
          365.75011379107747
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+ 3.45%",
        "box": [
          396.2244543132063,
          357.6258176055272,
          425.73791679756425,
          365.7501151269796
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.11%",
        "box": [
          465.5790973392063,
          357.62581882477843,
          488.44476775692425,
          365.750116229363
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6/9/27",
        "box": [
          530.1866737652064,
          357.62581996057645,
          555.8977359029643,
          365.7501174151829
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Georgia",
        "box": [
          594.3005552648063,
          357.6258210876954,
          623.6858469509642,
          365.7501186068946
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          653.2021576376063,
          357.6258221231827,
          697.3185463968846,
          365.75011990135386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "71.6%",
        "box": [
          733.0003471836063,
          357.625823526031,
          755.8660176013243,
          365.7501209306156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan 14",
        "box": [
          12.898826406132436,
          376.13876593800626,
          43.34366335741029,
          384.26306347583227
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          93.17172261213243,
          376.1387673491999,
          138.36474607629026,
          384.26306514629823
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1/24/25",
        "box": [
          197.68314087773246,
          376.13876918650556,
          228.1450672687704,
          384.2630667246319
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "60",
        "box": [
          274.1488896705324,
          376.13877053076965,
          283.7066335818103,
          384.26306770140155
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "60",
        "box": [
          340.19008020973246,
          376.1387716917706,
          349.7478241210103,
          384.2630688624025
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+ 2.50%",
        "box": [
          396.2244543561324,
          376.13877267685217,
          425.73791684049036,
          384.2630701983046
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.16%",
        "box": [
          465.57909738213243,
          376.13877389610343,
          488.44476779985035,
          384.263071300688
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2/9/29",
        "box": [
          530.1866738081325,
          376.13877503190145,
          555.8977359458904,
          384.2630724865079
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Texas",
        "box": [
          597.6235019277324,
          376.1387762174376,
          620.5917089840102,
          384.2630736238248
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          653.2021576805324,
          376.1387771945077,
          697.3185464398107,
          384.2630749726789
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "86.7%",
        "box": [
          733.0003472265324,
          376.138778597356,
          755.8660176442504,
          384.2630760019406
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan 15",
        "box": [
          12.898826449058538,
          394.65172100933125,
          43.343663400336396,
          402.77601854715726
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Loan",
        "box": [
          93.17172265505853,
          394.6517224205249,
          138.36474611921636,
          402.7760202176233
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8/23/22",
        "box": [
          197.68314092065856,
          394.65172425783055,
          228.1450673116965,
          402.7760217959569
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "57",
        "box": [
          274.1488897134585,
          394.6517256020947,
          283.7066336247364,
          402.7760227727266
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "57",
        "box": [
          340.19008025265856,
          394.6517267630956,
          349.7478241639364,
          402.7760239337275
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+ 6.70%",
        "box": [
          396.2244543990585,
          394.65172774817717,
          425.73791688341646,
          402.77602526962966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10.36%",
        "box": [
          463.2055641250585,
          394.65172892570183,
          490.8220987960565,
          402.7760264138064
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4/9/26",
        "box": [
          530.1866738510586,
          394.6517301032265,
          555.8977359888165,
          402.77602755783295
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "North Carolina",
        "box": [
          581.4834755306586,
          394.65173100502176,
          636.4772926971766,
          402.7760289744176
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          653.2021577234585,
          394.6517322658327,
          697.3185464827368,
          402.7760300440039
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "46.5%",
        "box": [
          733.0003472694585,
          394.651733668681,
          755.8660176871765,
          402.7760310732656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans 16 - 177",
        "box": [
          12.898826491984641,
          413.16467608065625,
          69.45632739654248,
          421.28897407754164
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior & Mezz Loans",
        "box": [
          93.17172269798463,
          413.1646774918499,
          172.15056856766242,
          421.28897588290135
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Various",
        "box": [
          198.63255428358465,
          413.16467934584614,
          227.77859381310247,
          421.28897686083934
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,447",
        "box": [
          268.4619039695846,
          413.16468057344275,
          289.41355713418255,
          421.288977944379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,435",
        "box": [
          334.49360037558466,
          413.16468173427677,
          355.4452535401826,
          421.288979105213
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+ 3.37%",
        "box": [
          396.2244544419846,
          413.16468281950216,
          425.73791692634256,
          421.2889803409546
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.11%",
        "box": [
          465.57909746798464,
          413.1646840387534,
          488.44476788570256,
          421.288981443338
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Various",
        "box": [
          528.7625539139847,
          413.16468514951555,
          557.9085934435026,
          421.2889826645087
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Various",
        "box": [
          594.7752620535846,
          413.1646863100157,
          623.9213015831026,
          421.2889838250089
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Various",
        "box": [
          660.8069584595846,
          413.1646874708497,
          689.9529979891025,
          421.2889849858429
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "65.0%",
        "box": [
          733.0003473123846,
          413.164688740006,
          755.8660177301026,
          421.2889861445906
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total/Wtd. avg.",
        "box": [
          12.898826534910745,
          431.67763115198125,
          71.3874341323486,
          439.80192918281534
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,609",
        "box": [
          265.6041699193108,
          431.6776355945289,
          292.34059844266864,
          439.80193306716126
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,596",
        "box": [
          331.61687805891074,
          431.67763675502914,
          358.3533065822686,
          439.8019342276615
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+ 3.28%",
        "box": [
          396.2244544849107,
          431.6776378908272,
          425.8062747283086,
          439.8019354134814
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.01%",
        "box": [
          465.57909751091074,
          431.6776391100784,
          488.52167040754864,
          439.80193651601496
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.4 years",
        "box": [
          525.9143139969108,
          431.6776401707686,
          560.2299090538287,
          439.8019377766423
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "64.8%",
        "box": [
          733.0003473553107,
          431.677643811331,
          755.9429202519487,
          439.80194121726754
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Average Loan Size",
        "box": [
          12.89882660977057,
          463.96280254630256,
          82.3844886927684,
          472.08710077046436
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$26",
        "box": [
          271.7753565741706,
          463.96280709733935,
          286.64316918420843,
          472.087104361322
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$26",
        "box": [
          337.8165471133706,
          463.9628082583403,
          352.6843597234085,
          472.087105522323
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 20,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20",
        "box": [
          747.34,
          589.218,
          756.42654,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk Rating",
        "box": [
          62.05942131490015,
          337.69714565976,
          110.99565008085548,
          346.9856441426747
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Principal Balance",
        "box": [
          71.07409289986276,
          375.1954272348,
          145.064264723389,
          384.48392571771467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          220.30809977379278,
          375.1954272348,
          224.71157940273298,
          384.48392571771467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,180",
        "box": [
          328.3043570825128,
          375.1954272348,
          351.76679885033786,
          384.48392571771467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "965",
        "box": [
          443.80201924129284,
          375.1954272348,
          459.7876779472807,
          384.48392571771467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "281",
        "box": [
          555.5439846975128,
          375.1954272348,
          571.5296434035007,
          384.48392571771467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "183",
        "box": [
          667.3159158189129,
          375.1954272348,
          683.3015745249007,
          384.48392571771467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Count, 4Q25",
        "box": [
          71.07409354283291,
          412.6737469884,
          147.08537456858718,
          421.96224547131465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          220.30810041676295,
          412.6737469884,
          224.56512285713586,
          421.96224547131465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "137",
        "box": [
          332.05006587298294,
          412.6737469884,
          348.1421776045229,
          421.96224547131465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "22",
        "box": [
          446.0694218828829,
          412.6737469884,
          456.91769203624875,
          421.96224547131465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6",
        "box": [
          560.8179424121629,
          412.6737469884,
          566.4223709873546,
          421.96224547131465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          672.559907868383,
          412.6737469884,
          678.1643364435747,
          421.96224547131465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(+) Addition",
        "box": [
          71.07409386474606,
          431.437859142,
          119.31709193814976,
          440.72635762491467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          220.3081007386761,
          431.437859142,
          224.71158036761625,
          440.72635762491467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16",
        "box": [
          334.2974910833961,
          431.437859142,
          345.0388337548446,
          440.72635762491467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5",
        "box": [
          449.0659887227961,
          431.437859142,
          454.5630153597051,
          440.72635762491467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          560.817942734076,
          431.437859142,
          566.3149693709851,
          440.72635762491467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          672.5599081902961,
          431.437859142,
          678.0569348272052,
          440.72635762491467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(-) Reduction",
        "box": [
          71.07409418623114,
          450.1770190188,
          126.77664506399341,
          459.46551750171466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          220.30810106016116,
          450.1770190188,
          224.7115806891013,
          459.46551750171466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(13)",
        "box": [
          332.7992081458812,
          450.1770190188,
          349.57156544839467,
          459.46551750171466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1)",
        "box": [
          447.5677057852812,
          450.1770190188,
          459.08775620920716,
          459.46551750171466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          555.5439859838812,
          450.1770190188,
          559.9474656128214,
          459.46551750171466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1)",
        "box": [
          671.0616252527813,
          450.1770190188,
          682.5816756767074,
          459.46551750171466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Count, 1Q26",
        "box": [
          71.0740945081443,
          468.9411311724,
          147.08537553389857,
          478.2296296553147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          220.3081013820743,
          468.9411311724,
          224.56512382244722,
          478.2296296553147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "140",
        "box": [
          332.05006683829436,
          468.9411311724,
          348.14217856983424,
          478.2296296553147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "26",
        "box": [
          446.06942284819434,
          468.9411311724,
          456.9176930015601,
          478.2296296553147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7",
        "box": [
          560.8179433774743,
          468.9411311724,
          566.4223719526659,
          478.2296296553147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          672.5599088336944,
          468.9411311724,
          678.1643374088861,
          478.2296296553147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Change QoQ",
        "box": [
          71.07409482962936,
          487.68029104920004,
          124.31616493946184,
          496.96878953211467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          220.30810170355937,
          487.68029104920004,
          224.71158133249958,
          496.96878953211467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3",
        "box": [
          337.3140356763994,
          487.68029104920004,
          342.8110623133084,
          496.96878953211467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          449.0659896876794,
          487.68029104920004,
          454.56301632458843,
          496.96878953211467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          560.8179436989594,
          487.68029104920004,
          566.3149703358683,
          496.96878953211467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          667.3159177486795,
          487.68029104920004,
          671.7193973776197,
          496.96878953211467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Non-Performing",
        "box": [
          71.07409537028936,
          519.1950166476,
          141.01228497678835,
          528.4835151305147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          220.30810224421936,
          519.1950166476,
          224.71158187315956,
          528.4835151305147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          332.0500677004394,
          519.1950166476,
          336.4535473293796,
          528.4835151305147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          449.0659902283394,
          519.1950166476,
          454.5630168652484,
          528.4835151305147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          560.8179442396194,
          519.1950166476,
          566.3149708765284,
          528.4835151305147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          672.5599096958395,
          519.1950166476,
          678.0569363327485,
          528.4835151305147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Watch List",
        "box": [
          71.07409562756303,
          534.1913350044,
          116.29031180391021,
          543.4798334873146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          220.30810250149307,
          534.1913350044,
          224.71158213043321,
          543.4798334873146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          332.05006795771305,
          534.1913350044,
          336.45354758665326,
          543.4798334873146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          443.8020219689931,
          534.1913350044,
          448.2055015979332,
          543.4798334873146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7",
        "box": [
          560.817944496893,
          534.1913350044,
          566.314971133802,
          543.4798334873146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          672.5599099531131,
          534.1913350044,
          678.0569365900221,
          543.4798334873146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.0%",
        "box": [
          215.96307726705737,
          313.66311264600006,
          235.83243600869906,
          322.9516111289147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "69.0%",
        "box": [
          324.65853086834915,
          164.34744066096005,
          349.74578591598925,
          173.612183393279
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20.9%",
        "box": [
          436.3605438885714,
          268.3497779772,
          461.47306998092085,
          277.63827646011464
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.1%",
        "box": [
          551.0491336388318,
          300.48706288176004,
          570.896892129749,
          309.751805614079
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4.0%",
        "box": [
          662.7511449532568,
          305.05956760536003,
          682.6205036948986,
          314.34806608827466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          223.1248716368525,
          336.49943637336,
          228.7293002120441,
          345.78793485627466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          334.8268828728325,
          336.49943637336,
          340.43131144802413,
          345.78793485627466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3",
        "box": [
          446.5189055537525,
          336.49943637336,
          452.1233341289442,
          345.78793485627466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          558.2408938998525,
          336.49943637336,
          563.8453224750441,
          345.78793485627466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5",
        "box": [
          669.9429051358326,
          336.49943637336,
          675.5473337110242,
          345.78793485627466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Average risk rating was 2.5 for the quarter vs. 2.4 from 4Q25",
        "box": [
          35.256,
          67.45000000000005,
          413.54975999999994,
          80.81674568965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Core Portfolio ",
        "box": [
          34.872,
          39.74000000000001,
          189.72000000000003,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          189.94,
          39.74000000000001,
          206.524,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Risk Ratings",
        "box": [
          206.5,
          39.74000000000001,
          347.47600000000006,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: Principal balance in millions. Watchlist loans are loans with a risk rating of 4 or 5. ",
        "box": [
          36.12,
          577.284,
          291.84023999999954,
          583.4532672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Appendix",
        "box": [
          35.496,
          23.379999999999995,
          81.51071999999999,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk Ratings",
        "box": [
          59.832,
          104.75200000000001,
          138.970128,
          118.14159482758623
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk Rating",
        "box": [
          62.05942131490015,
          337.81314565976,
          110.99565008085548,
          347.1016441426747
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Principal Balance",
        "box": [
          71.07409289986276,
          375.31142723479996,
          145.064264723389,
          384.59992571771465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          220.30809977379278,
          375.31142723479996,
          224.71157940273298,
          384.59992571771465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,180",
        "box": [
          328.3043570825128,
          375.31142723479996,
          351.76679885033786,
          384.59992571771465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "965",
        "box": [
          443.80201924129284,
          375.31142723479996,
          459.7876779472807,
          384.59992571771465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "281",
        "box": [
          555.5439846975128,
          375.31142723479996,
          571.5296434035007,
          384.59992571771465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "183",
        "box": [
          667.3159158189129,
          375.31142723479996,
          683.3015745249007,
          384.59992571771465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Count, 4Q25",
        "box": [
          71.07409354283291,
          412.7897469884,
          147.08537456858718,
          422.0782454713147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          220.30810041676295,
          412.7897469884,
          224.56512285713586,
          422.0782454713147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "137",
        "box": [
          332.05006587298294,
          412.7897469884,
          348.1421776045229,
          422.0782454713147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "22",
        "box": [
          446.0694218828829,
          412.7897469884,
          456.91769203624875,
          422.0782454713147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6",
        "box": [
          560.8179424121629,
          412.7897469884,
          566.4223709873546,
          422.0782454713147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          672.559907868383,
          412.7897469884,
          678.1643364435747,
          422.0782454713147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(+) Addition",
        "box": [
          71.07409386474606,
          431.553859142,
          119.31709193814976,
          440.84235762491465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          220.3081007386761,
          431.553859142,
          224.71158036761625,
          440.84235762491465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16",
        "box": [
          334.2974910833961,
          431.553859142,
          345.0388337548446,
          440.84235762491465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5",
        "box": [
          449.0659887227961,
          431.553859142,
          454.5630153597051,
          440.84235762491465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          560.817942734076,
          431.553859142,
          566.3149693709851,
          440.84235762491465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          672.5599081902961,
          431.553859142,
          678.0569348272052,
          440.84235762491465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(-) Reduction",
        "box": [
          71.07409418623114,
          450.2930190188,
          126.77664506399341,
          459.58151750171464
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          220.30810106016116,
          450.2930190188,
          224.7115806891013,
          459.58151750171464
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(13)",
        "box": [
          332.7992081458812,
          450.2930190188,
          349.57156544839467,
          459.58151750171464
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1)",
        "box": [
          447.5677057852812,
          450.2930190188,
          459.08775620920716,
          459.58151750171464
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          555.5439859838812,
          450.2930190188,
          559.9474656128214,
          459.58151750171464
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1)",
        "box": [
          671.0616252527813,
          450.2930190188,
          682.5816756767074,
          459.58151750171464
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Count, 1Q26",
        "box": [
          71.0740945081443,
          469.0571311724,
          147.08537553389857,
          478.34562965531467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          220.3081013820743,
          469.0571311724,
          224.56512382244722,
          478.34562965531467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "140",
        "box": [
          332.05006683829436,
          469.0571311724,
          348.14217856983424,
          478.34562965531467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "26",
        "box": [
          446.06942284819434,
          469.0571311724,
          456.9176930015601,
          478.34562965531467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7",
        "box": [
          560.8179433774743,
          469.0571311724,
          566.4223719526659,
          478.34562965531467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          672.5599088336944,
          469.0571311724,
          678.1643374088861,
          478.34562965531467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Change QoQ",
        "box": [
          71.07409482962936,
          487.7962910492,
          124.31616493946184,
          497.08478953211466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          220.30810170355937,
          487.7962910492,
          224.71158133249958,
          497.08478953211466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3",
        "box": [
          337.3140356763994,
          487.7962910492,
          342.8110623133084,
          497.08478953211466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          449.0659896876794,
          487.7962910492,
          454.56301632458843,
          497.08478953211466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          560.8179436989594,
          487.7962910492,
          566.3149703358683,
          497.08478953211466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          667.3159177486795,
          487.7962910492,
          671.7193973776197,
          497.08478953211466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Non-Performing",
        "box": [
          71.07409537028936,
          519.3110166476,
          141.01228497678835,
          528.5995151305146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          220.30810224421936,
          519.3110166476,
          224.71158187315956,
          528.5995151305146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          332.0500677004394,
          519.3110166476,
          336.4535473293796,
          528.5995151305146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          449.0659902283394,
          519.3110166476,
          454.5630168652484,
          528.5995151305146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          560.8179442396194,
          519.3110166476,
          566.3149708765284,
          528.5995151305146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          672.5599096958395,
          519.3110166476,
          678.0569363327485,
          528.5995151305146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Watch List",
        "box": [
          71.07409562756303,
          534.3073350044,
          116.29031180391021,
          543.5958334873146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          220.30810250149307,
          534.3073350044,
          224.71158213043321,
          543.5958334873146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          332.05006795771305,
          534.3073350044,
          336.45354758665326,
          543.5958334873146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          443.8020219689931,
          534.3073350044,
          448.2055015979332,
          543.5958334873146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7",
        "box": [
          560.817944496893,
          534.3073350044,
          566.314971133802,
          543.5958334873146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          672.5599099531131,
          534.3073350044,
          678.0569365900221,
          543.5958334873146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.0%",
        "box": [
          215.96307726705737,
          313.77911264600004,
          235.83243600869906,
          323.0676111289147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "69.0%",
        "box": [
          324.65853086834915,
          164.46344066096003,
          349.74578591598925,
          173.72818339327898
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20.9%",
        "box": [
          436.3605438885714,
          268.4657779772,
          461.47306998092085,
          277.7542764601146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.1%",
        "box": [
          551.0491336388318,
          300.60306288176,
          570.896892129749,
          309.867805614079
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4.0%",
        "box": [
          662.7511449532568,
          305.17556760536,
          682.6205036948986,
          314.4640660882747
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          223.1248716368525,
          336.61543637336,
          228.7293002120441,
          345.9039348562747
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          334.8268828728325,
          336.61543637336,
          340.43131144802413,
          345.9039348562747
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3",
        "box": [
          446.5189055537525,
          336.61543637336,
          452.1233341289442,
          345.9039348562747
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          558.2408938998525,
          336.61543637336,
          563.8453224750441,
          345.9039348562747
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5",
        "box": [
          669.9429051358326,
          336.61543637336,
          675.5473337110242,
          345.9039348562747
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 21,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "21",
        "box": [
          747.34,
          589.218,
          756.42654,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.17 ",
        "box": [
          108.48114492794025,
          181.73421263133503,
          138.0608522099559,
          191.71139261394785
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.11 ",
        "box": [
          243.29308389516473,
          284.66616530656626,
          272.88013365790033,
          294.66710047961396
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.06 ",
        "box": [
          378.1050225075254,
          347.64422689126627,
          407.6920722702611,
          357.6451620643139
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.00 ",
        "box": [
          512.9169608517298,
          380.43074548171626,
          542.5040106144654,
          390.4316806547639
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($0.02)",
        "box": [
          643.9627559204459,
          389.3834112886062,
          678.4809806288331,
          399.38434646165393
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-1.00%",
        "box": [
          105.08462595168294,
          476.68936908768126,
          138.42525664319805,
          486.6903042607289
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-0.75%",
        "box": [
          239.89656400468294,
          476.68936908768126,
          273.237194696198,
          486.6903042607289
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-0.50%",
        "box": [
          374.70850205768295,
          476.68936908768126,
          408.0491327491982,
          486.6903042607289
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3/31/2026",
        "box": [
          500.94921796548294,
          476.68936908768126,
          551.1757057203592,
          486.6903042607289
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+0.25%",
        "box": [
          643.762961307883,
          476.68936908768126,
          678.5860987527815,
          486.6903042607289
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Change in Floating Base Rate Indices",
        "box": [
          309.9048681757377,
          500.99231361363127,
          485.2191775263832,
          510.9932487866789
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Core Portfolio ",
        "box": [
          34.872,
          39.74000000000001,
          189.72000000000003,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          189.94,
          39.74000000000001,
          206.524,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Earnings Sensitivity",
        "box": [
          206.5,
          39.74000000000001,
          425.5960000000002,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: Reflects earnings impact of an increase or decrease in the floating-rate indices referenced by our portfolio, assuming no change in credit spreads, portfolio composition or asset performance.",
        "box": [
          36.12,
          577.284,
          608.9116000000006,
          583.4532672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Appendix",
        "box": [
          35.496,
          23.379999999999995,
          81.51071999999999,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Annual EPS Sensitivity on Index Rates",
        "box": [
          48.0,
          106.21000000000004,
          286.7361599999999,
          119.57674568965518
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Positive earnings correlation to falling rates due to rate floor activations ",
        "box": [
          35.256,
          67.45000000000005,
          489.25344,
          80.81674568965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of 3/31/26",
        "box": [
          494.09,
          236.332,
          556.7895200000002,
          245.83724137931034
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1M SOFR: 3.66%",
        "box": [
          488.57,
          251.36999999999995,
          562.48316,
          260.8523922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of 4/15/26",
        "box": [
          494.09,
          169.76999999999998,
          556.7583200000001,
          179.2523922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1M SOFR: 3.67%",
        "box": [
          488.57,
          184.76999999999998,
          562.48316,
          194.2523922413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 22,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "22",
        "box": [
          747.34,
          589.218,
          756.42654,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Core Portfolio ",
        "box": [
          34.872,
          39.74000000000001,
          189.72000000000003,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          189.94,
          39.74000000000001,
          206.524,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Fully Extended Maturities",
        "box": [
          206.5,
          39.74000000000001,
          485.30800000000016,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: All numbers in millions. ",
        "box": [
          36.12,
          577.284,
          123.23063999999995,
          583.4532672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Appendix",
        "box": [
          35.496,
          23.379999999999995,
          81.51071999999999,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fully Extended Maturity by Year",
        "box": [
          48.0,
          106.21000000000004,
          246.46943999999993,
          119.57674568965518
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$731",
        "box": [
          102.20634101919171,
          316.918422246875,
          124.94725854973079,
          326.4499479072259
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$806",
        "box": [
          212.6094766170227,
          299.74139876367497,
          235.3503941475617,
          309.272924424026
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$985",
        "box": [
          323.00261896170656,
          258.746235159875,
          345.74353649224554,
          268.277760820226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,312",
        "box": [
          429.4085369697878,
          183.87638338455503,
          460.14383869511335,
          193.40790904490592
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$529",
        "box": [
          543.798898341163,
          363.20525754728,
          566.5130844822695,
          372.71301381695673
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$246",
        "box": [
          654.2020346633822,
          428.01356795090004,
          676.9162208044887,
          437.52132422057673
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2026 ROY",
        "box": [
          91.2389783366512,
          507.138977360975,
          136.06964166857404,
          516.6705030213259
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2027",
        "box": [
          212.67942974840125,
          507.138977360975,
          235.42034727894023,
          516.6705030213259
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2028",
        "box": [
          323.0725724553012,
          507.138977360975,
          345.8134899858402,
          516.6705030213259
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2029",
        "box": [
          433.47570820490125,
          507.138977360975,
          456.21662573544023,
          516.6705030213259
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2030",
        "box": [
          543.8788439545012,
          507.138977360975,
          566.6197614850404,
          516.6705030213259
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2031",
        "box": [
          654.2719866614012,
          507.138977360975,
          677.0129041919405,
          516.6705030213259
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 23,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "23",
        "box": [
          747.34,
          589.218,
          756.42654,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          461.07783992985003,
          137.33259327612825,
          511.09779991935,
          146.8363842878182
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "91%",
        "box": [
          461.07783992985003,
          149.34150706806827,
          479.48838009365005,
          158.84529531196085
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Hospitality",
        "box": [
          311.911530104875,
          132.69073074406515,
          359.844829088825,
          142.19452157304198
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6%",
        "box": [
          346.90054203765,
          144.6509830488252,
          359.78874383428587,
          154.17853027574807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "All Other",
        "box": [
          372.12018653535006,
          119.64489294721835,
          410.54467614926017,
          129.17244241016033
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3%",
        "box": [
          397.6293677276,
          131.65380897280397,
          410.5175695242359,
          141.1813561997268
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4Q25",
        "box": [
          295.25175849087066,
          405.263718322725,
          322.0454179011373,
          415.7291966917547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Provision/",
        "box": [
          361.7542502841232,
          390.75647477812504,
          414.2288388043442,
          401.2219531471547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(Benefit)",
        "box": [
          366.7406883741507,
          405.263718322725,
          409.34392876802286,
          415.7291966917547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Write offs",
        "box": [
          443.7356848447506,
          405.263718322725,
          491.4068048570608,
          415.7291966917547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1Q26",
        "box": [
          533.7513796153107,
          405.263718322725,
          560.5450390255772,
          415.7291966917547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "UPB",
        "box": [
          615.7428067459107,
          405.263718322725,
          637.2372268160279,
          415.7291966917547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As % of",
        "box": [
          688.2410153311632,
          390.75647477812504,
          723.5729501855374,
          401.2219531471547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total UPB",
        "box": [
          681.2460126985108,
          405.263718322725,
          730.7129248364847,
          415.7291966917547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "General CECL Provision",
        "box": [
          47.74856981930952,
          430.27001853568504,
          165.30134291803762,
          440.7354969047147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$34.5",
        "box": [
          292.24390773574953,
          430.27001853568504,
          321.0426847341808,
          440.7354969047147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($1.3)",
        "box": [
          374.2453277276695,
          430.27001853568504,
          402.8898649116266,
          440.7354969047147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "     -",
        "box": [
          453.2588821849095,
          430.27001853568504,
          470.7198086939755,
          440.7354969047147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$33.2",
        "box": [
          530.7535217215095,
          430.27001853568504,
          559.552298719941,
          440.7354969047147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,447",
        "box": [
          608.7478043241096,
          430.27001853568504,
          641.4135938140014,
          440.7354969047147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.7%",
        "box": [
          694.2367329167096,
          430.27001853568504,
          718.3532298328885,
          440.7354969047147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Specific CECL Provision",
        "box": [
          47.74857050202371,
          464.264827377825,
          166.79967322707262,
          474.7303057468547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4.1",
        "box": [
          300.74783340178374,
          464.264827377825,
          316.55741459556634,
          474.7303057468547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14.8",
        "box": [
          377.73283701106374,
          464.264827377825,
          398.9077603226274,
          474.7303057468547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(2.6)",
        "box": [
          458.7549565936237,
          464.264827377825,
          480.91040444005915,
          474.7303057468547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16.3",
        "box": [
          536.2495961302237,
          464.264827377825,
          558.548266661528,
          474.7303057468547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$162",
        "box": [
          612.7449495348237,
          464.264827377825,
          637.4233200608729,
          474.7303057468547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.4%",
        "box": [
          694.2367335994238,
          464.264827377825,
          718.3532305156026,
          474.7303057468547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Allowance for Credit Losses",
        "box": [
          48.24821425083802,
          498.26462152702504,
          212.656839560907,
          508.7300998960547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$38.6",
        "box": [
          292.243909101278,
          498.26462152702504,
          321.0426860997093,
          508.7300998960547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.5",
        "box": [
          372.74639989519807,
          498.26462152702504,
          400.41041254428336,
          508.7300998960547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($2.6)",
        "box": [
          453.7585266164381,
          498.26462152702504,
          482.4030638003951,
          508.7300998960547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$49.5",
        "box": [
          530.753523087038,
          498.26462152702504,
          559.5523000854694,
          508.7300998960547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,609",
        "box": [
          608.7478056896381,
          498.26462152702504,
          641.4135951795298,
          508.7300998960547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.1%",
        "box": [
          694.2367342822381,
          498.26462152702504,
          718.3532311984169,
          508.7300998960547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As % of Total UPB",
        "box": [
          47.74857184762845,
          531.267354264225,
          135.66526630809955,
          541.7328326332547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.9%",
        "box": [
          295.75140408738844,
          531.267354264225,
          319.8679010035672,
          541.7328326332547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.3%",
        "box": [
          375.73426609266846,
          531.267354264225,
          398.76006717792256,
          541.7328326332547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-0.1%",
        "box": [
          452.75924114722847,
          531.267354264225,
          480.78681907328877,
          541.7328326332547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.1%",
        "box": [
          534.2510252118285,
          531.267354264225,
          558.3675221280073,
          541.7328326332547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Core Portfolio ",
        "box": [
          34.872,
          39.74000000000001,
          189.72000000000003,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          189.94,
          39.74000000000001,
          206.524,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Allowance For Loan Loss",
        "box": [
          206.5,
          39.74000000000001,
          481.78000000000003,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: All numbers in millions. Allowance for loan loss above includes future funding. ",
        "box": [
          36.12,
          577.284,
          283.0922399999998,
          583.4532672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Appendix",
        "box": [
          35.496,
          23.379999999999995,
          81.51071999999999,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Allowance for Credit Loss by Collateral Type",
        "box": [
          45.768,
          91.17999999999995,
          356.403,
          104.54674568965515
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 24,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "24",
        "box": [
          747.34,
          589.218,
          756.42654,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1Q'26",
        "box": [
          430.59142962831595,
          80.20255296138362,
          454.25452724453254,
          88.95137440443307
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4Q'25",
        "box": [
          510.635947758236,
          80.20255461663305,
          534.2990453744526,
          88.95137605968262
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3Q'25",
        "box": [
          590.662079643036,
          80.20255627150232,
          614.3251772592525,
          88.95137771455177
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2Q'25",
        "box": [
          670.7157908955161,
          80.20255792694184,
          694.3788885117326,
          88.9513793699914
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP Net Income (Loss)",
        "box": [
          69.9636181144324,
          96.28413602892124,
          170.554765312729,
          105.0329590627743
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       12.3",
        "box": [
          408.0682796261124,
          96.28414302062492,
          477.70618316488907,
          105.03296541439249
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       18.4",
        "box": [
          488.09441151091244,
          96.28414467549419,
          557.7598944173691,
          105.03296706983207
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       17.6",
        "box": [
          568.1389296408324,
          96.28414633074362,
          637.7768331796091,
          105.03296872451119
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       24.4",
        "box": [
          648.1650615256325,
          96.28414798561289,
          717.8305444320891,
          105.03297037995077
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Adjustments:",
        "box": [
          69.96361853146064,
          121.14168024042118,
          124.04675869871721,
          129.89050231253003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unrealized (Gain) / Loss ",
        "box": [
          69.96361875500627,
          134.4664266754212,
          170.58234532098282,
          143.2152497098446
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1)",
        "box": [
          170.70185573087105,
          132.2839271873483,
          177.76125464009982,
          137.97066095324686
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           3.2",
        "box": [
          407.59943100070933,
          133.54748562742952,
          477.61425256444596,
          142.2963080289914
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           1.8",
        "box": [
          487.6347560080693,
          133.54748728248887,
          557.667963816926,
          142.29630968443098
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           1.9",
        "box": [
          567.6792741379893,
          133.5474889377383,
          637.6849025791659,
          142.2963113391101
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (2.5)",
        "box": [
          648.1650621507895,
          133.54749060211287,
          720.689606173406,
          142.2963130555736
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Subordinated Performance Fee ",
        "box": [
          69.96361896359747,
          146.89979352132121,
          197.71125020413402,
          155.64861711674627
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(2)",
        "box": [
          197.83995373658226,
          144.71729459444003,
          204.89935264581106,
          150.4040283603386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                          -",
        "box": [
          407.5994312093006,
          145.98085247332955,
          467.39150048631717,
          154.729674663494
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (0.3)",
        "box": [
          488.09441234466055,
          145.9808541378942,
          560.6189563672772,
          154.72967659135492
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (0.3)",
        "box": [
          568.1389304745805,
          145.98085579314363,
          640.6358951295172,
          154.72967824603404
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (0.8)",
        "box": [
          648.1650623593806,
          145.9808574480129,
          720.6896063819972,
          154.72967990147362
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Non-Cash Compensation Expense",
        "box": [
          69.96361915661755,
          158.40502285692116,
          208.5039762825941,
          167.15384667553025
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           3.1",
        "box": [
          407.5994314177376,
          158.40502983892952,
          477.61425298147424,
          167.15385224049146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           3.3",
        "box": [
          487.6347564250976,
          158.40503149398887,
          557.6679642339542,
          167.15385389593104
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           5.2",
        "box": [
          567.6792745550176,
          158.4050331492383,
          637.6849029961941,
          167.15385555061016
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           2.3",
        "box": [
          647.7054064398177,
          158.40503480410757,
          717.7386142486741,
          167.15385720604974
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Depreciation & Amortization, net",
        "box": [
          69.96361936474624,
          170.81082126192115,
          201.25060279088285,
          179.55964493053693
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           3.4",
        "box": [
          407.59943162586626,
          170.8108282439295,
          477.6142531896029,
          179.55965064549144
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           3.4",
        "box": [
          487.63475663322623,
          170.81082989898886,
          557.6679644420828,
          179.55965230093102
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           3.4",
        "box": [
          567.6792747631463,
          170.8108315542383,
          637.6849032043228,
          179.55965395561014
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           1.4",
        "box": [
          647.7054066479463,
          170.81083320910756,
          717.7386144568029,
          179.55965561104972
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Transaction-Related and Non-Recurring Items ",
        "box": [
          69.96361958875438,
          184.1631361378212,
          260.656560997611,
          192.91196103489926
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3)",
        "box": [
          260.8588095105392,
          181.980638514114,
          267.918208419768,
          187.66737228001256
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                          -",
        "box": [
          407.59943183445745,
          183.24419508982953,
          467.39150111147404,
          191.99301727999404
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                          -",
        "box": [
          487.6347568418174,
          183.24419674488888,
          547.445212363954,
          191.9930189354336
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           4.0",
        "box": [
          567.6792749717374,
          183.24419840013832,
          637.684903412914,
          191.99302080151017
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           1.8",
        "box": [
          647.7054068565376,
          183.24420005500758,
          717.738614665394,
          191.99302245694975
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(Reversal of) / Provision for Credit Loss",
        "box": [
          69.96361978146614,
          195.64998651282122,
          230.52150543864272,
          204.39881078673318
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         11.4",
        "box": [
          407.13977591458615,
          195.64999348532427,
          477.6142536063228,
          204.39881589639145
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (7.9)",
        "box": [
          488.09441317794614,
          195.64999515939422,
          560.6189572005628,
          204.39881761285494
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (0.6)",
        "box": [
          568.1389313078662,
          195.64999681464366,
          640.6358959628027,
          204.39881926753407
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (1.5)",
        "box": [
          648.1650631926663,
          195.64999846951292,
          720.6896072152828,
          204.39882092297364
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(Gain) / Loss on Debt Extinguishment Reversal",
        "box": [
          69.96361998990317,
          208.0741638784212,
          259.2867861373197,
          216.82298874717355
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                          -",
        "box": [
          407.5994322510232,
          208.07417086042955,
          467.3915015280398,
          216.822993050594
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           7.7",
        "box": [
          487.63475725838316,
          208.0741725154889,
          557.6679650672397,
          216.822994917431
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                          -",
        "box": [
          567.6792753883033,
          208.07417417073833,
          627.4621515427598,
          216.82299636071275
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                          -",
        "box": [
          647.7054072731033,
          208.0741758256076,
          707.5158627952399,
          216.82299801615227
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Income from mortgage servicing rights",
        "box": [
          69.96362019849435,
          220.50753072432116,
          227.340685449911,
          229.2563549324566
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (6.7)",
        "box": [
          408.06828171017435,
          220.5075377160249,
          480.565246365111,
          229.2563601689153
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (8.8)",
        "box": [
          488.09441359497436,
          220.50753937089416,
          560.618957617591,
          229.25636182435494
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       (19.7)",
        "box": [
          568.1389317248944,
          220.5075410261436,
          640.635896379831,
          229.256363479034
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                          -",
        "box": [
          647.7054074816945,
          220.50754267150757,
          707.5158630038311,
          229.2563648620523
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Amortization and write-offs of MSRs",
        "box": [
          69.96362040662305,
          232.91332912932114,
          219.94941511979962,
          241.66215318461167
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           9.0",
        "box": [
          407.5994326677431,
          232.9133361113295,
          477.6142542314797,
          241.66215851289144
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           9.7",
        "box": [
          487.63475767510306,
          232.91333776638885,
          557.6679654839597,
          241.66216016833096
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         15.9",
        "box": [
          567.2012334319031,
          232.91333941175282,
          637.6849042461996,
          241.66216182301014
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                          -",
        "box": [
          647.7054076898231,
          232.91334107650755,
          707.5158632119598,
          241.66216326705228
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Deferred tax adjustment",
        "box": [
          69.96362061506008,
          245.33750649492117,
          168.17374907031666,
          254.08632947953697
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           0.7",
        "box": [
          407.5994328761801,
          245.33751347692953,
          477.61425443991675,
          254.08633587849147
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           3.0",
        "box": [
          487.6347578835401,
          245.33751513198888,
          557.6679656923967,
          254.086337533931
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                          -",
        "box": [
          567.6792760134601,
          245.33751678723831,
          627.4621521679167,
          254.08633897721273
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                          -",
        "box": [
          647.7054078982602,
          245.33751844210758,
          707.5158634203967,
          254.0863406326523
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fair value adjustments on equity investments",
        "box": [
          69.96362082365127,
          257.77087334082114,
          253.99154837650792,
          266.51969810007273
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       (10.4)",
        "box": [
          408.0682823353313,
          257.77088033252494,
          480.56524699026795,
          266.51970278541535
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (2.6)",
        "box": [
          488.0944142201313,
          257.77088198739415,
          560.618958242748,
          266.5197044408549
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           0.9",
        "box": [
          567.6792762220514,
          257.77088363313834,
          637.6849046632278,
          266.51970603451014
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                          -",
        "box": [
          647.7054081068515,
          257.77088528800755,
          707.515863628988,
          266.5197074785523
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings before realized gain/(loss)",
        "box": [
          69.96362103177997,
          270.1766717458211,
          268.0202536111966,
          278.9254967951739
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       25.9",
        "box": [
          408.06828254346,
          270.17667873752487,
          477.7061860822366,
          278.9255011312925
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       27.7",
        "box": [
          488.09441442826,
          270.17668039239413,
          557.7598973347167,
          278.92550278673207
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       28.4",
        "box": [
          568.13893255818,
          270.17668204764357,
          637.7768360969566,
          278.9255044414112
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       25.1",
        "box": [
          648.1650644429801,
          270.17668370251283,
          717.8305473494366,
          278.92550609685077
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Realized Gain / (Loss) on Debt Extinguishment",
        "box": [
          69.963621240217,
          282.6008491114211,
          258.6984275437936,
          291.34967396800675
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                          -",
        "box": [
          407.59943350133705,
          282.6008560934295,
          467.39150277835364,
          291.349678283594
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (7.7)",
        "box": [
          488.094414636697,
          282.60085775799416,
          560.6189586593136,
          291.34968021145494
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                          -",
        "box": [
          567.679276638617,
          282.60085940373835,
          627.4621527930736,
          291.3496815937127
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                          -",
        "box": [
          647.7054085234171,
          282.60086105860756,
          707.5158640455537,
          291.3496832491523
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Realized Gain / (Loss) Adjustment on Loans and REO ",
        "box": [
          69.96362146376262,
          295.92559554642116,
          287.74869505693937,
          304.67442100374046
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(4)",
        "box": [
          288.0061023052274,
          293.74309848409575,
          295.0655012144562,
          299.4298322499943
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       (12.3)",
        "box": [
          408.06828296002567,
          295.00665450812494,
          480.56524761496235,
          303.75547696101535
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (2.2)",
        "box": [
          488.0944148448257,
          295.00665616299415,
          560.6189588674424,
          303.7554786164549
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (1.7)",
        "box": [
          568.1389329747458,
          295.00665781824364,
          640.6358976296823,
          303.75548027113405
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           3.9",
        "box": [
          647.7054087315458,
          295.00665946360755,
          717.7386165404023,
          303.7554818655497
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings",
        "box": [
          69.96362165693688,
          307.4400143623211,
          159.7252704795535,
          316.1888371722299
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       13.5",
        "box": [
          408.06828316861686,
          307.4400213540249,
          477.7061867073935,
          316.1888437477925
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       17.9",
        "box": [
          488.09441505341687,
          307.4400230088942,
          557.7598979598736,
          316.1888454032321
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       26.7",
        "box": [
          568.1389331833369,
          307.4400246641436,
          637.7768367221136,
          316.1888470579112
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       29.0",
        "box": [
          648.165065068137,
          307.4400263190129,
          717.8305479745936,
          316.1888487133508
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.5% Series E Cumulative Redeemable Preferred Stock Dividend",
        "box": [
          69.96362186537391,
          319.86419172792114,
          327.0033287897505,
          328.6130179969914
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (4.8)",
        "box": [
          408.0682833770539,
          319.86419871962494,
          480.56524803199056,
          328.61302117251535
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (4.8)",
        "box": [
          488.0944152618539,
          319.86420037449415,
          560.6189592844705,
          328.6130228279549
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (4.8)",
        "box": [
          568.1389333917739,
          319.86420202974364,
          640.6358980467105,
          328.61302448263405
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (4.8)",
        "box": [
          648.1650652765741,
          319.86420368461285,
          720.6896092991906,
          328.6130261380736
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Noncontrolling Interests Net (Income) / Loss",
        "box": [
          69.9636220735026,
          332.2699901329212,
          250.74637736267925,
          341.0188148250655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (0.3)",
        "box": [
          408.0682835851826,
          332.2699971246249,
          480.5652482401193,
          341.0188195775154
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (0.7)",
        "box": [
          488.0944154699826,
          332.26999877949413,
          560.6189594925993,
          341.0188212329549
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (0.3)",
        "box": [
          568.1389335999027,
          332.2700004347436,
          640.6358982548392,
          341.0188228876341
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (1.2)",
        "box": [
          648.1650654847027,
          332.27000208961283,
          720.6896095073192,
          341.0188245430736
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Noncontrolling Interests Net (Income) / Loss DE Adjustments",
        "box": [
          69.9636222820938,
          344.70335697882115,
          318.2790558970305,
          353.4521830674812
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           0.2",
        "box": [
          407.5994345432138,
          344.7033639608295,
          477.61425610695045,
          353.45218636239144
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (0.5)",
        "box": [
          488.0944156785738,
          344.70336562539416,
          560.6189597011905,
          353.45218807885493
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                         (0.5)",
        "box": [
          568.1389338084939,
          344.70336728064365,
          640.6358984634304,
          353.45218973353406
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           1.1",
        "box": [
          647.705409565294,
          344.70336892600756,
          717.7386173741504,
          353.4521913279497
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings to Common",
        "box": [
          69.96362249053082,
          357.1275343444211,
          209.3313606469074,
          365.8763581801397
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                           8.6",
        "box": [
          407.13977862365084,
          357.12754131692424,
          477.70618754098746,
          365.8763637298925
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       11.8",
        "box": [
          488.0944158870108,
          357.12754299099413,
          557.7598987934675,
          365.87636538533206
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       21.0",
        "box": [
          568.1389340169309,
          357.12754464624356,
          637.7768375557075,
          365.8763670400112
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                       24.1",
        "box": [
          648.1650659017309,
          357.12754630111283,
          717.8305488081876,
          365.87636869545076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Average Common Stock & Common Stock Equivalents ",
        "box": [
          69.9636228065781,
          375.9659689594211,
          290.9938686634348,
          384.71479448384775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(5)",
        "box": [
          291.21450342148285,
          373.7834719634426,
          298.2739023307117,
          379.47020572934116
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                  1,340.9",
        "box": [
          408.06828430284116,
          375.0470279211249,
          477.6050634934578,
          383.79585031280135
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                  1,370.0",
        "box": [
          488.0944161876412,
          375.04702957599415,
          557.6311953782579,
          383.79585196767056
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                  1,385.4",
        "box": [
          568.1389343175613,
          375.0470312312436,
          637.6849066307377,
          383.79585362311013
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "                  1,324.4",
        "box": [
          648.1650662023612,
          375.04703288611285,
          717.7018453929778,
          383.79585527778926
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP Net Income / (Loss) ROE",
        "box": [
          69.96362299969068,
          387.47671198320114,
          196.75516949398727,
          396.22553555885526
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.1%",
        "box": [
          461.40678160449073,
          387.4767200778976,
          480.53766979862735,
          396.22554142722504
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.8%",
        "box": [
          541.4604928569707,
          387.4767217333372,
          560.5913810511072,
          396.22554308266456
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.6%",
        "box": [
          621.4774316192107,
          387.4767233880163,
          640.6083198133473,
          396.22554473734374
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.5%",
        "box": [
          701.5311428716908,
          387.4767250434559,
          720.6620310658273,
          396.22554639278326
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings ROE",
        "box": [
          69.96362320820481,
          399.90548408895114,
          179.79385857930137,
          408.6543073138604
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.6%",
        "box": [
          461.40678181300484,
          399.9054921836476,
          480.53767000714146,
          408.65431353297504
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.5%",
        "box": [
          541.4604930654848,
          399.90549383908717,
          560.5913812596214,
          408.65431518841456
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.1%",
        "box": [
          621.4774318277248,
          399.9054954937663,
          640.6083200218615,
          408.65431684309374
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.3%",
        "box": [
          701.5311430802049,
          399.90549714920587,
          720.6620312743414,
          408.65431849853326
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP Net Income / (Loss) Earnings Per Share, Diluted",
        "box": [
          69.96362350922055,
          417.8479443747011,
          289.7344115753573,
          426.5967698730833
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.07",
        "box": [
          454.5119401940206,
          417.84795232681836,
          477.6050642115172,
          426.5967737580813
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.13",
        "box": [
          534.5380720788206,
          417.8479539816876,
          557.6311960963171,
          426.5967754129506
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.12",
        "box": [
          614.5917833313006,
          417.8479556371272,
          637.6849073487971,
          426.5967770683901
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.19",
        "box": [
          694.6087220935407,
          417.8479572918063,
          717.7018461110372,
          426.5967787230693
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fully Converted Weighted Average Shares Outstanding ",
        "box": [
          69.96362373276618,
          431.1726908097011,
          293.2829571070629,
          439.921516381464
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(6)",
        "box": [
          293.521978110231,
          428.99019386143914,
          300.5813770194598,
          434.6769276273377
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "             95,257,000",
        "box": [
          407.5994359784693,
          430.2537497617095,
          477.56829192940586,
          439.0025721623209
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "             96,607,015",
        "box": [
          487.63476098582925,
          430.25375141676886,
          557.6220031818859,
          439.00257381776044
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "             97,406,462",
        "box": [
          567.6792791157493,
          430.2537530720183,
          637.6481350666859,
          439.0025754726297
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "             89,022,855",
        "box": [
          647.7054110005494,
          430.25375472688756,
          717.6926531966059,
          439.00257712787914
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP Net Income / (Loss) Earnings Per Share, Fully Converted ",
        "box": [
          69.96362394126488,
          443.6005439674211,
          325.87257679076157,
          452.3493702131084
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(6)",
        "box": [
          326.1759496518497,
          441.4180476944142,
          333.2353485610784,
          447.1047814603128
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.08",
        "box": [
          454.511940610648,
          442.6816038895384,
          477.6050646281446,
          451.4304253208013
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.13",
        "box": [
          534.538072495448,
          442.6816055444076,
          557.6311965129446,
          451.43042697567057
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.13",
        "box": [
          614.5917837479279,
          442.6816071998472,
          637.6849077654244,
          451.4304286311101
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.21",
        "box": [
          694.608722510168,
          442.6816088545263,
          717.7018465276645,
          451.43043028578927
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings Per Share, Fully Converted ",
        "box": [
          69.963624149779,
          456.0293160731711,
          271.21946338007564,
          464.7781411886806
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(6)",
        "box": [
          271.4309050151784,
          453.8238449673354,
          278.49030392440716,
          459.51057873323396
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.09",
        "box": [
          454.51194081877674,
          455.0874022945384,
          477.60506483627324,
          463.83622372580135
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.12",
        "box": [
          534.5380727035767,
          455.08740394940764,
          557.6311967210733,
          463.83622538067056
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.22",
        "box": [
          614.5917839560566,
          455.08740560484716,
          637.6849079735532,
          463.83622703611013
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.27",
        "box": [
          694.6087227182967,
          455.08740725952634,
          717.7018467357933,
          463.83622869078926
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings Per Share before realized gain/(loss), Fully Converted ",
        "box": [
          69.96362435791539,
          468.43557395218613,
          379.67073042853207,
          477.18440131037136
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(6)",
        "box": [
          380.0016826573002,
          466.2530787922475,
          387.06108156652897,
          471.93981255814606
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.22",
        "box": [
          454.5119410272985,
          467.51663387430335,
          477.6050650447951,
          476.2654553055663
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.22",
        "box": [
          534.5380729120985,
          467.5166355291726,
          557.631196929595,
          476.2654569604356
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.23",
        "box": [
          614.5917841645785,
          467.5166371846122,
          637.684908182075,
          476.2654586158751
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.23",
        "box": [
          694.6087229268186,
          467.5166388392913,
          717.7018469443151,
          476.2654602705543
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP Net Income to Distributable Earnings Reconciliation",
        "box": [
          34.872,
          39.74000000000001,
          658.632,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: All numbers in millions except share and per share data.  ",
        "box": [
          36.12,
          493.07,
          220.35287999999974,
          499.2392672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.",
        "box": [
          36.12,
          502.90999999999997,
          41.45668,
          509.0792672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Represents unrealized gains and losses on (i) commercial mortgage loans, held for sale, measured at fair value, (ii) other real estate investments, measured at fair value and (iii) derivatives.",
        "box": [
          46.104,
          502.90999999999997,
          592.98856,
          509.0792672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.",
        "box": [
          36.12,
          512.748,
          41.45668,
          518.9172672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Represents accrued and unpaid subordinated performance fee. In addition, reversal of subordinated performance fee represents cash payment obligations in the quarter.",
        "box": [
          46.104,
          512.748,
          539.7284800000002,
          518.9172672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.",
        "box": [
          36.12,
          522.468,
          41.45668,
          528.6372672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Represents transaction-related and non-recurring costs associated with the acquisition of NewPoint.",
        "box": [
          46.104,
          522.468,
          342.22664000000003,
          528.6372672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4.",
        "box": [
          36.12,
          532.308,
          41.45668,
          538.4772672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Represents non-cash (income) loss from equity method investments, net of cash received as return on capital for the quarter.",
        "box": [
          46.104,
          532.308,
          411.70247999999975,
          538.4772672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.",
        "box": [
          36.12,
          542.148,
          41.45668,
          548.3172672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Represents amounts deemed nonrecoverable upon a realization event, which is generally at the time a loan is repaid, or in the case of a foreclosure or other property, when the underlying asset is sold. Amounts may also be deemed non-",
        "box": [
          46.104,
          542.148,
          733.36248,
          548.3172672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "recoverable if, in our determination, it is nearly certain the carrying amounts will not be collected or realized upon sale.  Amount may be different than the GAAP basis. As of March 31, 2026, the Company has $3.4 million of GAAP loss ",
        "box": [
          46.104,
          549.948,
          723.3563200000006,
          556.1172672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "adjustments that would run through distributable earnings if and when cash losses are realized. ",
        "box": [
          46.104,
          557.748,
          328.1345600000003,
          563.9172672413792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.",
        "box": [
          36.12,
          567.468,
          41.45668,
          573.6372672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Represents the average of all classes of equity except the Series E Preferred Stock.",
        "box": [
          46.104,
          567.468,
          286.9331999999997,
          573.6372672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.",
        "box": [
          36.12,
          577.308,
          41.45668,
          583.4772672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fully Converted assumes conversion of our series of convertible preferred stock and OP Units along with full vesting of our outstanding equity compensation awards.",
        "box": [
          46.104,
          577.308,
          528.71176,
          583.4772672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Appendix",
        "box": [
          35.496,
          23.379999999999995,
          81.51071999999999,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 25,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "25",
        "box": [
          747.34,
          589.218,
          756.42654,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "March 31, 2026",
        "box": [
          404.66,
          126.07,
          468.011,
          134.6384267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Stockholders' equity applicable to convertible common stock",
        "box": [
          48.408,
          140.87,
          294.21600000000007,
          149.4384267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          392.4,
          140.87,
          399.921,
          149.4384267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,308,242 ",
        "box": [
          447.72,
          140.87,
          488.841,
          149.4384267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Shares:",
        "box": [
          48.408,
          155.68,
          78.63,
          164.24842672413791
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Common stock",
        "box": [
          54.408,
          170.49,
          115.59899999999998,
          179.05842672413792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "76,902,793 ",
        "box": [
          442.8,
          170.49,
          488.961,
          179.05842672413792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Restricted stock and restricted stock units",
        "box": [
          54.408,
          185.26999999999998,
          225.44400000000002,
          193.8384267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,630,921 ",
        "box": [
          447.72,
          185.26999999999998,
          488.841,
          193.8384267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Series H convertible preferred stock",
        "box": [
          54.408,
          200.07999999999998,
          198.3450000000001,
          208.6484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,370,498 ",
        "box": [
          447.72,
          200.07999999999998,
          488.841,
          208.6484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Class A OP Units",
        "box": [
          55.128,
          214.89,
          123.30000000000001,
          223.4584267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8,385,951 ",
        "box": [
          447.72,
          214.89,
          488.841,
          223.4584267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total outstanding shares",
        "box": [
          48.408,
          229.7,
          149.01899999999998,
          238.2684267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "92,290,163 ",
        "box": [
          442.8,
          229.7,
          490.881,
          238.2684267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fully-converted book value per share (1)",
        "box": [
          48.408,
          244.0,
          205.12,
          253.0784267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          392.4,
          244.51,
          400.041,
          253.0784267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14.18 ",
        "box": [
          465.24,
          244.51,
          490.76099999999997,
          253.0784267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book Value Per Share & Shares Outstanding",
        "box": [
          34.872,
          39.74000000000001,
          506.78400000000005,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Appendix",
        "box": [
          35.496,
          23.379999999999995,
          81.51071999999999,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: All numbers in thousands except per share and share data. Preferred stock values expressed in common stock equivalents.",
        "box": [
          36.12,
          564.684,
          412.95792000000006,
          570.8532672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.",
        "box": [
          36.12,
          574.524,
          41.45668,
          580.6932672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fully-Converted book value per share assumed conversion of the Company's Series H preferred stock, OP Units and the vesting of the Company's unvested RSUs. ",
        "box": [
          46.104,
          574.524,
          519.17392,
          580.6932672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "March 31, 2026",
        "box": [
          403.2,
          332.39,
          466.551,
          340.9584267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Stockholders' equity applicable to convertible common stock",
        "box": [
          49.872,
          347.2,
          295.68000000000006,
          355.7684267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          392.09,
          347.2,
          399.611,
          355.7684267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,308,242 ",
        "box": [
          447.43,
          347.2,
          488.551,
          355.7684267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accumulated depreciation and amortization adjustment",
        "box": [
          56.592,
          362.01,
          281.86199999999997,
          370.5784267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18,485",
        "box": [
          459.31,
          362.01,
          486.33700000000005,
          370.5784267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "MSR Fair Value adjustment",
        "box": [
          56.592,
          376.82,
          166.33799999999994,
          385.38842672413796
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "19,191",
        "box": [
          459.31,
          376.82,
          486.3280000000001,
          385.38842672413796
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Adjusted Stockholders' equity applicable to convertible common stock",
        "box": [
          49.872,
          391.6,
          334.155,
          400.16842672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,345,918",
        "box": [
          447.43,
          391.6,
          486.31900000000013,
          400.16842672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Shares:",
        "box": [
          49.872,
          406.40999999999997,
          80.094,
          414.97842672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Common stock",
        "box": [
          55.872,
          421.22,
          117.06299999999997,
          429.78842672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "76,902,793",
        "box": [
          442.39,
          421.22,
          486.31900000000013,
          429.78842672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Restricted stock and restricted stock units",
        "box": [
          55.872,
          436.03,
          226.90800000000002,
          444.59842672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,630,921",
        "box": [
          447.43,
          436.03,
          486.31900000000013,
          444.59842672413794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Series H convertible preferred stock",
        "box": [
          55.872,
          450.83000000000004,
          199.8090000000001,
          459.39842672413795
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,370,498 ",
        "box": [
          447.43,
          450.83000000000004,
          488.551,
          459.39842672413795
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Class A OP Units",
        "box": [
          56.592,
          465.64,
          124.76400000000001,
          474.2084267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8,385,951",
        "box": [
          447.43,
          465.64,
          486.31900000000013,
          474.2084267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total outstanding shares",
        "box": [
          49.872,
          480.43,
          150.483,
          488.99842672413797
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "92,290,163 ",
        "box": [
          438.07,
          480.43,
          486.151,
          488.99842672413797
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fully-converted undepreciated book value per share (1)",
        "box": [
          49.872,
          494.72,
          266.824,
          503.7984267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          387.65,
          495.23,
          395.291,
          503.7984267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14.58 ",
        "box": [
          460.51,
          495.23,
          486.031,
          503.7984267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book Value Per Share",
        "box": [
          45.768,
          91.17999999999995,
          180.76259999999994,
          104.54674568965515
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Undepreciated Book Value Per Share",
        "box": [
          45.768,
          302.31,
          275.5606799999998,
          315.67674568965515
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 26,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "26",
        "box": [
          747.34,
          589.218,
          756.42654,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Three Months Ended March 31,",
        "box": [
          600.43,
          75.98199999999997,
          711.9309279999997,
          83.65931034482753
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2026",
        "box": [
          602.98,
          88.76999999999998,
          621.2748400000002,
          96.42446120689647
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2025",
        "box": [
          692.14,
          88.76999999999998,
          710.4348400000001,
          96.42446120689647
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Income",
        "box": [
          43.776,
          101.54000000000002,
          70.62156,
          109.19446120689656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest income",
        "box": [
          50.496,
          114.28000000000003,
          106.63932,
          121.93446120689657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          572.83,
          114.28000000000003,
          579.51196,
          121.93446120689657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "92,249 ",
        "box": [
          622.66,
          114.28000000000003,
          649.02196,
          121.93446120689657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          661.18,
          114.28000000000003,
          667.8619600000001,
          121.93446120689657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "113,908 ",
        "box": [
          706.06,
          114.28000000000003,
          736.9819600000001,
          121.93446120689657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Less: Interest expense",
        "box": [
          50.496,
          127.05000000000001,
          130.90403999999998,
          134.70446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "65,230 ",
        "box": [
          622.66,
          127.05000000000001,
          649.02196,
          134.70446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "70,593 ",
        "box": [
          710.98,
          127.05000000000001,
          737.3419600000001,
          134.70446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net interest income",
        "box": [
          50.496,
          139.82000000000005,
          121.02288000000001,
          147.4744612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27,019 ",
        "box": [
          622.66,
          139.82000000000005,
          649.02196,
          147.4744612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "43,315 ",
        "box": [
          710.98,
          139.82000000000005,
          737.3419600000001,
          147.4744612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Gain/(loss) on sales, including fee-based services, net",
        "box": [
          50.496,
          152.56,
          243.66179999999991,
          160.21446120689654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "21,330 ",
        "box": [
          622.66,
          152.56,
          649.02196,
          160.21446120689654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,039 ",
        "box": [
          716.02,
          152.56,
          737.8219600000001,
          160.21446120689654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mortgage servicing rights",
        "box": [
          50.496,
          165.33000000000004,
          142.48968,
          172.98446120689658
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,742 ",
        "box": [
          627.7,
          165.33000000000004,
          649.50196,
          172.98446120689658
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          728.5,
          165.33000000000004,
          735.02044,
          172.98446120689658
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          734.98,
          165.33000000000004,
          736.9819600000001,
          172.98446120689658
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Servicing revenue, net",
        "box": [
          50.496,
          178.10000000000002,
          129.14327999999998,
          185.75446120689656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10,550 ",
        "box": [
          622.66,
          178.10000000000002,
          649.02196,
          185.75446120689656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          728.5,
          178.10000000000002,
          735.02044,
          185.75446120689656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          734.98,
          178.10000000000002,
          736.9819600000001,
          185.75446120689656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Gain/(loss) on derivatives",
        "box": [
          50.496,
          190.84000000000003,
          142.40123999999997,
          198.49446120689657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,854 ",
        "box": [
          627.7,
          190.84000000000003,
          649.50196,
          198.49446120689657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(118)",
        "box": [
          722.86,
          190.84000000000003,
          741.8424400000001,
          198.49446120689657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Revenue from real estate owned ",
        "box": [
          50.496,
          203.61,
          167.78351999999998,
          211.26446120689656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,882 ",
        "box": [
          627.7,
          203.61,
          649.50196,
          211.26446120689656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,797 ",
        "box": [
          716.02,
          203.61,
          737.8219600000001,
          211.26446120689656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total income",
        "box": [
          50.496,
          216.38000000000005,
          97.01544000000001,
          224.0344612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          572.83,
          216.38000000000005,
          579.63196,
          224.0344612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "74,377 ",
        "box": [
          622.66,
          216.38000000000005,
          649.50196,
          224.0344612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          661.18,
          216.38000000000005,
          667.9819600000001,
          224.0344612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "55,033 ",
        "box": [
          710.98,
          216.38000000000005,
          737.8219600000001,
          224.0344612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Expenses",
        "box": [
          43.776,
          229.12,
          78.147,
          236.77446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Compensation and benefits",
        "box": [
          50.496,
          241.89000000000004,
          149.11463999999998,
          249.54446120689659
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          572.83,
          241.89000000000004,
          579.51196,
          249.54446120689659
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "22,824 ",
        "box": [
          622.66,
          241.89000000000004,
          649.02196,
          249.54446120689659
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          661.18,
          241.89000000000004,
          667.8619600000001,
          249.54446120689659
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          728.5,
          241.89000000000004,
          735.02044,
          249.54446120689659
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          734.98,
          241.89000000000004,
          736.9819600000001,
          249.54446120689659
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Asset management and subordinated performance fee",
        "box": [
          50.496,
          254.61200000000002,
          245.49158399999988,
          262.2893103448276
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,054 ",
        "box": [
          627.7,
          254.61200000000002,
          649.507936,
          262.2893103448276
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,555 ",
        "box": [
          716.02,
          254.61200000000002,
          737.827936,
          262.2893103448276
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Acquisition expenses",
        "box": [
          50.496,
          267.40000000000003,
          126.80364000000002,
          275.0544612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "171 ",
        "box": [
          635.26,
          267.40000000000003,
          650.9419600000001,
          275.0544612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "299 ",
        "box": [
          723.58,
          267.40000000000003,
          739.26196,
          275.0544612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Administrative services expenses",
        "box": [
          50.496,
          280.17,
          170.44475999999992,
          287.82446120689656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,334 ",
        "box": [
          627.7,
          280.17,
          649.50196,
          287.82446120689656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,348 ",
        "box": [
          716.02,
          280.17,
          737.8219600000001,
          287.82446120689656
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Professional fees",
        "box": [
          50.496,
          292.91,
          112.29947999999999,
          300.56446120689657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9,285 ",
        "box": [
          627.7,
          292.91,
          649.50196,
          300.56446120689657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,576 ",
        "box": [
          716.02,
          292.91,
          737.8219600000001,
          300.56446120689657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other expenses",
        "box": [
          50.496,
          305.68,
          106.39811999999999,
          313.33446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11,205 ",
        "box": [
          622.66,
          305.68,
          649.02196,
          313.33446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9,936 ",
        "box": [
          716.02,
          305.68,
          737.8219600000001,
          313.33446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Depreciation and amortization",
        "box": [
          50.496,
          318.45000000000005,
          159.2772,
          326.1044612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,420 ",
        "box": [
          627.7,
          318.45000000000005,
          649.50196,
          326.1044612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,380 ",
        "box": [
          716.02,
          318.45000000000005,
          737.8219600000001,
          326.1044612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Share-based compensation",
        "box": [
          50.496,
          331.19000000000005,
          150.19884000000005,
          338.8444612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,403 ",
        "box": [
          627.7,
          331.19000000000005,
          649.50196,
          338.8444612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,246 ",
        "box": [
          716.02,
          331.19000000000005,
          737.8219600000001,
          338.8444612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total expenses",
        "box": [
          50.496,
          343.96000000000004,
          104.54088,
          351.6144612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          572.83,
          343.96000000000004,
          579.63196,
          351.6144612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "57,696 ",
        "box": [
          622.66,
          343.96000000000004,
          649.50196,
          351.6144612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          661.18,
          343.96000000000004,
          667.9819600000001,
          351.6144612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "30,340 ",
        "box": [
          710.98,
          343.96000000000004,
          737.8219600000001,
          351.6144612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other income/(loss)",
        "box": [
          43.776,
          356.73,
          115.75812000000002,
          364.3844612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(Provision)/benefit for credit losses",
        "box": [
          50.496,
          369.47,
          177.07775999999993,
          377.1244612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          578.23,
          369.47,
          584.91196,
          377.1244612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(11,391)",
        "box": [
          623.86,
          369.47,
          653.5115200000001,
          377.1244612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          661.18,
          369.47,
          667.8619600000001,
          377.1244612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,898 ",
        "box": [
          716.02,
          369.47,
          737.8219600000001,
          377.1244612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Gain/(loss) on other real estate investments",
        "box": [
          50.496,
          382.24,
          208.21668,
          389.89446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(4,476)",
        "box": [
          628.42,
          382.24,
          653.52088,
          389.89446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(2,232)",
        "box": [
          716.74,
          382.24,
          741.8408800000001,
          389.89446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Income/(loss) from equity method investments",
        "box": [
          50.496,
          395.01,
          219.51288000000002,
          402.66446120689653
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12,407 ",
        "box": [
          622.66,
          395.01,
          649.02196,
          402.66446120689653
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          728.5,
          395.01,
          735.02044,
          402.66446120689653
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          734.98,
          395.01,
          736.9819600000001,
          402.66446120689653
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total other income/(loss)",
        "box": [
          50.496,
          407.75,
          141.41232000000002,
          415.40446120689654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          577.15,
          407.75,
          583.9519600000001,
          415.40446120689654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3,460)",
        "box": [
          627.7,
          407.75,
          653.53252,
          415.40446120689654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          664.54,
          407.75,
          671.3419600000001,
          415.40446120689654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(334)",
        "box": [
          722.62,
          407.75,
          741.85168,
          415.40446120689654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Income/(loss) before taxes",
        "box": [
          50.496,
          420.52,
          146.95991999999998,
          428.1744612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13,221 ",
        "box": [
          622.66,
          420.52,
          649.02196,
          428.1744612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "24,359 ",
        "box": [
          710.98,
          420.52,
          737.3419600000001,
          428.1744612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(Provision)/benefit for income tax",
        "box": [
          50.496,
          433.252,
          170.907648,
          440.9293103448276
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(929)",
        "box": [
          634.54,
          433.252,
          653.53072,
          440.9293103448276
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(654)",
        "box": [
          722.86,
          433.252,
          741.85072,
          440.9293103448276
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net income/(loss)",
        "box": [
          43.776,
          446.03,
          108.56232000000001,
          453.6844612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          572.83,
          446.03,
          579.63196,
          453.6844612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12,292 ",
        "box": [
          622.66,
          446.03,
          649.50196,
          453.6844612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          661.18,
          446.03,
          667.9819600000001,
          453.6844612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "23,705 ",
        "box": [
          710.98,
          446.03,
          737.8219600000001,
          453.6844612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net (income)/loss attributable to non-controlling interest",
        "box": [
          43.776,
          458.8,
          247.60656000000003,
          466.45446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(312)",
        "box": [
          634.54,
          458.8,
          653.5224400000001,
          466.45446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "353 ",
        "box": [
          723.58,
          458.8,
          739.26196,
          466.45446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net income/(loss) attributable to Franklin BSP Realty Trust, Inc.",
        "box": [
          43.776,
          471.55,
          271.7260799999999,
          479.20446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          572.83,
          471.55,
          579.63196,
          479.20446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11,980 ",
        "box": [
          622.66,
          471.55,
          649.50196,
          479.20446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          661.18,
          471.55,
          667.9819600000001,
          479.20446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "24,058 ",
        "box": [
          710.98,
          471.55,
          737.8219600000001,
          479.20446120689655
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Less: Preferred stock dividends",
        "box": [
          50.496,
          484.31,
          162.91931999999997,
          491.96446120689654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,916 ",
        "box": [
          627.7,
          484.31,
          649.50196,
          491.96446120689654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,748 ",
        "box": [
          716.02,
          484.31,
          737.8219600000001,
          491.96446120689654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net income/(loss) applicable to common stock",
        "box": [
          43.776,
          497.08,
          211.23311999999996,
          504.7344612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          572.83,
          497.08,
          579.63196,
          504.7344612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,064 ",
        "box": [
          627.7,
          497.08,
          649.9819600000001,
          504.7344612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          661.18,
          497.08,
          667.9819600000001,
          504.7344612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17,310 ",
        "box": [
          710.98,
          497.08,
          737.8219600000001,
          504.7344612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Basic earnings per share",
        "box": [
          43.776,
          522.594,
          132.19992,
          530.2484612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          572.83,
          522.594,
          579.51196,
          530.2484612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.07 ",
        "box": [
          632.74,
          522.594,
          650.5819600000001,
          530.2484612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          661.18,
          522.594,
          667.8619600000001,
          530.2484612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.20 ",
        "box": [
          721.06,
          522.594,
          738.90196,
          530.2484612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diluted earnings per share",
        "box": [
          43.776,
          535.362,
          137.71536,
          543.0164612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          572.83,
          535.362,
          579.51196,
          543.0164612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.07 ",
        "box": [
          632.74,
          535.362,
          650.5819600000001,
          543.0164612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          661.18,
          535.362,
          667.8619600000001,
          543.0164612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.20 ",
        "box": [
          721.06,
          535.362,
          738.90196,
          543.0164612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Basic weighted average shares outstanding",
        "box": [
          43.776,
          548.106,
          200.21832,
          555.7604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "79,926,118 ",
        "box": [
          605.26,
          548.106,
          646.8619600000001,
          555.7604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "82,053,686 ",
        "box": [
          693.58,
          548.106,
          735.18196,
          555.7604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diluted weighted average shares outstanding",
        "box": [
          43.776,
          560.874,
          205.73376,
          568.5284612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "79,926,118 ",
        "box": [
          605.26,
          560.874,
          646.8619600000001,
          568.5284612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "82,053,686 ",
        "box": [
          693.58,
          560.874,
          735.18196,
          568.5284612068965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FBRT Income Statement",
        "box": [
          34.872,
          39.74000000000001,
          296.25600000000003,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Appendix",
        "box": [
          35.496,
          23.379999999999995,
          81.51071999999999,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 27,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27",
        "box": [
          747.34,
          589.218,
          756.42654,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "March 31, 2026",
        "box": [
          690.89,
          77.99000000000001,
          739.9788799999998,
          84.61625000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ASSETS",
        "box": [
          36.768,
          86.38999999999999,
          61.94231999999999,
          93.01625000000001
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cash and cash equivalents",
        "box": [
          36.768,
          96.52199999999993,
          120.89726399999998,
          103.17109913793104
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          677.76,
          95.67999999999995,
          683.57304,
          102.30624999999998
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "115,600",
        "box": [
          731.16,
          95.67999999999995,
          756.1672800000003,
          102.30624999999998
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Restricted cash",
        "box": [
          36.768,
          106.71999999999997,
          85.45320000000001,
          113.34625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20,845",
        "box": [
          735.12,
          105.82999999999998,
          756.1740000000003,
          112.45625000000001
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investment securities, held to maturity",
        "box": [
          36.768,
          116.86999999999995,
          156.93239999999992,
          123.49624999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "21,958",
        "box": [
          735.12,
          115.97999999999996,
          756.1740000000003,
          122.60624999999999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commercial mortgage loans, held for investment, net of allowance for credit losses of $49,173 as of March 31, 2026",
        "box": [
          36.768,
          126.15999999999997,
          399.38128000000006,
          132.78625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,546,828",
        "box": [
          725.88,
          126.15999999999997,
          756.1629600000005,
          132.78625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commercial mortgage loans, held for sale, measured at fair value",
        "box": [
          36.768,
          137.2,
          240.27840000000003,
          143.82625000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "423,031",
        "box": [
          731.16,
          136.30999999999995,
          756.1672800000003,
          142.93624999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real estate securities, available for sale, measured at fair value, amortized cost of $179,768 as of March 31, 2026",
        "box": [
          36.768,
          146.45999999999998,
          390.7412800000001,
          153.08625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "178,712",
        "box": [
          731.16,
          146.45999999999998,
          756.1672800000003,
          153.08625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mortgage servicing rights, net",
        "box": [
          36.768,
          157.5,
          130.38,
          164.12625000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "211,854",
        "box": [
          731.16,
          156.64,
          756.1672800000003,
          163.26625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accrued interest receivable",
        "box": [
          36.768,
          167.632,
          121.59566399999999,
          174.28109913793105
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "38,942",
        "box": [
          735.12,
          166.78999999999996,
          756.1740000000003,
          173.41625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Receivable for loan repayment (5)",
        "box": [
          36.768,
          177.38,
          137.35888,
          184.45625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "79,248",
        "box": [
          735.12,
          176.94,
          756.1740000000003,
          183.56625000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Prepaid expenses and other assets",
        "box": [
          36.768,
          187.97999999999996,
          146.66640000000004,
          194.60625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "38,822",
        "box": [
          735.12,
          187.072,
          756.183744,
          193.72109913793105
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real estate owned, net of depreciation",
        "box": [
          36.768,
          198.13,
          156.07632000000004,
          204.75625000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "98,676",
        "box": [
          735.12,
          197.26999999999998,
          756.1740000000003,
          203.89625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real estate owned, held for sale",
        "box": [
          36.768,
          208.30999999999995,
          135.97584000000003,
          214.93624999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "192,653",
        "box": [
          731.16,
          207.41999999999996,
          756.1672800000003,
          214.04625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Equity method investments",
        "box": [
          36.768,
          218.45999999999998,
          122.41776,
          225.08625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "98,626",
        "box": [
          735.12,
          217.57,
          756.1740000000003,
          224.19625000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Intangible assets, net of amortization",
        "box": [
          36.768,
          228.60999999999996,
          153.43151999999998,
          235.23624999999998
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "113,050",
        "box": [
          731.16,
          227.75,
          756.1672800000003,
          234.37625000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Goodwill",
        "box": [
          36.768,
          238.78999999999996,
          63.946799999999996,
          245.41625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "92,048",
        "box": [
          735.12,
          237.89999999999998,
          756.1740000000003,
          244.52625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Derivative instruments, measured at fair value",
        "box": [
          36.768,
          248.94,
          180.7008,
          255.56625000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17,195",
        "box": [
          735.12,
          248.04999999999995,
          756.1740000000003,
          254.67624999999998
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans eligible for repurchase",
        "box": [
          36.768,
          259.09,
          127.35936000000001,
          265.71625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12,913",
        "box": [
          735.12,
          258.182,
          756.183744,
          264.83109913793106
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total assets",
        "box": [
          48.048,
          268.38,
          86.30711999999998,
          275.00625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          677.52,
          268.38,
          683.33304,
          275.00625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,301,001",
        "box": [
          724.92,
          268.38,
          756.28176,
          275.00625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LIABILITIES AND STOCKHOLDERS' EQUITY",
        "box": [
          36.768,
          277.622,
          171.97824,
          284.27109913793106
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Collateralized loan obligations",
        "box": [
          36.768,
          286.92999999999995,
          131.64672,
          293.55625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          678.48,
          286.92999999999995,
          684.2930399999999,
          293.55625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,637,338",
        "box": [
          725.88,
          286.92999999999995,
          756.1629600000005,
          293.55625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repurchase agreements and revolving credit facilities - commercial mortgage loans",
        "box": [
          36.768,
          297.08,
          299.79232,
          303.70625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,495,300",
        "box": [
          725.88,
          297.08,
          756.1629600000005,
          303.70625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repurchase agreements - real estate securities",
        "box": [
          36.768,
          307.26,
          184.97727999999995,
          313.88625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "212,168",
        "box": [
          731.16,
          307.26,
          756.1672800000003,
          313.88625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other financings",
        "box": [
          36.768,
          317.40999999999997,
          88.4808,
          324.03625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12,865",
        "box": [
          735.12,
          317.40999999999997,
          756.1740000000003,
          324.03625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unsecured debt",
        "box": [
          36.768,
          327.55999999999995,
          86.12832,
          334.18625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "185,693",
        "box": [
          731.16,
          327.55999999999995,
          756.1672800000003,
          334.18625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mortgage note payable",
        "box": [
          36.768,
          337.73999999999995,
          109.24944,
          344.36625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "23,998",
        "box": [
          735.12,
          337.73999999999995,
          756.1740000000003,
          344.36625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Allowance for loss sharing",
        "box": [
          36.768,
          347.89,
          119.49456,
          354.51625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17,349",
        "box": [
          735.12,
          347.89,
          756.1740000000003,
          354.51625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accrued compensation",
        "box": [
          36.768,
          358.03999999999996,
          108.95712,
          364.66625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "29,381",
        "box": [
          735.12,
          358.03999999999996,
          756.1740000000003,
          364.66625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Liability for loans eligible for repurchase",
        "box": [
          36.768,
          368.2,
          161.99928000000008,
          374.82624999999996
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12,913",
        "box": [
          735.12,
          368.2,
          756.1740000000003,
          374.82624999999996
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest payable",
        "box": [
          36.768,
          378.37,
          87.17927999999999,
          384.99625000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16,751",
        "box": [
          735.12,
          378.37,
          756.1740000000003,
          384.99625000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributions payable",
        "box": [
          36.768,
          388.52,
          103.48656000000001,
          395.14625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "23,304",
        "box": [
          735.12,
          388.52,
          756.1740000000003,
          395.14625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accounts payable and accrued expenses",
        "box": [
          36.768,
          398.68,
          164.54664000000008,
          405.30625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20,310",
        "box": [
          735.12,
          398.68,
          756.1740000000003,
          405.30625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Due to affiliates",
        "box": [
          36.768,
          408.85,
          86.21183999999998,
          415.47625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11,058",
        "box": [
          735.12,
          408.85,
          756.1740000000003,
          415.47625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Derivative instruments, measured at fair value",
        "box": [
          36.768,
          418.12,
          180.7008,
          424.74625000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,279",
        "box": [
          739.08,
          418.12,
          756.1807200000003,
          424.74625000000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other liabilities",
        "box": [
          36.768,
          427.4,
          83.91503999999998,
          434.02625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "28,500",
        "box": [
          735.12,
          427.4,
          756.1740000000003,
          434.02625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total liabilities",
        "box": [
          48.768,
          437.56,
          94.59960000000007,
          444.18625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          677.52,
          437.56,
          683.33304,
          444.18625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,731,207",
        "box": [
          724.92,
          437.56,
          756.28176,
          444.18625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commitments and Contingencies",
        "box": [
          36.768,
          446.84000000000003,
          140.97311999999994,
          453.46625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Redeemable convertible preferred stock:",
        "box": [
          36.768,
          455.24,
          163.82976,
          461.86625000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Redeemable convertible preferred stock Series H, $0.01 par value, 20,000 authorized and 17,950 issued and outstanding as of March 31, 2026",
        "box": [
          36.768,
          464.53,
          481.12128000000007,
          471.15625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          677.88,
          464.53,
          683.69304,
          471.15625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "89,748",
        "box": [
          735.12,
          464.53,
          756.1740000000003,
          471.15625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total redeemable convertible preferred stock",
        "box": [
          48.048,
          474.68,
          188.83487999999997,
          481.30625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          677.4,
          474.68,
          683.21304,
          481.30625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "89,748",
        "box": [
          734.64,
          474.68,
          756.27864,
          481.30625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Equity:",
        "box": [
          36.768,
          483.97,
          58.28832,
          490.59625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Preferred stock, $0.01 par value; 100,000,000 shares authorized, 7.5% Cumulative Redeemable Preferred Stock, Series E, 10,329,039 shares issued and outstanding as of March 31, 2026",
        "box": [
          36.768,
          493.24,
          616.1412800000004,
          499.86625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          677.76,
          493.24,
          683.57304,
          499.86625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "258,742",
        "box": [
          731.16,
          493.24,
          756.1672800000003,
          499.86625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Common stock, $0.01 par value, 900,000,000 shares authorized, 77,214,904 shares issued and outstanding as of March 31, 2026",
        "box": [
          36.768,
          502.52,
          440.80296000000004,
          509.14625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "755",
        "box": [
          744.36,
          502.52,
          756.1984400000002,
          509.14625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Additional paid-in capital",
        "box": [
          36.768,
          512.676,
          115.78895999999997,
          519.30225
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,553,770",
        "box": [
          725.88,
          511.812,
          756.1629600000005,
          518.43825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accumulated other comprehensive income/(loss)",
        "box": [
          36.768,
          521.076,
          191.28000000000011,
          527.70225
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1,056)",
        "box": [
          734.52,
          521.076,
          756.2700000000002,
          527.70225
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accumulated deficit",
        "box": [
          36.768,
          529.476,
          99.18527999999996,
          536.10225
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(420,743)",
        "box": [
          726.6,
          529.476,
          756.2565600000004,
          536.10225
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total stockholders' equity",
        "box": [
          48.048,
          538.764,
          129.29903999999993,
          545.39025
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          677.52,
          538.764,
          683.33304,
          545.39025
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,391,468",
        "box": [
          724.92,
          538.764,
          756.28176,
          545.39025
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Non-controlling interest",
        "box": [
          36.768,
          549.804,
          111.91583999999993,
          556.43025
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "88,578",
        "box": [
          735.12,
          548.916,
          756.1740000000003,
          555.54225
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total equity",
        "box": [
          48.048,
          559.092,
          85.06128,
          565.71825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          677.52,
          559.092,
          683.33304,
          565.71825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,480,046",
        "box": [
          724.92,
          559.092,
          756.28176,
          565.71825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total liabilities, redeemable convertible preferred stock and equity",
        "box": [
          48.048,
          569.244,
          255.60215999999997,
          575.8702499999999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          677.52,
          569.244,
          683.33304,
          575.8702499999999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,301,001",
        "box": [
          724.92,
          569.244,
          756.28176,
          575.8702499999999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FBRT Balance Sheet",
        "box": [
          34.872,
          39.74000000000001,
          252.07199999999997,
          62.58913793103454
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Appendix",
        "box": [
          35.496,
          23.379999999999995,
          81.51071999999999,
          33.89060344827578
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 28,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          586.94,
          589.506,
          719.2140799999995,
          597.1604612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "28",
        "box": [
          747.34,
          589.218,
          756.42654,
          596.8724612068966
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Definitions",
        "box": [
          34.872,
          39.601999999999975,
          151.796808,
          62.47398706896547
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings and Distributable Earnings to Common ",
        "box": [
          36.528,
          85.42999999999995,
          287.151,
          93.99842672413786
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings is a non-GAAP measure, which the Company defines as GAAP net income (loss), adjusted for (i) non-cash CLO amortization acceleration and amortization ",
        "box": [
          36.528,
          96.23000000000002,
          753.8729999999991,
          104.79842672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "over the expected useful life of the Company's CLOs, (ii) unrealized gains and losses on loans and derivatives, including CECL reserves and impairments, net of realized gains and ",
        "box": [
          36.528,
          107.012,
          754.8963839999997,
          115.60327586206893
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "losses, as described further below, (iii) non-cash equity compensation expense, (iv) depreciation and amortization, (v) subordinated performance fee accruals/(reversal), (vi) ",
        "box": [
          36.528,
          117.86000000000001,
          733.3259999999991,
          126.42842672413792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "realized gains and losses on debt extinguishment and CLO calls, (vii) non-cash income from mortgage servicing rights, and (viii) certain other non-cash items. Distributable ",
        "box": [
          36.528,
          128.66000000000003,
          731.4559999999997,
          137.22842672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Earnings before realized losses, a non-GAAP measure, presents Distributable Earnings gross of realized gain (loss) on debt extinguishment and realized gain (loss) on loans and ",
        "box": [
          36.528,
          139.45999999999998,
          750.7189999999987,
          148.0284267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "real estate owned. Further, Distributable Earnings to Common, a non-GAAP measure, presents Distributable Earnings net of (x) perpetual preferred stock dividend payments and ",
        "box": [
          36.528,
          150.26,
          749.0569999999985,
          158.8284267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(y) non-controlling interests in joint ventures.",
        "box": [
          36.528,
          161.06,
          218.925,
          169.6284267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As noted above, we exclude unrealized gains and losses on loans and other investments, including CECL reserves and impairments, from our calculation of Distributable Earnings ",
        "box": [
          36.528,
          182.66000000000003,
          755.455999999999,
          191.22842672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and include realized gains and losses. The nature of these adjustments is described more fully in the footnotes to our reconciliation tables. GAAP loan loss reserves and any ",
        "box": [
          36.528,
          193.45999999999998,
          734.6429999999993,
          202.0284267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "property impairment losses have been excluded from Distributable Earnings consistent with other unrealized losses pursuant to our existing definition of Distributable Earnings. ",
        "box": [
          36.528,
          204.26,
          749.2369999999993,
          212.8284267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "We expect to only recognize such potential credit or property impairment losses in Distributable Earnings if and when such amounts are deemed nonrecoverable upon a ",
        "box": [
          36.528,
          215.06,
          715.898999999998,
          223.6284267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "realization event. This is generally at the time a loan is repaid, or in the case of a foreclosure or other property, when the underlying asset is sold. Amounts may also be deemed ",
        "box": [
          36.528,
          225.86,
          745.4279999999986,
          234.42842672413792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "non-recoverable if, in our determination, it is nearly certain the carrying amounts will not be collected or realized. The realized loss amount reflected in Distributable Earnings will ",
        "box": [
          36.528,
          236.68,
          751.3949999999992,
          245.24842672413791
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "generally equal the difference between the cash received and the Distributable Earnings basis of the asset. The timing of any such loss realization in our Distributable Earnings ",
        "box": [
          36.528,
          247.48000000000002,
          744.1889999999988,
          256.0484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "may differ materially from the timing of the corresponding loss reserves, charge-offs or impairments in our consolidated financial statements prepared in accordance with GAAP.",
        "box": [
          36.528,
          258.28,
          752.0609999999987,
          266.8484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          36.528,
          269.08,
          38.769,
          277.6484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The Company believes that Distributable Earnings, Distributable Earnings before realized losses and Distributable Earnings to Common provide meaningful information to ",
        "box": [
          36.528,
          279.88,
          723.2309999999984,
          288.4484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "consider in addition to the disclosed GAAP results. The Company believes Distributable Earnings, Distributable Earnings before realized losses and Distributable Earnings to ",
        "box": [
          36.528,
          290.68,
          732.9799999999996,
          299.2484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Common are useful financial metrics for existing and potential future holders of its common stock as historically, over time, Distributable Earnings to Common has been an ",
        "box": [
          36.528,
          301.48,
          729.5459999999988,
          310.0484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "indicator of common dividends per share. As a REIT, the Company generally must distribute annually at least 90% of its taxable income, subject to certain adjustments, and ",
        "box": [
          36.528,
          312.28,
          729.607999999999,
          320.8484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "therefore believes dividends are one of the principal reasons stockholders may invest in its common stock. Further, Distributable Earnings to Common helps investors evaluate ",
        "box": [
          36.528,
          323.08,
          744.914999999999,
          331.6484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "performance excluding the effects of certain transactions and GAAP adjustments that the Company does not believe are necessarily indicative of current loan portfolio ",
        "box": [
          36.528,
          333.88,
          712.1179999999994,
          342.4484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "performance and the Company's operations and is one of the performance metrics the Company's board of directors considers when dividends are declared.",
        "box": [
          36.528,
          344.68,
          668.9749999999995,
          353.2484267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings, Distributable Earnings before realized losses and Distributable Earnings to Common do not represent net income (loss) and should not be considered as ",
        "box": [
          36.528,
          366.31,
          746.2149999999981,
          374.87842672413797
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "an alternative to GAAP net income (loss). The methodology for calculating Distributable Earnings, Distributable Earnings before realized losses and Distributable Earnings to ",
        "box": [
          36.528,
          377.11,
          733.9189999999993,
          385.6784267241379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Common may differ from the methodologies employed by other companies and thus may not be comparable to the Distributable Earnings reported by other companies.",
        "box": [
          36.528,
          387.90999999999997,
          713.281999999999,
          396.47842672413793
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 29,
    "width": 792.0,
    "height": 612.0,
    "cells": [
      {
        "text": "www.bspcredit.com",
        "box": [
          36.0,
          582.108,
          128.73552000000004,
          591.9331293103448
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "London",
        "box": [
          283.97,
          409.59000000000003,
          337.88216,
          424.78467672413797
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cannon Place",
        "box": [
          278.33,
          433.56,
          343.47464,
          443.61362068965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "78 Cannon Street",
        "box": [
          270.17,
          446.16,
          351.7988000000001,
          456.21362068965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "London",
        "box": [
          293.09,
          458.78,
          328.83560000000006,
          468.83362068965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "EC4N 6HL",
        "box": [
          287.21,
          471.38,
          334.60328,
          481.4336206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "UK",
        "box": [
          304.01,
          483.98,
          317.92618,
          494.0336206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "West Palm Beach",
        "box": [
          575.04,
          409.59000000000003,
          700.4377199999999,
          424.78467672413797
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "360 South Rosemary Avenue",
        "box": [
          570.0,
          433.56,
          705.4214400000001,
          443.61362068965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Suite 1510",
        "box": [
          612.5,
          446.16,
          663.0401600000001,
          456.21362068965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "West Palm Beach",
        "box": [
          596.66,
          458.78,
          678.8484799999998,
          468.83362068965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FL 33401",
        "box": [
          615.86,
          471.38,
          659.8001600000001,
          481.4336206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "USA",
        "box": [
          627.62,
          483.98,
          647.93744,
          494.0336206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Boston",
        "box": [
          440.59,
          409.59000000000003,
          491.61412,
          424.78467672413797
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100 Federal Street",
        "box": [
          423.19,
          433.56,
          508.90552,
          443.61362068965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "22 nd  Floor",
        "box": [
          442.87,
          446.16,
          489.43576,
          456.21362068965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Boston",
        "box": [
          449.23,
          458.78,
          483.05368000000004,
          468.83362068965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "MA 02110",
        "box": [
          442.03,
          471.38,
          490.2786400000001,
          481.4336206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "USA",
        "box": [
          455.95,
          483.98,
          476.26743999999997,
          494.0336206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "New York",
        "box": [
          121.58,
          409.59000000000003,
          189.85688000000002,
          424.78467672413797
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "One Madison Avenue",
        "box": [
          105.98,
          433.56,
          205.58191999999997,
          443.61362068965514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Suite 1600 ",
        "box": [
          130.46,
          446.16,
          183.56623999999996,
          456.21362068965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "New York",
        "box": [
          133.22,
          458.78,
          178.20559999999998,
          468.83362068965516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NY 10010",
        "box": [
          132.62,
          471.38,
          178.83055999999996,
          481.4336206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "USA",
        "box": [
          145.58,
          483.98,
          165.89744000000002,
          494.0336206896552
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ll",
        "box": [
          305.0,
          195.0,
          411.0,
          230.33333333333334
        ],
        "from_ocr": true,
        "confidence": 0.7341
      },
      {
        "text": "BSP",
        "box": [
          299.6666666666667,
          210.33333333333334,
          496.66666666666663,
          295.0
        ],
        "from_ocr": true,
        "confidence": 0.95499
      },
      {
        "text": "BENEFIT STREET PARTNERS",
        "box": [
          345.3333333333333,
          284.6666666666667,
          486.0,
          297.0
        ],
        "from_ocr": true,
        "confidence": 0.99936
      },
      {
        "text": "by Franklin Templeton",
        "box": [
          374.6666666666667,
          299.6666666666667,
          486.66666666666663,
          313.66666666666663
        ],
        "from_ocr": true,
        "confidence": 0.99997
      }
    ]
  }
]