{ "markdown": "Financing Activity\n\n\nCMTG\nCLAROS\nMORTGAGE\nTRUST\n\n\n\u25cb During the quarter:\n - Closed a new $500 million secured term loan maturing in 2030; proceeds used to fully retire prior secured term loan with a UPB of\n$556 million.\n - Net financings outstanding decreased by $489 million, including $142 million of deleveraging payments.\n\n\n
\n\nThis waterfall chart, titled \"Q1 2026 \u2013 Financing Activity ($ amounts in millions),\" illustrates the changes in Unpaid Principal Balance (UPB) between December 31, 2025, and March 31, 2026. The chart tracks starting and ending balances through \"Advances\" and \"Repayments.\" The data is categorized by four types of financing: Repurchase agreements and term participation facility (medium blue), Notes payable (olive green), Debt related to real estate owned hotel portfolio (light blue), and Secured term loan (dark blue). A dotted border highlights a portion of the repurchase agreements secured by multifamily REO assets.
CategoryUPB 12/31/25AdvancesRepaymentsUPB 3/31/26
Repurchase agreements and term participation facility$2,188$11$267$1,932
Notes payable$177-$177-
Debt related to real estate owned hotel portfolio$235--$235
Secured term loan$556$500$556$500
Total (with dotted border adjustment)$3,156--$2,667
Legend: Repurchase agreements and term participation facility (medium blue), Notes payable (olive green), Debt related to real estate owned hotel portfolio (light blue), Secured term loan (dark blue), Portion of repurchase agreements secured by multifamily REO assets (dotted border). Annotations: Net Change in UPB is $(489). The dotted border area at the start is $195 and at the end is $233.
\n\nTotals may not foot due to rounding.\nA. At March 31, 2026, we have no notes payable.\n\n\nCLAROS MORTGAGE TRUST, INC. 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