[
  {
    "page_no": 1,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "N E W   Y O R K   |   M I A M I",
        "box": [
          259.0218,
          517.6544,
          454.8977999999999,
          529.9135605415861
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "AN INVESTMENT GRADE REIT",
        "box": [
          203.8441,
          471.30748,
          510.61968400000046,
          489.4510376015474
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NYSE: LADR",
        "box": [
          605.8707,
          15.218060000000037,
          705.827768,
          28.103694704225347
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "July 2026",
        "box": [
          311.6259,
          397.02272,
          394.8752160000002,
          412.7348905263158
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investor Presentation",
        "box": [
          154.1492,
          345.74334,
          554.2671559999998,
          378.04322373435997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LC",
        "box": [
          27.94355010986328,
          13.643616994222006,
          65.3225809733073,
          42.72606404622396
        ],
        "from_ocr": true,
        "confidence": 0.99989
      },
      {
        "text": "LADDER",
        "box": [
          64.95968119303386,
          40.2127685546875,
          133.18548583984375,
          53.4973398844401
        ],
        "from_ocr": true,
        "confidence": 0.9987
      },
      {
        "text": "CAPITAL",
        "box": [
          66.0483907063802,
          59.9601084391276,
          132.0967814127604,
          73.24468485514323
        ],
        "from_ocr": true,
        "confidence": 0.99916
      }
    ]
  },
  {
    "page_no": 2,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "This presentation contains forward-looking statements regarding possible or assumed future results of the business, financial condition, plans and objectives ",
        "box": [
          35.2161,
          92.82952,
          700.4411879999981,
          101.3121642105263
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of Ladder Capital Corp and its subsidiaries (collectively, 'Ladder Capital,' 'Ladder,' 'LADR,' or the 'Company').  Any statement concerning future events or ",
        "box": [
          35.21609999999998,
          107.95143999999999,
          694.5761639999986,
          116.4340842105263
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "expectations, express or implied, is a forward-looking statement.  Words such as 'may,' 'will,' 'seek,' 'should,' 'expect,' 'anticipate,' 'project,' ",
        "box": [
          35.21609999999998,
          123.07335999999998,
          654.3858599999999,
          131.55600421052628
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "'estimate,' 'intend,' 'continue,' or 'believe' or the negatives thereof or other variations thereon or comparable terminology are intended to identify ",
        "box": [
          35.21609999999987,
          138.19527999999997,
          670.3472999999987,
          146.67792421052627
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "forward-looking statements that are subject to risk and uncertainties.  Such risks and uncertainties are discussed in the Company's Annual Report on ",
        "box": [
          35.21609999999998,
          153.31719999999996,
          665.7167399999992,
          161.79984421052626
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Form 10-K for the year ended December 31, 2025, and its other filings with the U.S. Securities and Exchange Commission.  There can be no assurance that ",
        "box": [
          35.226659999999974,
          168.43911999999995,
          687.9708839999987,
          176.92176421052625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "any expectations, express or implied, in a forward-looking statement will prove correct or that the contemplated event or result will occur as anticipated.  ",
        "box": [
          35.22666000000004,
          183.56103999999993,
          686.1862439999987,
          192.04368421052624
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "In particular, there can be no assurance that Ladder will achieve any performance objectives set forth in this presentation.  Further, any forward-looking ",
        "box": [
          35.22666000000015,
          198.68295999999992,
          681.0361320000002,
          207.16560421052623
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "statement speaks only as of the date on which it is made.  New risks and uncertainties arise over time, and it is not possible for Ladder to predict those ",
        "box": [
          35.226660000000265,
          213.8048799999999,
          673.4635559999988,
          222.28752421052621
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "events or their effects on the Company.  Except as required by law, Ladder is not obligated to, and does not intend to, update or revise any forward-looking ",
        "box": [
          35.226660000000265,
          228.9267999999999,
          693.2857320000003,
          237.4094442105262
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "statements, whether as a result of new information, future events or otherwise.",
        "box": [
          35.23722000000032,
          244.0487199999999,
          372.7210920000007,
          252.5313642105262
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "This presentation is strictly for informational purposes.  It is not intended to be relied upon as investment advice and is not, and should not be assumed to be, ",
        "box": [
          35.23722000000032,
          271.1667999999999,
          701.7632999999988,
          279.6494442105262
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "complete.  The contents herein are not to be construed as legal, business or tax advice, and each recipient should consult its own attorney, business advisor ",
        "box": [
          35.226660000000265,
          286.2887199999999,
          693.8454119999986,
          294.77136421052626
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and tax advisor as to legal, business and tax advice. ",
        "box": [
          35.226660000000265,
          301.4106399999999,
          256.16826000000054,
          309.8932842105262
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Certain information contained herein is based on, or derived from, information provided by independent third-party sources.  Ladder believes that such ",
        "box": [
          35.226660000000265,
          328.6554399999999,
          675.0074279999982,
          337.13808421052624
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "information is accurate and that the sources from which it has been obtained are reliable.  However, Ladder cannot guarantee the accuracy of such ",
        "box": [
          35.226660000000265,
          343.7773599999999,
          660.7482599999995,
          352.2600042105262
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "information and has not independently verified the assumptions on which such information is based.  All data is presented as of June 30, 2026, unless ",
        "box": [
          35.22666000000038,
          358.89927999999986,
          669.3905639999994,
          367.3819242105262
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "otherwise indicated.",
        "box": [
          35.22666000000038,
          374.02119999999985,
          121.50397200000043,
          382.50384421052615
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "This presentation includes certain non-GAAP financial measures.  These non-GAAP financial measures should be considered only as supplemental to, and not ",
        "box": [
          35.22666000000038,
          401.26599999999985,
          699.969155999999,
          409.7486442105262
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "as superior to, financial measures prepared in accordance with GAAP.  Please refer to the Company's June 30, 2026 Form 10-Q filing and earnings press ",
        "box": [
          35.22666000000038,
          416.3879199999999,
          678.7160999999992,
          424.87056421052614
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "release, which are available on Ladder's website (www.laddercapital.com), as well as the supplemental financial tables included herein, for a reconciliation ",
        "box": [
          35.22666000000049,
          431.5098399999998,
          692.9097960000003,
          439.9924842105262
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of the non-GAAP financial measures included in this presentation to the most directly comparable financial measures prepared in accordance with GAAP.",
        "box": [
          35.22666000000049,
          446.6317599999999,
          682.6222439999993,
          455.1144042105262
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Totals may not equal the sum of components due to rounding.",
        "box": [
          35.22666000000049,
          473.87655999999987,
          298.9362600000008,
          482.3592042105262
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "DISCLAIMERS",
        "box": [
          11.0,
          16.71132,
          271.89196400000003,
          42.02391227502528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          357.97,
          522.55872,
          362.04628,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 3,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "30%+",
        "box": [
          262.7169,
          177.57584000000003,
          317.0404680000001,
          194.5233266734075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "TOTAL RETURN POTENTIAL",
        "box": [
          262.7169,
          208.65800000000002,
          417.4254000000002,
          217.89220748230537
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "current discount to book value = ",
        "box": [
          262.2724,
          235.95898,
          402.9094239999996,
          244.6623961403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Attractive Entry Point",
        "box": [
          262.2724,
          251.91514,
          356.7717279999999,
          260.83082908565933
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~9.5%",
        "box": [
          21.1859,
          176.68704000000002,
          80.22878,
          193.6345266734075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "DIVIDEND YIELD",
        "box": [
          21.1859,
          208.65800000000002,
          117.15769999999996,
          217.89220748230537
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "dividend supported by recurring cash flows =",
        "box": [
          20.7415,
          235.41478,
          212.11298800000023,
          244.1181961403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Stable, Reliable Income",
        "box": [
          20.7415,
          251.37094000000002,
          122.88838000000005,
          260.28662908565934
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13%  (>$155 Million)",
        "box": [
          494.6668,
          177.13144,
          686.9878279999997,
          194.07892667340747
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "MANAGEMENT & BOARD OWNERSHIP",
        "box": [
          494.6669,
          208.65800000000002,
          706.6504400000007,
          217.89220748230537
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "high inside ownership & internal management =",
        "box": [
          494.2225,
          235.41478,
          699.1667559999986,
          244.1181961403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Shareholder Alignment",
        "box": [
          494.2225,
          251.37094000000002,
          595.4379879999992,
          260.28662908565934
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": ">85%",
        "box": [
          494.4866,
          326.66494,
          547.8966320000002,
          343.6124266734075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SENIOR-SECURED / IG-RATED ASSETS",
        "box": [
          494.4866,
          357.3026,
          704.4995000000002,
          366.53680748230533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "primarily first mortgage loans & AAA securities =",
        "box": [
          494.0423,
          384.60368,
          700.655035999998,
          393.3070961403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Enhanced Downside Protection",
        "box": [
          494.0423,
          400.55984,
          630.7531159999988,
          409.47552908565933
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~$52 Billion",
        "box": [
          263.902,
          325.77603999999997,
          381.94657600000033,
          342.7235266734075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "INVESTMENTS SINCE INCEPTION",
        "box": [
          263.902,
          357.30240000000003,
          449.44612,
          366.5366074823054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~",
        "box": [
          263.4576,
          384.60357999999997,
          268.71648,
          393.30699614035086
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          268.7376,
          390.29158,
          269.09015999999997,
          391.57731192982453
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.1% realized losses since 2008 = ",
        "box": [
          269.0976,
          384.60357999999997,
          411.7558080000002,
          393.30699614035086
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cycle-Tested Management Team",
        "box": [
          263.45856,
          400.55974000000003,
          405.96892800000006,
          409.4754290856593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Conservative risk.  Compelling returns.",
        "box": [
          164.2319,
          105.50554,
          550.3704680000004,
          121.34421867336687
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investment Grade",
        "box": [
          21.1672,
          325.77603999999997,
          194.819536,
          342.7235266734075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ONLY IG-RATED CRE FINANCE REIT",
        "box": [
          21.167,
          357.3025,
          219.79568,
          366.53670748230536
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "IG bond market access & favorable cost of funds =",
        "box": [
          20.6326,
          384.60357999999997,
          234.08610400000023,
          393.30699614035086
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Safe, Superior Liability Structure",
        "box": [
          20.6326,
          400.55974000000003,
          161.76805600000006,
          409.4754290856593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "THE CASE FOR LADDER CAPITAL",
        "box": [
          11.0,
          16.838820000000055,
          627.4453039999997,
          42.15141227502528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3",
        "box": [
          357.97,
          522.55872,
          362.04628,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: As of 06/30/2026",
        "box": [
          28.8,
          508.99068,
          104.99909999999997,
          515.4490568421053
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 4,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "LADDER AT A GLANCE",
        "box": [
          10.0,
          16.743720000000053,
          383.8056279999998,
          42.05631227502528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investment grade REIT with focus on commercial real estate credit",
        "box": [
          102.8415,
          92.00106,
          622.0121400000011,
          105.4530884623116
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: As of 06/30/2026 unless otherwise noted. Dollars in millions. Asset mix percentages exclude cash and all other assets.  Insider ownership based on $9.75 LADR closing price on 07/22/2026.",
        "box": [
          28.8,
          508.99068,
          654.11244,
          515.4490568421053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Skin in the Game",
        "box": [
          308.8625,
          151.02653999999995,
          431.945924,
          163.61069565829143
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": ">$155M / 13%",
        "box": [
          282.551,
          198.05703999999997,
          405.7078399999999,
          213.918149322548
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Management & director ownership",
        "box": [
          282.051,
          221.86948,
          428.2687799999996,
          230.27859584215594
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Internally managed",
        "box": [
          282.4954,
          255.76436,
          439.39758400000017,
          269.77862782608696
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fully aligned with stakeholders",
        "box": [
          282.4954,
          276.90238,
          407.47746400000085,
          285.1112838596491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "30 years",
        "box": [
          282.4954,
          306.79586,
          349.5934600000001,
          320.81012782608695
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Avg. executive team experience",
        "box": [
          282.4954,
          328.55098,
          411.41664399999934,
          336.7598838596491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~10%",
        "box": [
          282.4954,
          357.04355999999996,
          325.38738399999994,
          371.05782782608696
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ROE since IPO, with only ~10 bps of losses",
        "box": [
          282.4954,
          378.16598,
          451.8771520000013,
          386.3748838596491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Stock buybacks",
        "box": [
          282.4954,
          406.52196000000004,
          404.6666560000001,
          420.53622782608693
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$100M program;  $24M LTM repurchases",
        "box": [
          282.4954,
          428.47758,
          449.47451200000035,
          436.6864838596491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fortress Balance Sheet",
        "box": [
          520.7485,
          150.99453999999997,
          687.0966759999984,
          163.57869565829145
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "IG-Rated",
        "box": [
          513.624,
          197.50093999999996,
          595.069224,
          213.362049322548
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Moody's: Baa3 / Fitch: BBB-",
        "box": [
          513.624,
          221.49818,
          629.22972,
          229.90729584215592
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "67%",
        "box": [
          513.624,
          255.76436,
          545.8254959999999,
          269.77862782608696
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unsecured debt / total debt",
        "box": [
          513.624,
          277.22578000000004,
          624.9561479999995,
          285.4346838596491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.3x",
        "box": [
          513.624,
          308.60506,
          547.2063120000001,
          322.619327826087
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Adjusted leverage (target 2.0-3.0x)",
        "box": [
          513.624,
          328.52268,
          654.515172,
          336.7315838596491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "73%",
        "box": [
          513.624,
          356.68926,
          545.4648119999999,
          370.703527826087
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unencumbered assets / total assets",
        "box": [
          513.624,
          378.86978,
          656.2307159999993,
          387.0786838596491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multi-Cylinder Strategy",
        "box": [
          46.257,
          151.02653999999995,
          221.29264799999993,
          163.61069565829143
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$5.8B",
        "box": [
          36.8846,
          197.79053999999996,
          89.511176,
          213.651649322548
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CRE investments with senior secured focus",
        "box": [
          37.0845,
          221.92618,
          214.33365599999993,
          230.33529584215592
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans",
        "box": [
          124.3464,
          296.37844,
          146.85571199999995,
          304.3822972473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "49%",
        "box": [
          127.34208000000001,
          308.01988,
          143.85244800000007,
          316.0237372473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Securities",
        "box": [
          189.44556,
          276.30928,
          227.43002399999986,
          284.3131372473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "33%",
        "box": [
          200.24328,
          287.95072,
          216.75459600000005,
          295.9545772473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Equity",
        "box": [
          185.18904,
          332.90488,
          209.9716559999999,
          340.9087372473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18%",
        "box": [
          189.26544,
          344.54632,
          205.77675600000006,
          352.5501772473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": ">$1.5B",
        "box": [
          513.624,
          406.74396,
          568.062516,
          420.75822782608697
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unsecured bank credit facility capacity",
        "box": [
          513.624,
          427.82188,
          669.8356440000006,
          436.03078385964915
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~$52B",
        "box": [
          37.2265,
          398.69706,
          86.65042,
          412.1681391506572
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "total investments since inception",
        "box": [
          97.9268,
          401.05858,
          232.16469199999997,
          409.26748385964913
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2.8B",
        "box": [
          37.5365,
          263.01954,
          81.65116400000001,
          276.1647059453994
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "First Mortgage Loans",
        "box": [
          38.7365,
          279.5549,
          115.69459999999998,
          286.9725842105263
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.9B",
        "box": [
          37.5365,
          296.85814,
          79.133396,
          310.0033059453994
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "IG Securities",
        "box": [
          38.7365,
          312.6456,
          83.77519999999997,
          320.0632842105263
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.1B",
        "box": [
          37.5365,
          329.36364,
          76.85956399999999,
          342.5088059453994
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CRE Equity",
        "box": [
          38.7365,
          344.699,
          77.61289999999998,
          352.11668421052633
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "<$15M",
        "box": [
          37.2265,
          425.82756,
          88.56845200000001,
          439.2986391506572
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "granular avg. investment size",
        "box": [
          97.9268,
          427.74468,
          216.05140399999996,
          435.95358385964914
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          357.97,
          522.55872,
          362.04628,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 5,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "RELATIVE OUTPERFORMANCE",
        "box": [
          10.0,
          16.743720000000053,
          522.8674839999999,
          42.05631227502528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "'Stay rich, not get rich strategy'",
        "box": [
          35.4774,
          93.67036000000002,
          299.347932,
          107.66480896482415
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          299.3574,
          102.65164000000004,
          299.99748,
          104.92980611055276
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": ":  capital preservation with attractive returns",
        "box": [
          300.0774,
          93.67036000000002,
          666.5352239999986,
          107.66480896482415
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1",
        "box": [
          18.0419,
          390.68148,
          28.36118,
          397.90135929824567
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q3",
        "box": [
          59.85338,
          390.68148,
          70.17266000000001,
          397.90135929824567
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q4",
        "box": [
          80.76350000000001,
          390.68148,
          91.08278000000001,
          397.90135929824567
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Ladder",
        "box": [
          360.9457,
          213.86388,
          390.85478800000004,
          222.77956908565932
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1.8%)",
        "box": [
          360.9457,
          226.09980000000002,
          384.3195999999999,
          233.51748421052633
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Non-IG",
        "box": [
          361.6842,
          348.72374,
          389.45112,
          356.72759724735323
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CMREITs ",
        "box": [
          361.69368,
          360.12818,
          396.89916000000005,
          368.1320372473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          396.8442,
          358.54646,
          399.64284,
          363.206933840231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(23.6%)",
        "box": [
          360.9457,
          371.5698,
          388.8816999999999,
          378.9874842105263
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5",
        "box": [
          357.97,
          522.55872,
          362.04628,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5-Year Total Returns  3",
        "box": [
          497.7016,
          148.28070000000002,
          646.3216,
          161.88530285427134
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(5%)",
        "box": [
          436.7984,
          350.43494,
          459.860072,
          359.22215214070354
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+24%",
        "box": [
          551.1511,
          214.24586,
          580.05046,
          223.35852444221103
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+27%",
        "box": [
          492.4513,
          207.09429999999998,
          520.7358999999999,
          216.31544854271357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "BBB/",
        "box": [
          556.0312,
          284.61974,
          575.94868,
          292.62359724735325
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "BBB-",
        "box": [
          556.6284400000001,
          296.62142,
          575.3704,
          304.6252772473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Equity",
        "box": [
          553.6327600000001,
          308.13962,
          578.4153760000002,
          316.1434772473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " REITs ",
        "box": [
          551.9548000000001,
          319.06058,
          577.2645039999998,
          327.0644372473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5",
        "box": [
          577.1512,
          317.37494000000004,
          580.1323600000001,
          322.33935778633304
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LADR",
        "box": [
          494.9294,
          317.14068,
          518.274392,
          326.0563690856593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Non-IG",
        "box": [
          433.9922,
          331.86654,
          461.75912000000005,
          339.87039724735325
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CMREITs ",
        "box": [
          428.1146,
          340.86306,
          464.5784720000001,
          348.86691724735323
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          464.4722,
          339.18174,
          467.45336,
          344.146157786333
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: As of 06/30/2026, unless otherwise noted.  Source: FactSet.   ",
        "box": [
          27.36,
          436.99951999999996,
          231.74913600000036,
          443.07232210526314
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Source: Public company filings, company presentations and FactSet.  ",
        "box": [
          27.36,
          445.99591999999996,
          237.27247200000042,
          452.06872210526313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.  Depicts cumulative change in undepreciated book value per share through 03/31/2026",
        "box": [
          27.36,
          454.99231999999995,
          301.2043680000002,
          461.06512210526313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.  Non-IG CMREITs include ARI, BRSP, BXMT, CMTG, FBRT, KREF, STWD and TRTX.",
        "box": [
          27.36,
          463.98871999999994,
          276.93601199999995,
          470.0615221052631
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.  Represents stock price change plus cumulative dividends, as of 07/22/2026.  Graph bars are not to scale.",
        "box": [
          27.36,
          472.98512,
          353.50491599999924,
          479.07232210526314
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4.  Market capitalization-weighted average of Non-IG CMREITs",
        "box": [
          27.35820000000001,
          481.99592,
          219.055608,
          488.06872210526313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.  Market capitalization-weighted average of AAT, BNL, CDP, CUZ, EGP, EPR, EPRT, FCPT, FR, HIW, IRT, KRC, KRG, PECO, SKT and UDR",
        "box": [
          27.350640000000027,
          490.99232,
          433.5524639999994,
          497.0651221052632
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.  Represents MSCI U.S. REIT Index (RMZ)",
        "box": [
          27.350640000000055,
          499.98872,
          154.67238000000003,
          506.0615221052632
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.  Represents SPDR S&P Regional Banking ETF",
        "box": [
          27.350640000000055,
          508.98512,
          169.65781200000018,
          515.0579221052632
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book Value Preservation ",
        "box": [
          116.2755,
          149.20401999999996,
          286.15758,
          160.9203028542713
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          286.5555,
          146.70621999999997,
          290.2599,
          153.54071833165824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CURRENT DIVIDEND YIELD",
        "box": [
          492.1646,
          384.92719999999997,
          634.559359999999,
          394.04551838306065
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10.9%",
        "box": [
          433.1124,
          405.08957999999996,
          459.882,
          413.72906257940326
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9.4%",
        "box": [
          494.73,
          405.08957999999996,
          516.1034400000001,
          413.72906257940326
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.6%",
        "box": [
          614.9028000000001,
          405.08957999999996,
          636.2804640000003,
          413.72906257940326
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2",
        "box": [
          38.95,
          390.68148,
          49.26928,
          397.90135929824567
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "B O O K   V A L U E  ",
        "box": [
          276.5386,
          281.35874,
          348.40553200000005,
          289.3625972473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "OUTPERFORMANCE",
        "box": [
          259.61679999999996,
          292.76318,
          361.195,
          300.7670372473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+21.8%",
        "box": [
          279.6335,
          261.05879999999996,
          341.92117999999994,
          276.24657407035176
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1",
        "box": [
          101.6744,
          390.68148,
          111.99368000000001,
          397.90135929824567
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q3",
        "box": [
          143.48588,
          390.68148,
          153.80516,
          397.90135929824567
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q4",
        "box": [
          164.39600000000002,
          390.68148,
          174.71528,
          397.90135929824567
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2",
        "box": [
          122.57576000000002,
          390.68148,
          132.89504,
          397.90135929824567
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1",
        "box": [
          185.29736,
          390.68148,
          195.61664,
          397.90135929824567
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q3",
        "box": [
          227.10884,
          390.68148,
          237.42811999999998,
          397.90135929824567
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q4",
        "box": [
          248.01896,
          390.68148,
          258.33824,
          397.90135929824567
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2",
        "box": [
          206.19871999999998,
          390.68148,
          216.51799999999997,
          397.90135929824567
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1",
        "box": [
          268.92032,
          390.68148,
          279.2396,
          397.90135929824567
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q3",
        "box": [
          310.73179999999996,
          390.68148,
          321.05107999999996,
          397.90135929824567
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q4",
        "box": [
          331.6419199999999,
          390.68148,
          341.96119999999996,
          397.90135929824567
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2",
        "box": [
          289.8216799999999,
          390.68148,
          300.1409599999999,
          397.90135929824567
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1",
        "box": [
          352.54327999999987,
          390.68148,
          362.86255999999986,
          397.90135929824567
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2022",
        "box": [
          45.890719999999874,
          404.59236,
          63.655999999999864,
          411.81223929824563
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2023",
        "box": [
          129.2375,
          404.58828,
          147.00277999999997,
          411.80815929824564
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2024",
        "box": [
          213.2111,
          404.58828,
          230.97637999999995,
          411.80815929824564
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2025",
        "box": [
          296.6984,
          404.58828,
          314.46368000000007,
          411.80815929824564
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2026",
        "box": [
          349.5553,
          404.58828,
          367.32058000000006,
          411.80815929824564
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FED RATE HIKE CYCLE",
        "box": [
          26.0316,
          301.84590000000003,
          131.35067999999995,
          310.45764513955726
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+32%",
        "box": [
          610.2482,
          196.21206,
          638.788712,
          205.32472444221105
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Equity",
        "box": [
          612.2202,
          296.23984,
          637.002816,
          304.2436972473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " REITs",
        "box": [
          613.0639199999999,
          307.1608,
          636.1723679999997,
          315.16465724735326
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Index",
        "box": [
          612.2296799999999,
          318.205,
          633.9881759999998,
          326.2088572473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6",
        "box": [
          633.9402,
          316.51504,
          636.92136,
          321.479457786333
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4.3%",
        "box": [
          554.3184,
          405.08957999999996,
          575.6960640000002,
          413.72906257940326
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.5%",
        "box": [
          675.32544,
          405.08957999999996,
          696.69888,
          413.72906257940326
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Regional ",
        "box": [
          666.2534,
          296.23974,
          702.2262080000003,
          304.24359724735325
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Bank ",
        "box": [
          673.4487200000001,
          307.1607,
          695.1541279999999,
          315.16455724735323
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Index ",
        "box": [
          669.7325600000001,
          318.2049,
          693.601304,
          326.2087572473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7",
        "box": [
          693.7334,
          316.51494,
          696.71456,
          321.479357786333
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+33%",
        "box": [
          668.4931,
          194.21226000000001,
          696.9086199999999,
          203.32492444221106
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 6,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "$1,591",
        "box": [
          80.4488,
          299.68102,
          114.18271999999999,
          309.22762084422106
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2,217",
        "box": [
          179.51216,
          268.83526,
          214.05286399999997,
          278.38186084422114
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2,817",
        "box": [
          278.57552,
          239.26726000000002,
          313.717088,
          248.81386084422115
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2024",
        "box": [
          87.2163,
          401.75958,
          107.50581599999998,
          410.1686958421559
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2025",
        "box": [
          186.63702,
          401.75958,
          206.92653600000003,
          410.1686958421559
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2026",
        "box": [
          278.96622,
          401.75958,
          313.41686400000003,
          410.1686958421559
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "> ",
        "box": [
          26.043,
          87.87313999999998,
          36.27924,
          100.45729565829146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2.6B loan originations over last 18 months, with positive rating and funding developments",
        "box": [
          36.123,
          87.87313999999998,
          700.9449839999999,
          100.45729565829146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "L O A N  P O R T F O L I O",
        "box": [
          159.9263,
          189.30338,
          257.29794799999996,
          198.21906908565933
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          258.8062,
          194.99138,
          259.15876,
          196.30847043310877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          260.2462,
          187.94114000000002,
          263.22736,
          192.90555778633302
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "( $ M )",
        "box": [
          200.0063,
          201.4493,
          222.41629999999998,
          208.8669842105263
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: As of 06/30/2026. Forward pipeline subject to change.",
        "box": [
          28.8,
          500.97472,
          212.50044,
          507.04752210526317
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.  As of end of period",
        "box": [
          28.79244,
          509.97112,
          95.31665999999996,
          516.0439221052632
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.25B Upsized Unsecured Revolver @ S+125",
        "box": [
          427.2888,
          345.49922000000004,
          698.3179919999992,
          356.1306618492462
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$275M New Unsecured Term Loan @ S+140",
        "box": [
          427.2888,
          396.89042,
          691.250232000001,
          407.5218618492462
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6",
        "box": [
          357.97,
          522.55872,
          362.04628,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "RECENT MOMENTUM",
        "box": [
          10.0,
          16.743720000000053,
          365.57850400000007,
          42.05631227502528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Origination Momentum",
        "box": [
          105.3022,
          156.64471999999995,
          305.36960800000014,
          168.3610028542713
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Capital Structure Momentum  ",
        "box": [
          423.3748,
          156.64471999999995,
          626.8943200000001,
          168.3610028542713
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(2025-2026)",
        "box": [
          626.8948,
          157.14367999999996,
          696.5318320000001,
          168.25934319672126
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Credit Rating Upgrades",
        "box": [
          427.2888,
          202.6544,
          575.9315999999997,
          213.50281005025124
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "IG ratings",
        "box": [
          428.2487,
          224.13238,
          470.2637720000001,
          233.04806908565934
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " from Moody's (Baa3) and Fitch (BBB-)",
        "box": [
          470.24582,
          224.13238,
          633.1655,
          232.8357961403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S&P upgrade to BB+ and outlook revised to Positive",
        "box": [
          428.2487,
          242.13718,
          647.5809559999993,
          250.8405961403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Recent vintage - 85% of portfolio originated since 2024",
        "box": [
          45.65989999999988,
          423.53686000000005,
          348.4372760000001,
          433.0834608442211
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "A C T I V E",
        "box": [
          349.6632,
          202.49472000000003,
          383.82596400000006,
          209.28280146294514
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "P I P E L I N E",
        "box": [
          345.10452000000004,
          212.09448000000003,
          388.62825600000014,
          218.88256146294515
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Inaugural IG Bond Issuance",
        "box": [
          427.2888,
          283.07730000000004,
          604.0127999999996,
          293.92571005025127
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~5.5x oversubscribed;  significant spread tightening since pricing",
        "box": [
          428.2487,
          303.88928,
          700.3328599999995,
          312.5926961403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 7,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Note: As of 06/30/2026. CRE Equity amounts shown at undepreciated value.",
        "box": [
          28.8,
          500.63068,
          274.36009200000046,
          507.08905684210526
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.  Represents amount invested since inception (asset value)",
        "box": [
          28.799999999999997,
          509.62744,
          221.97628800000038,
          516.0890568421053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "MULTI-CYLINDER STRATEGY",
        "box": [
          10.0,
          16.743720000000053,
          499.6578879999997,
          42.05631227502528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7",
        "box": [
          357.97,
          522.55872,
          362.04628,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Market intelligence",
        "box": [
          306.905,
          426.525,
          399.2598200000003,
          435.85171414821946
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "( W a t e r )",
        "box": [
          410.6404098646035,
          86.67469999999997,
          458.3146000000002,
          95.86907040618951
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "( S t e a m )",
        "box": [
          477.0198098646035,
          86.67469999999997,
          525.8937000000002,
          95.86907040618951
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "( I c e )",
        "box": [
          556.1448098646034,
          87.10579999999999,
          587.4993000000002,
          96.30017040618952
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans,  Securities,  Equity",
        "box": [
          412.5276,
          69.98363999999998,
          596.3188799999998,
          82.56779565829146
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CRE investing expressed in three forms",
        "box": [
          95.2699,
          73.28944000000001,
          390.68075200000004,
          86.41601616080402
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          390.7099,
          82.27072000000004,
          391.10614,
          83.68101330653269
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": ":",
        "box": [
          390.9499,
          73.28944000000001,
          396.27874,
          86.41601616080402
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SECURITIES",
        "box": [
          115.9695,
          396.7966,
          202.87758000000014,
          410.9806508180943
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$17B ",
        "box": [
          135.0495,
          416.75284,
          180.16974000000002,
          432.59151867336686
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          179.9295,
          414.23824,
          184.6923,
          423.0254521407035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LOANS",
        "box": [
          321.3375,
          164.74288,
          380.0292359999999,
          181.25716773820983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$33B  1",
        "box": [
          324.6975,
          185.36884000000003,
          377.5803,
          203.72211867336688
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "EQUITY",
        "box": [
          520.111,
          397.19939999999997,
          576.727,
          411.38345081809433
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2B ",
        "box": [
          528.271,
          417.15564,
          565.19308,
          432.9943186733668
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          565.111,
          415.13052,
          569.6974,
          423.59227983919595
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$52B +",
        "box": [
          315.7878,
          323.53502000000003,
          393.38796,
          342.8451898894473
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "investments",
        "box": [
          320.7078,
          348.83402,
          389.82583199999976,
          359.7265063157895
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "since ",
        "box": [
          340.87152000000003,
          361.07869999999997,
          373.0982160000001,
          371.97118631578945
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "inception",
        "box": [
          328.62684,
          373.0793,
          381.92035199999987,
          383.9717863157895
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 8,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "THREE FORMS OF CRE INVESTING",
        "box": [
          9.9999,
          17.196360000000027,
          579.347028,
          42.07440133468151
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.  Based on 06/30/2026 weighted-average LTV",
        "box": [
          28.8,
          509.20208,
          181.6677480000002,
          515.6604568421053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8",
        "box": [
          357.97128,
          522.55652,
          362.04756,
          529.1829845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LOANS",
        "box": [
          88.0852,
          187.63428,
          156.14884000000004,
          205.66828746871994
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SECURITIES",
        "box": [
          308.6149,
          192.70247999999998,
          415.07606799999957,
          209.2167677382098
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "EQUITY",
        "box": [
          568.8415,
          193.49548,
          637.694656,
          210.0097677382098
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Complementary investment products with focus on credit",
        "box": [
          135.3469,
          85.99485999999996,
          582.038548,
          99.44688846231156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Primary business of originating ",
        "box": [
          26.9584,
          293.16044,
          170.13543999999987,
          302.45727087719297
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "senior ",
        "box": [
          169.876,
          293.16044,
          201.46564,
          302.68401697786334
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "secured first mortgage loans",
        "box": [
          26.95840000000001,
          306.12116000000003,
          159.37319200000005,
          315.6447369778633
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " on commercial ",
        "box": [
          159.442,
          306.12116000000003,
          232.43488,
          315.417990877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "real estate, with ",
        "box": [
          26.95840000000001,
          319.08188,
          103.56539200000003,
          328.378710877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "middle-market focus",
        "box": [
          103.41875200000003,
          319.08188,
          200.06353600000006,
          328.60545697786335
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": ">  ",
        "box": [
          26.958400000000054,
          343.08572000000004,
          33.167919999999995,
          352.6092969778633
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "30% cushion",
        "box": [
          33.1984,
          343.08043999999995,
          91.58029599999998,
          352.60401697786335
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " from property owner equity ",
        "box": [
          91.51599999999999,
          343.08043999999995,
          222.49336,
          352.377270877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          222.4384,
          340.71404,
          225.72376,
          346.054772631579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Primarily focus on short-term, floating-rate ",
        "box": [
          26.9584,
          367.08043999999995,
          225.83043999999998,
          376.377270877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "loans on properties undergoing light ",
        "box": [
          26.95840000000004,
          380.16524,
          194.82848800000005,
          389.46207087719296
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "renovations and / ",
        "box": [
          26.95840000000004,
          393.12595999999996,
          106.93336,
          402.422790877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "or leasing - ",
        "box": [
          106.9984,
          393.12044000000003,
          161.62744,
          402.417270877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "'transitional' or 'bridge'  loans",
        "box": [
          26.955520000000007,
          406.08116,
          174.61861600000015,
          415.60473697786335
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Also originate longer-term, fixed-rate loans ",
        "box": [
          26.955520000000007,
          430.08500000000004,
          226.202056,
          439.381830877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "on stabilized properties and sell into ",
        "box": [
          26.966800000000006,
          443.1698,
          195.0038319999999,
          452.466630877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "securitizations - ",
        "box": [
          26.966800000000006,
          456.13052,
          103.55799999999999,
          465.42735087719296
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "'conduit' loans",
        "box": [
          103.41136,
          456.13052,
          175.94965599999998,
          465.65409697786333
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Invest in ",
        "box": [
          266.49760000000003,
          293.23604,
          307.6876480000001,
          302.532870877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "AAA bonds ",
        "box": [
          307.6538080000001,
          293.23604,
          361.9196320000002,
          302.75961697786335
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "backed by ",
        "box": [
          361.77976,
          293.23604,
          410.39768800000024,
          302.532870877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "senior ",
        "box": [
          410.38528,
          293.23604,
          441.97604800000005,
          302.75961697786335
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "secured first mortgage loans",
        "box": [
          266.50888000000003,
          306.19676000000004,
          398.92367200000007,
          315.7203369778633
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " on commercial ",
        "box": [
          398.99248,
          306.19676000000004,
          471.98536000000007,
          315.493590877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "real estate - ",
        "box": [
          266.50888000000003,
          319.15748,
          325.69504000000006,
          328.454310877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CMBS ",
        "box": [
          325.66120000000006,
          319.15748,
          355.6930720000001,
          328.68105697786336
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and",
        "box": [
          355.66600000000005,
          319.15748,
          372.8646160000001,
          328.454310877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " CRE CLOs",
        "box": [
          372.81949600000013,
          319.15748,
          418.60388800000004,
          328.68105697786336
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Short-duration, liquid, top-of-capital-stack ",
        "box": [
          266.5088800000001,
          346.1618,
          466.24045600000005,
          355.68537697786337
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "positions with ",
        "box": [
          266.5314400000001,
          359.24660000000006,
          333.1567600000003,
          368.54343087719303
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~",
        "box": [
          333.0157600000001,
          359.24660000000006,
          338.6332000000001,
          368.77017697786334
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          338.6013,
          365.37458000000004,
          338.95385999999996,
          366.69167043310875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "50% credit cushion",
        "box": [
          338.9613,
          359.23154,
          426.8652120000001,
          368.75511697786334
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " below",
        "box": [
          426.8088120000001,
          359.23154,
          457.42724400000003,
          368.52837087719297
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Complementary to lending business - ",
        "box": [
          266.47602,
          386.23586,
          443.8653,
          395.75943697786334
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "provides credit & pricing intelligence ",
        "box": [
          266.47601999999995,
          399.19658000000004,
          436.2952920000001,
          408.493410877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Holding ground ",
        "box": [
          266.47601999999995,
          426.20090000000005,
          341.0345640000002,
          435.72447697786333
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "for capital before ",
        "box": [
          340.8879240000002,
          426.20090000000005,
          422.5043640000004,
          435.497730877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "rotating into loan investments",
        "box": [
          266.47601999999995,
          439.16162,
          404.2025640000003,
          448.458450877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Directly ",
        "box": [
          504.1681799999999,
          293.7173,
          542.2381799999998,
          303.014130877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "own commercial real estate",
        "box": [
          541.9674599999998,
          293.7173,
          671.3501880000001,
          303.24087697786337
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Primarily focus on ",
        "box": [
          504.16817999999984,
          320.72162000000003,
          588.6779400000004,
          330.018450877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "net lease",
        "box": [
          588.5312999999999,
          320.72162000000003,
          630.6869159999997,
          330.2451969778634
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " properties with ",
        "box": [
          630.6530759999996,
          320.72162000000003,
          705.797052,
          330.018450877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "investment grade",
        "box": [
          504.1681799999999,
          333.68234000000007,
          585.9132119999996,
          343.20591697786335
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " tenants",
        "box": [
          585.8917799999999,
          333.68234000000007,
          623.0627639999998,
          342.97917087719304
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Also selectively invest in ",
        "box": [
          504.16817999999995,
          360.6866600000001,
          617.3539560000012,
          369.98349087719305
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "diversified / ",
        "box": [
          617.3291399999999,
          360.6866600000001,
          674.05692,
          370.21023697786336
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "opportunistic ",
        "box": [
          504.1782,
          373.63164,
          569.4916559999997,
          383.15521697786335
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "real estate",
        "box": [
          569.21868,
          373.63164,
          617.6730479999999,
          382.928470877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Longer-term cash flows",
        "box": [
          504.17819999999995,
          400.63596,
          613.2039120000002,
          410.15953697786335
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " complementary to ",
        "box": [
          613.26708,
          400.63596,
          702.5674560000008,
          409.932790877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "shorter-term interest income on loan & ",
        "box": [
          504.1782,
          413.72076000000004,
          686.5961039999995,
          423.017590877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "securities investments",
        "box": [
          504.17820000000006,
          426.68148,
          606.142632,
          435.978310877193
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 9,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "CURRENT INVESTMENT MIX",
        "box": [
          9.9999,
          17.196360000000027,
          479.347308,
          42.07440133468151
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "99%+",
        "box": [
          31.3718,
          306.50242000000003,
          70.30391600000002,
          318.7611233567839
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "First mortgages",
        "box": [
          126.0969,
          307.98468,
          189.03613200000004,
          316.19358385964915
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "68%",
        "box": [
          31.3718,
          343.51182,
          61.171256,
          355.7705233567839
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "W.A. LTV",
        "box": [
          126.0969,
          344.99418000000003,
          162.587352,
          353.20308385964915
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$25-$30M",
        "box": [
          31.3718,
          412.20011999999997,
          106.81014800000001,
          424.4588233567839
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Avg. loan size",
        "box": [
          126.0969,
          413.68248,
          180.61793999999998,
          421.8913838596491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.5-year",
        "box": [
          31.3718,
          376.78412000000003,
          90.35101999999999,
          389.0428233567839
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "W.A. extended maturity",
        "box": [
          126.0967,
          378.26648,
          223.73059600000013,
          386.4753838596491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "99%",
        "box": [
          272.8118,
          306.50242000000003,
          302.25055999999995,
          318.7611233567839
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "IG rated",
        "box": [
          366.4118,
          307.98468,
          399.23697199999987,
          316.19358385964915
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "96%",
        "box": [
          272.8118,
          343.51182,
          302.25055999999995,
          355.7705233567839
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "AAA-rated",
        "box": [
          366.4118,
          344.99418000000003,
          408.4798519999998,
          353.20308385964915
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$14M",
        "box": [
          272.8118,
          412.20011999999997,
          310.82048,
          424.4588233567839
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Avg. per CUSIP",
        "box": [
          366.4118,
          413.68248,
          426.03833599999996,
          421.8913838596491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.0-year",
        "box": [
          272.8118,
          376.78412000000003,
          333.2229560000001,
          389.0428233567839
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "W.A. duration",
        "box": [
          366.4118,
          379.47648,
          423.242564,
          387.6853838596491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100%",
        "box": [
          509.1149,
          322.88142000000005,
          546.5906719999999,
          335.14012335678393
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Leased",
        "box": [
          603.8398,
          324.36378,
          631.7517039999998,
          332.57268385964915
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~61%",
        "box": [
          508.5524,
          352.65442,
          545.3108479999997,
          364.9131233567839
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "IG tenants",
        "box": [
          603.8399,
          354.13667999999996,
          645.7754839999998,
          362.3455838596491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.2-year",
        "box": [
          509.1149,
          382.42732,
          568.7938159999999,
          394.68602335678395
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "W.A. lease term",
        "box": [
          603.8399,
          383.90958,
          668.5609759999995,
          392.11848385964913
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4M",
        "box": [
          509.1149,
          412.20011999999997,
          540.51986,
          424.4588233567839
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Avg. investment size",
        "box": [
          603.8399,
          413.68248,
          686.802716,
          421.8913838596491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: As of 06/30/2026. CRE Equity amounts shown at undepreciated value. Asset mix percentages exclude cash and all other assets.  See Selected Definitions for non-GAAP measures.",
        "box": [
          28.8,
          499.60208,
          620.7508200000001,
          506.0604568421053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.  Represents metrics for $597M net lease portfolio (excludes $461M diversified / other CRE equity investments)",
        "box": [
          28.80180000000007,
          509.20184,
          389.28662399999996,
          515.6604568421053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9",
        "box": [
          357.966,
          522.55652,
          362.04228,
          529.1829845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LOANS",
        "box": [
          94.4477,
          174.67630000000003,
          149.80034,
          188.86035081809433
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2.8B",
        "box": [
          93.6077,
          197.05882000000003,
          152.73562399999994,
          214.74172838190952
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(49% of portfolio)",
        "box": [
          88.2077,
          222.10114,
          157.97688799999983,
          229.9090284210526
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SECURITIES",
        "box": [
          314.6124,
          180.7561,
          408.68904,
          194.43357757459097
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.9B",
        "box": [
          336.9324,
          202.28050000000002,
          388.40700000000004,
          218.55311507537687
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(33% of portfolio)",
        "box": [
          327.6924,
          225.88173999999998,
          397.4615880000005,
          233.6896284210526
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "EQUITY",
        "box": [
          572.9189,
          181.5491,
          633.3027799999999,
          195.22657757459098
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.1B",
        "box": [
          579.879,
          203.07350000000002,
          628.4718000000003,
          219.34611507537687
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(18% of portfolio)",
        "box": [
          569.199,
          226.67473999999999,
          638.9681879999998,
          234.4826284210526
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diversified, granular asset base with senior secured focus",
        "box": [
          133.9069,
          85.99485999999996,
          583.3825960000003,
          99.44688846231156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NET LEASE PORTFOLIO METRICS",
        "box": [
          513.855,
          299.69584,
          685.903463999999,
          308.2062704908566
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 10,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "INVESTMENT ALLOCATION OVER TIME",
        "box": [
          10.0,
          16.743720000000053,
          667.2529239999998,
          42.05631227502528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Flexibility to rotate across products based on market conditions",
        "box": [
          110.8825,
          93.48816,
          608.9860360000005,
          106.9401884623116
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17%",
        "box": [
          126.744,
          338.2301,
          142.43099999999998,
          345.82869865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27%",
        "box": [
          126.744,
          297.83810000000005,
          142.43099999999998,
          305.43669865255055
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "54%",
        "box": [
          126.744,
          223.4801,
          142.43099999999998,
          231.0786986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2014",
        "box": [
          126.8222,
          362.1161,
          145.07419999999996,
          369.7146986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16%",
        "box": [
          172.547,
          339.1481,
          188.23399999999998,
          346.74669865255055
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "33%",
        "box": [
          172.547,
          294.16610000000003,
          188.23399999999998,
          301.7646986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "48%",
        "box": [
          172.547,
          219.80810000000002,
          188.23399999999998,
          227.40669865255052
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2015",
        "box": [
          171.347,
          362.1161,
          189.59899999999996,
          369.7146986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17%",
        "box": [
          218.3501,
          338.2301,
          234.03709999999998,
          345.82869865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "33%",
        "box": [
          218.3501,
          292.3302,
          234.03709999999998,
          299.92879865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "48%",
        "box": [
          218.3501,
          217.9721,
          234.03709999999998,
          225.5706986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2016",
        "box": [
          217.1501,
          362.1161,
          235.40209999999996,
          369.7146986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20%",
        "box": [
          264.1532,
          335.4762,
          279.8402,
          343.0747986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "50%",
        "box": [
          264.1532,
          271.21610000000004,
          279.8402,
          278.81469865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "29%",
        "box": [
          264.1532,
          198.6941,
          279.8402,
          206.29269865255048
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2017",
        "box": [
          262.9532,
          362.1161,
          281.20519999999993,
          369.7146986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "19%",
        "box": [
          309.9562,
          336.3941,
          325.6432,
          343.99269865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "60%",
        "box": [
          309.9562,
          263.8721,
          325.6432,
          271.4706986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "19%",
        "box": [
          309.9562,
          191.3501,
          325.6432,
          198.9486986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2018",
        "box": [
          308.7563,
          362.1161,
          327.00829999999996,
          369.7146986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "19%",
        "box": [
          355.7593,
          336.3941,
          371.44629999999995,
          343.99269865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "53%",
        "box": [
          355.7593,
          270.29810000000003,
          371.44629999999995,
          277.8966986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27%",
        "box": [
          355.7593,
          196.85810000000004,
          371.44629999999995,
          204.45669865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2019",
        "box": [
          354.5593,
          362.1161,
          372.81129999999996,
          369.7146986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "19%",
        "box": [
          401.5624,
          336.3941,
          417.2494,
          343.99269865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "46%",
        "box": [
          401.5624,
          276.7242,
          417.2494,
          284.32279865255055
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "24%",
        "box": [
          401.5624,
          212.46410000000003,
          417.2494,
          220.06269865255052
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11%",
        "box": [
          401.5624,
          180.3342,
          417.2494,
          187.9327986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2020",
        "box": [
          400.3654,
          362.11620000000005,
          418.6174,
          369.71479865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "21%",
        "box": [
          447.3655,
          334.5581,
          463.05249999999995,
          342.1566986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "47%",
        "box": [
          447.3655,
          272.1341,
          463.05249999999995,
          279.7326986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14%",
        "box": [
          447.3655,
          216.13600000000002,
          463.05249999999995,
          223.73459865255052
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18%",
        "box": [
          447.3655,
          186.7602,
          463.05249999999995,
          194.3587986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2021",
        "box": [
          446.1685,
          362.11620000000005,
          464.42049999999995,
          369.71479865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17%",
        "box": [
          493.1685,
          338.2301,
          508.85549999999995,
          345.82869865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "65%",
        "box": [
          493.1685,
          262.95410000000004,
          508.85549999999995,
          270.55269865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11%",
        "box": [
          493.1685,
          193.1861,
          508.85549999999995,
          200.7846986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7%",
        "box": [
          496.2885,
          176.97050000000002,
          505.9371,
          183.55595216554383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2022",
        "box": [
          491.9685,
          362.1161,
          510.22049999999996,
          369.7146986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16%",
        "box": [
          538.9716,
          339.1481,
          554.6586,
          346.74669865255055
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "62%",
        "box": [
          538.9716,
          267.5441,
          554.6586,
          275.1426986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9%",
        "box": [
          541.2516,
          202.38479999999998,
          552.3756000000001,
          209.98339865255048
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13%",
        "box": [
          538.9716,
          182.17020000000002,
          554.6586,
          189.76879865255052
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2023",
        "box": [
          537.7746,
          362.11620000000005,
          556.0265999999999,
          369.71479865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18%",
        "box": [
          584.7747,
          337.3121,
          600.4617000000001,
          344.91069865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "46%",
        "box": [
          584.7747,
          278.5601,
          600.4617000000001,
          286.1586986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13%",
        "box": [
          584.7747,
          224.3981,
          600.4617000000001,
          231.9966986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "24%",
        "box": [
          584.7747,
          190.4321,
          600.4617000000001,
          198.03069865255048
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2024",
        "box": [
          583.5777,
          362.11609999999996,
          601.8297,
          369.7146986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "19%",
        "box": [
          630.5777,
          336.3941,
          646.2647000000001,
          343.99269865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "38%",
        "box": [
          630.5777,
          284.0681,
          646.2647000000001,
          291.6666986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "35%",
        "box": [
          630.5777,
          217.0541,
          646.2647000000001,
          224.6526986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8%",
        "box": [
          633.6977,
          177.88850000000002,
          643.3463,
          184.47395216554384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2025",
        "box": [
          629.3777,
          362.1161,
          647.6297,
          369.7146986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18%",
        "box": [
          676.3808,
          337.3121,
          692.0678,
          344.91069865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "46%",
        "box": [
          676.3808,
          280.396,
          692.0678,
          287.9945986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "36%",
        "box": [
          676.3808,
          206.0381,
          692.0678,
          213.63669865255048
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2026",
        "box": [
          668.8233,
          362.1161,
          699.6753,
          369.7146986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Securities:  % IG",
        "box": [
          44.529300000000035,
          392.37,
          102.5776,
          399.97269865255055
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "99%",
        "box": [
          127.9189,
          392.25300000000004,
          143.6059,
          399.85159865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "98%",
        "box": [
          174.0709,
          392.25300000000004,
          189.75789999999998,
          399.85159865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "98%",
        "box": [
          217.4779,
          392.25300000000004,
          233.1649,
          399.85159865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100%",
        "box": [
          261.3979,
          392.25300000000004,
          281.64789999999994,
          399.85159865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100%",
        "box": [
          306.3979,
          392.25300000000004,
          326.64789999999994,
          399.85159865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100%",
        "box": [
          354.19689999999997,
          392.25300000000004,
          374.4468999999999,
          399.85159865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100%",
        "box": [
          398.3959,
          392.25300000000004,
          418.6458999999999,
          399.85159865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100%",
        "box": [
          444.19689999999997,
          392.25300000000004,
          464.4468999999999,
          399.85159865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "99%",
        "box": [
          493.0759,
          392.25300000000004,
          508.76289999999995,
          399.85159865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "99%",
        "box": [
          537.6799,
          392.25300000000004,
          553.3669,
          399.85159865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "98%",
        "box": [
          583.0849,
          392.25300000000004,
          598.7719,
          399.85159865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "99%",
        "box": [
          629.6868999999999,
          392.25300000000004,
          645.3738999999999,
          399.85159865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "99%",
        "box": [
          678.2869,
          392.25300000000004,
          693.9739,
          399.85159865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans:  % Sr. Secured",
        "box": [
          44.5249,
          414.7702,
          120.8773,
          422.36879865255054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "89%",
        "box": [
          127.91890000000001,
          414.7972,
          143.6059,
          422.3957986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "88%",
        "box": [
          174.0709,
          414.7972,
          189.75789999999998,
          422.3957986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "91%",
        "box": [
          217.4779,
          414.7972,
          233.1649,
          422.3957986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "94%",
        "box": [
          263.6839,
          414.7972,
          279.37089999999995,
          422.3957986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "96%",
        "box": [
          308.6839,
          414.7972,
          324.37089999999995,
          422.3957986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "96%",
        "box": [
          356.4829,
          414.7972,
          372.1698999999999,
          422.3957986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "96%",
        "box": [
          400.6819,
          414.7972,
          416.36889999999994,
          422.3957986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "96%",
        "box": [
          446.4829,
          414.7972,
          462.1698999999999,
          422.3957986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "98%",
        "box": [
          493.08489999999995,
          414.7972,
          508.7718999999999,
          422.3957986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "99%",
        "box": [
          537.6889,
          414.7972,
          553.3759,
          422.3957986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "99%",
        "box": [
          583.0939,
          414.7972,
          598.7809,
          422.3957986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": ">99%",
        "box": [
          627.5359,
          414.7972,
          647.6599,
          422.3957986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": ">99%",
        "box": [
          676.1359,
          414.7972,
          696.2626,
          422.3957986525505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "44%",
        "box": [
          127.9161,
          436.3162,
          143.60309999999998,
          443.91479865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "58%",
        "box": [
          174.06810000000002,
          436.3162,
          189.7551,
          443.91479865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "66%",
        "box": [
          217.47510000000003,
          436.3162,
          233.1621,
          443.91479865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "67%",
        "box": [
          263.6811,
          436.3162,
          279.36809999999997,
          443.91479865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "67%",
        "box": [
          308.6811,
          436.3162,
          324.36809999999997,
          443.91479865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "67%",
        "box": [
          356.4801,
          436.3162,
          372.16709999999995,
          443.91479865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "67%",
        "box": [
          400.6791,
          436.3162,
          416.36609999999996,
          443.91479865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "67%",
        "box": [
          446.4801,
          436.3162,
          462.16709999999995,
          443.91479865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "66%",
        "box": [
          493.08209999999997,
          436.3162,
          508.7690999999999,
          443.91479865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "72%",
        "box": [
          537.6861,
          436.3162,
          553.3731,
          443.91479865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "68%",
        "box": [
          583.0911,
          436.3162,
          598.7781,
          443.91479865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "64%",
        "box": [
          629.6931,
          436.3162,
          645.3801,
          443.91479865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "58%",
        "box": [
          678.2931,
          436.3162,
          693.9801,
          443.91479865255053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: Data shown since LADR's IPO. Represents average asset allocation during each year or year-to-date period shown, based on quarter-end amounts; excludes other assets.",
        "box": [
          28.7999,
          499.23258,
          595.8972799999997,
          505.69095684210527
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.  Represents cash and cash equivalents, including Treasury Bills",
        "box": [
          28.791860000000042,
          508.83234,
          237.29158400000054,
          515.2909568421053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10",
        "box": [
          355.92902,
          522.55686,
          364.08559999999994,
          529.1833245614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cash ",
        "box": [
          72.8752,
          194.44538,
          93.68271999999999,
          202.85449584215593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          93.6352,
          192.70394,
          96.61636,
          197.668357786333
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          96.6352,
          194.44538,
          98.88616,
          202.85449584215593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Securities",
        "box": [
          64.10584,
          244.82306,
          104.31934000000003,
          253.23217584215593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans",
        "box": [
          70.5852,
          297.9047,
          97.8141,
          307.529591626564
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Liquidity & Seniority",
        "box": [
          41.83914,
          236.5926760000002,
          51.442584732394366,
          333.9883
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$",
        "box": [
          81.7877,
          177.90054000000003,
          86.59406,
          185.71383403508776
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Equity",
        "box": [
          71.0627,
          347.71227999999996,
          97.26347599999998,
          356.12139584215595
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Equity:  % Net Lease",
        "box": [
          44.5249,
          435.7835,
          118.29430000000002,
          443.38209865255055
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Move to 'higher ground' during market disruptions",
        "box": [
          412.7683,
          146.02371999999997,
          634.6976920000002,
          154.07414694898938
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 11,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "11",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "EARNINGS DRIVERS",
        "box": [
          10.0,
          17.193719999999985,
          351.5258079999999,
          42.506312275025266
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investment",
        "box": [
          146.1417,
          124.0901,
          217.14569999999998,
          134.93851005025124
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Products",
        "box": [
          153.34169999999997,
          138.49009999999998,
          209.82569999999996,
          149.33851005025122
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Carry ",
        "box": [
          335.7537,
          124.0901,
          376.12170000000003,
          134.93851005025124
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Revenue",
        "box": [
          327.59369999999996,
          138.49009999999998,
          381.19770000000005,
          149.33851005025122
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Gain-on-Sale",
        "box": [
          486.2337,
          124.0901,
          568.1577,
          134.93851005025124
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Upside",
        "box": [
          505.67370000000005,
          138.49009999999998,
          548.8377000000003,
          149.33851005025122
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest & ",
        "box": [
          330.1267,
          185.66670000000005,
          380.46225999999984,
          195.291591626564
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "fee income",
        "box": [
          327.72130000000004,
          199.34670000000006,
          380.2547799999999,
          208.97159162656402
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Conduit loan",
        "box": [
          478.5205000000001,
          185.66670000000005,
          539.00434,
          195.291591626564
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "    securitizations",
        "box": [
          466.0375000000001,
          199.34670000000006,
          544.9904799999996,
          208.97159162656402
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net operating ",
        "box": [
          321.12070000000006,
          263.14110000000005,
          389.57998,
          272.765991626564
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Income",
        "box": [
          336.47650000000004,
          276.82110000000006,
          371.4916,
          286.445991626564
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real estate sales ",
        "box": [
          468.68230000000005,
          263.14110000000005,
          549.8651199999998,
          272.765991626564
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "    (NAV upside)",
        "box": [
          466.0375000000001,
          276.82110000000006,
          538.84132,
          286.445991626564
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest ",
        "box": [
          335.4049000000001,
          338.44950000000006,
          375.18064,
          348.0743916265641
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "income",
        "box": [
          336.6019000000001,
          352.1295,
          371.37076,
          361.75439162656403
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Securities ",
        "box": [
          485.2351000000001,
          338.44950000000006,
          533.7740199999997,
          348.0743916265641
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "            sales",
        "box": [
          466.0375000000001,
          352.1295,
          519.07486,
          361.75439162656403
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I L LUSTRATIVE",
        "box": [
          175.2867,
          442.02366,
          262.9732920000001,
          452.7630127622714
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LEVERED ROE:",
        "box": [
          171.57246,
          459.42462,
          263.04579599999994,
          470.16397276227144
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "'CARRY' ROE",
        "box": [
          323.6317,
          441.7787,
          390.6877,
          451.9101648700674
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  8.0% - 9.0%",
        "box": [
          319.4317,
          460.1387,
          384.93969999999996,
          470.2701648700674
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          384.9517,
          465.21998,
          385.84666000000004,
          468.5633634071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          385.7917,
          457.7723,
          389.4421,
          463.8511789220404
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "TOTAL ROE",
        "box": [
          500.0317,
          441.7787,
          554.3677000000001,
          451.9101648700674
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9.0% - 10.0%  +",
        "box": [
          488.5116,
          460.1387,
          561.4477,
          470.2701648700674
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          561.4717,
          465.21998,
          562.36666,
          468.5633634071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          562.4316,
          457.7723,
          566.082,
          463.8511789220404
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: Returns shown are strictly for illustrative purposes and are based on management's view of current market conditions.",
        "box": [
          29.7624,
          499.35108,
          432.82689600000026,
          505.80945684210525
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1. Based on 3.0x total leverage (debt/GAAP book equity) with blended total company cost-of-funds of ~5.5%, and net of all estimated corporate overhead expenses and corporate debt service.",
        "box": [
          29.7624,
          508.95083999999997,
          647.6347919999988,
          515.4092168421053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+",
        "box": [
          433.1012,
          190.83202,
          443.97752,
          209.2712860635226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+",
        "box": [
          434.6873,
          265.69201999999996,
          445.56362,
          283.6922670175438
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+",
        "box": [
          434.6873,
          340.40982,
          445.56362,
          358.41006701754384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Durable 'Carry'' earnings enhanced by ROE upside from gains",
        "box": [
          102.7783,
          81.02913999999998,
          605.6538159999997,
          94.15571616080399
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LOANS",
        "box": [
          162.8165,
          193.03895999999997,
          201.95721199999994,
          203.7783127622714
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SECURITIES",
        "box": [
          151.5984,
          346.06010000000003,
          216.31440000000006,
          356.1915648700674
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "EQUITY",
        "box": [
          162.50639999999999,
          272.4401,
          204.50640000000004,
          282.57156487006733
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LEVERED WITH IG CAPITAL STRUCTURE",
        "box": [
          240.405,
          401.21026,
          457.4463599999997,
          411.9496127622714
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$371M",
        "box": [
          565.7439,
          191.47652,
          605.2516200000002,
          202.10796184924624
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$216M",
        "box": [
          565.3793400000001,
          269.26892,
          605.7290760000001,
          279.9003618492462
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$53M",
        "box": [
          572.5764600000001,
          343.22756,
          606.6851640000002,
          353.85900184924617
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Gains ",
        "box": [
          637.7777,
          245.81760000000003,
          676.67108,
          256.12358954773873
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "since ",
        "box": [
          639.9322999999999,
          258.89340000000004,
          674.5096400000001,
          269.19938954773875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "IPO",
        "box": [
          644.1274999999999,
          271.8552,
          667.1520799999998,
          282.16118954773873
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(2014)",
        "box": [
          639.3377,
          284.6334,
          672.0670999999999,
          294.4413381147541
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 12,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "12",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Path to closing gap to book with levers we control",
        "box": [
          146.3623,
          99.06556,
          577.621168,
          113.06000896482414
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "BRIDGING TO BOOK VALUE",
        "box": [
          10.0,
          17.193719999999985,
          471.7873600000002,
          42.506312275025266
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Current ",
        "box": [
          79.9269,
          159.30642,
          134.18112000000002,
          170.48028235175877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Stock Price  1",
        "box": [
          66.60282000000001,
          172.96230000000003,
          144.29489999999998,
          186.43704235175875
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book Value",
        "box": [
          579.4935,
          159.75082000000003,
          653.2184280000006,
          170.9246823517588
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Per Share  2",
        "box": [
          581.2980600000001,
          173.4067,
          651.2007,
          186.88144235175878
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note:  As of 06/30/2026",
        "box": [
          27.36,
          491.96582,
          99.83360399999998,
          498.03862210526313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.  Based on 07/22/2026 LADR closing stock price",
        "box": [
          27.35664,
          500.96222,
          175.92658799999998,
          507.03862210526313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.  Represents undepreciated book value per share",
        "box": [
          27.362759999999994,
          509.96222,
          180.49812000000014,
          516.0385221052632
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Rotate into loans",
        "box": [
          181.2689,
          298.86072,
          280.74467599999997,
          308.9497413467337
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Increases carry and ",
        "box": [
          193.0913,
          323.79226,
          273.4047439999999,
          331.99874654475457
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "lifts run-rate earnings",
        "box": [
          188.41598,
          334.83418,
          276.0524719999999,
          343.0406665447546
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          227.5763,
          272.98958,
          234.45122,
          284.4381353031762
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Generate gains",
        "box": [
          311.2975,
          267.53802,
          399.14901999999984,
          277.6270413467337
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Supplement carry with ",
        "box": [
          309.7875,
          285.81435999999997,
          404.2649280000006,
          294.0208465447546
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "gains across products - ",
        "box": [
          308.95158000000004,
          296.85627999999997,
          405.11154000000005,
          305.0627665447546
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "market undervalues",
        "box": [
          315.55146,
          307.8982,
          396.4617119999998,
          316.1046865447546
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+",
        "box": [
          324.7983,
          325.0756,
          333.7623,
          340.2727973051011
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+",
        "box": [
          377.7738,
          325.1304,
          386.7378,
          339.96576842105264
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+",
        "box": [
          351.3906,
          325.1304,
          360.3546,
          339.96576842105264
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          351.365,
          245.66677999999996,
          358.23992,
          257.1153353031761
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Buy back stock",
        "box": [
          439.5418,
          254.91521999999998,
          527.099812,
          265.00424134673364
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accretively repurchasing ",
        "box": [
          433.9668,
          280.73576,
          535.4056920000003,
          288.9422465447546
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "shares below book value",
        "box": [
          433.49052,
          291.77768000000003,
          533.6667840000005,
          299.9841665447546
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3",
        "box": [
          478.6029,
          227.67537999999996,
          485.47781999999995,
          239.1239353031761
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$9.75",
        "box": [
          85.7118,
          280.59386,
          128.81895599999996,
          294.58830896482414
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Discount to book",
        "box": [
          69.0464,
          342.40078,
          143.3528960000001,
          351.31646908565926
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dividend yield",
        "box": [
          74.92832000000001,
          384.21838,
          137.59664000000006,
          393.1340690856593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27%",
        "box": [
          96.8132,
          324.48528,
          122.2112,
          335.5506582512563
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9.4%",
        "box": [
          93.39824,
          365.67288,
          123.96152000000001,
          376.7382582512563
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.44",
        "box": [
          589.1584,
          239.0953,
          641.8848399999999,
          253.19823306532663
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total return ",
        "box": [
          590.0813,
          306.20308,
          644.7842119999993,
          315.1187690856593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "potential",
        "box": [
          596.2061000000001,
          318.80116,
          636.2422279999995,
          327.7168490856593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Yield 'while ",
        "box": [
          589.8489800000001,
          362.02324,
          644.9172680000001,
          370.9389290856593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "you wait'",
        "box": [
          594.8861,
          374.62132,
          637.5210440000002,
          383.5370090856593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "30%+",
        "box": [
          598.7997,
          286.23158,
          634.5196919999998,
          297.2969582512563
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "> 9%",
        "box": [
          602.99802,
          342.3887,
          631.15544,
          353.4602582512563
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "steep",
        "box": [
          93.4031,
          217.61257999999998,
          119.402612,
          225.9776856016178
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "discount",
        "box": [
          85.00394,
          231.52801999999997,
          127.78975999999997,
          239.89312560161778
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 13,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "13",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Optimize asset mix and supplement Carry earnings with gains",
        "box": [
          100.3003,
          81.47273999999999,
          606.13354,
          94.599316160804
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "PATH TO EARNINGS GROWTH",
        "box": [
          10.0,
          17.193719999999985,
          511.31161599999973,
          42.506312275025266
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Current Asset Mix  ",
        "box": [
          102.3688,
          120.86622,
          228.12928000000002,
          132.58250285427135
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(Q2 2026)",
        "box": [
          135.1288,
          136.24518,
          191.44626400000004,
          147.3608431967213
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "49%",
        "box": [
          156.3055,
          224.03557999999998,
          181.6516,
          234.55853774874373
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans",
        "box": [
          154.6255,
          209.6057,
          183.29349999999997,
          219.73716487006737
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "33%",
        "box": [
          157.263,
          300.63468,
          180.65124,
          310.61521724623117
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Securities",
        "box": [
          146.69772,
          287.17692,
          191.18340000000003,
          296.497867680462
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18%",
        "box": [
          157.73772,
          354.56507999999997,
          180.28250400000005,
          364.54561724623113
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Equity",
        "box": [
          154.503,
          342.60875999999996,
          183.50507999999996,
          351.929707680462
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Run-Rate Asset Mix",
        "box": [
          305.8543,
          120.86622,
          438.79409200000015,
          132.58250285427135
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(Illustrative)",
        "box": [
          335.01430000000005,
          136.47006,
          409.59002799999985,
          148.23958573770494
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "65%",
        "box": [
          362.0799,
          232.17537999999996,
          386.83236,
          242.6983377487437
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans",
        "box": [
          360.0399,
          217.7455,
          388.70790000000005,
          227.87696487006735
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20%",
        "box": [
          362.1999,
          312.23528,
          386.660124,
          322.21581724623115
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Securities",
        "box": [
          352.12038,
          298.77752,
          396.60605999999996,
          308.09846768046197
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "15%",
        "box": [
          363.5247,
          356.95831999999996,
          385.22934000000004,
          366.9388572462311
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Equity",
        "box": [
          359.92566,
          343.50055999999995,
          388.9277400000001,
          352.821507680462
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ROE ",
        "box": [
          559.146,
          120.86622,
          592.7940479999999,
          132.58250285427135
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Enhancements",
        "box": [
          524.3484,
          136.47006,
          624.4021919999994,
          148.18634285427135
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ROE  ",
        "box": [
          76.3172,
          389.44586000000004,
          105.22976,
          401.19835924927816
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          106.5572,
          386.96618,
          110.69431999999999,
          393.8555761116458
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "DEPS  ",
        "box": [
          76.3172,
          421.48586,
          112.18975999999999,
          433.2383592492781
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          113.3972,
          419.00618,
          117.53432,
          425.8955761116458
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~8.0%",
        "box": [
          144.0946,
          390.101,
          181.5949,
          400.4069895477387
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Conduit loan",
        "box": [
          550.3782,
          213.98003999999997,
          603.7991759999999,
          222.49047049085658
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "securitization",
        "box": [
          548.8158,
          225.01763999999997,
          605.3555279999996,
          233.52807049085658
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "gains",
        "box": [
          566.21388,
          236.05523999999997,
          587.8747920000002,
          244.56567049085658
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Securities",
        "box": [
          555.99276,
          283.66308,
          596.6151599999997,
          292.1735104908566
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "gains-on-sale",
        "box": [
          548.67468,
          294.70068,
          604.0320240000002,
          303.2111104908566
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Equity",
        "box": [
          563.0790000000001,
          342.85284,
          589.583352,
          351.3632704908566
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NAV upside",
        "box": [
          551.9204400000001,
          353.89044,
          600.79836,
          362.4008704908566
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Increase ",
        "box": [
          243.9386,
          290.75214,
          290.07749600000017,
          299.5393521407035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "allocation ",
        "box": [
          240.0992,
          302.75634,
          294.04908800000015,
          311.5435521407035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "to loans",
        "box": [
          245.50352,
          314.76054,
          286.05633200000005,
          323.54775214070355
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Generate",
        "box": [
          454.04612,
          290.64522,
          500.3706680000002,
          299.43243214070355
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "gains-on-sale",
        "box": [
          442.88755999999995,
          302.64941999999996,
          511.545752,
          311.4366321407035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+",
        "box": [
          571.9638,
          189.03818,
          581.7046799999999,
          205.55246773820983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+",
        "box": [
          572.4561,
          322.6474,
          581.4201,
          337.48276842105264
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+",
        "box": [
          572.1561,
          264.1535,
          581.1201000000001,
          278.98886842105264
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~$0.23",
        "box": [
          141.4989,
          420.5639,
          182.94017999999994,
          430.8698895477387
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~8.5%-9.0%",
        "box": [
          336.9747,
          390.1031,
          406.8669599999999,
          400.4090895477387
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.24-$0.25",
        "box": [
          334.4097,
          420.5639,
          405.55595999999986,
          430.8698895477387
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~9.0%-10.0%+",
        "box": [
          532.3365,
          390.1031,
          617.5104600000002,
          400.4090895477387
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.26-$0.27",
        "box": [
          541.1145,
          420.5639,
          611.8845600000002,
          430.8698895477387
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note:  Asset mix percentages exclude cash and all other assets",
        "box": [
          27.36,
          499.94572,
          216.6635760000004,
          506.0185221052632
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.  Represents illustrative ROE and illustrative quarterly Distributable EPS",
        "box": [
          27.35664,
          508.94212,
          248.82464400000063,
          515.0186221052631
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Earnings growth = dividend growth",
        "box": [
          370.1542,
          469.51099999999997,
          579.0521200000002,
          479.27456904522614
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Current dividend level",
        "box": [
          101.554,
          468.9954,
          231.25552,
          478.75896904522614
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 14,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "SIGNIFICANT UPSIDE POTENTIAL",
        "box": [
          10.0,
          16.743720000000053,
          577.4677719999996,
          42.05631227502528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Earnings growth and yield compression = stock price upside",
        "box": [
          110.1733,
          86.66915999999998,
          598.0518159999998,
          100.6636089648241
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.  Represents approximate average dividend yield for LADR stock over last 10 years, excluding 12-month period following onset of COVID in March 2020",
        "box": [
          27.36,
          491.48572,
          492.11024400000014,
          497.55852210526314
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.  Hypothetical upside percentages based on implied stock price at $0.25 hypothetical quarterly dividend versus current stock price",
        "box": [
          27.360000000000014,
          500.48212,
          427.216715999999,
          506.55492210526313
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.  Based on implied stock price at $0.25 hypothetical quarterly dividend versus $13.44 undepreciated book value per share as of 06/30/2026",
        "box": [
          27.360000000000014,
          509.47852,
          456.11708400000015,
          515.5513221052631
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$10.82",
        "box": [
          295.2938,
          339.6818,
          326.79854000000006,
          348.9448526639344
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+21%",
        "box": [
          294.9488,
          253.17162000000002,
          326.642,
          263.80306184924626
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+47%",
        "box": [
          529.8548,
          223.36002000000002,
          562.8651199999999,
          233.99146184924626
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "PREMIUM/(DISCOUNT)",
        "box": [
          65.8685,
          441.77288,
          190.06187599999987,
          450.6410989473684
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "TO BOOK VALUE ",
        "box": [
          65.8685,
          454.73384,
          155.50106000000002,
          463.6020589473684
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3",
        "box": [
          156.8285,
          451.94744000000003,
          160.23554,
          457.34548631578946
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "HISTORICAL RANGE  1",
        "box": [
          378.0278,
          165.20192000000003,
          479.17568,
          174.81014513955722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+28%",
        "box": [
          371.2575,
          243.94582000000003,
          405.10278000000005,
          254.57726184924627
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+37%",
        "box": [
          450.01422,
          233.72638,
          482.6599800000001,
          244.35782184924625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(12%)",
        "box": [
          299.1358,
          447.8808,
          324.36568,
          456.5562315789474
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+",
        "box": [
          538.0966000000001,
          447.8808,
          543.4750000000001,
          456.5562315789474
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " 6%",
        "box": [
          543.5014,
          447.8808,
          557.1022999999999,
          456.5562315789474
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1%)",
        "box": [
          459.12469999999996,
          447.8808,
          478.83577999999994,
          456.5562315789474
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$11.76",
        "box": [
          294.8113,
          275.0313,
          327.0993999999999,
          284.2524485427135
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.23 current ",
        "box": [
          80.1151,
          331.23116,
          133.59727599999997,
          338.75057922131145
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.25 hypothetical ",
        "box": [
          70.99882,
          234.18128000000002,
          142.7127279999999,
          241.70069922131148
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$9.75",
        "box": [
          216.6718,
          343.3867,
          241.85968000000003,
          352.6497526639344
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(current)",
        "box": [
          211.2719,
          359.38462,
          247.1940319999999,
          367.3399475819672
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(21%)",
        "box": [
          216.0606,
          447.8808,
          241.28940000000003,
          456.5562315789474
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$11.50",
        "box": [
          375.201,
          336.1441,
          404.7432600000001,
          345.4071526639344
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$12.50",
        "box": [
          371.7228,
          267.3145,
          406.22837999999996,
          276.5356485427136
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$12.27",
        "box": [
          452.2834,
          329.8329,
          482.07454,
          339.09595266393444
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.33",
        "box": [
          450.121,
          260.6361,
          484.10026,
          269.8572485427136
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.14",
        "box": [
          532.4529,
          324.0374,
          561.7401600000003,
          333.3004526639344
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$14.29",
        "box": [
          530.7699,
          252.2396,
          565.2193799999998,
          261.4607485427136
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(7%)",
        "box": [
          380.6777,
          447.8808,
          400.38878,
          456.5562315789474
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LADR Stock Price at Range of Dividend Yields",
        "box": [
          202.5063,
          132.84114,
          506.2230120000003,
          144.3404546532663
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Run-rate ROE",
        "box": [
          102.63408,
          257.121544,
          110.44493523618091,
          319.873
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+58%",
        "box": [
          608.1184,
          202.10712,
          641.72848,
          212.73856184924625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+",
        "box": [
          614.405,
          447.8808,
          619.7834,
          456.5562315789474
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " 14%",
        "box": [
          619.805,
          447.8808,
          638.9245999999998,
          456.5562315789474
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$14.15",
        "box": [
          611.6365,
          322.5974,
          640.6626399999998,
          331.86045266393444
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$15.38",
        "box": [
          609.9535,
          237.356,
          644.2040800000002,
          246.5771485427136
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+9%",
        "box": [
          214.7692,
          268.72222,
          240.948136,
          279.35366184924624
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$10.60",
        "box": [
          210.5161,
          290.2576,
          246.3385,
          299.47874854271356
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Quarterly Dividend",
        "box": [
          67.1298,
          215.59734000000003,
          145.90385999999998,
          223.60119724735324
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "APPROACHING IG REITs",
        "box": [
          529.3984,
          166.1984,
          642.8315800000006,
          174.6051087719298
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CURRENT DISCOUNT",
        "box": [
          221.8895,
          166.1984,
          320.2225999999998,
          174.6051087719298
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "DIVIDEND YIELD",
        "box": [
          65.8685,
          418.40984000000003,
          158.53370000000004,
          427.9334169778633
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.5%",
        "box": [
          300.33458,
          419.1656,
          323.08633999999995,
          428.6891769778633
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.0%",
        "box": [
          536.17682,
          419.1656,
          558.92858,
          428.6891769778633
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.0%",
        "box": [
          380.15186000000006,
          419.1656,
          402.90362,
          428.6891769778633
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.5%",
        "box": [
          457.5665000000001,
          419.1656,
          480.31826,
          428.6891769778633
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9.4%",
        "box": [
          217.2573800000001,
          419.1656,
          240.0091400000001,
          428.6891769778633
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.5%",
        "box": [
          615.24962,
          419.1656,
          638.00138,
          428.6891769778633
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 15,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "15",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Balance Sheet",
        "box": [
          133.3927,
          120.44640000000004,
          221.19669999999994,
          131.29481005025127
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Carrying Value  1",
        "box": [
          254.2687,
          118.39176000000003,
          355.9629,
          131.29481005025127
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2.8B",
        "box": [
          288.6702,
          165.30496,
          321.4559760000001,
          176.69336885466794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.9B",
        "box": [
          288.6702,
          221.82016,
          321.4559760000001,
          233.20856885466793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.1B",
        "box": [
          288.6702,
          275.81584,
          321.4559760000001,
          287.2042488546679
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cash & other assets",
        "box": [
          135.3502,
          316.10838,
          219.2768560000003,
          324.8117961403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.1B",
        "box": [
          288.9102,
          315.05104,
          321.21852,
          326.2327073684211
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total assets",
        "box": [
          151.5477,
          340.28837999999996,
          202.93477200000012,
          349.2040690856593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$5.9B",
        "box": [
          288.6702,
          339.24496,
          321.4559760000001,
          350.63336885466794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total liabilities     ",
        "box": [
          146.3902,
          374.02848,
          219.7853680000001,
          382.7318961403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($4.2B)",
        "box": [
          284.7102,
          372.97104,
          325.4234160000001,
          384.15270736842103
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book Equity Value",
        "box": [
          137.5077,
          399.58848,
          216.97909200000007,
          408.5041690856593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.7B",
        "box": [
          288.6702,
          398.54496,
          321.4559760000001,
          409.93336885466795
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Shares outstanding",
        "box": [
          136.4302,
          425.14848,
          218.19628000000029,
          433.85189614035085
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "126.9M",
        "box": [
          283.9927,
          424.30488,
          326.20774,
          435.10097263157894
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book Value per Share",
        "box": [
          128.5102,
          462.68086,
          226.03344399999986,
          471.9004930317613
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.44",
        "box": [
          285.1927,
          461.71328,
          325.0120360000002,
          473.29804073147255
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LOANS",
        "box": [
          159.7844,
          165.29967999999997,
          193.5764,
          174.2153690856593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SECURITIES",
        "box": [
          152.5794,
          222.25876,
          200.62147199999984,
          230.46524654475456
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "EQUITY",
        "box": [
          160.18044,
          278.06128,
          191.74905599999994,
          286.2677665447546
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fortress balance sheet at significant discount to book",
        "box": [
          134.5293,
          77.77305999999999,
          570.4314599999998,
          91.22508846231159
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LADDER VALUE PROPOSITION",
        "box": [
          10.0,
          17.193719999999985,
          521.8581279999997,
          42.506312275025266
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: As of 06/30/2026",
        "box": [
          27.6668,
          485.10578,
          103.86670399999991,
          491.56415684210526
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.  Loans shown at lower of cost or fair market value.  Securities shown at fair market value.  CRE equity, total assets, book equity value, and book value per share shown on an undepreciated basis.",
        "box": [
          27.6668,
          493.14578,
          660.8618359999994,
          499.6041568421053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.  Represents management and director ownership",
        "box": [
          27.664399999999887,
          501.06518,
          194.2250600000002,
          507.52415684210524
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.  Based on $9.75 LADR closing price on 07/22/2026 ",
        "box": [
          27.6644,
          509.10578,
          198.81670399999996,
          515.5641568421053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "IG capital structure",
        "box": [
          463.7103,
          371.51378,
          561.0836159999998,
          381.62590165543793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Stock at 27% discount to book",
        "box": [
          434.57778,
          461.40806,
          587.0235480000007,
          471.5201816554379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          586.9833,
          466.71578,
          587.87826,
          469.95558596727625
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3",
        "box": [
          588.0633,
          458.99642,
          591.83538,
          465.0833281809432
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The Case for Ladder",
        "box": [
          445.0222,
          118.92858000000001,
          572.9987440000003,
          129.9939582512563
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13% inside ownership ",
        "box": [
          456.1479,
          412.03278,
          567.91542,
          422.14490165543793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          567.9879,
          409.89390000000003,
          571.6383,
          415.7844563041386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net lease / IG tenant focus",
        "box": [
          443.7035,
          270.46528,
          578.2911519999999,
          280.5774016554379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "AAA securities",
        "box": [
          468.60604,
          214.87,
          542.000956,
          224.98212165543788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "First mortgage loans",
        "box": [
          461.79568,
          156.27124000000003,
          567.3290680000005,
          166.3833616554379
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Securitization gains",
        "box": [
          483.5762,
          174.95064000000002,
          569.6487319999999,
          183.72246526315791
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+",
        "box": [
          466.364,
          173.56584000000004,
          473.77423999999996,
          186.1288564388836
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+",
        "box": [
          465.6812,
          285.96344,
          473.09144,
          298.2273445614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+",
        "box": [
          465.6812,
          230.01794,
          473.09144,
          242.2818445614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Securities gains",
        "box": [
          480.2162,
          231.44704000000002,
          548.538272,
          240.2188652631579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NAV upside",
        "box": [
          482.13812,
          287.09536,
          532.826576,
          295.8671852631579
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 16,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "APPENDIX",
        "box": [
          259.4325,
          214.9794,
          458.44007999999985,
          243.76839979777554
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 17,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Note: As of 06/30/2026. Forward pipeline subject to change.",
        "box": [
          28.8,
          500.97472,
          212.50044,
          507.04752210526317
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Sources:  CBRE, Costar, Real Capital Analytics, Trepp and Wall Street research",
        "box": [
          28.79244,
          509.97112,
          264.6410040000006,
          516.0439221052632
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Robust Demand on Horizon",
        "box": [
          278.5898,
          150.26464000000004,
          463.16335999999967,
          161.76395465326635
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": ">$3 trillion coming due in next 5 years",
        "box": [
          263.909,
          416.30292,
          474.9548240000003,
          425.8495208442211
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "COMPELLING MARKET OPPORTUNITY",
        "box": [
          10.0,
          17.306220000000053,
          648.8440599999997,
          42.61881227502528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Attractive market backdrop for Ladder",
        "box": [
          207.85,
          89.17414000000002,
          515.4406960000001,
          102.84313666331661
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$797",
        "box": [
          271.1117,
          220.14677999999998,
          293.501144,
          228.50005573869345
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$677",
        "box": [
          313.4771,
          241.62054,
          335.86654400000003,
          249.97381573869347
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$628",
        "box": [
          357.11762,
          250.47246,
          381.003944,
          258.8257357386935
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$678",
        "box": [
          401.71909999999997,
          242.49833999999998,
          425.12494399999997,
          250.85161573869345
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$604",
        "box": [
          442.60609999999997,
          254.56577999999996,
          466.96273999999994,
          262.91905573869343
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2026",
        "box": [
          272.2517,
          382.83128,
          292.541216,
          391.2403958421559
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2027",
        "box": [
          315.61754,
          382.83128,
          335.907056,
          391.2403958421559
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2028",
        "box": [
          358.98338,
          382.83128,
          379.272896,
          391.2403958421559
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2029",
        "box": [
          402.34922,
          382.83128,
          422.638736,
          391.2403958421559
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2030",
        "box": [
          445.71506,
          382.83128,
          466.004576,
          391.2403958421559
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CRE DEBT MATURITIES",
        "box": [
          303.1111,
          184.63948,
          428.9620119999999,
          193.55516908565932
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "( $ B )",
        "box": [
          356.1511,
          196.78540000000004,
          375.7981,
          204.20308421052636
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Non-Banks Leading the Way",
        "box": [
          515.441,
          150.26464000000004,
          705.7398320000002,
          161.76395465326635
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CRE LENDING BY SOURCE",
        "box": [
          542.1016,
          184.63948,
          682.5020800000001,
          193.55516908565932
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "( Q 1   2 0 2 6 )",
        "box": [
          584.8168,
          197.23755999999997,
          639.8523520000003,
          205.94097614035087
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Non-Banks",
        "box": [
          537.0283,
          293.77874,
          579.5811759999998,
          301.78259724735324
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "53%",
        "box": [
          550.1107,
          305.42018,
          566.6220160000001,
          313.4240372473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Banks",
        "box": [
          642.33214,
          255.64070000000004,
          665.6785359999998,
          263.64455724735325
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "22%",
        "box": [
          645.68806,
          267.28214,
          662.1993760000001,
          275.28599724735324
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Insurance",
        "box": [
          654.4475799999999,
          314.56838000000005,
          692.7060159999996,
          322.57223724735326
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Companies ",
        "box": [
          651.8121399999999,
          326.20982000000004,
          697.4005119999995,
          334.21367724735325
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16%",
        "box": [
          665.2547799999999,
          337.85126,
          681.7660960000001,
          345.85511724735323
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other",
        "box": [
          635.1557799999998,
          354.9911,
          657.9684519999998,
          362.9949572473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9%",
        "box": [
          640.6731399999999,
          366.63254,
          652.383784,
          374.6363972473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Transaction Growth",
        "box": [
          50.7897,
          150.26464000000004,
          186.33020400000007,
          161.76395465326635
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "TOTAL CRE TRANSACTIONS",
        "box": [
          46.534,
          184.63948,
          196.38251199999993,
          193.55516908565932
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "( $ B )",
        "box": [
          111.574,
          196.78540000000004,
          131.221,
          204.20308421052636
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~$340",
        "box": [
          34.6613,
          283.51368,
          65.25863599999998,
          291.8669557386935
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~$380",
        "box": [
          81.7717,
          274.00437999999997,
          112.60650399999997,
          282.35765573869344
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~$460",
        "box": [
          127.04769999999999,
          256.57773999999995,
          157.885276,
          264.9310157386934
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~$530+",
        "box": [
          171.41818,
          240.14901999999995,
          208.02428799999998,
          248.50229573869342
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2023",
        "box": [
          42.0444,
          383.39368,
          62.33391600000001,
          391.8027958421559
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2024",
        "box": [
          88.209,
          383.39368,
          108.498516,
          391.8027958421559
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2025",
        "box": [
          134.3736,
          383.39368,
          154.66311600000003,
          391.8027958421559
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2026E",
        "box": [
          178.098,
          383.39368,
          203.23803600000002,
          391.8027958421559
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CRE activity picking up",
        "box": [
          55.6419,
          416.30292,
          184.81182000000007,
          425.8495208442211
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": ">50% market share for non-banks",
        "box": [
          518.2311,
          416.30292,
          704.7692759999998,
          425.8495208442211
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 18,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "KEY LOAN PORTFOLIO METRICS",
        "box": [
          479.7668,
          133.06254,
          677.0957359999996,
          142.58611697786336
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CRE LOAN PORTFOLIO",
        "box": [
          10.0,
          16.743720000000053,
          388.3603119999999,
          42.05631227502528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Middle-market loans provide enhanced liquidity and mitigate concentration risk",
        "box": [
          65.0425,
          83.53978000000001,
          654.8558800000002,
          96.23241975879398
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "L O A N   S I Z E",
        "box": [
          87.8126,
          129.35764,
          152.23155200000008,
          138.88121697786335
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GEOGRAPHY",
        "box": [
          81.6125,
          310.21914,
          157.55397200000004,
          319.7427169778633
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "P R O P E R T Y   T Y P E",
        "box": [
          275.65106000000003,
          310.21914,
          374.64772399999987,
          319.7427169778633
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2.8B",
        "box": [
          464.0706,
          178.51396,
          509.20164,
          191.9659884623116
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total loan portfolio",
        "box": [
          550.9207,
          180.26988,
          632.9349399999993,
          188.9732961403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$25-30M",
        "box": [
          464.0706,
          271.89225999999996,
          537.2891280000001,
          285.3442884623115
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Granular avg. loan size",
        "box": [
          550.9207,
          274.21518,
          647.0103639999999,
          282.91859614035087
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "W.A. LTV",
        "box": [
          550.9207,
          321.18606,
          589.6611160000001,
          329.8894761403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "W.A. extended maturity",
        "box": [
          550.9207,
          368.15694,
          653.5079319999991,
          376.8603561403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ORIGINATION YEAR",
        "box": [
          263.7325,
          131.46254,
          385.8948999999997,
          140.98611697786333
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~ 85%",
        "box": [
          464.0706,
          411.95966,
          507.03319199999993,
          425.41168846231153
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan portfolio originated since 2024",
        "box": [
          550.9207,
          415.13338,
          704.8337559999981,
          423.8367961403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "99%",
        "box": [
          464.0706,
          225.20315999999997,
          496.34532,
          238.65518846231157
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior secured first mortgage loans",
        "box": [
          550.9207,
          227.24248,
          702.0480279999982,
          235.9458961403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2026 YTD",
        "box": [
          268.7173,
          185.915144,
          298.2046256799999,
          192.2370714152047
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "37%",
        "box": [
          276.8507,
          195.34164399999997,
          290.0988624,
          201.66357141520467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2025",
        "box": [
          368.6819,
          201.06174399999998,
          384.21607999999986,
          207.38367141520467
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "45%",
        "box": [
          369.791,
          210.488244,
          383.03916239999995,
          216.8101714152047
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2024",
        "box": [
          343.094,
          278.255144,
          358.6281799999999,
          284.5770714152046
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3%",
        "box": [
          346.144,
          287.68154400000003,
          355.5105352,
          294.0034714152047
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "pre-2024",
        "box": [
          294.5791,
          253.410644,
          322.9602799999999,
          259.7325714152047
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "15%",
        "box": [
          302.1579,
          262.837044,
          315.40606239999994,
          269.1589714152047
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Below ",
        "box": [
          76.499,
          168.7901536,
          96.64408300000002,
          174.8666380865497
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$25M:",
        "box": [
          76.0324,
          177.8426536,
          95.55230348,
          183.9191380865497
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27%",
        "box": [
          79.392,
          186.89515360000001,
          92.12929548,
          192.97163808654972
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$25M -",
        "box": [
          161.454,
          193.10905359999998,
          184.3497552,
          199.18553808654968
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$50M:",
        "box": [
          163.1339,
          202.1615536,
          182.65380348,
          208.2380380865497
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "39%",
        "box": [
          166.4934,
          211.21415359999997,
          179.23069547999998,
          217.29063808654968
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$51M -",
        "box": [
          119.7547,
          252.80425359999998,
          142.6503552,
          258.8807380865497
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$75M:",
        "box": [
          121.4345,
          261.85685359999997,
          140.95440348,
          267.93333808654967
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17%",
        "box": [
          124.7941,
          270.9093536,
          137.53139548,
          276.9858380865497
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$76M -",
        "box": [
          85.4489,
          247.4395536,
          108.34465519999999,
          253.5160380865497
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$100M:",
        "box": [
          85.2623,
          256.4921536,
          108.51558684,
          262.5686380865497
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6%",
        "box": [
          92.3547,
          265.5446536,
          101.35861211999999,
          271.6211380865497
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Above ",
        "box": [
          66.3044,
          226.07215359999998,
          87.10341488000002,
          232.14863808654968
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$100M:",
        "box": [
          64.2514,
          235.1246536,
          87.50468684,
          241.2011380865497
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11% ",
        "box": [
          69.4774,
          244.17725359999997,
          83.835149,
          250.25373808654967
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "South",
        "box": [
          143.0449,
          344.22477360000005,
          159.9814756000001,
          350.10757410994154
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "25%",
        "box": [
          145.3938,
          352.98887360000003,
          157.72474044,
          358.8716741099415
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Northeast",
        "box": [
          65.4767,
          368.1852736,
          94.6999654,
          374.06807410994156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "36%",
        "box": [
          73.8788,
          376.9493736,
          86.20974044000002,
          382.83217410994155
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Southwest",
        "box": [
          154.8044,
          406.75287360000004,
          185.5635908400001,
          412.63567410994153
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "15%",
        "box": [
          164.0196,
          415.5168736,
          176.35054044,
          421.39967410994154
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Midwest",
        "box": [
          122.8652,
          434.3221736,
          148.20511487999994,
          440.20497410994153
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13%",
        "box": [
          129.3701,
          443.0862736,
          141.70104044,
          448.9690741099415
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "West",
        "box": [
          91.38,
          430.9891736,
          106.42093528000001,
          436.87197410994156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10%",
        "box": [
          92.7351,
          439.7532736,
          105.06604044000002,
          445.63607410994155
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Various",
        "box": [
          51.2051,
          433.2566736,
          73.23906384,
          439.13947410994155
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1%",
        "box": [
          57.8906,
          442.0207736,
          66.60726236,
          447.90357410994153
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Hotel",
        "box": [
          369.6437,
          443.2361504,
          384.72337552,
          448.87589812397664
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2%",
        "box": [
          373.0219,
          451.6381504,
          381.3795001600001,
          457.2778981239766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Retail",
        "box": [
          381.6199,
          428.6948504,
          397.39210735999995,
          434.3345981239766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4%",
        "box": [
          385.3447,
          437.0967504,
          393.70230016000005,
          442.7364981239766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Office",
        "box": [
          351.5771,
          349.5570504,
          368.06852768,
          355.1967981239766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "21%",
        "box": [
          353.9159,
          357.9589504,
          365.7388966400001,
          363.59869812397665
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          262.4855,
          381.2934504,
          294.4275046400001,
          386.9331981239766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "58%",
        "box": [
          272.5338,
          389.6953504,
          284.3567966400001,
          395.33509812397665
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Industrial",
        "box": [
          364.3441,
          386.9880504,
          390.7718540799999,
          392.6277981239766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8%",
        "box": [
          373.3527,
          395.3900504,
          381.7103001600001,
          401.0297981239766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mixed ",
        "box": [
          391.1489,
          404.0180504,
          410.10798559999995,
          409.6577981239766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Use",
        "box": [
          394.6138,
          412.4199504,
          405.12221792,
          418.0596981239766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5%",
        "box": [
          395.6533,
          420.8218504,
          404.01090016000006,
          426.4615981239766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other",
        "box": [
          353.2333,
          452.3265504,
          369.39556975999983,
          457.9662981239766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2%",
        "box": [
          358.6906,
          460.7284504,
          367.0482001600001,
          466.36819812397664
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.  5-year",
        "box": [
          464.0706,
          365.27056000000005,
          528.764664,
          378.7225884623116
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "68% ",
        "box": [
          464.07684,
          318.57712000000004,
          498.23268,
          332.0291484623116
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          498.2706,
          316.02884,
          502.4454,
          323.7312111356784
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: As of 06/30/2026. Amounts in charts before $47.1M CECL allowance. Other CRE-related loans include mezzanine and subordinate loans.",
        "box": [
          28.65,
          499.85178,
          487.43893199999974,
          506.31015684210524
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.  For a description of this financial measure, see Selected Definitions on page 34",
        "box": [
          28.650000000000034,
          509.45154,
          291.1246560000004,
          515.9101568421053
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 19,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "CRE SECURITIES PORTFOLIO",
        "box": [
          10.0,
          16.743720000000053,
          499.94587599999977,
          42.05631227502528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Highly-rated, short-duration, granular portfolio",
        "box": [
          175.5074,
          94.08815999999996,
          554.9369840000004,
          107.54018846231156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.9B",
        "box": [
          279.8542,
          195.53181999999998,
          318.58833999999996,
          207.79052335678392
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total securities portfolio assets",
        "box": [
          342.5357,
          197.57596,
          465.9845600000001,
          205.5870589473684
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "99%",
        "box": [
          279.8542,
          233.01241999999996,
          309.29295999999994,
          245.2711233567839
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investment grade-rated",
        "box": [
          342.5357,
          234.99846000000002,
          436.56212000000005,
          243.00955894736842
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.0 yr",
        "box": [
          279.8542,
          270.49312,
          321.8942679999999,
          282.7518233567839
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "W.A. duration",
        "box": [
          342.5357,
          272.57246000000004,
          398.16714799999994,
          280.58355894736843
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$14M",
        "box": [
          279.8542,
          345.45422,
          317.86287999999996,
          357.7129233567839
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Avg. investment per CUSIP",
        "box": [
          342.5357,
          347.87176,
          447.75956000000076,
          355.8828589473684
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.2%",
        "box": [
          279.8542,
          307.97372,
          312.88635999999997,
          320.2324233567839
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "W.A. yield (unlevered)",
        "box": [
          342.5357,
          310.29786,
          431.0392160000004,
          318.3089589473684
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: As of 06/30/2026",
        "box": [
          28.8,
          510.15358,
          104.99909999999997,
          516.6119568421053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "19",
        "box": [
          355.93152,
          522.5593,
          364.08809999999994,
          529.1857645614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "99%",
        "box": [
          90.1963,
          255.27958,
          134.96445999999997,
          273.9388452864322
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "IG-rated",
        "box": [
          94.0363,
          281.56582000000003,
          131.26318,
          290.6648459649123
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+",
        "box": [
          526.224,
          342.56168,
          535.96488,
          358.6827803508772
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I N V E S T M E N T   S T R A T E G Y",
        "box": [
          533.3047,
          163.26324,
          682.3213959999999,
          172.78681697786334
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "KEY PORTFOLIO METRICS",
        "box": [
          294.7891000000001,
          162.99252,
          453.0001239999998,
          172.51609697786336
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "C R E D I T   R A T I N G   S U M M A R Y",
        "box": [
          42.86158000000009,
          163.86108000000002,
          209.41642000000016,
          173.38465697786336
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Complementary",
        "box": [
          520.5098,
          196.35726,
          600.652772,
          204.92750393969845
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " to lending business",
        "box": [
          600.67268,
          196.35726,
          683.9554280000003,
          204.9664501229508
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Top-of-capital stack",
        "box": [
          520.5098,
          234.27726,
          619.4847920000001,
          242.84750393969847
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " positions",
        "box": [
          619.51892,
          234.27726,
          660.0942679999998,
          242.8864501229508
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Highly liquid",
        "box": [
          520.51928,
          272.3205,
          586.4432000000002,
          280.89074393969844
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " - can finance or sell",
        "box": [
          586.3958,
          272.3205,
          674.3152159999994,
          280.9296901229508
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "'Holding ground' ",
        "box": [
          520.5192800000001,
          310.36374,
          611.04322,
          318.93398393969846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "for rotation into loans",
        "box": [
          612.4297,
          310.35726,
          706.6599519999997,
          318.96645012295085
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Track record of ",
        "box": [
          551.5643,
          345.809,
          620.9530999999997,
          354.52716721311475
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "gains on sale",
        "box": [
          620.9243,
          345.809,
          686.3818999999997,
          354.487728040201
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "AAA / Aaa",
        "box": [
          37.5163,
          264.74506160000004,
          72.38439004,
          271.7124923789474
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "96% ",
        "box": [
          47.6827,
          275.12486160000003,
          64.14705975,
          282.0922923789474
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "AA / Aa",
        "box": [
          190.2681,
          255.61426160000002,
          216.14694551000008,
          262.58169237894737
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1% ",
        "box": [
          198.0801,
          265.9940616,
          210.26499433,
          272.96149237894736
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "A / A",
        "box": [
          191.0358,
          276.76616160000003,
          207.91441065000004,
          283.7335923789474
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.3% ",
        "box": [
          191.1428,
          287.14596159999996,
          209.74773787,
          294.11339237894737
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "BBB / Baa / other",
        "box": [
          185.8645,
          299.09316160000003,
          245.52592910999994,
          306.0605923789474
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3% ",
        "box": [
          210.5849,
          309.47296159999996,
          222.76979433000002,
          316.44039237894737
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 20,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "CRE EQUITY PORTFOLIO",
        "box": [
          10.0,
          16.743720000000053,
          424.11835599999984,
          42.05631227502528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Durable, recurring net rental income with potential NAV upside",
        "box": [
          104.5795,
          95.53125999999997,
          600.7531000000001,
          108.98328846231158
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "T O T A L   P O R T F O L I O   K E Y   M E T R I C S",
        "box": [
          489.5138,
          158.13164,
          692.718488,
          167.65521697786335
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.1B",
        "box": [
          484.1138,
          181.65778,
          517.1618,
          192.72315825125628
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Gross asset value",
        "box": [
          574.1138,
          182.79884000000004,
          640.7382920000007,
          190.61213403508776
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$670M",
        "box": [
          484.1138,
          207.09778,
          528.06764,
          218.16315825125628
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net equity invested",
        "box": [
          574.1138,
          208.23884000000004,
          649.3044200000003,
          216.05213403508776
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~6.0M",
        "box": [
          484.1138,
          232.53778,
          525.9134,
          243.60315825125627
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Square Feet",
        "box": [
          574.1138,
          233.67884000000004,
          620.0254400000001,
          241.49213403508776
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$69M",
        "box": [
          485.5538,
          258.57788,
          521.836832,
          269.64325825125627
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "In-place annual NOI",
        "box": [
          574.1138,
          259.71874,
          649.8286639999998,
          267.53203403508775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "P R O P E R T Y   T Y P E",
        "box": [
          293.4445,
          159.66634,
          392.44116399999984,
          169.18991697786333
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: As of 06/30/2026. All asset amounts represent undepreciated asset values.",
        "box": [
          28.8,
          509.66628000000003,
          290.2069320000004,
          516.1246568421053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20",
        "box": [
          355.93152,
          522.56244,
          364.08809999999994,
          529.1889045614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I N V E S T M E N T   T Y P E",
        "box": [
          60.6461,
          160.53994,
          176.17924400000004,
          170.06351697786334
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net lease portfolio focused ",
        "box": [
          50.4963,
          370.34154,
          187.736868,
          379.1287521407035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "on necessity-based tenants ",
        "box": [
          49.417379999999994,
          383.42466,
          188.6767919999998,
          392.2118721407035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(grocery / drug / dollar stores)",
        "box": [
          41.981579999999994,
          396.38142,
          193.68482399999985,
          405.1688521407035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diversified property types with ",
        "box": [
          261.81522,
          378.50656000000004,
          424.7136720000009,
          387.29377214070354
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "granular ~$5M avg. asset size",
        "box": [
          265.65462,
          391.58968000000004,
          418.2829200000005,
          400.37689214070355
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "149",
        "box": [
          484.1138,
          322.09938,
          505.964648,
          333.16475825125633
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Properties",
        "box": [
          574.1138,
          323.24034,
          614.18102,
          331.0536340350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.2 years",
        "box": [
          484.1138,
          347.53928,
          542.6467040000002,
          358.6046582512563
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "W.A. remaining lease term",
        "box": [
          574.1138,
          348.68034,
          676.7433320000005,
          356.49363403508767
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100%",
        "box": [
          484.1138,
          374.17938000000004,
          518.1556879999999,
          385.24475825125626
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Leased",
        "box": [
          574.1138,
          375.32024,
          600.696668,
          383.1335340350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~61%",
        "box": [
          484.1138,
          399.01928,
          517.4323039999998,
          410.0846582512563
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "IG tenants",
        "box": [
          574.1138,
          400.16024,
          613.8160400000002,
          407.9735340350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NET LEASE PORTFOLIO KEY METRICS",
        "box": [
          477.4187,
          298.06024,
          707.1595879999998,
          307.5838169778633
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net Lease",
        "box": [
          43.3004,
          254.73771039999997,
          77.28610424000001,
          261.7538506385965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$597M ",
        "box": [
          47.9338,
          265.19021039999996,
          74.42586246,
          272.20635063859646
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(56%)",
        "box": [
          50.3044,
          275.6427104,
          70.12428658000002,
          282.6588506385965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diversified ",
        "box": [
          154.1326,
          240.51131039999996,
          192.90834425999995,
          247.52745063859646
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CRE/ ",
        "box": [
          163.8305,
          250.9638104,
          183.20708679999998,
          257.9799506385965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other",
        "box": [
          162.5375,
          261.4163104,
          182.64255867999995,
          268.4324506385965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$461M ",
        "box": [
          159.3048,
          271.7610104,
          185.79686246,
          278.7771506385965
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(44%)",
        "box": [
          160.7057,
          282.2135104,
          180.52558658000004,
          289.22965063859647
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.1B",
        "box": [
          95.8352,
          252.79832000000005,
          139.03892,
          267.2267053668342
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CRE Equity",
        "box": [
          97.9952,
          272.2106,
          136.87159999999997,
          279.6282842105263
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investments",
        "box": [
          94.9982,
          284.2076,
          139.7993,
          291.62528421052633
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily",
        "box": [
          280.4786,
          225.42539499999998,
          315.81674206999986,
          233.00053461798842
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "25%",
        "box": [
          290.5046,
          234.30249499999996,
          305.89093249999996,
          241.8776346179884
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dollar Store",
        "box": [
          341.9698,
          213.10849499999995,
          380.6388049900001,
          220.6836346179884
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13%",
        "box": [
          353.6669,
          221.985595,
          369.0532325,
          229.56073461798843
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Drug ",
        "box": [
          382.5475,
          235.861695,
          400.8457422700001,
          243.43683461798844
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Store",
        "box": [
          381.8165,
          244.73879499999998,
          399.1826642000001,
          252.31393461798842
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10%",
        "box": [
          382.8608,
          253.720395,
          398.24713249999996,
          261.29553461798844
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Grocery ",
        "box": [
          415.7542,
          266.57629499999996,
          443.45330605,
          274.1514346179884
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Store",
        "box": [
          419.7228,
          275.453395,
          437.0889642000001,
          283.02853461798844
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6%",
        "box": [
          422.7516,
          284.434995,
          434.0670426,
          292.0101346179884
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Wholesale ",
        "box": [
          410.3246,
          298.001895,
          445.85553466999977,
          305.5770346179884
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Club",
        "box": [
          419.7241,
          306.87899500000003,
          434.16426573999996,
          314.4541346179884
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5%",
        "box": [
          421.2906,
          315.860595,
          432.60604259999997,
          323.4357346179884
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other ",
        "box": [
          375.476,
          303.746795,
          396.2812875800001,
          311.3219346179884
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Retail",
        "box": [
          375.6849,
          312.623795,
          393.8830384199999,
          320.19893461798836
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6%",
        "box": [
          379.1314,
          321.60539500000004,
          390.44684259999997,
          329.1805346179884
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Office",
        "box": [
          315.16,
          321.196995,
          334.20420133000005,
          328.7721346179884
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "28%",
        "box": [
          317.0399,
          330.074095,
          332.42623249999997,
          337.6492346179884
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Hotel",
        "box": [
          273.8758,
          278.783295,
          291.02989233999995,
          286.3584346179884
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7%",
        "box": [
          276.8,
          287.660395,
          288.1154426,
          295.2355346179884
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 21,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "EMBEDDED VALUE IN CRE EQUITY",
        "box": [
          10.0,
          16.743720000000053,
          595.9157799999999,
          42.05631227502528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "History of realized gains selling above undepreciated carrying value",
        "box": [
          97.8,
          98.17764,
          617.2863959999996,
          111.304216160804
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "EMBEDDED DEPRECIATION IN BOOK EQUITY  1",
        "box": [
          70.4733,
          149.90035999999998,
          337.33614,
          160.84281697786332
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CRE EQUITY ASSET SALES",
        "box": [
          458.8544,
          154.05194,
          613.7175199999996,
          163.57551697786334
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: As of 06/30/2026.",
        "box": [
          28.8,
          500.76138000000003,
          106.91261999999996,
          507.21975684210526
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.  Dollars in millions, except book values per share. Book equity values exclude ($2.6) million of noncontrolling interest.",
        "box": [
          28.799999999999997,
          509.75814,
          413.74476,
          516.2196568421052
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "21",
        "box": [
          355.92912,
          522.56096,
          364.0857,
          529.1874245614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(since 2020, ",
        "box": [
          490.9118,
          167.30579999999998,
          536.5201999999999,
          174.53532631578946
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "excl. REO",
        "box": [
          536.1548,
          167.3148,
          570.4853000000003,
          174.67799538017323
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": ")",
        "box": [
          570.4719,
          167.30579999999998,
          573.1989,
          174.53532631578946
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "+",
        "box": [
          404.8134,
          152.42692,
          415.68972,
          170.42716701754387
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "24",
        "box": [
          400.3775,
          187.96251999999998,
          417.69362,
          200.22122335678392
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Asset sales",
        "box": [
          463.2643,
          190.00666,
          506.42401600000005,
          198.0177589473684
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$76M",
        "box": [
          400.3775,
          214.23442,
          439.465556,
          226.49312335678394
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Aggregate gain vs. undepreciated carrying value",
        "box": [
          463.2643,
          216.23196000000002,
          653.5352439999988,
          224.2430589473684
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14%",
        "box": [
          400.3775,
          240.50651999999997,
          427.66022,
          252.7652233567839
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "% gain on undepreciated carrying value",
        "box": [
          463.2643,
          242.60906,
          619.5725919999992,
          250.6201589473684
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "REO ASSET SALES",
        "box": [
          480.4046,
          307.22123999999997,
          586.6689679999995,
          316.74481697786337
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(since 2020)",
        "box": [
          511.2193,
          321.80830000000003,
          555.2409999999999,
          329.0378263157895
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10",
        "box": [
          400.3775,
          339.44302000000005,
          416.48678,
          351.70172335678393
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Asset sales (resolutions)",
        "box": [
          463.2643,
          341.48716,
          558.9703359999993,
          349.4982589473684
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4M",
        "box": [
          400.3775,
          365.71482000000003,
          431.78517199999993,
          377.9735233567839
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Aggregate gain vs. undepreciated carrying value",
        "box": [
          463.2643,
          367.71236,
          653.5352439999988,
          375.7234589473684
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2%",
        "box": [
          400.3775,
          391.98702000000003,
          420.81242000000003,
          404.2457233567839
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "% gain on undepreciated carrying value",
        "box": [
          463.2643,
          394.08946,
          619.5725919999992,
          402.1005589473684
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Aggregate gain on REO sales validates lending bases",
        "box": [
          392.283,
          423.42096000000004,
          670.5162000000006,
          432.5336244422111
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,705M  (total)",
        "box": [
          205.1075,
          305.89656,
          278.86324799999994,
          314.4668039396985
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.44  (per share)",
        "box": [
          205.1075,
          320.29656,
          290.9905639999999,
          328.86680393969846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accumulated ",
        "box": [
          110.8203,
          189.0639,
          157.71834000000007,
          195.9870719298246
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Depreciation & ",
        "box": [
          107.7039,
          198.06029999999998,
          160.7230200000001,
          204.9834719298246
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Amortization:",
        "box": [
          109.8627,
          207.05669999999998,
          156.75150000000002,
          213.97987192982458
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$276M",
        "box": [
          120.5403,
          217.75638000000004,
          145.96182,
          225.15234935514923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP",
        "box": [
          123.9378,
          294.87126,
          144.973992,
          302.38784666666663
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book ",
        "box": [
          125.14164,
          305.78790000000004,
          145.91791199999997,
          313.30448666666666
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Equity:",
        "box": [
          121.6578,
          316.70454,
          147.259464,
          324.2211266666667
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,429M",
        "box": [
          116.6178,
          329.89206,
          152.2241040000001,
          338.0985465447546
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Undepreciated Book Value",
        "box": [
          205.1075,
          289.84446,
          318.5394920000003,
          298.4536501229508
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          318.5075,
          294.66774,
          319.11482,
          296.9562588934426
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": ":",
        "box": [
          319.3475,
          289.84446,
          322.98782,
          298.4536501229508
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Consistent gains above undepreciated carrying value",
        "box": [
          385.7141,
          270.54756000000003,
          667.225316,
          279.6602244422111
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 22,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "1",
        "box": [
          357.9066,
          274.4208,
          367.0326,
          289.2561684210526
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note:  As of 06/30/2026.  Dollars in millions.",
        "box": [
          29.026,
          500.9782,
          165.74698000000006,
          507.2437894736842
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.  Excludes impact of $25.6 million below-market lease liability",
        "box": [
          29.0278,
          509.9782,
          226.55260000000007,
          516.2449894736842
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          276.5623,
          158.96416000000005,
          279.36093999999997,
          163.624633840231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          276.8383,
          262.65184000000005,
          279.63694,
          267.20135298245617
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NET LEASE PORTFOLIO KEY METRICS",
        "box": [
          10.0,
          16.943719999999985,
          645.7768480000002,
          42.256312275025266
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "22",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Bank of America",
        "box": [
          238.7529,
          120.3425312,
          293.84529119999985,
          127.17147623792113
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dollar",
        "box": [
          315.085,
          120.3425312,
          335.32485354999983,
          127.17147623792113
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Walgreens",
        "box": [
          366.269028,
          120.3425312,
          401.9870351500001,
          127.17147623792113
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "BJ's Wholesale",
        "box": [
          418.29426,
          120.3425312,
          467.8039684999998,
          127.17147623792113
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Hy-Vee Inc.",
        "box": [
          482.872844,
          120.3425312,
          521.0570348,
          127.17147623792113
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Additional Net",
        "box": [
          537.551104,
          120.3425312,
          586.55042815,
          127.17147623792113
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Net Leased",
        "box": [
          598.764872,
          120.3425312,
          654.7817787500004,
          127.17147623792113
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          654.7559,
          124.2812184,
          655.1754463999999,
          125.84847158652553
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "/",
        "box": [
          655.1979,
          120.3425312,
          658.675955,
          127.17147623792113
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Office Campus",
        "box": [
          241.9795,
          130.90603119999997,
          290.5970469499998,
          137.7349762379211
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "General Corp",
        "box": [
          303.1512,
          130.90613119999995,
          347.27477635000014,
          137.73507623792108
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Co",
        "box": [
          379.8382685,
          130.90613119999995,
          388.4767865,
          137.73507623792108
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Club Inc.",
        "box": [
          428.63618900000006,
          130.90613119999995,
          457.4506614000001,
          137.73507623792108
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Supermarkets",
        "box": [
          478.5341455,
          130.90613119999995,
          525.3900171500002,
          137.73507623792108
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Leased Properties",
        "box": [
          532.1915,
          130.90603119999997,
          591.9056601000003,
          137.7349762379211
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Weighted-Avg.",
        "box": [
          603.7058,
          130.90603119999997,
          653.6894945999998,
          137.7349762379211
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1 Property)",
        "box": [
          246.0458,
          141.6824428,
          285.08898949999997,
          148.17969842807014
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(102 Properties)",
        "box": [
          298.2451,
          141.68254280000002,
          350.7224791499997,
          148.17979842807017
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(21 Properties)",
        "box": [
          359.20003599999995,
          141.68254280000002,
          407.5708836999996,
          148.17979842807017
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(4 Properties)",
        "box": [
          420.19541449999997,
          141.68254280000002,
          464.4548776499997,
          148.17979842807017
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(6 Properties)",
        "box": [
          479.11204849999996,
          141.68254280000002,
          523.3723204999998,
          148.17979842807017
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(15 Properties)",
        "box": [
          537.0985049999999,
          141.68254280000002,
          585.4693527000001,
          148.17979842807017
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(149 Properties)",
        "box": [
          601.7175315,
          141.68254280000002,
          654.19491065,
          148.17979842807017
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Undepreciated Asset Value",
        "box": [
          68.0555,
          160.53302159999998,
          165.44482843999987,
          167.69782469836383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$158.9",
        "box": [
          253.9574,
          160.53302159999998,
          277.65596211999997,
          167.69782469836383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$130.0",
        "box": [
          312.8770866,
          160.53302159999998,
          336.57564871999995,
          167.69782469836383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$119.0",
        "box": [
          371.79677319999996,
          160.53302159999998,
          395.4953353199999,
          167.69782469836383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$73.0",
        "box": [
          435.0019908,
          160.53302159999998,
          454.41502191999996,
          167.69782469836383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$57.0",
        "box": [
          493.92167739999996,
          160.53302159999998,
          513.33555714,
          167.69782469836383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$59.0",
        "box": [
          555.1411241999999,
          160.53302159999998,
          574.5550039399999,
          167.69782469836383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$596.9",
        "box": [
          618.4312037999999,
          160.53302159999998,
          642.1297659199998,
          167.69782469836383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Asset Carrying Value (Depreciated)",
        "box": [
          68.06718899999998,
          187.493679,
          189.93580995999994,
          194.4878958608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$112.6",
        "box": [
          254.1016654,
          187.493679,
          277.66784279999996,
          194.4878958608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$96.1",
        "box": [
          317.306883,
          187.493679,
          336.5875294,
          194.4878958608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$78.2",
        "box": [
          376.2265696,
          187.493679,
          395.50721599999997,
          194.4878958608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$33.7",
        "box": [
          435.1462562,
          187.493679,
          454.42690259999995,
          194.4878958608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$35.6",
        "box": [
          494.06594279999996,
          187.493679,
          513.3465891999999,
          194.4878958608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$37.3",
        "box": [
          555.2853895999999,
          187.493679,
          574.5660359999999,
          194.4878958608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$393.4",
        "box": [
          618.5754691999999,
          187.493679,
          642.1416466,
          194.4878958608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Non-Recourse Mortgage Debt Financing",
        "box": [
          68.07567519999986,
          214.4543364,
          207.8985495000001,
          221.4485532608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$82.4",
        "box": [
          258.3956825999999,
          214.4543364,
          277.67632899999984,
          221.4485532608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$61.4",
        "box": [
          317.31536919999985,
          214.4543364,
          336.5960155999998,
          221.4485532608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$64.2",
        "box": [
          376.2350557999998,
          214.4543364,
          395.5157021999998,
          221.4485532608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$55.4",
        "box": [
          435.1547423999998,
          214.4543364,
          454.43538879999977,
          221.4485532608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$8.1",
        "box": [
          498.35995999999983,
          214.4543364,
          513.3550753999998,
          221.4485532608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$9.0",
        "box": [
          559.5794067999998,
          214.4543364,
          574.5745221999998,
          221.4485532608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$280.5",
        "box": [
          618.5839553999998,
          214.4543364,
          642.1501327999998,
          221.4485532608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Weighted-Average Interest Rate on Debt",
        "box": [
          68.08416139999974,
          241.4065076,
          209.9666364399996,
          248.22330829122808
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.0%",
        "box": [
          262.20598639999974,
          241.4065076,
          278.96623139999974,
          248.22330829122808
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.2%",
        "box": [
          321.1256729999997,
          241.4065076,
          337.8859179999997,
          248.22330829122808
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4.9%",
        "box": [
          380.0453595999997,
          241.4065076,
          396.8056045999997,
          248.22330829122808
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.8%",
        "box": [
          438.9650461999997,
          241.4065076,
          455.7252911999997,
          248.22330829122808
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.8%",
        "box": [
          497.88473279999965,
          241.4065076,
          514.6449777999997,
          248.22330829122808
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.4%",
        "box": [
          559.1041795999996,
          241.4065076,
          575.8644245999997,
          248.22330829122808
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.4%",
        "box": [
          626.6882763999996,
          241.4065076,
          643.4485213999997,
          248.22330829122808
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Net Equity Invested",
        "box": [
          68.10113379999962,
          268.3756512,
          137.56577251999946,
          275.3698680608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$76.6",
        "box": [
          258.4211411999996,
          268.3756512,
          277.7017875999996,
          275.3698680608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$68.6",
        "box": [
          317.3408277999996,
          268.3756512,
          336.62147419999957,
          275.3698680608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$54.8",
        "box": [
          376.2605143999996,
          268.3756512,
          395.54116079999955,
          275.3698680608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$17.6",
        "box": [
          435.18020099999956,
          268.3756512,
          454.4608473999995,
          275.3698680608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$48.9",
        "box": [
          494.09988759999953,
          268.3756512,
          513.3805339999996,
          275.3698680608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$50.0",
        "box": [
          555.3193343999995,
          268.3756512,
          574.5999807999996,
          275.3698680608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$316.4",
        "box": [
          618.6094139999996,
          268.3756512,
          642.1755913999996,
          275.3698680608187
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " In-Place Annual Net Operating Income (NOI)",
        "box": [
          68.1096199999995,
          295.3363086,
          225.75351429999986,
          302.50111169836384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$8.1",
        "box": [
          262.5878653999995,
          295.3363086,
          277.71536551999947,
          302.50111169836384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$8.9",
        "box": [
          321.50755199999946,
          295.3363086,
          336.63505211999944,
          302.50111169836384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$7.9",
        "box": [
          380.42723859999944,
          295.3363086,
          395.5547387199994,
          302.50111169836384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$6.1",
        "box": [
          439.3469251999994,
          295.3363086,
          454.4744253199994,
          302.50111169836384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$3.3",
        "box": [
          498.2666117999994,
          295.3363086,
          513.3941119199994,
          302.50111169836384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$3.8",
        "box": [
          559.4860585999994,
          295.3363086,
          574.6135587199993,
          302.50111169836384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$38.2",
        "box": [
          622.7761381999994,
          295.3363086,
          642.1900179399994,
          302.50111169836384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Weighted-Avg. Remaining Lease Term (years)",
        "box": [
          68.12659239999948,
          322.296966,
          229.8913854199997,
          329.4617690983638
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.3",
        "box": [
          266.89036879999946,
          322.296966,
          277.73233791999945,
          329.4617690983638
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.4",
        "box": [
          325.81005539999944,
          322.296966,
          336.65202451999943,
          329.4617690983638
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.2",
        "box": [
          384.7297419999994,
          322.296966,
          395.5717111199994,
          329.4617690983638
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.3",
        "box": [
          443.6494285999994,
          322.296966,
          454.4913977199994,
          329.4617690983638
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.3",
        "box": [
          502.5691151999994,
          322.296966,
          513.4110843199994,
          329.4617690983638
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.7",
        "box": [
          563.7885619999994,
          322.296966,
          574.6305311199993,
          329.4617690983638
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.2",
        "box": [
          631.3726587999994,
          322.296966,
          642.2146279199993,
          329.4617690983638
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ~ Total Square Feet",
        "box": [
          68.0555,
          349.2619216,
          136.00026354,
          356.25613846081876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "822,540",
        "box": [
          252.36558380000002,
          349.2619216,
          280.2172922,
          356.25613846081876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "929,285",
        "box": [
          311.2852704,
          349.2619216,
          339.13697879999995,
          356.25613846081876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "307,664",
        "box": [
          370.204957,
          349.2619216,
          398.05666539999993,
          356.25613846081876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "456,176",
        "box": [
          429.12464359999996,
          349.2619216,
          456.9763519999999,
          356.25613846081876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "421,890",
        "box": [
          488.04433019999993,
          349.2619216,
          515.8960385999999,
          356.25613846081876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "499,814",
        "box": [
          548.1096537999999,
          349.2619216,
          575.9613621999998,
          356.25613846081876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,437,369",
        "box": [
          611.5779435999999,
          349.2619216,
          645.8367329999998,
          356.25613846081876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Weighted-Average % Leased",
        "box": [
          68.0555,
          376.2232216,
          170.52042466000015,
          383.16606033724736
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100%",
        "box": [
          259.7917,
          376.2232216,
          278.8347328,
          383.16606033724736
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100%",
        "box": [
          318.71138659999997,
          376.2232216,
          337.75441939999996,
          383.16606033724736
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100%",
        "box": [
          377.63107319999995,
          376.2232216,
          396.67410599999994,
          383.16606033724736
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100%",
        "box": [
          436.5507597999999,
          376.2232216,
          455.5937925999999,
          383.16606033724736
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100%",
        "box": [
          495.4704463999999,
          376.2232216,
          514.5134791999999,
          383.16606033724736
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100%",
        "box": [
          556.6898931999999,
          376.2232216,
          575.7329259999999,
          383.16606033724736
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100%",
        "box": [
          624.2739899999999,
          376.2232216,
          643.3170227999999,
          383.16606033724736
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  % of Total CRE Equity Portfolio ",
        "box": [
          68.0555,
          399.3306354,
          178.40749893999973,
          406.1474360912281
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " (by Undepreciated Asset Value)",
        "box": [
          68.0556,
          410.42453539999997,
          177.7541615399999,
          417.24133609122805
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "15%",
        "box": [
          264.3,
          404.8997354,
          278.938695,
          411.7165360912281
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12%",
        "box": [
          323.2176,
          404.8997354,
          337.856295,
          411.7165360912281
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11%",
        "box": [
          382.1372866,
          404.8997354,
          396.77598159999997,
          411.7165360912281
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7%",
        "box": [
          445.3425042,
          404.8997354,
          455.6956682,
          411.7165360912281
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5%",
        "box": [
          504.2621908,
          404.8997354,
          514.6153548,
          411.7165360912281
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6%",
        "box": [
          565.4816376,
          404.8997354,
          575.8348016,
          411.7165360912281
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "56%",
        "box": [
          628.7717172,
          404.8997354,
          643.4104122,
          411.7165360912281
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " % of Net Leased CRE Portfolio",
        "box": [
          68.0555,
          429.6952354,
          171.5582869199998,
          436.5120360912281
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " (by Undepreciated Asset Value)",
        "box": [
          68.0555,
          440.78913539999996,
          177.75406153999987,
          447.60593609122805
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27%",
        "box": [
          264.3,
          435.2643354,
          278.938695,
          442.0811360912281
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "22%",
        "box": [
          323.2176,
          435.26423539999996,
          337.856295,
          442.08103609122804
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20%",
        "box": [
          382.1372866,
          435.26423539999996,
          396.77598159999997,
          442.08103609122804
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12%",
        "box": [
          441.05697319999996,
          435.26423539999996,
          455.69566819999994,
          442.08103609122804
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10%",
        "box": [
          499.97665979999994,
          435.26423539999996,
          514.6153547999999,
          442.08103609122804
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10%",
        "box": [
          561.1961065999999,
          435.26423539999996,
          575.8348015999999,
          442.08103609122804
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100%",
        "box": [
          624.4861861999999,
          435.26423539999996,
          643.4104121999999,
          442.08103609122804
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          278.5501,
          159.48557999999997,
          281.16622,
          163.84210989412895
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          278.5501,
          265.80222,
          281.16622,
          270.05502561403506
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 23,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "INVESTMENT GRADE CAPITAL STRUCTURE",
        "box": [
          10.48,
          17.10292000000004,
          705.225796,
          41.32913492416583
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Modest leverage with focus on unsecured capital",
        "box": [
          170.3108,
          75.99284,
          537.9659119999998,
          89.11941616080401
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CAPITAL STRUCTURE HIGHLIGHTS",
        "box": [
          441.4296,
          121.20600000000002,
          662.2644000000005,
          131.33746487006738
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.3x",
        "box": [
          395.4,
          156.50845999999996,
          427.59883200000013,
          169.96048846231156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Adjusted leverage ratio",
        "box": [
          467.0768,
          160.32190000000003,
          575.2171999999993,
          169.7176333333333
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          575.1968,
          165.02398,
          576.09176,
          168.2877610526316
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          576.0368,
          158.51133999999996,
          579.3221599999999,
          163.85207263157895
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "67%",
        "box": [
          395.4,
          194.42206,
          426.47687999999994,
          207.8740884623116
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unsecured debt / total debt",
        "box": [
          468.5663,
          197.78150000000005,
          598.2412999999995,
          207.17723333333333
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: As of 06/30/2026. Dollars in millions. Adjusted leverage ratio 2.3x vs. 3.5x IG covenant maximum. Unencumbered asset/unsecured debt ratio 1.56x vs. 1.20x minimum.",
        "box": [
          28.8,
          493.8426,
          574.2532200000005,
          500.1081894736842
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.  For a description of this non-GAAP financial measures, see Selected Definitions on page 34",
        "box": [
          28.80000000000001,
          501.8826,
          320.07246000000015,
          508.14998947368423
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.  Percentage of total capitalization",
        "box": [
          28.799400000000006,
          509.7996,
          142.27301999999995,
          516.0681894736842
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "23",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "UNSECURED LENDING SYNDICATE - 13 INSTITUTIONS",
        "box": [
          195.4136,
          374.5021,
          548.2484000000002,
          384.63356487006735
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$5.4B",
        "box": [
          174.6426,
          217.2145,
          224.7066,
          232.40227407035178
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "total ",
        "box": [
          188.8026,
          238.3705,
          210.53981999999996,
          246.7772087719298
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "capitalization",
        "box": [
          171.88080000000002,
          251.0899,
          227.5044600000002,
          259.4966087719298
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.25B",
        "box": [
          395.4,
          270.24906,
          446.6586240000001,
          283.7010884623116
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unsecured revolver capacity @ S+125 bps",
        "box": [
          468.5663,
          272.70070000000004,
          662.9807599999996,
          282.0964333333333
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$275M",
        "box": [
          395.4,
          308.16256,
          446.8862879999999,
          321.61458846231153
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unsecured term loan @ S+140 bps",
        "box": [
          468.5663,
          310.1603,
          629.2675399999998,
          319.55603333333335
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "83%  2",
        "box": [
          395.4,
          229.78304000000003,
          434.93352000000004,
          245.7875884623116
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unsecured/non-recourse debt & book equity",
        "box": [
          468.5663,
          235.24110000000002,
          677.2330399999997,
          244.6368333333333
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CAPITALIZATION SUMMARY",
        "box": [
          104.8336,
          121.20600000000002,
          285.3111999999999,
          131.33746487006738
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repo Debt ",
        "box": [
          244.4954,
          269.4796344,
          278.7424859299999,
          275.74823690760235
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Facilities",
        "box": [
          247.4083,
          278.78453440000004,
          274.16965914999986,
          285.0531369076024
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$933 ",
        "box": [
          252.9914,
          288.00853440000003,
          270.25679299999996,
          294.2771369076023
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(17%)",
        "box": [
          251.8586,
          297.3135344,
          269.70432317000007,
          303.5821369076023
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mortgage ",
        "box": [
          195.7943,
          303.2347344,
          227.77406714000008,
          309.5033369076023
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Debt",
        "box": [
          203.4811,
          312.4587344,
          218.48982247,
          318.7273369076023
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$387 ",
        "box": [
          203.1575,
          321.7636344,
          220.42289300000004,
          328.03223690760234
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(7%)",
        "box": [
          203.9666,
          330.9876344,
          217.92494768000003,
          337.25623690760233
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unsecured ",
        "box": [
          109.986,
          204.1452344,
          144.95108288999998,
          210.41383690760233
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Corporate ",
        "box": [
          110.876,
          213.4502344,
          143.98828565000005,
          219.71883690760234
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Bonds, ",
        "box": [
          116.1354,
          222.67423440000005,
          138.80706671999997,
          228.94283690760238
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Revolver & ",
        "box": [
          109.6623,
          231.97913440000002,
          145.20314952000007,
          238.24773690760236
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Term Loan",
        "box": [
          110.2287,
          241.2031344,
          143.02534080000004,
          247.47173690760235
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2,684 ",
        "box": [
          115.9736,
          250.4271344,
          138.98677163000008,
          256.69573690760234
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(49%)",
        "box": [
          117.6728,
          259.73203440000003,
          135.51852317000004,
          266.00063690760237
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book Equity",
        "box": [
          236.8164,
          182.6993344,
          273.51943104,
          188.96793690760234
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,426 ",
        "box": [
          244.5032,
          192.0043344,
          267.51637163000004,
          198.27293690760234
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(26%)",
        "box": [
          246.2024,
          201.2283344,
          264.0481231700001,
          207.49693690760233
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "BARCLAYS",
        "box": [
          157.66666666666669,
          410.6666666666667,
          223.0,
          424.3333333333333
        ],
        "from_ocr": true,
        "confidence": 0.99998
      },
      {
        "text": "citi",
        "box": [
          236.33333333333334,
          406.0,
          268.66666666666663,
          426.0
        ],
        "from_ocr": true,
        "confidence": 0.96564
      },
      {
        "text": "Citizens",
        "box": [
          285.0,
          409.3333333333333,
          356.6666666666667,
          425.0
        ],
        "from_ocr": true,
        "confidence": 0.99997
      },
      {
        "text": "Deutsche Bank",
        "box": [
          365.0,
          413.3333333333333,
          450.6666666666667,
          424.3333333333333
        ],
        "from_ocr": true,
        "confidence": 0.9975
      },
      {
        "text": "Huntington Bank",
        "box": [
          502.3333333333333,
          406.3333333333333,
          595.3333333333334,
          425.3333333333333
        ],
        "from_ocr": true,
        "confidence": 0.99718
      },
      {
        "text": "J.P.Morgan",
        "box": [
          608.0,
          405.6666666666667,
          684.6666666666666,
          425.3333333333333
        ],
        "from_ocr": true,
        "confidence": 0.99594
      },
      {
        "text": "BANKOFAMERICA",
        "box": [
          63.333333333333336,
          426.6666666666667,
          129.0,
          432.6666666666667
        ],
        "from_ocr": true,
        "confidence": 0.99971
      },
      {
        "text": "M&TBank",
        "box": [
          103.33333333333334,
          450.3333333333333,
          163.33333333333331,
          464.6666666666667
        ],
        "from_ocr": true,
        "confidence": 0.99978
      },
      {
        "text": "Pinnacle",
        "box": [
          185.66666666666666,
          448.0,
          245.0,
          465.0
        ],
        "from_ocr": true,
        "confidence": 0.99481
      },
      {
        "text": "RAYMONDJAMES",
        "box": [
          268.33333333333337,
          451.6666666666667,
          372.6666666666667,
          463.0
        ],
        "from_ocr": true,
        "confidence": 0.99983
      },
      {
        "text": "SOCIETE",
        "box": [
          414.3333333333333,
          449.0,
          464.0,
          458.0
        ],
        "from_ocr": true,
        "confidence": 0.99986
      },
      {
        "text": "usbank",
        "box": [
          496.3333333333333,
          446.3333333333333,
          567.6666666666666,
          465.3333333333333
        ],
        "from_ocr": true,
        "confidence": 0.99959
      },
      {
        "text": "WELLS",
        "box": [
          593.3333333333334,
          449.3333333333333,
          620.3333333333334,
          456.3333333333333
        ],
        "from_ocr": true,
        "confidence": 0.99996
      },
      {
        "text": "GENERALE",
        "box": [
          415.0,
          457.0,
          474.6666666666667,
          465.3333333333333
        ],
        "from_ocr": true,
        "confidence": 0.99981
      },
      {
        "text": "FARGO",
        "box": [
          593.6666666666666,
          456.3333333333333,
          620.3333333333334,
          463.3333333333333
        ],
        "from_ocr": true,
        "confidence": 0.99993
      },
      {
        "text": "FINANCIAL PARTNERS",
        "box": [
          187.33333333333334,
          462.6666666666667,
          243.33333333333334,
          466.3333333333333
        ],
        "from_ocr": true,
        "confidence": 0.98318
      },
      {
        "text": "Pinnacle",
        "box": [
          184.66666666666666,
          446.3333333333333,
          246.66666666666669,
          466.6666666666667
        ],
        "from_ocr": true,
        "confidence": 0.96504
      },
      {
        "text": "FINANCIAL PARTNERS",
        "box": [
          188.0,
          462.6666666666667,
          243.33333333333331,
          466.6666666666667
        ],
        "from_ocr": true,
        "confidence": 0.985
      },
      {
        "text": "sn",
        "box": [
          496.3333333333333,
          446.3333333333333,
          522.6666666666666,
          464.6666666666667
        ],
        "from_ocr": true,
        "confidence": 0.99884
      },
      {
        "text": "bank",
        "box": [
          515.6666666666666,
          444.0,
          570.3333333333334,
          465.6666666666667
        ],
        "from_ocr": true,
        "confidence": 0.9997
      },
      {
        "text": "SOCIETE",
        "box": [
          414.3333333333333,
          448.6666666666667,
          464.3333333333333,
          458.3333333333333
        ],
        "from_ocr": true,
        "confidence": 0.99984
      },
      {
        "text": "GENERALE",
        "box": [
          414.3333333333333,
          456.6666666666667,
          475.3333333333333,
          465.6666666666667
        ],
        "from_ocr": true,
        "confidence": 0.99933
      },
      {
        "text": "RAYMOND JAMES",
        "box": [
          266.3333333333333,
          449.0,
          374.3333333333333,
          465.0
        ],
        "from_ocr": true,
        "confidence": 0.99785
      }
    ]
  },
  {
    "page_no": 24,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "WELL-LADDERED DEBT MATURITIES",
        "box": [
          10.0,
          16.743720000000053,
          635.8454559999993,
          42.05631227502528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Staggered maturities with focus on unsecured debt",
        "box": [
          147.3625,
          100.87236000000001,
          558.71254,
          114.86680896482414
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: As of 06/30/2026.",
        "box": [
          28.8,
          493.827,
          105.77898000000002,
          500.0925894736842
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dollars in millions.",
        "box": [
          109.19460000000001,
          493.827,
          166.71570000000006,
          500.0925894736842
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.  2029 unsecured maturities include $634M corporate bond maturity and $202M corporate revolver maturity",
        "box": [
          28.79220000000001,
          501.867,
          378.01775999999995,
          508.1343894736842
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.  2030 unsecured maturities include $500M corporate bond maturity and $275M term loan maturity",
        "box": [
          28.802399999999977,
          509.784,
          350.3457000000001,
          516.0525894736842
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "DEBT MATURITY PROFILE",
        "box": [
          275.0475,
          166.13722,
          442.66083600000053,
          176.47131416746873
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$116 ",
        "box": [
          219.8509,
          354.1006424,
          239.96027500000005,
          361.4662379836258
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$36 ",
        "box": [
          400.9514,
          357.5466424,
          416.5384,
          364.91223798362574
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$159 ",
        "box": [
          448.5126,
          350.8958424,
          468.6219750000001,
          358.26143798362574
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$60 ",
        "box": [
          553.3668,
          357.5520424,
          568.9538,
          364.9176379836257
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$589 ",
        "box": [
          219.8509,
          300.8691424,
          239.96027500000005,
          308.23473798362573
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$836 ",
        "box": [
          372.2921,
          290.6844424,
          392.40147500000006,
          298.05003798362577
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$775 ",
        "box": [
          448.5126,
          280.4243424,
          468.6219750000001,
          287.7899379836257
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$500 ",
        "box": [
          524.7332,
          316.04054240000005,
          544.842575,
          323.40613798362574
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$842 ",
        "box": [
          143.415,
          229.68830960000003,
          164.00902499999995,
          237.4154089986526
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$705 ",
        "box": [
          219.6375,
          249.4533096,
          240.23152499999995,
          257.1804089986526
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$25 ",
        "box": [
          297.4639,
          353.62440960000004,
          313.42655759999997,
          361.35150899865255
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$872 ",
        "box": [
          372.0911,
          225.1119096,
          392.6851249999999,
          232.83900899865256
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$934 ",
        "box": [
          448.4372,
          215.96450959999999,
          469.03122499999995,
          223.69160899865255
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$560 ",
        "box": [
          524.5313,
          271.7964096,
          545.1253250000002,
          279.5235089986526
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$82 ",
        "box": [
          602.207,
          344.1000096,
          618.1696576000002,
          351.82710899865253
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0",
        "box": [
          95.164,
          362.3694424,
          104.2176875,
          369.7350379836257
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$200",
        "box": [
          86.0649,
          332.1742424,
          104.27148124999998,
          339.5398379836257
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$400",
        "box": [
          86.0649,
          301.9791424,
          104.27148124999998,
          309.3447379836257
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$600",
        "box": [
          86.0649,
          271.7839424,
          104.27148124999998,
          279.14953798362575
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$800",
        "box": [
          86.0649,
          241.58884239999998,
          104.27148124999998,
          248.95443798362572
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,000",
        "box": [
          79.2765,
          211.39364239999998,
          104.26753749999997,
          218.75923798362572
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2026",
        "box": [
          143.6259,
          374.0343424,
          161.83248125000006,
          381.3999379836257
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2027",
        "box": [
          219.8464,
          374.0343424,
          238.05298125000004,
          381.3999379836257
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2028",
        "box": [
          296.067,
          374.0343424,
          314.27358125000006,
          381.3999379836257
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2029",
        "box": [
          372.2876,
          374.0343424,
          390.49418125000005,
          381.3999379836257
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2030",
        "box": [
          448.5081,
          374.0343424,
          466.71468125000007,
          381.3999379836257
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2031",
        "box": [
          524.7286,
          374.0343424,
          542.93518125,
          381.3999379836257
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2032 & Beyond",
        "box": [
          582.0758,
          374.0343424,
          638.02455,
          381.3999379836257
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          391.2339,
          287.83956,
          394.57542,
          294.0917318762089
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          467.47686,
          277.79664,
          470.81838,
          284.0488118762089
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "24",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          450.83001079999997,
          238.4700279391813,
          452.8853,
          242.6314312
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          271.1572108,
          236.52312793918128,
          273.2125,
          240.68453119999998
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          218.1606108,
          240.2807279391813,
          220.2159,
          244.4421312
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          116.0706108,
          236.5201279391813,
          118.1259,
          240.6815312
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          450.83001079999997,
          268.54422793918127,
          452.8853,
          272.70563119999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          295.7171108,
          274.2983279391813,
          297.7724,
          278.4597312
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          218.1606108,
          280.0949279391813,
          220.2159,
          284.2563312
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          140.6041108,
          259.9728279391813,
          142.6594,
          264.1342312
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          528.1178942,
          308.55511861636194,
          530.2227,
          312.92068240000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          450.5594942,
          297.3885186163619,
          452.6643,
          301.7540824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          376.08029419999997,
          238.53481861636186,
          378.1851,
          242.9003824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          295.4336942,
          311.14071861636194,
          297.5385,
          315.50628240000003
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          217.7494942,
          316.3087186163619,
          219.8543,
          320.6742824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          140.3216942,
          284.7653186163619,
          142.4265,
          289.1308824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          65.9960942,
          243.91591861636186,
          68.1009,
          248.28148240000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          82.1468108,
          227.2080279391813,
          84.2021,
          231.3694312
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          73.8165236,
          227.2080279391813,
          75.8718128,
          231.3694312
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(rolling ",
        "box": [
          140.8519,
          297.36402,
          166.33068399999993,
          303.9187905263158
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "financing ",
        "box": [
          137.25334,
          306.3645,
          169.8296920000001,
          312.9192705263158
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "on AAA ",
        "box": [
          140.49286,
          315.36498000000006,
          166.58364400000008,
          321.91975052631585
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "securities)",
        "box": [
          135.93142,
          324.36546000000004,
          169.24462,
          330.92023052631583
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$16",
        "box": [
          172.4612,
          239.02138000000002,
          185.78515999999996,
          246.2412592982456
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$826",
        "box": [
          143.41304,
          281.49862,
          161.17831999999996,
          288.71849929824566
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 25,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "LIQUID UNENCUMBERED ASSET POOL",
        "box": [
          10.0,
          16.743720000000053,
          655.1462440000001,
          42.05631227502528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior secured, financeable unencumbered asset base",
        "box": [
          156.72,
          95.19853999999998,
          563.3584079999999,
          108.32511616080399
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "COMPOSITION",
        "box": [
          125.8845,
          162.79966000000002,
          224.02820400000002,
          173.53901276227145
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "HIGHLIGHTS",
        "box": [
          476.3802,
          162.79966000000002,
          559.4379840000001,
          173.53901276227145
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "73%",
        "box": [
          380.6171,
          199.34518000000003,
          409.636376,
          212.037819758794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unencumbered assets % of total assets",
        "box": [
          447.0001,
          203.64798000000002,
          613.7087079999995,
          212.35139614035091
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "85%",
        "box": [
          380.6171,
          236.78528,
          410.83117999999996,
          249.47791975879397
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Comprised of cash, first mortgage loans and IG securities",
        "box": [
          447.0,
          240.05417999999997,
          688.9655039999982,
          248.75759614035087
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.59x",
        "box": [
          380.6171,
          274.22528,
          417.72481999999997,
          286.9179197587939
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unencumbered assets / unsecured debt ratio",
        "box": [
          447.0001,
          278.26038,
          640.2259239999989,
          286.9637961403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": ">$1.0B",
        "box": [
          380.6171,
          311.66538,
          431.3534479999999,
          324.35801975879394
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cushion vs. 1.20x covenant level",
        "box": [
          447.0001,
          314.66657999999995,
          585.026692,
          323.36999614035085
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~50%",
        "box": [
          380.6171,
          349.70548,
          421.039664,
          362.398119758794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "% of overall IG securities portfolio unencumbered",
        "box": [
          447.0001,
          354.07288,
          658.9350759999982,
          362.7762961403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: As of 06/30/2026. Dollars in millions. Loan amounts shown before CECL allowance. CRE equity amount represents undepreciated asset value.",
        "box": [
          28.8,
          509.59068,
          503.74772400000006,
          516.0490568421053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "25",
        "box": [
          355.93152,
          522.5592,
          364.08809999999994,
          529.1856645614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4.3B",
        "box": [
          147.2814,
          255.6325,
          197.71332000000004,
          270.8202740703518
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "total ",
        "box": [
          161.4415,
          277.52098,
          183.74844400000006,
          286.2243961403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "unencumbered ",
        "box": [
          138.64246,
          288.55618,
          206.55382,
          297.2595961403509
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "assets",
        "box": [
          159.53014,
          299.59137999999996,
          185.61650800000007,
          308.29479614035085
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unrestricted ",
        "box": [
          237.081,
          359.83942,
          279.4593128999999,
          366.4658845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cash",
        "box": [
          249.5609,
          369.67932,
          265.06102321000003,
          376.3057845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$38 ",
        "box": [
          251.2409,
          379.39932,
          265.2978611600001,
          386.0257845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1%)",
        "box": [
          250.0409,
          389.23922000000005,
          264.71291350999996,
          395.86568456140355
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "First ",
        "box": [
          95.6589,
          260.70242,
          111.51277880999999,
          267.3288845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mortgage ",
        "box": [
          86.7789,
          270.54232,
          120.51673236999994,
          277.1687845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans",
        "box": [
          93.3789,
          280.26232,
          112.11910290999998,
          286.88878456140355
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2,682 ",
        "box": [
          91.4589,
          290.10222,
          115.71527829999998,
          296.7286845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(63%)",
        "box": [
          93.3789,
          299.82222,
          112.13116276,
          306.4486845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Securities",
        "box": [
          200.4003,
          208.16102,
          231.74626211999993,
          214.78748456140352
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$925 ",
        "box": [
          207.8403,
          218.00101999999998,
          225.97670641999997,
          224.6274845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(22%)",
        "box": [
          206.6403,
          227.72092000000004,
          225.39256275999995,
          234.34738456140354
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CRE ",
        "box": [
          245.803,
          275.97852,
          260.21773671,
          282.6049845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Equity",
        "box": [
          241.963,
          285.81852000000003,
          262.3996218099999,
          292.44498456140354
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$501 ",
        "box": [
          244.003,
          295.53842,
          262.13940642000006,
          302.1648845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(12%)",
        "box": [
          242.803,
          305.37842,
          261.55526276,
          312.0048845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other ",
        "box": [
          266.9027,
          321.16112,
          287.56202703999986,
          327.7875845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Assets",
        "box": [
          266.0627,
          331.00112,
          286.72524300000003,
          337.6275845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$138 ",
        "box": [
          268.2227,
          340.72102,
          286.3591064200002,
          347.3474845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3%)",
        "box": [
          269.0627,
          350.56102,
          283.73471351,
          357.1874845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 26,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "26",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "EIGHTEEN-YEAR TRACK RECORD",
        "box": [
          10.0,
          16.943719999999985,
          570.3016239999995,
          42.256312275025266
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2008",
        "box": [
          65.4217,
          173.51998000000003,
          103.356376,
          186.212619758794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FOUNDED",
        "box": [
          61.4642,
          192.63098000000002,
          106.73837599999996,
          201.04009584215595
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$611M equity raised",
        "box": [
          42.50036,
          206.89370000000002,
          126.21017599999995,
          215.10260385964915
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2012",
        "box": [
          135.2995,
          326.89118,
          169.52621199999996,
          339.583819758794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "INAUGURAL UNSECURED BOND",
        "box": [
          79.5145,
          345.48037999999997,
          224.74723599999984,
          353.88949584215595
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "First corporate bond issuance",
        "box": [
          89.04622,
          360.4901,
          208.95964000000018,
          368.6990038596491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2022 - 2026",
        "box": [
          414.5537,
          326.89118,
          497.19014000000004,
          339.583819758794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "UNSECURED CREDIT FACILITIES",
        "box": [
          384.0112,
          345.48037999999997,
          527.3136880000005,
          353.88949584215595
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Gradually upsized & reduced cost",
        "box": [
          387.63664,
          360.4901,
          523.3296880000001,
          368.6990038596491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2014",
        "box": [
          214.5966,
          174.11828000000003,
          249.14904,
          186.810919758794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "IPO",
        "box": [
          224.194,
          192.53998,
          240.04035999999996,
          200.94909584215594
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LADR listed on NYSE",
        "box": [
          191.6746,
          207.52978000000002,
          273.088636,
          215.73868385964914
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2025",
        "box": [
          523.7253,
          174.71998000000002,
          559.4978159999997,
          187.412619758794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "IG UPGRADES",
        "box": [
          509.9254,
          192.63098000000002,
          572.7092560000001,
          201.04009584215595
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Moody's (Baa3) / Fitch (BBB-) ",
        "box": [
          482.01748000000003,
          207.12278000000003,
          603.3103600000001,
          215.33168385964916
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2025",
        "box": [
          596.0894,
          326.89118,
          631.8619159999997,
          339.583819758794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "INAUGURAL IG BOND",
        "box": [
          564.2144,
          345.48037999999997,
          663.0076399999994,
          353.88949584215595
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~5.5x oversubscribed",
        "box": [
          570.8875999999999,
          360.4901,
          656.9997680000001,
          368.6990038596491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18 years since founding, 14 years as corporate bond issuer, 12 years as public company",
        "box": [
          32.8403,
          96.90715999999998,
          679.2387800000007,
          109.816767959799
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2018",
        "box": [
          281.6177,
          326.89118,
          316.5464119999999,
          339.583819758794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FOLLOW-ON EQUITY",
        "box": [
          251.7377,
          345.48037999999997,
          345.95133200000015,
          353.88949584215595
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~$100M issuance",
        "box": [
          263.43073999999996,
          360.4901,
          334.1527160000003,
          368.6990038596491
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2020 - 2021",
        "box": [
          335.8066,
          174.11828000000003,
          419.96875600000004,
          186.810919758794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "COVID RESILIENCE",
        "box": [
          336.1666,
          192.53998,
          420.34453600000023,
          200.94909584215594
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Positive credit performance",
        "box": [
          322.29232,
          207.52978000000002,
          434.6500839999993,
          215.73868385964914
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 27,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Michael Scarola",
        "box": [
          50.5136,
          340.51802,
          103.08314000000009,
          347.30610146294515
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Chief Credit Officer",
        "box": [
          45.83432,
          351.07454,
          107.92643600000001,
          357.7010045614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Craig Robertson",
        "box": [
          167.4956,
          342.73706000000004,
          220.89245600000004,
          349.52514146294516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Head of Underwriting & ",
        "box": [
          155.25871999999998,
          353.29358,
          234.95843599999995,
          359.92004456140353
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Portfolio Manager",
        "box": [
          155.62051999999997,
          363.8501,
          232.69839199999993,
          370.4765645614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Adam Siper",
        "box": [
          293.68339999999995,
          342.72902,
          332.05671199999995,
          349.51710146294516
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Head of Origination",
        "box": [
          281.08471999999995,
          353.28554,
          344.8258399999995,
          359.91200456140353
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Ed Peterson",
        "box": [
          412.32163999999995,
          343.47674000000006,
          452.14697599999977,
          350.2648214629452
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Head of CMBS Trading &",
        "box": [
          392.16535999999996,
          354.03326000000004,
          472.28878399999957,
          360.65972456140355
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Co-Head of Securitization",
        "box": [
          391.08799999999997,
          364.58978,
          473.5454359999994,
          371.2162445614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "David Traitel",
        "box": [
          528.6845599999999,
          342.72098000000005,
          570.9846079999996,
          349.50906146294517
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Head of Legal Structuring",
        "box": [
          508.76143999999994,
          353.27750000000003,
          590.7943639999996,
          359.90396456140354
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Brian Harris",
        "box": [
          108.09607999999997,
          207.70526000000007,
          147.29911999999996,
          214.49334146294518
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Founder & ",
        "box": [
          110.37943999999997,
          218.26178000000004,
          146.87541199999995,
          224.88824456140355
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Chief Executive Officer",
        "box": [
          91.05931999999997,
          228.81830000000002,
          164.566628,
          235.44476456140353
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Pamela McCormack",
        "box": [
          211.79599999999994,
          207.09422,
          277.9402759999999,
          213.88230146294512
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Founder & ",
        "box": [
          227.51419999999993,
          217.65073999999998,
          264.0101719999999,
          224.2772045614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "President",
        "box": [
          229.43575999999993,
          228.20725999999996,
          260.3302639999999,
          234.83372456140347
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Paul Miceli",
        "box": [
          344.10223999999994,
          207.08617999999996,
          380.64564799999994,
          213.87426146294507
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Chief Financial Officer",
        "box": [
          326.70367999999996,
          217.64269999999993,
          397.9027039999994,
          224.26916456140344
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Robert Perelman",
        "box": [
          451.11463999999995,
          207.08617999999996,
          507.6181519999997,
          213.87426146294507
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Founder & ",
        "box": [
          462.03295999999995,
          217.64269999999993,
          498.5289319999997,
          224.26916456140344
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Head of Asset Management",
        "box": [
          434.19043999999997,
          228.1992199999999,
          524.7328999999995,
          234.82568456140342
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Kelly Porcella",
        "box": [
          574.17488,
          207.0781399999999,
          618.833864,
          213.86622146294502
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Chief Administrative Officer & ",
        "box": [
          547.65092,
          217.63465999999988,
          647.1636079999992,
          224.2611245614034
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "General Counsel",
        "box": [
          569.84936,
          228.19117999999986,
          623.1706399999999,
          234.81764456140337
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Anthony Esposito",
        "box": [
          401.7651200000001,
          470.1147799999998,
          459.969092,
          476.90286146294494
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Chief Accounting Officer",
        "box": [
          391.4417600000001,
          480.6712999999998,
          470.4548599999994,
          487.2977645614033
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Matthew FitzGerald",
        "box": [
          514.0598000000001,
          470.1147799999998,
          580.5377359999998,
          476.90286146294494
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Treasurer",
        "box": [
          531.6995600000001,
          480.6712999999998,
          563.0724440000001,
          487.2977645614033
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "David Merkur",
        "box": [
          170.22920000000016,
          470.1147799999998,
          216.04272799999998,
          476.90286146294494
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Managing Director -",
        "box": [
          159.90584000000015,
          480.6712999999998,
          226.42880000000014,
          487.2977645614033
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Capital Markets",
        "box": [
          167.58404000000016,
          491.22781999999984,
          218.72487200000035,
          497.85428456140335
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "#",
        "box": [
          664.2252,
          129.93760000000003,
          668.1096,
          136.52305216554385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "years of",
        "box": [
          676.7313,
          128.13842,
          702.46332,
          134.7648845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "industry",
        "box": [
          676.7313,
          137.73818,
          703.2842039999997,
          144.3646445614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "experience",
        "box": [
          676.7313,
          147.33794,
          712.41684,
          153.9644045614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "41",
        "box": [
          158.358,
          126.73769999999996,
          165.6084,
          132.81657892204043
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "30",
        "box": [
          277.1876,
          126.73769999999996,
          284.43799999999993,
          132.81657892204043
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "22",
        "box": [
          394.1945,
          126.73769999999996,
          401.44489999999996,
          132.81657892204043
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "38",
        "box": [
          510.1927,
          126.73769999999996,
          517.4431000000001,
          132.81657892204043
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20",
        "box": [
          627.2578,
          126.73769999999996,
          634.5082,
          132.81657892204043
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "28",
        "box": [
          109.6174,
          261.2528,
          116.86780000000002,
          267.33167892204045
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "19",
        "box": [
          225.6157,
          261.2528,
          232.8661,
          267.33167892204045
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20",
        "box": [
          344.494,
          261.2528,
          351.7444,
          267.33167892204045
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "40",
        "box": [
          466.1214,
          261.2528,
          473.37179999999995,
          267.33167892204045
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "30",
        "box": [
          582.2833,
          261.2528,
          589.5337000000001,
          267.33167892204045
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13",
        "box": [
          581.8224,
          389.9012,
          589.0728,
          395.98007892204043
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13",
        "box": [
          697.2814,
          389.9012,
          704.5318,
          395.98007892204043
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Tara Tannure",
        "box": [
          642.0276,
          470.16892,
          686.5161359999996,
          476.95700146294513
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Executive Director &",
        "box": [
          630.98868,
          480.72544,
          697.5566639999998,
          487.3519045614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Controller",
        "box": [
          648.02544,
          491.28196,
          680.7104519999997,
          497.90842456140354
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mark Ableman",
        "box": [
          640.97436,
          343.17712000000006,
          690.5321159999999,
          349.9652014629452
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Head of Transaction ",
        "box": [
          633.05496,
          353.73364000000004,
          700.1487599999999,
          360.36010456140355
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Management",
        "box": [
          643.8526800000001,
          364.29016000000007,
          687.709272,
          370.9166245614036
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "24",
        "box": [
          698.1415,
          260.9194,
          705.3919,
          266.99827892204047
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Michelle Wallach",
        "box": [
          46.864,
          470.16892,
          103.98900399999998,
          476.95700146294513
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Chief Compliance Officer & ",
        "box": [
          31.266399999999997,
          480.72544,
          121.41650800000002,
          487.3519045614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior Regulatory Counsel",
        "box": [
          32.70556,
          491.28196,
          118.18523200000004,
          497.90842456140354
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "34",
        "box": [
          108.9197,
          389.9012,
          116.17010000000002,
          395.98007892204043
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "24",
        "box": [
          464.3234,
          389.9012,
          471.57379999999995,
          395.98007892204043
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Michael Cafaro",
        "box": [
          286.2216,
          470.16892,
          336.39441600000015,
          476.95700146294513
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Chief Technology Officer",
        "box": [
          271.33956,
          480.72544,
          351.19364399999927,
          487.3519045614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "15",
        "box": [
          224.8696,
          389.9012,
          232.11999999999998,
          395.98007892204043
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "15",
        "box": [
          345.343,
          389.9012,
          352.5934,
          395.98007892204043
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CYCLE-TESTED TEAM",
        "box": [
          10.0,
          16.724019999999996,
          369.176956,
          42.03661227502528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Highly experienced executive team with deep bench of senior managers",
        "box": [
          88.4269,
          78.52422000000001,
          637.504803999999,
          91.86776436180907
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 28,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "13 ORIGINATORS",
        "box": [
          62.2243,
          275.71174,
          129.58159600000005,
          283.71559724735323
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          46.2643,
          295.31542,
          49.5823,
          304.22425
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Key relationships with ",
        "box": [
          59.8242,
          296.11174,
          146.68754400000012,
          303.9250340350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "direct borrowers & ",
        "box": [
          59.8242,
          307.51618,
          134.9285520000001,
          315.32947403508774
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "leading brokers ",
        "box": [
          59.8242,
          318.92062,
          121.6053600000001,
          326.7339140350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "nationwide",
        "box": [
          59.8242,
          330.32506,
          103.42556400000005,
          338.1383540350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          46.2643,
          349.91542000000004,
          49.5823,
          358.82425
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Compensation linked ",
        "box": [
          59.8242,
          350.71174,
          143.4453840000001,
          358.52503403508774
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "to loan performance, ",
        "box": [
          59.8242,
          362.11618,
          143.5629360000001,
          369.9294740350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "not volume; ",
        "box": [
          59.8242,
          373.52062,
          108.52770000000001,
          381.3339140350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "significant portion ",
        "box": [
          59.8242,
          384.92506,
          132.04473599999986,
          392.7383540350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "paid in stock",
        "box": [
          59.8242,
          396.3295,
          107.93804400000006,
          404.1427940350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11 UNDERWRITERS",
        "box": [
          191.93748,
          275.47846,
          267.82203599999997,
          283.4823172473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          180.1756,
          295.06012,
          183.49360000000001,
          303.96895
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Independent from ",
        "box": [
          193.7356,
          295.85644,
          266.55622000000005,
          303.6697340350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "origination - leads ",
        "box": [
          193.7356,
          307.26088,
          266.80649199999993,
          315.0741740350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "due diligence process",
        "box": [
          193.74508,
          318.66532,
          276.656212,
          326.47861403508773
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          180.1756,
          338.26012000000003,
          183.49360000000001,
          347.16895
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Independent ",
        "box": [
          193.7356,
          339.05644,
          245.67841600000003,
          346.86973403508773
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "appraisal and third-",
        "box": [
          193.7356,
          350.46088,
          268.87408,
          358.2741740350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "party reports",
        "box": [
          193.73560000000003,
          361.86532,
          244.2440920000001,
          369.67861403508766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          180.1756,
          381.46012,
          183.49360000000001,
          390.36895000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Visit every asset prior ",
        "box": [
          193.7356,
          382.25644,
          278.795848,
          390.0697340350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "to funding",
        "box": [
          193.7356,
          393.66088,
          233.59900000000007,
          401.4741740350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          180.1756,
          413.26012000000003,
          183.49360000000001,
          422.16895
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Limited outsourcing ",
        "box": [
          193.7356,
          414.05644,
          272.67935199999994,
          421.86973403508773
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "to ensure quality and ",
        "box": [
          193.7356,
          425.46088,
          277.5994719999999,
          433.2741740350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "accountability",
        "box": [
          193.7356,
          436.86532,
          247.9498240000002,
          444.6786140350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ACTIVE SURVEILLANCE",
        "box": [
          593.4123999999999,
          275.46832,
          682.1641599999995,
          283.4721772473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          585.4901,
          295.06012,
          588.8081,
          303.96895
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Maintain direct ",
        "box": [
          599.05,
          295.85644,
          660.1163679999997,
          303.6697340350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "dialogue with loan ",
        "box": [
          599.05,
          307.26088,
          672.228964,
          315.0741740350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "servicers and ",
        "box": [
          599.05,
          318.66532,
          651.830848,
          326.47861403508773
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "borrowers",
        "box": [
          599.05,
          330.06976,
          639.3570639999999,
          337.8830540350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          585.4901,
          349.66012,
          588.8081,
          358.56895
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Proactively manage ",
        "box": [
          599.05,
          350.45644,
          676.4333439999998,
          358.2697340350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and oversee all assets",
        "box": [
          599.05,
          361.86088,
          682.6816120000002,
          369.67417403508773
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          585.4901,
          381.46012,
          588.8081,
          390.36895000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Conduct regular formal ",
        "box": [
          599.05,
          382.25644,
          690.5974119999994,
          390.0697340350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "asset and portfolio ",
        "box": [
          599.05,
          393.66088,
          673.6708719999995,
          401.4741740350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "reviews",
        "box": [
          599.05,
          405.06532,
          628.682584,
          412.8786140350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          585.4901,
          424.66012,
          588.8081,
          433.56895
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Provide comprehensive ",
        "box": [
          599.05,
          425.45644,
          691.7937879999993,
          433.2697340350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "quarterly reporting",
        "box": [
          599.05,
          436.86088,
          672.6337599999995,
          444.67417403508773
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LEGAL & CLOSINGS",
        "box": [
          325.49511999999993,
          275.46388,
          399.9491440000001,
          283.4677372473532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          312.6579,
          295.06012,
          315.97589999999997,
          303.96895
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Independent, highly ",
        "box": [
          326.218,
          295.85644,
          405.7589919999995,
          303.6697340350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "experienced team of ",
        "box": [
          326.218,
          307.26088,
          408.05599600000016,
          315.0741740350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "attorneys leads legal ",
        "box": [
          326.218,
          318.66532,
          407.44358800000015,
          326.47861403508773
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "process and ",
        "box": [
          326.218,
          330.06976,
          374.68165599999975,
          337.8830540350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "transaction closings",
        "box": [
          326.218,
          341.4742,
          401.92622800000015,
          349.28749403508766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          312.6579,
          361.06012,
          315.97589999999997,
          369.96895
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Conduct legal ",
        "box": [
          326.218,
          361.85644,
          380.679652,
          369.6697340350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "diligence and manage ",
        "box": [
          326.218,
          373.26088,
          412.354228,
          381.0741740350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "outside counsel",
        "box": [
          326.218,
          384.66532,
          386.7070359999998,
          392.47861403508773
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          312.6579,
          404.26012000000003,
          315.97589999999997,
          413.16895
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Oversee ",
        "box": [
          326.218,
          405.05644,
          360.04738000000015,
          412.86973403508773
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "securitizations and ",
        "box": [
          326.218,
          416.46088,
          400.48526799999956,
          424.2741740350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "asset dispositions",
        "box": [
          326.218,
          427.86532,
          394.10996800000004,
          435.6786140350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ORIGINATION",
        "box": [
          60.6419,
          179.02931999999998,
          140.57442799999998,
          190.88313389797884
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CREDIT / ",
        "box": [
          208.45502,
          174.83135999999996,
          262.39529600000003,
          186.6851738979788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "UNDERWRITING",
        "box": [
          186.25778,
          188.74499999999995,
          281.35631599999994,
          200.5988138979788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "INVESTMENT",
        "box": [
          456.20485999999994,
          174.83135999999996,
          532.8772999999999,
          186.6851738979788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "COMMITTEE",
        "box": [
          458.1283399999999,
          191.74955999999997,
          530.866772,
          203.60337389797883
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "TRANSACTION",
        "box": [
          323.4987799999999,
          174.83135999999996,
          407.8749680000001,
          186.6851738979788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "MANAGEMENT",
        "box": [
          320.8592599999999,
          191.74955999999997,
          410.3600479999997,
          203.60337389797883
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ASSET ",
        "box": [
          609.0442999999998,
          174.83135999999996,
          647.7371360000002,
          186.6851738979788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "MANAGEMENT",
        "box": [
          582.0453799999998,
          188.74499999999995,
          671.5461679999995,
          200.5988138979788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note:  As of 06/30/2026",
        "box": [
          29.5083,
          509.1499,
          104.26842000000002,
          515.4154894736843
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Independent oversight at every stage of investment process",
        "box": [
          114.6674,
          83.34355999999997,
          603.5245039999994,
          96.79558846231157
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "INVESTMENT AND RISK MANAGEMENT PROCESS",
        "box": [
          9.9999,
          16.53290000000004,
          710.2074599999996,
          37.71725834175936
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "28",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "APPROVAL PROCESS",
        "box": [
          457.6426,
          275.71174,
          537.9694840000002,
          283.71559724735323
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          446.95864,
          295.31638,
          450.27664,
          304.22521
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Every investment ",
        "box": [
          460.51504,
          296.1127,
          529.3872400000001,
          303.9259940350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "approved through ",
        "box": [
          460.51504,
          307.51714,
          532.6189719999995,
          315.3304340350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "comprehensive credit ",
        "box": [
          460.51504,
          318.92158,
          546.2957679999996,
          326.7348740350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "committee comprised ",
        "box": [
          460.51504,
          330.32601999999997,
          547.5044680000004,
          338.1393140350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of managers with ",
        "box": [
          460.51504,
          341.73046,
          529.7370519999996,
          349.54375403508766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "significant stake in LADR",
        "box": [
          460.51504,
          353.13489999999996,
          554.1016000000001,
          360.9481940350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          446.95864,
          378.74037999999996,
          450.27664,
          387.64921
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk & Underwriting ",
        "box": [
          460.51504,
          379.5367,
          540.0617199999996,
          387.34999403508766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Committee of the Board ",
        "box": [
          460.51504,
          390.94113999999996,
          556.1322160000004,
          398.7544340350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "approves investments ",
        "box": [
          460.51504,
          402.34558,
          547.4978319999999,
          410.1588740350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "above size thresholds",
        "box": [
          460.51504,
          413.75001999999995,
          543.5399319999997,
          421.56331403508767
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 29,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Note:  As of 06/30/2026.  Dollars in millions, except per share amounts.",
        "box": [
          24.3606,
          461.31432,
          226.75461599999963,
          466.9051536842105
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.  All metrics shown on a consolidated basis, except weighted-average % owned by Ladder",
        "box": [
          24.3606,
          469.35312,
          283.40414400000003,
          474.94395368421056
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.  Excludes investments in unconsolidated ventures with total book value of $41.5 million",
        "box": [
          24.360600000000005,
          477.39192,
          279.05066400000015,
          482.98275368421054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.  Excludes hotel assets",
        "box": [
          24.360600000000005,
          485.3124,
          92.45515200000003,
          490.90323368421053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4.  Includes restricted cash, investments in unconsolidated ventures, accrued interest receivable, CECL allowance, derivative instruments and other assets",
        "box": [
          24.360600000000005,
          493.3512,
          458.9304719999998,
          498.9420336842105
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.  Includes dividends payable, accrued expenses and other liabilities",
        "box": [
          24.360599999999977,
          501.39,
          218.17572000000004,
          506.98083368421055
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.  For a description of these GAAP and non-GAAP financial measures, see Selected Definitions on page 34",
        "box": [
          24.360599999999977,
          509.31048,
          324.622656,
          514.9013136842105
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LADDER FINANCIAL SNAPSHOT",
        "box": [
          10.0,
          16.943719999999985,
          543.0993399999998,
          42.256312275025266
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "29",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Snapshot of Business Lines",
        "box": [
          206.5439,
          96.01341359999998,
          297.68340843,
          102.94087130292394
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Assets & Liabilities, Book Equity, Leverage and ROE",
        "box": [
          506.9111,
          96.01341359999998,
          699.6858149700023,
          102.94087130292394
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Balance Sheet Loans",
        "box": [
          42.5986,
          110.73368319999997,
          106.25212419999998,
          117.09953586448506
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net Leased Commercial Real Estate  (100% Owned)",
        "box": [
          269.0894,
          110.52768319999996,
          427.30692128000015,
          116.89363586448508
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Assets",
        "box": [
          503.6594819,
          110.73126049999996,
          541.2793028299996,
          117.09711316448505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Carrying Value of Assets",
        "box": [
          42.5986,
          121.28148319999997,
          116.41844103,
          127.49577177543858
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2,790",
        "box": [
          201.0639,
          121.28148319999997,
          222.100779,
          127.49577177543858
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Carrying Value of Assets",
        "box": [
          269.0906822,
          121.28148319999997,
          342.9112772400006,
          127.49577177543858
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$393",
        "box": [
          433.2838998,
          121.28148319999997,
          448.59784290000005,
          127.49577177543858
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cash & Cash Equivalents",
        "box": [
          503.6556531,
          121.28148319999997,
          578.283038840001,
          127.49577177543858
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$38",
        "box": [
          678.4804117,
          121.28148319999997,
          689.9639840000002,
          127.49577177543858
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Secured Financing on Assets",
        "box": [
          42.60115840000003,
          132.1615589,
          128.93756542999998,
          138.3758474754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "107",
        "box": [
          210.62474680000003,
          132.1615589,
          222.10831910000002,
          138.3758474754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Undepreciated Book Value of Assets",
        "box": [
          269.0906822,
          132.1615589,
          380.1224247500003,
          138.3758474754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "597",
        "box": [
          437.1142706,
          132.1615589,
          448.59784290000005,
          138.3758474754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans, Securities & Real Estate",
        "box": [
          503.6556531,
          132.1615589,
          597.0624118999999,
          138.3758474754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,748",
        "box": [
          672.7499356999999,
          132.1615589,
          689.9564439000003,
          138.3758474754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net Equity Invested (excl. Corporate Debt)",
        "box": [
          42.5936183,
          143.0416346,
          171.97268617999998,
          149.25592317543862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,683",
        "box": [
          204.8942708,
          143.0416346,
          222.100779,
          149.25592317543862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Secured Financing on Assets",
        "box": [
          269.09068219999995,
          143.0416346,
          355.42708922999935,
          149.25592317543862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "281",
        "box": [
          437.11427059999994,
          143.0416346,
          448.5978429,
          149.25592317543862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accumulated Depreciation & Amortization",
        "box": [
          503.65565309999994,
          143.0416346,
          633.5987204599985,
          149.25592317543862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(281)",
        "box": [
          676.2108416,
          143.0416346,
          692.2524043500001,
          149.25592317543862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "% First Mortgage",
        "box": [
          42.5936183,
          153.92171030000003,
          94.71531355999997,
          160.13599887543864
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "99.9%",
        "box": [
          203.32593,
          153.92171030000003,
          222.10304103,
          160.13599887543864
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net Equity Invested (excl. Corporate Debt)",
        "box": [
          269.08314210000003,
          153.92171030000003,
          398.4629639899991,
          160.13599887543864
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "316",
        "box": [
          437.1067305,
          153.92171030000003,
          448.5903028000001,
          160.13599887543864
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other ",
        "box": [
          503.6561,
          154.0369832,
          522.3534756,
          160.25127177543862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          522.3621,
          152.81304159999996,
          524.5555341,
          156.37863998128654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "102",
        "box": [
          678.4789,
          153.9133832,
          689.9624723000002,
          160.1276717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "% Other (Mezzanine / Subordinate)",
        "box": [
          42.5986,
          164.79058319999996,
          149.08301408999995,
          171.0049717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.1%",
        "box": [
          207.1651584,
          164.7906832,
          222.11189863,
          171.0049717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Square Feet",
        "box": [
          269.0919997,
          164.7906832,
          322.8717629500001,
          171.0049717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,437,369",
        "box": [
          418.0014345999999,
          164.7906832,
          448.5916203000001,
          171.0049717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Assets",
        "box": [
          503.66451069999994,
          164.7906832,
          540.3930918100004,
          171.0049717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,606",
        "box": [
          672.7587933,
          164.7906832,
          689.9653015000004,
          171.0049717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Weighted-Average Yield",
        "box": [
          42.5986,
          175.6678832,
          116.43352123,
          181.88217177543862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.3%",
        "box": [
          207.1619,
          175.6678832,
          222.10864023000002,
          181.88217177543862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Weighted-Average % Leased",
        "box": [
          269.0887413,
          175.6678832,
          356.40008326000003,
          181.88217177543862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100%",
        "box": [
          431.71361809999996,
          175.6678832,
          448.595902,
          181.88217177543862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Origination Volume  (LTM)",
        "box": [
          42.5986,
          186.5451832,
          122.54719427,
          192.7595717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2,089",
        "box": [
          201.0645176,
          186.54528319999997,
          222.1013966,
          192.7595717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "In-Place Annual Net Operating Income  (NOI)",
        "box": [
          269.0912998,
          186.54528319999997,
          404.9918400599999,
          192.7595717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$38.2",
        "box": [
          431.3852061,
          186.54528319999997,
          448.5939763300001,
          192.7595717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Liabilities",
        "box": [
          503.6570646,
          186.87703879999998,
          550.8769408499995,
          193.24289146448507
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Funding Volume  (LTM)",
        "box": [
          42.5986,
          197.4224832,
          112.69969427,
          203.63687177543858
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,931",
        "box": [
          204.894759,
          197.42258319999996,
          222.1012672,
          203.63687177543858
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accounting method:  carried at depreciated book value",
        "box": [
          281.0346888,
          197.41504329999998,
          448.32990354000043,
          203.4716994631579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unsecured Corporate Bonds",
        "box": [
          503.6561413,
          197.42258319999996,
          590.1124359199995,
          203.63687177543858
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2,207",
        "box": [
          668.9200531,
          197.42258319999996,
          689.9569321000005,
          203.63687177543858
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accounting method:  carried at amortized cost",
        "box": [
          67.5262,
          208.2922433,
          208.84577023999995,
          214.34889946315792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unsecured Revolving Credit Facility",
        "box": [
          503.6561,
          208.29978319999998,
          611.3076157200002,
          214.5140717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "477",
        "box": [
          678.4808585999999,
          208.29978319999998,
          689.9644309000001,
          214.5140717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Unsecured Debt",
        "box": [
          503.6560999999999,
          219.1798589,
          570.3995571799994,
          225.39414747543861
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,684",
        "box": [
          672.7503826,
          219.1798589,
          689.9568908000003,
          225.39414747543861
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Conduit Loans",
        "box": [
          42.594065200000045,
          230.3841503,
          86.83710997000006,
          236.75000296448508
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diversified Commercial Real Estate ",
        "box": [
          269.0895,
          230.17798319999997,
          378.9271756,
          236.54383586448506
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,",
        "box": [
          378.9357,
          228.9541416,
          382.2366669,
          232.60670354340715
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          382.232,
          234.0061472,
          382.3902904,
          234.59748703291626
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          382.3968,
          228.9541416,
          384.5902341,
          232.60670354340715
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Secured Financing",
        "box": [
          503.6562,
          230.05438319999996,
          559.1649081800001,
          236.26867177543858
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,321",
        "box": [
          672.7504825999999,
          230.05438319999996,
          689.9569908000003,
          236.26867177543858
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Carrying Value of Assets",
        "box": [
          42.5986,
          240.9316832,
          116.41844103,
          247.14597177543862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$27",
        "box": [
          210.6229,
          240.9316832,
          222.10647229999998,
          247.14597177543862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Carrying Value of Assets",
        "box": [
          269.0888354,
          240.9316832,
          342.9086764300006,
          247.14597177543862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$383",
        "box": [
          433.282053,
          240.9316832,
          448.5959961000001,
          247.14597177543862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Debt",
        "box": [
          503.65380630000004,
          240.9316832,
          535.7587980899999,
          247.14597177543862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,005",
        "box": [
          672.7480889000001,
          240.9316832,
          689.9545971000005,
          247.14597177543862
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Secured Financing on Assets",
        "box": [
          42.59177150000016,
          251.81175890000003,
          128.9281785300001,
          258.02604747543865
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          218.35904260000015,
          251.81175890000003,
          222.11401240000015,
          258.02604747543865
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Undepreciated Book Value of Assets",
        "box": [
          269.08129530000014,
          251.81175890000003,
          380.1130378500004,
          258.02604747543865
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "461",
        "box": [
          437.10488370000013,
          251.81175890000003,
          448.5884560000002,
          258.02604747543865
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other ",
        "box": [
          503.6561,
          251.93258319999995,
          522.3535756,
          258.14687177543857
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5",
        "box": [
          522.3621,
          250.7087416,
          524.5555341,
          254.27433998128657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "175",
        "box": [
          678.4789,
          251.8089832,
          689.9624723000002,
          258.0232717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net Equity Invested (excl. Corporate Debt)",
        "box": [
          42.5986,
          262.6862832,
          171.97766787999996,
          268.9005717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27",
        "box": [
          214.4548,
          262.6862832,
          222.1080015,
          268.9005717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Secured Financing on Assets",
        "box": [
          269.0903646,
          262.6862832,
          355.4267716299994,
          268.9005717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "107",
        "box": [
          437.113953,
          262.6862832,
          448.59752530000003,
          268.9005717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Liabilities",
        "box": [
          503.6553355,
          262.6862832,
          549.4765232000001,
          268.9005717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,180",
        "box": [
          672.7496180999999,
          262.6862832,
          689.9561263000003,
          268.9005717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Weighted-Average Coupon",
        "box": [
          42.593300699999986,
          273.5663589,
          125.48840608999993,
          279.7806474754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4.6%",
        "box": [
          207.15598319999998,
          273.5663589,
          222.10272343,
          279.7806474754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net Equity Invested (excl. Corporate Debt)",
        "box": [
          269.08282449999996,
          273.5663589,
          398.46189237999903,
          279.7806474754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "354",
        "box": [
          437.10641289999995,
          273.5663589,
          448.5899852,
          279.7806474754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Origination Volume  (LTM)",
        "box": [
          42.5986,
          284.44088320000003,
          122.54719427,
          290.6551717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$26",
        "box": [
          210.62536440000002,
          284.44088320000003,
          222.10893670000002,
          290.6551717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Square Feet",
        "box": [
          269.0912998,
          284.44088320000003,
          322.87106305000015,
          290.6551717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,530,614",
        "box": [
          418.00073469999995,
          284.44088320000003,
          448.59092040000013,
          290.6551717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book Equity Value",
        "box": [
          503.66381079999996,
          284.5615216,
          560.6066459999998,
          290.927374264485
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Sale Volume  (LTM)",
        "box": [
          42.5986,
          295.3181832,
          117.14959427,
          301.5324717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "34",
        "box": [
          214.4568468,
          295.3181832,
          222.1100483,
          301.5324717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Weighted-Average Occupancy ",
        "box": [
          269.0924114,
          295.4388216,
          362.3636756,
          301.6531101754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3",
        "box": [
          362.3723,
          294.2179416,
          364.5657341,
          297.78353998128654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "79%",
        "box": [
          435.5481,
          295.3181832,
          448.6000131,
          301.5324717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP Book Equity Value  (excl. NCI)",
        "box": [
          503.65782329999996,
          295.3181832,
          611.3746849399997,
          301.5324717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,429",
        "box": [
          668.9177121,
          295.3181832,
          689.9545911000005,
          301.5324717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accounting method:  carried at lower of cost or FMV",
        "box": [
          58.5028,
          306.18794330000003,
          217.8794017199999,
          312.2445994631579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "In-Place Annual Net Operating Income  (NOI)",
        "box": [
          269.0895,
          306.1954832,
          404.9918400599999,
          312.40977177543857
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$30.6",
        "box": [
          431.3852061,
          306.1954832,
          448.5939763300001,
          312.40977177543857
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Shares Outstanding (mm)",
        "box": [
          503.6570646,
          306.1954832,
          598.9330141899993,
          312.40977177543857
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "126.9",
        "box": [
          672.7513472,
          306.1954832,
          689.9601174300004,
          312.40977177543857
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Weighted-Average % Owned by Ladder",
        "box": [
          269.0895,
          317.0727832,
          389.0509829799991,
          323.28707177543856
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "94.8%",
        "box": [
          429.821,
          317.0727832,
          448.5981110300001,
          323.28707177543856
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP Book Value per Share ",
        "box": [
          503.6561,
          317.1963832,
          589.3078756,
          323.4106717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6",
        "box": [
          589.3164,
          315.9724416,
          591.5098341,
          319.53803998128654
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$11.27",
        "box": [
          668.9199,
          317.0727832,
          689.9590410300004,
          323.28707177543856
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accounting method:  carried at depreciated book value",
        "box": [
          281.0382,
          327.9425433,
          448.3311527100005,
          333.9991994631579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Undepreciated Book Value per Share ",
        "box": [
          503.6561,
          328.0736832,
          617.4904756,
          334.28797177543856
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6",
        "box": [
          617.499,
          326.8498416,
          619.6924341,
          330.41543998128657
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.44",
        "box": [
          668.9199,
          327.9500832,
          689.9590410300004,
          334.1643717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Securities",
        "box": [
          42.5986,
          339.1569832,
          72.96936879,
          345.52283586448505
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Carrying Value of Assets",
        "box": [
          42.5986,
          349.7046832,
          116.41844103,
          355.9189717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,872",
        "box": [
          201.0613416,
          349.7046832,
          222.0982206,
          355.9189717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Leverage ",
        "box": [
          503.6561,
          349.8282832,
          532.6129756,
          356.1941358644851
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6",
        "box": [
          532.6216,
          348.6044416,
          534.8150340999999,
          352.2570035434071
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Secured Financing on Assets",
        "box": [
          42.5986,
          360.58198319999997,
          128.93500702999992,
          366.7962717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "826",
        "box": [
          210.6229,
          360.58198319999997,
          222.10647229999998,
          366.7962717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Adjusted Debt  (for Adjusted Leverage Ratio)",
        "box": [
          503.6561,
          360.58198319999997,
          639.2316020400002,
          366.7962717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,005",
        "box": [
          668.9214998,
          360.58198319999997,
          689.9583788000004,
          366.7962717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net Equity Invested (excl. Corporate Debt)",
        "box": [
          42.5986,
          371.4591832,
          171.97766787999996,
          377.6734717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,047",
        "box": [
          204.8958,
          371.4591832,
          222.1023082,
          377.6734717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Adjusted Equity",
        "box": [
          503.6571823,
          371.4591832,
          569.0750898999994,
          377.6734717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,736",
        "box": [
          672.7514649,
          371.4591832,
          689.9579731000003,
          377.6734717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "% AAA-Rated",
        "box": [
          42.59514750000005,
          382.3392589,
          83.01837761000003,
          388.55354747543856
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "96%",
        "box": [
          209.05039510000006,
          382.3392589,
          222.10230820000007,
          388.55354747543856
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Adjusted Leverage Ratio",
        "box": [
          503.6496422,
          382.3392589,
          577.8743866000002,
          388.55354747543856
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.3x",
        "box": [
          677.1548832999999,
          382.3392589,
          689.9753153300002,
          388.55354747543856
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "% Investment Grade-Rated",
        "box": [
          42.59514749999994,
          393.2193346,
          125.03709287999992,
          399.4336231754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "99%",
        "box": [
          209.05039509999995,
          393.2193346,
          222.10230819999995,
          399.4336231754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Weighted-Average Yield",
        "box": [
          42.59514749999994,
          404.0994103,
          116.4300687299999,
          410.3136988754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.2%",
        "box": [
          207.15782999999993,
          404.0994103,
          222.10457022999995,
          410.3136988754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Return on Average Equity ",
        "box": [
          503.6561,
          404.21468319999997,
          584.5282756,
          410.58053586448506
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6",
        "box": [
          584.5368,
          402.99084159999995,
          586.7302341,
          406.6434035434071
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Average CUSIP Size",
        "box": [
          42.5986,
          414.9683832,
          101.11053000999999,
          421.1826717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.9",
        "box": [
          204.8958,
          414.9683832,
          222.10457023,
          421.1826717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings  (LTM)",
        "box": [
          503.6561,
          414.9683832,
          591.2681942700001,
          421.1826717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$112",
        "box": [
          674.6488821,
          414.9683832,
          689.9628252000003,
          421.1826717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Weighted-Average Duration",
        "box": [
          42.5986,
          425.8456832,
          128.67336556,
          432.0599717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.0 Years ",
        "box": [
          194.8011,
          425.8456832,
          224.39750051999997,
          432.0599717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Average Shareholders' Equity Value  (LTM)",
        "box": [
          503.6561,
          425.8456832,
          632.5946942700001,
          432.0599717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,473",
        "box": [
          672.7555289000001,
          425.8456832,
          689.9620371000004,
          432.0599717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accounting method:  carried at FMV",
        "box": [
          83.0184,
          436.7155433,
          193.36776349999994,
          442.7721994631579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "After-Tax Distributable ROAE  (LTM)",
        "box": [
          503.6561,
          436.7230832,
          612.73489427,
          442.9373717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.4%",
        "box": [
          675.0183823,
          436.7230832,
          689.9651225300003,
          442.9373717754386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "B",
        "box": [
          132.7212,
          251.51688000000001,
          137.13984000000002,
          257.4590290909091
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "C",
        "box": [
          132.7212,
          360.07878,
          137.13984000000002,
          366.02092909090914
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "D",
        "box": [
          359.7762,
          142.80948,
          364.19484,
          148.7516290909091
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "E",
        "box": [
          359.5136,
          262.53778,
          363.59564,
          268.4799290909091
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "A",
        "box": [
          563.4583,
          230.30578000000003,
          567.87694,
          236.2479290909091
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "B",
        "box": [
          576.6908,
          230.30578000000003,
          581.10944,
          236.2479290909091
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "C",
        "box": [
          589.9234,
          230.30578000000003,
          594.34204,
          236.2479290909091
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "D",
        "box": [
          603.156,
          230.30578000000003,
          607.5746399999999,
          236.2479290909091
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "E",
        "box": [
          616.5135,
          230.30578000000003,
          620.59554,
          236.2479290909091
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "A",
        "box": [
          132.6768,
          132.24588,
          137.09544,
          138.18802909090908
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 30,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "1.  For a description of these non-GAAP financial measures, see Selected Definitions on page 34",
        "box": [
          24.3607,
          501.21452,
          313.082128,
          507.2873221052632
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.  For a reconciliation of this metric, see page 31",
        "box": [
          24.36345999999999,
          509.2508,
          173.27051200000014,
          515.3273221052632
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "INCOME STATEMENT BY QUARTER",
        "box": [
          10.0,
          16.943719999999985,
          593.793616,
          42.256312275025266
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in millions, except per share values)",
        "box": [
          86.7822,
          76.77819399999998,
          201.5754573999999,
          82.78834021052631
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2026",
        "box": [
          372.3227,
          76.84791759999996,
          399.6772628,
          83.5247218071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2026",
        "box": [
          429.5728,
          76.84791759999996,
          456.92736279999997,
          83.5247218071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q4 2025",
        "box": [
          486.8229,
          76.84791759999996,
          514.1774628,
          83.5247218071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q3 2025",
        "box": [
          544.073,
          76.84801759999999,
          571.4275627999999,
          83.52482180712224
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2025",
        "box": [
          601.3231,
          76.84811759999997,
          628.6776627999999,
          83.52492180712221
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net interest income",
        "box": [
          86.8767,
          91.14911760000001,
          152.2189224,
          97.82592180712226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest income",
        "box": [
          94.215324,
          102.2285058,
          144.88978800000004,
          108.74634249707606
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$78.2",
        "box": [
          380.70634800000005,
          102.2285058,
          398.78008200000005,
          108.74634249707606
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$74.2",
        "box": [
          437.96026800000004,
          102.2285058,
          456.03400200000004,
          108.74634249707606
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$68.1",
        "box": [
          495.20628000000005,
          102.2285058,
          513.280014,
          108.74634249707606
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$71.8",
        "box": [
          552.4602000000001,
          102.2285058,
          570.533934,
          108.74634249707606
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$62.7",
        "box": [
          609.7141200000001,
          102.2285058,
          627.787854,
          108.74634249707606
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest expense",
        "box": [
          94.22323200000005,
          113.30789399999998,
          147.78727920000017,
          119.82573069707604
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "55.6",
        "box": [
          384.7394280000001,
          113.30789399999998,
          398.7879900000001,
          119.82573069707604
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "51.2",
        "box": [
          441.9933480000001,
          113.30789399999998,
          456.0419100000001,
          119.82573069707604
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "45.7",
        "box": [
          499.2393600000001,
          113.30789399999998,
          513.2879220000001,
          119.82573069707604
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "44.0",
        "box": [
          556.4932800000001,
          113.30789399999998,
          570.5418420000001,
          119.82573069707604
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "41.2",
        "box": [
          613.7472000000001,
          113.30789399999998,
          627.7949712000001,
          119.82573069707604
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net interest income",
        "box": [
          101.57767200000012,
          124.38728219999996,
          166.92068520000018,
          131.0640864071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$22.6",
        "box": [
          380.5323720000001,
          124.38728219999996,
          398.74449600000014,
          131.0640864071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$23.0",
        "box": [
          437.7862920000001,
          124.38728219999996,
          455.99841600000013,
          131.0640864071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$22.3",
        "box": [
          495.0402120000001,
          124.38728219999996,
          513.2523360000001,
          131.0640864071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$27.8",
        "box": [
          552.2941320000001,
          124.38728219999996,
          570.5062560000001,
          131.0640864071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$21.5",
        "box": [
          609.5480520000001,
          124.38728219999996,
          627.7601760000001,
          131.0640864071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Provision for (release of) loan loss reserves",
        "box": [
          94.24695600000007,
          136.65290039999996,
          231.56858520000003,
          143.17073709707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.1",
        "box": [
          388.7883240000001,
          136.65290039999996,
          398.8077600000002,
          143.17073709707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.0)",
        "box": [
          443.6223960000001,
          136.65290039999996,
          458.469666,
          143.17073709707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.0)",
        "box": [
          500.8763160000001,
          136.65290039999996,
          515.723586,
          143.17073709707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.0)",
        "box": [
          558.1302360000001,
          136.65290039999996,
          572.977506,
          143.17073709707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.0)",
        "box": [
          615.3841560000001,
          136.65290039999996,
          630.2314259999999,
          143.17073709707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net interest income after provision for (release of) loan losses",
        "box": [
          101.60139600000002,
          147.73228859999995,
          305.1106127999999,
          154.4090928071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$22.5",
        "box": [
          380.556096,
          147.73228859999995,
          398.76822000000004,
          154.4090928071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$23.0",
        "box": [
          437.810016,
          147.73228859999995,
          456.02214000000004,
          154.4090928071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$22.3",
        "box": [
          495.063936,
          147.73228859999995,
          513.27606,
          154.4090928071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$27.8",
        "box": [
          552.317856,
          147.73228859999995,
          570.52998,
          154.4090928071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$21.6",
        "box": [
          609.571776,
          147.73228859999995,
          627.7839,
          154.4090928071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other income",
        "box": [
          94.27067999999997,
          159.99790679999995,
          139.40084519999994,
          166.6747110071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real estate operating income",
        "box": [
          101.60930399999997,
          171.07729499999994,
          195.74929920000008,
          177.595131697076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "30.9",
        "box": [
          384.77896799999996,
          171.07729499999994,
          398.82752999999997,
          177.595131697076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27.3",
        "box": [
          442.03288799999996,
          171.07729499999994,
          456.08144999999996,
          177.595131697076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "25.1",
        "box": [
          499.28680799999995,
          171.07729499999994,
          513.3353699999999,
          177.595131697076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "26.7",
        "box": [
          556.540728,
          171.07729499999994,
          570.5892899999999,
          177.595131697076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "25.8",
        "box": [
          613.7946479999999,
          171.07729499999994,
          627.8432099999999,
          177.595131697076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net result from mortgage loan receivables held for sale",
        "box": [
          101.62511999999992,
          182.15668319999992,
          278.7785544000001,
          188.67451989707598
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.2",
        "box": [
          388.81995599999993,
          182.15668319999992,
          398.83939200000003,
          188.67451989707598
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.1",
        "box": [
          446.0738759999999,
          182.15668319999992,
          456.093312,
          188.67451989707598
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.0",
        "box": [
          503.3277959999999,
          182.15668319999992,
          513.347232,
          188.67451989707598
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.4)",
        "box": [
          558.1618679999999,
          182.15668319999992,
          573.0091379999998,
          188.67451989707598
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4.9",
        "box": [
          617.8277279999999,
          182.15668319999992,
          627.8471639999998,
          188.67451989707598
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          116.35772399999985,
          193.2360713999999,
          118.14493199999986,
          199.75390809707596
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          135.10996439999985,
          193.2360713999999,
          136.89717239999985,
          199.75390809707596
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          145.24011239999984,
          193.2360713999999,
          147.02732039999984,
          199.75390809707596
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          159.30369959999985,
          193.2360713999999,
          161.09090759999984,
          199.75390809707596
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          183.12259559999984,
          193.2360713999999,
          184.90980359999983,
          199.75390809707596
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          113.13916799999984,
          204.31545959999988,
          114.92637599999985,
          210.83329629707595
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          127.05724799999984,
          204.31545959999988,
          128.84445599999984,
          210.83329629707595
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          146.51962679999986,
          204.31545959999988,
          148.30683479999985,
          210.83329629707595
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          113.32895999999984,
          215.39484779999987,
          115.11616799999985,
          221.91268449707593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          133.50147719999984,
          215.39484779999987,
          135.28868519999983,
          221.91268449707593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          150.93070919999982,
          215.39484779999987,
          152.71791719999982,
          221.91268449707593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          184.64646719999982,
          215.39484779999987,
          186.4336751999998,
          221.91268449707593
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          129.00261599999985,
          226.47423599999985,
          130.78982399999984,
          232.9920726970759
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          147.75406559999985,
          226.47423599999985,
          149.54127359999984,
          232.9920726970759
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          165.18092519999985,
          226.47423599999985,
          166.96813319999984,
          232.9920726970759
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          203.20496159999985,
          226.47423599999985,
          204.99216959999984,
          232.9920726970759
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          210.97061759999985,
          226.47423599999985,
          212.75782559999985,
          232.9920726970759
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          262.3473119999999,
          226.47423599999985,
          264.1345199999999,
          232.9920726970759
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          116.2833,
          237.56801759999996,
          118.070508,
          244.08585429707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          126.413448,
          237.56801759999996,
          128.200656,
          244.08585429707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          178.1741,
          239.81262879999997,
          179.158669,
          243.40328247017544
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          185.7506,
          237.56801759999996,
          187.53780799999998,
          244.08585429707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          125.6593,
          248.6489176,
          127.44650800000001,
          255.32572180712225
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          145.500472,
          248.6489176,
          147.28768,
          255.32572180712225
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          104.3974,
          259.7298176,
          106.18460800000001,
          266.40662180712224
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          118.60016800000001,
          259.7298176,
          120.38737600000002,
          266.40662180712224
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          140.81374,
          270.8092058,
          142.600948,
          277.32704249707604
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          154.73182,
          270.8092058,
          156.519028,
          277.32704249707604
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          188.35268200000002,
          270.8092058,
          190.13989,
          277.32704249707604
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          126.468628,
          281.888594,
          128.255836,
          288.406430697076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          108.050896,
          292.9679822,
          109.838104,
          299.485818897076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          129.876976,
          292.9679822,
          131.664184,
          299.485818897076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          162.8351476,
          292.9679822,
          164.6223556,
          299.485818897076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          130.636144,
          304.0473704,
          132.423352,
          310.56520709707604
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          155.451448,
          304.0473704,
          157.238656,
          310.56520709707604
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          135.610276,
          315.1267586,
          137.397484,
          321.6445952970761
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          149.528356,
          315.1267586,
          151.315564,
          321.6445952970761
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          125.662012,
          326.20614680000006,
          127.44922000000001,
          332.8829510071223
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          144.12956440000002,
          326.20614680000006,
          145.9167724,
          332.8829510071223
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          158.3323324,
          326.20614680000006,
          160.1195404,
          332.8829510071223
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          111.269452,
          337.42788260000003,
          113.05666000000001,
          344.1046868071223
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          130.541248,
          337.42788260000003,
          132.328456,
          344.1046868071223
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          154.12369479999998,
          337.42788260000003,
          155.91090279999997,
          344.1046868071223
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          118.133596,
          348.60216920000005,
          119.920804,
          355.12000589707606
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          129.78208,
          348.60216920000005,
          131.569288,
          355.12000589707606
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          158.1939424,
          348.60216920000005,
          159.9811504,
          355.12000589707606
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          98.814352,
          359.68155740000003,
          100.60156,
          366.3583616071223
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          124.80794800000001,
          359.68155740000003,
          126.59515600000002,
          366.3583616071223
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          105.9129,
          370.3019176,
          107.700108,
          376.81975429707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          136.2661764,
          370.3019176,
          138.0533844,
          376.81975429707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          150.18821039999997,
          370.3019176,
          151.97541839999997,
          376.81975429707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          190.2967956,
          370.3019176,
          192.0840036,
          376.81975429707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          198.914934,
          370.3019176,
          200.70214199999998,
          376.81975429707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          247.78242,
          370.3019176,
          249.569628,
          376.81975429707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          274.53676559999997,
          370.3019176,
          276.3239736,
          376.81975429707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          282.3024216,
          370.3019176,
          284.0896296,
          376.81975429707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          325.3464564,
          370.3019176,
          327.13366440000004,
          376.81975429707603
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          98.8099,
          381.4775176,
          100.597108,
          388.15432180712224
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          124.80665920000001,
          381.4775176,
          126.59386720000002,
          388.15432180712224
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          144.079246,
          381.4775176,
          145.866454,
          388.15432180712224
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          185.3242108,
          381.4775176,
          187.1114188,
          388.15432180712224
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          194.1321412,
          381.4775176,
          195.9193492,
          388.15432180712224
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          212.2683484,
          381.4775176,
          214.0555564,
          388.15432180712224
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          218.8478044,
          381.4775176,
          220.6350124,
          388.15432180712224
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          249.627322,
          381.4775176,
          251.41452999999998,
          388.15432180712224
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          114.7677,
          393.50551759999996,
          116.55490800000001,
          400.1823218071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          127.60238400000001,
          393.50551759999996,
          129.38959200000002,
          400.1823218071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          399.408252,
          393.50551759999996,
          401.19546,
          400.023354297076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          456.662172,
          393.50551759999996,
          458.44938,
          400.023354297076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          513.916092,
          393.50551759999996,
          515.7033,
          400.023354297076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          571.170012,
          393.50551759999996,
          572.95722,
          400.023354297076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          628.423932,
          393.50551759999996,
          630.21114,
          400.023354297076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          118.95103200000005,
          427.6926662,
          120.73824000000006,
          434.3694704071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          146.74765200000007,
          427.6926662,
          148.53486000000007,
          434.3694704071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          169.80738000000008,
          427.6926662,
          171.59458800000007,
          434.3694704071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          211.14724080000008,
          427.6926662,
          212.93444880000007,
          434.3694704071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          129.779,
          463.0214176,
          131.566208,
          469.69822180712225
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          159.465632,
          463.0214176,
          161.25284,
          469.69822180712225
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          189.9177,
          465.2660288,
          190.902269,
          468.94425712107795
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          129.779,
          475.04941759999997,
          131.566208,
          481.7262218071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          143.372852,
          475.04941759999997,
          145.16006,
          481.7262218071222
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          178.6949,
          477.2940288,
          179.67946899999998,
          480.972257121078
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          128.5004,
          486.6038176,
          130.287608,
          493.121654297076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          141.9012968,
          486.6038176,
          143.6885048,
          493.121654297076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          159.3273656,
          486.6038176,
          161.1145736,
          493.121654297076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          167.945504,
          486.6038176,
          169.732712,
          493.121654297076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          202.8925376,
          486.6038176,
          204.6797456,
          493.121654297076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          211.27501759999998,
          486.6038176,
          213.06222559999998,
          493.121654297076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          245.51112199999997,
          486.6038176,
          247.29832999999996,
          493.121654297076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          256.63925959999995,
          486.6038176,
          258.42646759999997,
          493.121654297076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          277.095674,
          486.6038176,
          278.882882,
          493.121654297076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          298.0253,
          488.84842879999997,
          299.00986900000004,
          492.43908247017544
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "30",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          92.8434,
          65.9650206,
          94.5342868,
          71.975006154386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          100.0857824,
          65.9650206,
          101.7766692,
          71.975006154386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          126.93496988,
          65.9650206,
          128.62585668,
          71.975006154386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          148.433174,
          65.9650206,
          150.1240608,
          71.975006154386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          160.08158842,
          65.9650206,
          161.77247522,
          71.975006154386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          178.45464468,
          65.9650206,
          180.14553148,
          71.975006154386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          381.7934,
          66.03460719999998,
          383.58060800000004,
          72.7111581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          439.0435,
          66.03460719999998,
          440.830708,
          72.7111581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          496.2937,
          66.03460719999998,
          498.080908,
          72.7111581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          553.5438,
          66.03460719999998,
          555.331008,
          72.7111581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          610.7939,
          66.03460719999998,
          612.581108,
          72.7111581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          98.8099,
          80.33520720000001,
          100.597108,
          87.01175812050053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          126.22693600000001,
          80.33520720000001,
          128.01414400000002,
          87.01175812050053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          119.362792,
          91.41417510000002,
          121.15,
          97.93176454093572
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          119.362792,
          102.49314300000003,
          121.15,
          109.01073244093573
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          113.487148,
          113.57211090000004,
          115.27435600000001,
          120.24866182050056
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          140.90418400000001,
          113.57211090000004,
          142.691392,
          120.24866182050056
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          123.75964,
          125.83726380000002,
          125.54684800000001,
          132.3548532409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          134.88777760000002,
          125.83726380000002,
          136.6749856,
          132.3548532409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          162.30481360000002,
          125.83726380000002,
          164.0920216,
          132.3548532409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          173.09923360000002,
          125.83726380000002,
          174.8864416,
          132.3548532409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          188.82033760000002,
          125.83726380000002,
          190.6075456,
          132.3548532409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          202.7423716,
          125.83726380000002,
          204.5295796,
          132.3548532409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          113.487148,
          136.91623170000003,
          115.27435600000001,
          143.59278262050054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          140.9049748,
          136.91623170000003,
          142.69218279999998,
          143.59278262050054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          166.90173399999998,
          136.91623170000003,
          168.68894199999997,
          143.59278262050054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          184.61169999999996,
          136.91623170000003,
          186.39890799999995,
          143.59278262050054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          217.04873439999994,
          136.91623170000003,
          218.83594239999994,
          143.59278262050054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          228.41332119999993,
          136.91623170000003,
          230.20052919999992,
          143.59278262050054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          256.3989423999999,
          136.91623170000003,
          258.1861503999999,
          143.59278262050054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          267.43060239999994,
          136.91623170000003,
          269.21781039999996,
          143.59278262050054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          283.57794759999996,
          136.91623170000003,
          285.3651556,
          143.59278262050054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          113.34480400000001,
          149.1813846,
          115.13201200000002,
          155.85793552050052
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          115.37716,
          160.2603525,
          117.16436800000001,
          166.7779419409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          137.20324,
          160.2603525,
          138.990448,
          166.7779419409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          170.16141159999998,
          160.2603525,
          171.94861959999997,
          166.7779419409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          113.249908,
          171.33932040000002,
          115.03711600000001,
          177.8569098409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          133.42242520000002,
          171.33932040000002,
          135.2096332,
          177.8569098409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          150.84849400000002,
          171.33932040000002,
          152.635702,
          177.8569098409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          183.71176960000003,
          171.33932040000002,
          185.49897760000002,
          177.8569098409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          199.43287360000002,
          171.33932040000002,
          201.22008160000001,
          177.8569098409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          237.31535680000002,
          171.33932040000002,
          239.1025648,
          177.8569098409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          253.17880480000002,
          171.33932040000002,
          254.96601280000002,
          177.8569098409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          264.3053608,
          171.33932040000002,
          266.09256880000004,
          177.8569098409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          116.278672,
          182.41828830000003,
          118.06588,
          188.93587774093572
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          135.0309124,
          182.41828830000003,
          136.8181204,
          188.93587774093572
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          145.1610604,
          182.41828830000003,
          146.9482684,
          188.93587774093572
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          159.2254384,
          182.41828830000003,
          161.0126464,
          188.93587774093572
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          183.0435436,
          182.41828830000003,
          184.83075159999999,
          188.93587774093572
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fee and other income",
        "box": [
          101.553976,
          193.49725620000004,
          171.9770884000001,
          200.01484564093573
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.6",
        "box": [
          388.74881200000004,
          193.49725620000004,
          398.76824800000014,
          200.01484564093573
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.4",
        "box": [
          446.00273200000004,
          193.49725620000004,
          456.02216800000014,
          200.01484564093573
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.0",
        "box": [
          503.25665200000003,
          193.49725620000004,
          513.2760880000001,
          200.01484564093573
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.9",
        "box": [
          560.510572,
          193.49725620000004,
          570.530008,
          200.01484564093573
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.8",
        "box": [
          617.764492,
          193.49725620000004,
          627.783928,
          200.01484564093573
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net result from derivative transactions",
        "box": [
          101.5697919999999,
          204.57622410000005,
          225.83768560000007,
          211.09381354093574
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.2",
        "box": [
          388.7646279999999,
          204.57622410000005,
          398.784064,
          211.09381354093574
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.3",
        "box": [
          446.0185479999999,
          204.57622410000005,
          456.037984,
          211.09381354093574
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.0)",
        "box": [
          500.8526199999999,
          204.57622410000005,
          515.6998899999998,
          211.09381354093574
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.0",
        "box": [
          560.5184799999998,
          204.57622410000005,
          570.5379159999998,
          211.09381354093574
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.5",
        "box": [
          617.7723999999998,
          204.57622410000005,
          627.7918359999998,
          211.09381354093574
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Earnings (loss) from investment in unconsolidated ventures",
        "box": [
          101.57769999999971,
          215.65519200000006,
          292.3328943999995,
          222.17278144093575
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.3",
        "box": [
          388.7725359999997,
          215.65519200000006,
          398.7919719999998,
          222.17278144093575
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.3)",
        "box": [
          443.6066079999997,
          215.65519200000006,
          458.45387799999963,
          222.17278144093575
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.0",
        "box": [
          503.2724679999997,
          215.65519200000006,
          513.2919039999998,
          222.17278144093575
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.4)",
        "box": [
          558.1065399999998,
          215.65519200000006,
          572.9538099999996,
          222.17278144093575
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.3)",
        "box": [
          615.3604599999998,
          215.65519200000006,
          630.2077299999996,
          222.17278144093575
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Gain on extinguishment of debt",
        "box": [
          101.5564,
          226.7503072,
          202.4646772,
          233.2678966409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.1",
        "box": [
          388.754224,
          226.7503072,
          398.7736600000001,
          233.2678966409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          452.11312000000004,
          226.7503072,
          456.051304,
          233.2678966409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          509.36704000000003,
          226.7503072,
          513.3052240000001,
          233.2678966409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.1)",
        "box": [
          558.096136,
          226.7503072,
          572.9434059999999,
          233.2678966409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.0",
        "box": [
          617.761996,
          226.7503072,
          627.7814319999999,
          233.2678966409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total other income",
        "box": [
          108.8962,
          237.8309072,
          171.49750959999994,
          244.50745812050053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$35.2",
        "box": [
          380.51227600000004,
          237.8309072,
          398.72440000000006,
          244.50745812050053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$28.9",
        "box": [
          437.76619600000004,
          237.8309072,
          455.97832000000005,
          244.50745812050053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$28.1",
        "box": [
          495.02011600000003,
          237.8309072,
          513.23224,
          244.50745812050053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$29.7",
        "box": [
          552.274036,
          237.8309072,
          570.48616,
          244.50745812050053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$34.7",
        "box": [
          609.527956,
          237.8309072,
          627.74008,
          244.50745812050053
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Costs and expenses",
        "box": [
          86.888236,
          248.90987510000002,
          150.84181360000005,
          255.58642602050054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Compensation and employee benefits",
        "box": [
          94.22686,
          259.98884300000003,
          216.31293640000015,
          266.5064324409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12.3",
        "box": [
          384.743056,
          259.98884300000003,
          398.791618,
          266.5064324409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "22.3",
        "box": [
          441.996976,
          259.98884300000003,
          456.045538,
          266.5064324409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10.9",
        "box": [
          499.250896,
          259.98884300000003,
          513.299458,
          266.5064324409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11.6",
        "box": [
          556.504816,
          259.98884300000003,
          570.553378,
          266.5064324409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11.6",
        "box": [
          613.758736,
          259.98884300000003,
          627.8065071999999,
          266.5064324409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Operating expenses",
        "box": [
          94.24267600000007,
          271.06781090000004,
          158.00171680000017,
          277.58540034093573
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.1",
        "box": [
          388.7840440000001,
          271.06781090000004,
          398.8034800000002,
          277.58540034093573
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.1",
        "box": [
          446.0379640000001,
          271.06781090000004,
          456.0574000000002,
          277.58540034093573
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4.9",
        "box": [
          503.2918840000001,
          271.06781090000004,
          513.3113200000001,
          277.58540034093573
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.3",
        "box": [
          560.5458040000001,
          271.06781090000004,
          570.56524,
          277.58540034093573
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4.8",
        "box": [
          617.7997240000001,
          271.06781090000004,
          627.81916,
          277.58540034093573
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real estate operating expenses",
        "box": [
          94.25849200000016,
          282.14677880000005,
          194.38800640000045,
          288.66436824093574
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12.9",
        "box": [
          384.7746880000002,
          282.14677880000005,
          398.8232500000002,
          288.66436824093574
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11.3",
        "box": [
          442.0286080000002,
          282.14677880000005,
          456.0771700000002,
          288.66436824093574
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10.0",
        "box": [
          499.2825280000002,
          282.14677880000005,
          513.3310900000001,
          288.66436824093574
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11.4",
        "box": [
          556.5364480000002,
          282.14677880000005,
          570.5842192000001,
          288.66436824093574
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10.3",
        "box": [
          613.7824600000001,
          282.14677880000005,
          627.8310220000001,
          288.66436824093574
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investment related expenses",
        "box": [
          94.2664000000002,
          293.22574670000006,
          187.0019344000005,
          299.74333614093575
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.7",
        "box": [
          388.80776800000024,
          293.22574670000006,
          398.82720400000034,
          299.74333614093575
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.2",
        "box": [
          446.06168800000023,
          293.22574670000006,
          456.08112400000033,
          299.74333614093575
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.8",
        "box": [
          503.3156080000002,
          293.22574670000006,
          513.3350440000003,
          299.74333614093575
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.9",
        "box": [
          560.5695280000002,
          293.22574670000006,
          570.5889640000001,
          299.74333614093575
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.8",
        "box": [
          617.8234480000002,
          293.22574670000006,
          627.8428840000001,
          299.74333614093575
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Depreciation and amortization",
        "box": [
          94.28221600000029,
          304.30471460000007,
          192.51776440000037,
          310.82230404093576
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9.3",
        "box": [
          388.8235840000003,
          304.30471460000007,
          398.8430200000004,
          310.82230404093576
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.9",
        "box": [
          446.0775040000003,
          304.30471460000007,
          456.0969400000004,
          310.82230404093576
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.4",
        "box": [
          503.3314240000003,
          304.30471460000007,
          513.3508600000004,
          310.82230404093576
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.2",
        "box": [
          560.5853440000003,
          304.30471460000007,
          570.6047800000002,
          310.82230404093576
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.0",
        "box": [
          617.8392640000003,
          304.30471460000007,
          627.8587000000002,
          310.82230404093576
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total costs and expenses",
        "box": [
          108.98318800000033,
          315.3836825000001,
          190.6506856000004,
          322.0602334205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$41.3",
        "box": [
          380.59926400000035,
          315.3836825000001,
          398.81138800000036,
          322.0602334205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$48.7",
        "box": [
          437.85318400000034,
          315.3836825000001,
          456.06530800000036,
          322.0602334205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$34.9",
        "box": [
          495.10710400000033,
          315.3836825000001,
          513.3192280000003,
          322.0602334205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$37.3",
        "box": [
          552.3610240000004,
          315.3836825000001,
          570.5731480000004,
          322.0602334205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$35.5",
        "box": [
          609.6149440000004,
          315.3836825000001,
          627.8270680000004,
          322.0602334205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Income (loss) before taxes",
        "box": [
          86.97522400000037,
          326.60499260000006,
          173.42548000000042,
          333.2815435205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$16.3",
        "box": [
          380.6150800000004,
          326.60499260000006,
          398.8272040000004,
          333.2815435205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$3.2",
        "box": [
          441.8862640000004,
          326.60499260000006,
          456.0732160000004,
          333.2815435205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$15.5",
        "box": [
          495.1150120000004,
          326.60499260000006,
          513.3271360000003,
          333.2815435205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$20.1",
        "box": [
          552.3689320000004,
          326.60499260000006,
          570.5810560000004,
          333.2815435205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$20.8",
        "box": [
          609.6228520000004,
          326.60499260000006,
          627.8349760000004,
          333.2815435205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Income tax expense (benefit)",
        "box": [
          94.32175600000039,
          337.7788553000001,
          187.97145520000052,
          344.2964447409358
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.7",
        "box": [
          388.8631240000004,
          337.7788553000001,
          398.8825600000005,
          344.2964447409358
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.6",
        "box": [
          446.1170440000004,
          337.7788553000001,
          456.1364800000005,
          344.2964447409358
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.3)",
        "box": [
          500.9511160000004,
          337.7788553000001,
          515.7983860000003,
          344.2964447409358
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.0",
        "box": [
          560.6169760000004,
          337.7788553000001,
          570.6364120000003,
          344.2964447409358
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.7",
        "box": [
          617.8708960000004,
          337.7788553000001,
          627.8903320000003,
          344.2964447409358
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net income (loss)",
        "box": [
          86.99104000000034,
          348.8578232000001,
          144.20225680000036,
          355.5343741205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$14.6",
        "box": [
          380.63089600000035,
          348.8578232000001,
          398.84302000000037,
          355.5343741205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2.6",
        "box": [
          441.90208000000035,
          348.8578232000001,
          456.0890320000004,
          355.5343741205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$15.9",
        "box": [
          495.13082800000035,
          348.8578232000001,
          513.3429520000003,
          355.5343741205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$19.2",
        "box": [
          552.3847480000004,
          348.8578232000001,
          570.5968720000004,
          355.5343741205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$17.1",
        "box": [
          609.6386680000004,
          348.8578232000001,
          627.8507920000004,
          355.5343741205006
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net (income) loss attributable to noncontrolling interest in consolidated ventures",
        "box": [
          94.2167,
          359.48040719999995,
          355.37365520000003,
          365.99799664093564
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.0",
        "box": [
          388.75806800000004,
          359.48040719999995,
          398.77750400000014,
          365.99799664093564
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.0",
        "box": [
          446.01198800000003,
          359.48040719999995,
          456.03142400000013,
          365.99799664093564
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.0",
        "box": [
          503.265908,
          359.48040719999995,
          513.2853440000001,
          365.99799664093564
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.0",
        "box": [
          560.5198280000001,
          359.48040719999995,
          570.539264,
          365.99799664093564
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.2",
        "box": [
          617.7737480000001,
          359.48040719999995,
          627.793184,
          365.99799664093564
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net income (loss) attributable to Class A common shareholders",
        "box": [
          86.8769,
          370.65560719999996,
          294.1677223999995,
          377.3321581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$14.6",
        "box": [
          380.516756,
          370.65560719999996,
          398.72888,
          377.3321581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2.6",
        "box": [
          441.78794,
          370.65560719999996,
          455.974892,
          377.3321581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$15.9",
        "box": [
          495.016688,
          370.65560719999996,
          513.228812,
          377.3321581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$19.2",
        "box": [
          552.270608,
          370.65560719999996,
          570.482732,
          377.3321581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$17.3",
        "box": [
          609.524528,
          370.65560719999996,
          627.736652,
          377.3321581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Earnings per share:",
        "box": [
          86.88480800000002,
          382.6835231,
          149.67828200000008,
          389.3600740205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          399.41687600000006,
          382.6835231,
          401.2040840000001,
          389.2011125409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          456.67079600000005,
          382.6835231,
          458.4580040000001,
          389.2011125409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          513.9247160000001,
          382.6835231,
          515.7119240000001,
          389.2011125409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          571.1786360000001,
          382.6835231,
          572.9658440000001,
          389.2011125409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          628.4325560000001,
          382.6835231,
          630.219764,
          389.2011125409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Basic",
        "box": [
          94.23924800000009,
          393.762491,
          110.55266120000007,
          400.2800804409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.12",
        "box": [
          380.7302720000001,
          393.762491,
          398.80400600000013,
          400.2800804409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.02",
        "box": [
          437.9841920000001,
          393.762491,
          456.0579260000001,
          400.2800804409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.13",
        "box": [
          495.2381120000001,
          393.762491,
          513.3118460000001,
          400.2800804409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.15",
        "box": [
          552.4920320000001,
          393.762491,
          570.565766,
          400.2800804409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.14",
        "box": [
          609.7459520000001,
          393.762491,
          627.819686,
          400.2800804409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diluted",
        "box": [
          94.25506400000006,
          404.8414589,
          117.62794880000006,
          411.3590483409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.12",
        "box": [
          384.7712600000001,
          404.8414589,
          398.8198220000001,
          411.3590483409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.02",
        "box": [
          442.0251800000001,
          404.8414589,
          456.0737420000001,
          411.3590483409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.13",
        "box": [
          499.2791000000001,
          404.8414589,
          513.327662,
          411.3590483409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.15",
        "box": [
          556.5330200000001,
          404.8414589,
          570.581582,
          411.3590483409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.14",
        "box": [
          613.7869400000001,
          404.8414589,
          627.835502,
          411.3590483409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Weighted average shares outstanding (mm):",
        "box": [
          86.93225600000005,
          416.86937480000006,
          232.97008280000017,
          423.5459257205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Basic",
        "box": [
          94.27088000000005,
          427.9483427,
          110.58429320000003,
          434.4659321409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "124.7",
        "box": [
          380.7619040000001,
          427.9483427,
          398.83484720000007,
          434.4659321409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "125.4",
        "box": [
          438.01582400000007,
          427.9483427,
          456.08876720000006,
          434.4659321409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "125.2",
        "box": [
          495.26974400000006,
          427.9483427,
          513.343478,
          434.4659321409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "125.3",
        "box": [
          552.523664,
          427.9483427,
          570.597398,
          434.4659321409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "125.8",
        "box": [
          609.777584,
          427.9483427,
          627.8521088,
          434.4659321409357
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diluted",
        "box": [
          94.286696,
          439.0273106,
          117.6595808,
          445.54490004093566
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "125.2",
        "box": [
          380.77772000000004,
          439.0273106,
          398.85066320000004,
          445.54490004093566
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "126.0",
        "box": [
          438.03164000000004,
          439.0273106,
          456.10537400000004,
          445.54490004093566
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "126.2",
        "box": [
          495.28556000000003,
          439.0273106,
          513.359294,
          445.54490004093566
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "126.1",
        "box": [
          552.53948,
          439.0273106,
          570.613214,
          445.54490004093566
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "126.2",
        "box": [
          609.7934,
          439.0273106,
          627.867134,
          445.54490004093566
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings (pre-tax) ",
        "box": [
          86.8769,
          452.1973072,
          190.902269,
          458.8738581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          190.9122,
          450.0201384,
          193.5531123,
          454.41786958460057
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$30.8",
        "box": [
          380.5148,
          451.9605072,
          398.726924,
          458.63705812050046
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$28.0",
        "box": [
          437.76872,
          451.9605072,
          455.980844,
          458.63705812050046
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$21.4",
        "box": [
          495.02263999999997,
          451.9605072,
          513.2347639999999,
          458.63705812050046
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$32.1",
        "box": [
          552.27656,
          451.9605072,
          570.488684,
          458.63705812050046
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$30.9",
        "box": [
          609.53048,
          451.9605072,
          627.742604,
          458.63705812050046
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable EPS (after-tax) ",
        "box": [
          86.8769,
          464.2249072,
          179.679569,
          470.9014581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          179.6894,
          462.0478384,
          182.3303123,
          466.44556958460055
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.24",
        "box": [
          380.5148,
          463.98820720000003,
          398.726924,
          470.6647581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.22",
        "box": [
          437.76872,
          463.98820720000003,
          455.980844,
          470.6647581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.17",
        "box": [
          495.02263999999997,
          463.98820720000003,
          513.2347639999999,
          470.6647581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.25",
        "box": [
          552.27656,
          463.98820720000003,
          570.488684,
          470.6647581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.23",
        "box": [
          609.53048,
          463.98820720000003,
          627.742604,
          470.6647581205005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable EPS prior to charge-off of allowance for credit losses ",
        "box": [
          86.8769,
          475.7790072,
          299.00986900000004,
          482.29659664093566
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          299.01858200000004,
          474.756117,
          301.22732750000006,
          478.346688251462
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.24",
        "box": [
          380.7043,
          475.7790072,
          398.778034,
          482.29659664093566
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.22",
        "box": [
          437.95822,
          475.7790072,
          456.031954,
          482.29659664093566
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.21",
        "box": [
          495.21214,
          475.7790072,
          513.2858739999999,
          482.29659664093566
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.25",
        "box": [
          552.46606,
          475.7790072,
          570.5397939999999,
          482.29659664093566
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.23",
        "box": [
          609.71998,
          475.7790072,
          627.7937139999999,
          482.29659664093566
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 31,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "1.  For a description of these non-GAAP financial measures, see Selected Definitions on page 34",
        "box": [
          24.9607,
          509.21452,
          313.68212800000003,
          515.2873221052631
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "EARNINGS RECONCILIATIONS BY QUARTER",
        "box": [
          10.0,
          17.554280000000063,
          700.6016319999998,
          41.128668513650155
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in millions, except per share values)",
        "box": [
          82.4315,
          85.55377919999995,
          204.83181679999979,
          91.96203132631575
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2026",
        "box": [
          351.9526,
          87.54661279999999,
          381.11973119999993,
          94.6657398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2026",
        "box": [
          412.9962,
          87.54661279999999,
          442.1633311999999,
          94.6657398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q4 2025",
        "box": [
          474.0399,
          87.54651280000002,
          503.2070311999999,
          94.66563987757462
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q3 2025",
        "box": [
          535.0834,
          87.54651280000002,
          564.2505312000004,
          94.66563987757462
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2025",
        "box": [
          596.1271,
          87.54641279999998,
          625.2942312000005,
          94.66553987757459
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net income (loss)",
        "box": [
          82.5326,
          104.51151279999999,
          143.53474720000003,
          111.6306398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$14.6",
        "box": [
          360.687416,
          104.46092019999998,
          380.1063119999999,
          111.58004727757458
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2.6",
        "box": [
          426.02698399999997,
          104.46092019999998,
          441.1539919999999,
          111.58004727757458
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$15.9",
        "box": [
          482.78277599999996,
          104.46092019999998,
          502.20167199999986,
          111.58004727757458
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$19.2",
        "box": [
          543.8304559999999,
          104.46092019999998,
          563.2493520000003,
          111.58004727757458
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$17.1",
        "box": [
          604.8781359999999,
          104.46092019999998,
          624.2970320000003,
          111.58004727757458
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Income tax expense (benefit)",
        "box": [
          82.54946399999994,
          118.9557001,
          182.4045807999999,
          125.90532843684213
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.7",
        "box": [
          369.49042399999996,
          118.90510749999999,
          380.1737679999999,
          125.85473583684211
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.6",
        "box": [
          430.538104,
          118.90510749999999,
          441.2214479999999,
          125.85473583684211
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.3)",
        "box": [
          489.005592,
          118.90510749999999,
          504.8366719999999,
          125.85473583684211
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.0",
        "box": [
          552.625032,
          118.90510749999999,
          563.3083760000002,
          125.85473583684211
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.7",
        "box": [
          613.672712,
          118.90510749999999,
          624.3560560000002,
          125.85473583684211
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Income (loss) before taxes",
        "box": [
          90.382792,
          131.0220352,
          180.47533920000004,
          137.97166353684213
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$16.3",
        "box": [
          360.91508000000005,
          130.9714426,
          380.18557279999993,
          137.9210709368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$3.2",
        "box": [
          426.25464800000003,
          130.9714426,
          441.23409599999997,
          137.9210709368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$15.5",
        "box": [
          483.01044,
          130.9714426,
          502.2809327999999,
          137.9210709368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$20.1",
        "box": [
          544.05812,
          130.9714426,
          563.3294560000004,
          137.9210709368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$20.8",
        "box": [
          605.1058,
          130.9714426,
          624.3771360000004,
          137.9210709368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.0",
        "box": [
          369.51572,
          154.85114979999997,
          380.1990639999999,
          161.8007781368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.0",
        "box": [
          430.5634,
          154.85114979999997,
          441.2467439999999,
          161.8007781368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.0",
        "box": [
          491.61108,
          154.85114979999997,
          502.29442399999994,
          161.8007781368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.0",
        "box": [
          552.65876,
          154.85114979999997,
          563.3421040000002,
          161.8007781368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.2",
        "box": [
          613.70644,
          154.85114979999997,
          624.3897840000002,
          161.8007781368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Our share of real estate depreciation, amortization and sale adjustments",
        "box": [
          82.59162400000002,
          172.47423879999997,
          331.4039232000001,
          179.4238671368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10.4",
        "box": [
          365.24069600000007,
          172.42364619999995,
          380.220144,
          179.37327453684208
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.7",
        "box": [
          430.5718320000001,
          172.42364619999995,
          441.255176,
          179.37327453684208
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.9",
        "box": [
          491.6195120000001,
          172.42364619999995,
          502.302856,
          179.37327453684208
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.1",
        "box": [
          552.6671920000001,
          172.42364619999995,
          563.3505360000003,
          179.37327453684208
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.8",
        "box": [
          613.7148720000001,
          172.42364619999995,
          624.3982160000003,
          179.37327453684208
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Adjustments for derivative results and loan sale activity",
        "box": [
          82.60005600000011,
          184.54057389999997,
          272.1581616000001,
          191.4902022368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.4",
        "box": [
          369.5410160000001,
          184.48998129999995,
          380.22436000000005,
          191.43960963684208
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.1",
        "box": [
          430.58869600000014,
          184.48998129999995,
          441.27204000000006,
          191.43960963684208
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.0",
        "box": [
          491.63637600000015,
          184.48998129999995,
          502.3197200000001,
          191.43960963684208
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.6",
        "box": [
          552.6840560000002,
          184.48998129999995,
          563.3674000000003,
          191.43960963684208
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.7)",
        "box": [
          611.1515440000002,
          184.48998129999995,
          626.9826240000004,
          191.43960963684208
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unrealized (gain) loss on securities",
        "box": [
          82.6084880000002,
          196.60690899999997,
          201.00557280000018,
          203.5565373368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.1)",
        "box": [
          366.9776880000002,
          196.55631639999996,
          382.80876800000016,
          203.50594473684208
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.9",
        "box": [
          430.5971280000002,
          196.55631639999996,
          441.28047200000015,
          203.50594473684208
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.1)",
        "box": [
          489.0646160000002,
          196.55631639999996,
          504.89569600000016,
          203.50594473684208
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.2",
        "box": [
          552.6840560000003,
          196.55631639999996,
          563.3674000000004,
          203.50594473684208
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.1)",
        "box": [
          611.1515440000003,
          196.55631639999996,
          626.9826240000006,
          203.50594473684208
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Adjustment for impairment",
        "box": [
          82.6084880000003,
          208.67324409999998,
          176.61179680000035,
          215.6228724368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.1",
        "box": [
          369.5494480000003,
          208.62265149999996,
          380.23279200000025,
          215.57227983684209
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.0)",
        "box": [
          428.0169360000003,
          208.62265149999996,
          443.84801600000026,
          215.57227983684209
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.0)",
        "box": [
          489.06461600000034,
          208.62265149999996,
          504.89569600000027,
          215.57227983684209
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.0)",
        "box": [
          550.1122960000004,
          208.62265149999996,
          565.9433760000006,
          215.57227983684209
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.0)",
        "box": [
          611.1599760000004,
          208.62265149999996,
          626.9910560000006,
          215.57227983684209
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Non-cash stock-based compensation",
        "box": [
          82.61692000000039,
          220.73957919999998,
          208.4189872000004,
          227.6892075368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.7",
        "box": [
          369.5578800000004,
          220.68898659999996,
          380.24122400000033,
          227.6386149368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14.2",
        "box": [
          426.3136720000004,
          220.68898659999996,
          441.29312000000033,
          227.6386149368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.1",
        "box": [
          491.6448080000004,
          220.68898659999996,
          502.32815200000033,
          227.6386149368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.0",
        "box": [
          552.6924880000004,
          220.68898659999996,
          563.3758320000005,
          227.6386149368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.0",
        "box": [
          613.7401680000004,
          220.68898659999996,
          624.4235120000005,
          227.6386149368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable earnings prior to charge-off of allowance for credit losses",
        "box": [
          90.45024800000033,
          232.80591429999998,
          332.44190240000046,
          239.7555426368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$30.8",
        "box": [
          360.9825360000004,
          232.75532169999997,
          380.25302880000027,
          239.7049500368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$28.0",
        "box": [
          422.0302160000004,
          232.75532169999997,
          441.3015520000003,
          239.7049500368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$26.4",
        "box": [
          483.0778960000004,
          232.75532169999997,
          502.3492320000003,
          239.7049500368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$32.1",
        "box": [
          544.1255760000004,
          232.75532169999997,
          563.3969120000007,
          239.7049500368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$30.9",
        "box": [
          605.1732560000004,
          232.75532169999997,
          624.4445920000007,
          239.7049500368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Charge-off of allowance for credit losses",
        "box": [
          82.64221600000042,
          251.13729969999997,
          220.3435216000004,
          258.0869280368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          376.0926800000004,
          251.08670709999996,
          380.29181600000044,
          258.0363354368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          437.14036000000044,
          251.08670709999996,
          441.33949600000045,
          258.0363354368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(5.0)",
        "box": [
          489.09834400000045,
          251.08670709999996,
          504.9294240000004,
          258.0363354368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          559.2272880000005,
          251.08670709999996,
          563.4264240000005,
          258.0363354368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          620.2749680000005,
          251.08670709999996,
          624.4741040000005,
          258.0363354368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable earnings ",
        "box": [
          90.3586,
          262.7518128,
          168.96261520000002,
          269.8709398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          168.9731,
          261.6612336,
          171.32821639999997,
          265.58312365120304
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$30.8",
        "box": [
          360.6876,
          263.1556128,
          380.1064959999999,
          270.2747398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$28.0",
        "box": [
          421.73528,
          263.1556128,
          441.1541759999999,
          270.2747398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$21.4",
        "box": [
          482.78296,
          263.1556128,
          502.2018559999999,
          270.2747398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$32.1",
        "box": [
          543.83064,
          263.1556128,
          563.2495360000004,
          270.2747398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$30.9",
        "box": [
          604.87832,
          263.1556128,
          624.2972160000004,
          270.2747398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Estimated corporate tax (expense) benefit",
        "box": [
          82.5325,
          281.5346128,
          227.0283112000002,
          288.4842411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1.0)",
        "box": [
          366.8979,
          281.4840128,
          382.7289799999999,
          288.4336411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.7)",
        "box": [
          427.9415,
          281.4841128,
          443.77257999999995,
          288.43374113684206
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.5)",
        "box": [
          488.98918000000003,
          281.4841128,
          504.82025999999996,
          288.43374113684206
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.9)",
        "box": [
          550.03686,
          281.4841128,
          565.8679400000003,
          288.43374113684206
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(2.0)",
        "box": [
          611.0845400000001,
          281.4841128,
          626.9156200000003,
          288.43374113684206
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "After-tax distributable earnings",
        "box": [
          90.37481200000002,
          293.60104049999995,
          197.56576879999997,
          300.5506688368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$29.8",
        "box": [
          360.90710000000007,
          293.5504479,
          380.17759279999996,
          300.5000762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$27.3",
        "box": [
          421.9547800000001,
          293.5504479,
          441.226116,
          300.5000762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$21.0",
        "box": [
          483.0024600000001,
          293.5504479,
          502.273796,
          300.5000762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$31.2",
        "box": [
          544.05014,
          293.5504479,
          563.3214760000004,
          300.5000762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$28.9",
        "box": [
          605.0978200000001,
          293.5504479,
          624.3691560000004,
          300.5000762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Weighted average diluted shares outstanding  (mm)",
        "box": [
          82.5325,
          311.321748,
          260.66641181,
          318.60426552046783
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "125.2",
        "box": [
          360.8894,
          311.8799128,
          380.1598927999999,
          318.82954113684207
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "126.0",
        "box": [
          421.93708000000004,
          311.8799128,
          441.20841599999994,
          318.82954113684207
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "126.2",
        "box": [
          482.98476000000005,
          311.8799128,
          502.25609599999996,
          318.82954113684207
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "126.1",
        "box": [
          544.0324400000001,
          311.8799128,
          563.3037760000004,
          318.82954113684207
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "126.2",
        "box": [
          605.0801200000001,
          311.8799128,
          624.3514560000004,
          318.82954113684207
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable EPS ",
        "box": [
          90.3586,
          323.5434128,
          151.64421520000002,
          330.6625398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          151.6547,
          322.45283359999996,
          154.00981639999998,
          326.3747236512031
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.24",
        "box": [
          360.6875,
          323.94731279999996,
          380.1063959999999,
          331.06643987757457
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.22",
        "box": [
          421.73518,
          323.94731279999996,
          441.1540759999999,
          331.06643987757457
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.17",
        "box": [
          482.78286,
          323.94731279999996,
          502.20175599999993,
          331.06643987757457
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.25",
        "box": [
          543.83054,
          323.94731279999996,
          563.2494360000004,
          331.06643987757457
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.23",
        "box": [
          604.87822,
          323.94731279999996,
          624.2971160000004,
          331.06643987757457
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Per share impact of charge-off of allowance for credit losses",
        "box": [
          82.5325,
          342.3262128,
          287.8879576000001,
          349.27584113684213
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          375.9863,
          342.2757128,
          380.18543600000004,
          349.2253411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          437.0299,
          342.2757128,
          441.229036,
          349.2253411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.04",
        "box": [
          487.267756,
          342.2757128,
          502.24720399999995,
          349.2253411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          559.116828,
          342.2757128,
          563.315964,
          349.2253411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          620.1645080000001,
          342.2757128,
          624.363644,
          349.2253411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable EPS prior to charge-off of allowance for credit losses",
        "box": [
          90.36508400000002,
          354.39264049999997,
          315.49864080000015,
          361.3422688368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.24",
        "box": [
          360.8973720000001,
          354.3420479,
          380.168708,
          361.29167623684214
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.22",
        "box": [
          421.9450520000001,
          354.3420479,
          441.216388,
          361.29167623684214
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.21",
        "box": [
          482.9927320000001,
          354.3420479,
          502.264068,
          361.29167623684214
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.25",
        "box": [
          544.0404120000001,
          354.3420479,
          563.3117480000004,
          361.29167623684214
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.23",
        "box": [
          605.0880920000001,
          354.3420479,
          624.3594280000004,
          361.29167623684214
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12 Months Ended",
        "box": [
          269.9552,
          382.2649128,
          331.643712,
          389.3840398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "06/30/2026",
        "box": [
          280.2553,
          394.8373128,
          321.84361039999976,
          401.9564398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable earnings",
        "box": [
          82.5325,
          410.2371128,
          158.08659279999998,
          417.1867411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$112.3",
        "box": [
          289.3437,
          410.2371128,
          312.9069239999999,
          417.1867411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$30.8",
        "box": [
          360.88922,
          410.2371128,
          380.16055599999993,
          417.1867411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$28.0",
        "box": [
          421.93690000000004,
          410.2371128,
          441.20823599999994,
          417.1867411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$21.4",
        "box": [
          482.98458000000005,
          410.2371128,
          502.25591599999996,
          417.1867411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$32.1",
        "box": [
          544.0322600000001,
          410.2371128,
          563.3035960000004,
          417.1867411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$30.9",
        "box": [
          605.0799400000001,
          410.2371128,
          624.3512760000004,
          417.1867411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Average shareholders' equity",
        "box": [
          82.54890000000012,
          422.3034479,
          182.4647272000002,
          429.2530762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,473.2",
        "box": [
          287.2357000000001,
          422.3034479,
          312.919572,
          429.2530762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,438.2",
        "box": [
          354.4893320000001,
          422.3034479,
          380.173204,
          429.2530762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,465.5",
        "box": [
          415.5370120000001,
          422.3034479,
          441.220884,
          429.2530762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,490.0",
        "box": [
          476.58469200000013,
          422.3034479,
          502.268564,
          429.2530762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,499.3",
        "box": [
          537.6323720000001,
          422.3034479,
          563.3162440000006,
          429.2530762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,509.6",
        "box": [
          598.6800520000002,
          422.3034479,
          624.3639240000006,
          429.2530762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Pre-tax Distributable ROAE  1",
        "box": [
          90.3586,
          432.8270336,
          188.2427164,
          441.0367398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.6%",
        "box": [
          295.8571,
          434.3720128,
          312.85601199999996,
          441.4911398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.6%",
        "box": [
          363.110732,
          434.3720128,
          380.10964399999995,
          441.4911398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.6%",
        "box": [
          424.158412,
          434.3720128,
          441.15732399999996,
          441.4911398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.7%",
        "box": [
          485.206092,
          434.3720128,
          502.205004,
          441.4911398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.6%",
        "box": [
          546.253772,
          434.3720128,
          563.2526840000003,
          441.4911398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.2%",
        "box": [
          607.301452,
          434.3720128,
          624.3003640000003,
          441.4911398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "After-tax distributable earnings",
        "box": [
          82.5325,
          450.9332128,
          189.72345679999992,
          457.8828411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$109.3",
        "box": [
          289.3437,
          450.9332128,
          312.9069239999999,
          457.8828411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$29.8",
        "box": [
          360.8894,
          450.9332128,
          380.1598927999999,
          457.8828411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$27.3",
        "box": [
          421.93708000000004,
          450.9332128,
          441.2075727999999,
          457.8828411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$21.0",
        "box": [
          482.98476000000005,
          450.9332128,
          502.25609599999996,
          457.8828411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$31.2",
        "box": [
          544.0324400000001,
          450.9332128,
          563.3037760000004,
          457.8828411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$28.9",
        "box": [
          605.0801200000001,
          450.9332128,
          624.3514560000004,
          457.8828411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Average shareholders' equity",
        "box": [
          82.54908000000012,
          462.9995479,
          182.4649072000002,
          469.9491762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,473.2",
        "box": [
          287.2358800000001,
          462.9995479,
          312.919752,
          469.9491762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,438.2",
        "box": [
          354.4895120000001,
          462.9995479,
          380.173384,
          469.9491762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,465.5",
        "box": [
          415.5371920000001,
          462.9995479,
          441.221064,
          469.9491762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,490.0",
        "box": [
          476.58487200000013,
          462.9995479,
          502.268744,
          469.9491762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,499.3",
        "box": [
          537.6325520000001,
          462.9995479,
          563.3164240000006,
          469.9491762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,509.6",
        "box": [
          598.6802320000002,
          462.9995479,
          624.3641040000006,
          469.9491762368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "After-tax Distributable ROAE  1",
        "box": [
          90.3586,
          473.5231336,
          194.4531164,
          481.7328398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.4%",
        "box": [
          295.8571,
          475.0681128,
          312.85601199999996,
          482.1872398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.3%",
        "box": [
          363.110732,
          475.0681128,
          380.10964399999995,
          482.1872398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.5%",
        "box": [
          424.158412,
          475.0681128,
          441.15732399999996,
          482.1872398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.6%",
        "box": [
          485.206092,
          475.0681128,
          502.205004,
          482.1872398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.3%",
        "box": [
          546.253772,
          475.0681128,
          563.2526840000003,
          482.1872398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.7%",
        "box": [
          607.301452,
          475.0681128,
          624.3003640000003,
          482.1872398775746
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net (income) loss attributable to noncontrolling interest in consolidated ",
        "box": [
          82.5325,
          149.29761280000002,
          330.8759800000002,
          156.24724113684215
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "    ventures (GAAP) ",
        "box": [
          82.5325,
          160.40561279999997,
          148.71779759999995,
          167.3552411368421
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "31",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 32,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "1.  For a description of these non-GAAP financial measures, see Selected Definitions on page 34",
        "box": [
          24.3607,
          501.21452,
          313.082128,
          507.2873221052632
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.  For a description of this financial measure, see Selected Definitions on page 34",
        "box": [
          24.36345999999999,
          509.2508,
          271.6782760000004,
          515.3273221052632
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "BALANCE SHEET BY QUARTER",
        "box": [
          10.0,
          16.943719999999985,
          520.7872599999996,
          42.256312275025266
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in millions, except per share values)",
        "box": [
          72.4428,
          99.3241668,
          194.5807515000001,
          105.71860249824562
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "06/30/2026",
        "box": [
          331.0074,
          99.65017839999996,
          372.50643758000007,
          106.75385499364774
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "03/31/2026",
        "box": [
          398.1677,
          99.65007839999998,
          439.6667375800001,
          106.75375499364776
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12/31/2025",
        "box": [
          465.3279,
          99.65007839999998,
          506.82693758000005,
          106.75375499364776
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "09/30/2025",
        "box": [
          532.4883,
          99.64997839999995,
          573.9873375799999,
          106.75365499364773
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "06/30/2025",
        "box": [
          599.6485,
          99.64987839999998,
          641.14753758,
          106.75355499364775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Assets",
        "box": [
          72.5435,
          116.67887839999997,
          94.89165978999998,
          123.78255499364775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cash and cash equivalents",
        "box": [
          72.5435,
          127.76337839999997,
          162.15153499999985,
          134.6979241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$37.6",
        "box": [
          349.2430154,
          128.4196548,
          368.47214246,
          135.35420051228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$33.1",
        "box": [
          416.4027652,
          128.4196548,
          435.63273365,
          135.35420051228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$38.0",
        "box": [
          483.56251499999996,
          128.4196548,
          502.79248344999996,
          135.35420051228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$49.4",
        "box": [
          550.7222648,
          128.4196548,
          569.95223325,
          135.35420051228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$134.9",
        "box": [
          613.5993394999999,
          128.4196548,
          637.1119830499999,
          135.35420051228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Restricted cash",
        "box": [
          72.5435,
          138.39397839999998,
          124.46988385000006,
          145.32852411228072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16.8",
        "box": [
          353.5256905,
          139.0502548,
          368.47298385,
          145.98480051228074
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18.5",
        "box": [
          420.6854403,
          139.0502548,
          435.63273365,
          145.98480051228074
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14.9",
        "box": [
          487.84519009999997,
          139.0502548,
          502.79248344999996,
          145.98480051228074
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13.5",
        "box": [
          555.0049399,
          139.0502548,
          569.95223325,
          145.98480051228074
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13.4",
        "box": [
          622.1646896999999,
          139.0502548,
          637.1119830499999,
          145.98480051228074
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mortgage loan receivables held for investment, net, at amortized cost",
        "box": [
          72.5435,
          149.0245784,
          311.35354091999983,
          155.95912411228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,743.0",
        "box": [
          342.8484514,
          149.68085480000002,
          368.47719079999996,
          156.61540051228076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,559.3",
        "box": [
          410.0082012,
          149.68085480000002,
          435.63694059999995,
          156.61540051228076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,170.2",
        "box": [
          477.16795099999996,
          149.68085480000002,
          502.79669039999993,
          156.61540051228076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,868.5",
        "box": [
          544.3277008,
          149.68085480000002,
          569.9564402,
          156.61540051228076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,541.5",
        "box": [
          611.4874506,
          149.68085480000002,
          637.11619,
          156.61540051228076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mortgage loan receivables held for sale",
        "box": [
          72.5435,
          159.65517839999995,
          207.18104501999994,
          166.5897241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27.2",
        "box": [
          353.5256905,
          160.31145479999998,
          368.47298385,
          167.24600051228072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27.6",
        "box": [
          420.6854403,
          160.31145479999998,
          435.63273365,
          167.24600051228072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "28.0",
        "box": [
          487.84519009999997,
          160.31145479999998,
          502.79248344999996,
          167.24600051228072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "28.0",
        "box": [
          555.0049399,
          160.31145479999998,
          569.95223325,
          167.24600051228072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "28.3",
        "box": [
          622.1646896999999,
          160.31145479999998,
          637.1119830499999,
          167.24600051228072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Securities",
        "box": [
          72.5435,
          170.2858784,
          105.66734152000004,
          177.22042411228074
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,872.4",
        "box": [
          342.8484514,
          170.94215480000003,
          368.47719079999996,
          177.87670051228076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,073.7",
        "box": [
          410.0082012,
          170.94215480000003,
          435.63694059999995,
          177.87670051228076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,088.3",
        "box": [
          477.16795099999996,
          170.94215480000003,
          502.79669039999993,
          177.87670051228076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,940.5",
        "box": [
          544.3277008,
          170.94215480000003,
          569.9564402,
          177.87670051228076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,966.5",
        "box": [
          611.4874506,
          170.94215480000003,
          637.11619,
          177.87670051228076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real estate and related lease intangibles, net",
        "box": [
          72.5435,
          180.91647839999996,
          225.92805561000014,
          187.8510241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "776.5",
        "box": [
          349.2430154,
          181.57275479999998,
          368.47298385,
          188.50730051228072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "775.7",
        "box": [
          416.4027652,
          181.57275479999998,
          435.63273365,
          188.50730051228072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "703.5",
        "box": [
          483.56251499999996,
          181.57275479999998,
          502.79248344999996,
          188.50730051228072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "705.5",
        "box": [
          550.7222648,
          181.57275479999998,
          569.95223325,
          188.50730051228072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "690.2",
        "box": [
          617.8820145999999,
          181.57275479999998,
          637.1111416599999,
          188.50730051228072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investments in and advances to unconsolidated ventures",
        "box": [
          72.5435,
          191.54707839999998,
          267.0905371899996,
          198.4816241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "41.5",
        "box": [
          353.5256905,
          192.2033548,
          368.47298385,
          199.13790051228074
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "44.2",
        "box": [
          420.6854403,
          192.2033548,
          435.63273365,
          199.13790051228074
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "44.5",
        "box": [
          487.84519009999997,
          192.2033548,
          502.79248344999996,
          199.13790051228074
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18.5",
        "box": [
          555.0049399,
          192.2033548,
          569.95223325,
          199.13790051228074
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18.9",
        "box": [
          622.1646896999999,
          192.2033548,
          637.1119830499999,
          199.13790051228074
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Derivative instruments",
        "box": [
          72.5435,
          202.1776784,
          150.38385446,
          209.11222411228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.1",
        "box": [
          357.8083656,
          202.83395480000001,
          368.4687769,
          209.76850051228075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.4",
        "box": [
          424.9681154,
          202.83395480000001,
          435.6285267,
          209.76850051228075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.3",
        "box": [
          492.1278652,
          202.83395480000001,
          502.7882765,
          209.76850051228075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.3",
        "box": [
          559.287615,
          202.83395480000001,
          569.9480262999999,
          209.76850051228075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.2",
        "box": [
          626.4473648,
          202.83395480000001,
          637.1077760999999,
          209.76850051228075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accrued interest receivable",
        "box": [
          72.5435,
          212.80837839999998,
          166.0690468400001,
          219.74292411228072
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17.0",
        "box": [
          353.5256905,
          213.4646548,
          368.47298385,
          220.39920051228074
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17.8",
        "box": [
          420.6854403,
          213.4646548,
          435.63273365,
          220.39920051228074
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "15.9",
        "box": [
          487.84519009999997,
          213.4646548,
          502.79248344999996,
          220.39920051228074
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14.5",
        "box": [
          555.0049399,
          213.4646548,
          569.95223325,
          220.39920051228074
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13.3",
        "box": [
          622.1646896999999,
          213.4646548,
          637.1119830499999,
          220.39920051228074
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other assets",
        "box": [
          72.5435,
          224.0938784,
          115.28358783000007,
          231.02842411228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "74.1",
        "box": [
          353.5256905,
          224.0938784,
          368.47298385,
          231.02842411228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "56.4",
        "box": [
          420.6854403,
          224.0938784,
          435.63273365,
          231.02842411228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "49.0",
        "box": [
          487.84519009999997,
          224.0938784,
          502.79248344999996,
          231.02842411228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "47.9",
        "box": [
          555.0049399,
          224.0938784,
          569.95223325,
          231.02842411228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "50.2",
        "box": [
          622.1646896999999,
          224.0938784,
          637.1119830499999,
          231.02842411228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total assets",
        "box": [
          80.3529,
          233.66647839999996,
          121.5002365599999,
          240.77015499364774
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$5,606.3",
        "box": [
          338.31466009999997,
          234.92854839999995,
          368.42295986,
          242.03222499364773
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$5,606.7",
        "box": [
          405.47440989999996,
          234.92854839999995,
          435.58270966,
          242.03222499364773
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$5,152.5",
        "box": [
          472.63415969999994,
          234.92854839999995,
          502.74245945999996,
          242.03222499364773
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,686.5",
        "box": [
          539.7939094999999,
          234.92854839999995,
          569.9022092599998,
          242.03222499364773
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,457.5",
        "box": [
          606.9536592999999,
          234.92854839999995,
          637.0619590599998,
          242.03222499364773
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Liabilities",
        "box": [
          72.5435,
          253.16437839999998,
          105.62695480000001,
          260.26805499364775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Debt obligations, net",
        "box": [
          72.5435,
          264.24847839999995,
          144.13737509999996,
          271.1830241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,004.9",
        "box": [
          338.5657763,
          264.9047548,
          368.47719079999996,
          271.8393005122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,027.6",
        "box": [
          405.72552609999997,
          264.9047548,
          435.63694059999995,
          271.8393005122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$3,510.4",
        "box": [
          472.88527589999995,
          264.9047548,
          502.79669039999993,
          271.8393005122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2,997.2",
        "box": [
          540.0450257,
          264.9047548,
          569.9564402,
          271.8393005122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2,783.2",
        "box": [
          607.2047755,
          264.9047548,
          637.11619,
          271.8393005122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dividends payable",
        "box": [
          72.5435,
          274.87907839999997,
          134.88292649,
          281.8136241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "31.1",
        "box": [
          353.5256905,
          275.5353548,
          368.47298385,
          282.46990051228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "30.6",
        "box": [
          420.6854403,
          275.5353548,
          435.63273365,
          282.46990051228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "31.8",
        "box": [
          487.84519009999997,
          275.5353548,
          502.79248344999996,
          282.46990051228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "31.4",
        "box": [
          555.0049399,
          275.5353548,
          569.95223325,
          282.46990051228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "30.9",
        "box": [
          622.1646896999999,
          275.5353548,
          637.1119830499999,
          282.46990051228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accrued expenses",
        "box": [
          72.5435,
          285.5097784,
          134.07603348000004,
          292.4443241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "64.4",
        "box": [
          353.5256905,
          286.1660548,
          368.47298385,
          293.1006005122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "45.1",
        "box": [
          420.6854403,
          286.1660548,
          435.63273365,
          293.1006005122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "76.4",
        "box": [
          487.84519009999997,
          286.1660548,
          502.79248344999996,
          293.1006005122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "55.4",
        "box": [
          555.0049399,
          286.1660548,
          569.95223325,
          293.1006005122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "55.3",
        "box": [
          622.1646896999999,
          286.1660548,
          637.1119830499999,
          293.1006005122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other liabilities",
        "box": [
          72.5435,
          296.14037840000003,
          124.64321018999996,
          303.07492411228066
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "79.2",
        "box": [
          353.5256905,
          296.7966548,
          368.47298385,
          303.7312005122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "58.8",
        "box": [
          420.6854403,
          296.7966548,
          435.63273365,
          303.7312005122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "52.5",
        "box": [
          487.84519009999997,
          296.7966548,
          502.79248344999996,
          303.7312005122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "109.1",
        "box": [
          550.7222648,
          296.7966548,
          569.95139186,
          303.7312005122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "88.0",
        "box": [
          622.1646896999999,
          296.7966548,
          637.1119830499999,
          303.7312005122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total liabilities",
        "box": [
          80.3529,
          307.1740784,
          131.67264166000004,
          314.2777549936477
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,179.6",
        "box": [
          338.31466009999997,
          307.6284236,
          368.42295986,
          314.73210019364774
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,162.1",
        "box": [
          405.47440989999996,
          307.6284236,
          435.58270966,
          314.73210019364774
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$3,671.2",
        "box": [
          472.63415969999994,
          307.6284236,
          502.74245945999996,
          314.73210019364774
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$3,193.1",
        "box": [
          539.7939094999999,
          307.6284236,
          569.9022092599998,
          314.73210019364774
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2,957.4",
        "box": [
          606.9536592999999,
          307.6284236,
          637.0619590599998,
          314.73210019364774
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Equity",
        "box": [
          72.5435,
          324.3543784,
          94.67037422,
          331.4580549936477
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total shareholders' equity",
        "box": [
          80.3529,
          335.8414784,
          171.75898542999988,
          342.94515499364775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,429.3",
        "box": [
          338.31466009999997,
          336.2958236,
          368.42295986,
          343.3995001936477
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,447.1",
        "box": [
          405.47440989999996,
          336.2958236,
          435.58270966,
          343.3995001936477
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,483.9",
        "box": [
          472.63415969999994,
          336.2958236,
          502.74245945999996,
          343.3995001936477
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,496.0",
        "box": [
          539.7939094999999,
          336.2958236,
          569.9022092599998,
          343.3995001936477
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,502.6",
        "box": [
          606.9536592999999,
          336.2958236,
          637.0619590599998,
          343.3995001936477
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Noncontrolling interest in consolidated ventures",
        "box": [
          80.3529,
          348.6888784,
          245.92919670999953,
          355.6234241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(2.6)",
        "box": [
          355.24342690000003,
          349.34515480000005,
          371.04052415,
          356.27970051228067
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(2.6)",
        "box": [
          422.4031767,
          349.34515480000005,
          438.20027395,
          356.27970051228067
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(2.6)",
        "box": [
          489.5629265,
          349.34515480000005,
          505.36002375,
          356.27970051228067
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(2.6)",
        "box": [
          556.7226763,
          349.34515480000005,
          572.5197735499999,
          356.27970051228067
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(2.5)",
        "box": [
          623.8824261,
          349.34515480000005,
          639.6795233499998,
          356.27970051228067
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total equity",
        "box": [
          88.1622,
          359.82327840000005,
          130.19131328,
          366.92695499364777
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,426.7",
        "box": [
          338.3158609,
          360.22714080000003,
          368.42416066000004,
          367.33081739364775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,444.5",
        "box": [
          405.4756107,
          360.22714080000003,
          435.58391046,
          367.33081739364775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,481.4",
        "box": [
          472.6353605,
          360.22714080000003,
          502.74366026,
          367.33081739364775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,493.4",
        "box": [
          539.7951103,
          360.22714080000003,
          569.9034100599999,
          367.33081739364775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,500.1",
        "box": [
          606.9548601,
          360.22714080000003,
          637.0631598599999,
          367.33081739364775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total liabilities and equity",
        "box": [
          88.1622,
          371.5119784,
          178.80430331000002,
          378.6156549936477
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$5,606.3",
        "box": [
          338.3158609,
          372.72356560000003,
          368.42416066000004,
          379.82724219364775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$5,606.7",
        "box": [
          405.4756107,
          372.72356560000003,
          435.58391046,
          379.82724219364775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$5,152.5",
        "box": [
          472.6353605,
          372.72356560000003,
          502.74366026,
          379.82724219364775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,686.5",
        "box": [
          539.7951103,
          372.72356560000003,
          569.9034100599999,
          379.82724219364775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,457.5",
        "box": [
          606.9548601,
          372.72356560000003,
          637.0631598599999,
          379.82724219364775
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Leverage Ratio",
        "box": [
          72.5435,
          390.6067784,
          142.21984729000005,
          397.5413241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.8x",
        "box": [
          354.1819747,
          390.6067784,
          368.50663944999997,
          397.5413241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.8x",
        "box": [
          421.3417245,
          390.6067784,
          435.66638924999995,
          397.5413241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.4x",
        "box": [
          488.5014743,
          390.6067784,
          502.82613904999994,
          397.5413241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.0x",
        "box": [
          555.6612241,
          390.6067784,
          569.98588885,
          397.5413241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.9x",
        "box": [
          622.8209739,
          390.6067784,
          637.14563865,
          397.5413241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Adjusted Leverage Ratio  1",
        "box": [
          72.5435,
          402.4162536,
          158.830072,
          410.4391241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.3x",
        "box": [
          354.1834,
          403.45417840000005,
          368.50806474999996,
          410.38872411228067
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.3x",
        "box": [
          421.3431498,
          403.45417840000005,
          435.66781454999995,
          410.38872411228067
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.0x",
        "box": [
          488.5028996,
          403.45417840000005,
          502.82756434999993,
          410.38872411228067
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.7x",
        "box": [
          555.6626494,
          403.45417840000005,
          569.98731415,
          410.38872411228067
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.6x",
        "box": [
          622.8223992,
          403.45417840000005,
          637.14706395,
          410.38872411228067
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Shares Outstanding (mm)",
        "box": [
          72.5435,
          416.9565784,
          178.98270055999987,
          423.8911241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "126.9",
        "box": [
          349.2430154,
          416.9565784,
          368.47214246,
          423.8911241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "127.7",
        "box": [
          416.4027652,
          416.9565784,
          435.63189226,
          423.8911241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "127.2",
        "box": [
          483.56251499999996,
          416.9565784,
          502.79164205999996,
          423.8911241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "127.3",
        "box": [
          550.7222648,
          416.9565784,
          569.95223325,
          423.8911241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "127.5",
        "box": [
          617.8820145999999,
          416.9565784,
          637.1111416599999,
          423.8911241122807
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP Book Value per Share  2",
        "box": [
          72.5435,
          429.9752536,
          172.987672,
          438.16725499364776
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$11.27",
        "box": [
          344.7619,
          431.0635784,
          368.42178680000006,
          438.16725499364776
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$11.33",
        "box": [
          411.9216498,
          431.0635784,
          435.58153660000005,
          438.16725499364776
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$11.66",
        "box": [
          479.0813996,
          431.0635784,
          502.74128640000004,
          438.16725499364776
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$11.75",
        "box": [
          546.2411494,
          431.0635784,
          569.9010362,
          438.16725499364776
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$11.79",
        "box": [
          613.4008992,
          431.0635784,
          637.060786,
          438.16725499364776
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Undepreciated Book Value per Share  1",
        "box": [
          72.5435,
          443.3265536,
          204.930372,
          451.51855499364774
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.44",
        "box": [
          344.7619,
          444.4148784,
          368.42178680000006,
          451.51855499364774
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.42",
        "box": [
          411.9216498,
          444.4148784,
          435.58153660000005,
          451.51855499364774
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.69",
        "box": [
          479.0813996,
          444.4148784,
          502.74128640000004,
          451.51855499364774
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.71",
        "box": [
          546.2411494,
          444.4148784,
          569.9010362,
          451.51855499364774
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.68",
        "box": [
          613.4008992,
          444.4148784,
          637.060786,
          451.51855499364774
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributions per LADR Share",
        "box": [
          72.5435,
          458.5218784,
          171.26967842999989,
          465.45642411228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.23",
        "box": [
          349.2430154,
          458.5218784,
          368.47298385,
          465.45642411228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.23",
        "box": [
          416.4027652,
          458.5218784,
          435.63273365,
          465.45642411228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.23",
        "box": [
          483.56251499999996,
          458.5218784,
          502.79248344999996,
          465.45642411228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.23",
        "box": [
          550.7222648,
          458.5218784,
          569.95223325,
          465.45642411228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$0.23",
        "box": [
          617.8820145999999,
          458.5218784,
          637.1119830499999,
          465.45642411228073
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "32",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 33,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "1.  For a description of this financial measure, see Selected Definitions on page 34",
        "box": [
          24.3607,
          501.21452,
          271.6782760000004,
          507.2873221052632
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.  For a description of these non-GAAP financial measures, see Selected Definitions on page 34",
        "box": [
          24.363459999999996,
          509.2508,
          313.082128,
          515.3273221052632
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "BOOK EQUITY & ADJUSTED LEVERAGE BY QUARTER",
        "box": [
          10.0,
          18.095360000000028,
          709.2246879999997,
          40.25745795753289
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "33",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in millions, except per share values)",
        "box": [
          53.1045,
          71.26571000000001,
          168.63882429999995,
          77.31441368421054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "06/30/2026",
        "box": [
          373.5142,
          75.0531752,
          412.7695798,
          81.77278484619825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "03/31/2026",
        "box": [
          437.0433,
          75.0531752,
          476.29867979999995,
          81.77278484619825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12/31/2025",
        "box": [
          500.5723,
          75.0531752,
          539.8276798000004,
          81.77278484619825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "09/30/2025",
        "box": [
          564.1013,
          75.0531752,
          603.3566798000006,
          81.77278484619825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "06/30/2025",
        "box": [
          627.6304,
          75.0531752,
          666.8857798000006,
          81.77278484619825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Beginning book equity balance",
        "box": [
          53.1997,
          90.44677520000005,
          154.86478239999994,
          97.1663848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,444.5",
        "box": [
          380.426026,
          90.44677520000005,
          408.90651159999993,
          97.1663848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,481.4",
        "box": [
          443.95476399999995,
          90.44677520000005,
          472.4352495999999,
          97.1663848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,493.4",
        "box": [
          507.48350199999993,
          90.44677520000005,
          535.9647835000003,
          97.1663848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,500.1",
        "box": [
          571.0122399999999,
          90.44677520000005,
          599.4927256000002,
          97.1663848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,514.4",
        "box": [
          634.5409779999999,
          90.44677520000005,
          663.0214636000002,
          97.1663848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net income (loss) attributable to Class A common shareholders",
        "box": [
          60.587,
          101.36037520000002,
          264.58572079999976,
          107.9199981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14.6",
        "box": [
          394.8176,
          101.3604752,
          408.9567635,
          107.92009818479528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.6",
        "box": [
          462.3976,
          101.3604752,
          472.481653,
          107.92009818479528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "15.9",
        "box": [
          521.875207,
          101.3604752,
          536.0143705000003,
          107.92009818479528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "19.2",
        "box": [
          585.403945,
          101.3604752,
          599.5431085000002,
          107.92009818479528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17.3",
        "box": [
          648.932683,
          101.3604752,
          663.0718465000002,
          107.92009818479528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dividends ",
        "box": [
          60.587,
          111.84517520000003,
          94.12940960000002,
          118.40479818479531
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(29.2)",
        "box": [
          392.387,
          111.79757520000004,
          411.38115350000004,
          118.35719818479532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(29.3)",
        "box": [
          455.9161,
          111.79757520000004,
          474.9102535,
          118.35719818479532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(29.3)",
        "box": [
          519.444838,
          111.79757520000004,
          538.4389915000003,
          118.35719818479532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(29.3)",
        "box": [
          582.973576,
          111.79757520000004,
          601.9677295000002,
          118.35719818479532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(29.3)",
        "box": [
          646.502314,
          111.79757520000004,
          665.4964675000002,
          118.35719818479532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Changes in other comprehensive income  (OCI)",
        "box": [
          60.587,
          122.18429360000005,
          212.14399350999997,
          129.05817913918133
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.2",
        "box": [
          398.8685,
          122.23467520000003,
          408.95255299999997,
          128.7942981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1.7)",
        "box": [
          459.969743,
          122.23467520000003,
          474.91276550000003,
          128.7942981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.8)",
        "box": [
          523.498481,
          122.23467520000003,
          538.4415035000002,
          128.7942981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.3",
        "box": [
          589.454714,
          122.23467520000003,
          599.5387669999999,
          128.7942981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.6",
        "box": [
          652.9834519999999,
          122.23467520000003,
          663.0675049999999,
          128.7942981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other",
        "box": [
          60.587,
          132.67187520000004,
          79.473707,
          139.23149818479533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(4.5)",
        "box": [
          396.438,
          132.67187520000004,
          411.38102250000003,
          139.23149818479533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(8.4)",
        "box": [
          459.9671,
          132.67187520000004,
          474.91012250000006,
          139.23149818479533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.1",
        "box": [
          525.923333,
          132.67187520000004,
          536.0073859999999,
          139.23149818479533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.1",
        "box": [
          589.4520709999999,
          132.67187520000004,
          599.5361239999999,
          139.23149818479533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3.9)",
        "box": [
          650.5533139999999,
          132.67187520000004,
          665.4963365000001,
          139.23149818479533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Ending book equity balance  (Total equity)",
        "box": [
          67.9741,
          143.5855752,
          206.47369479999995,
          150.30518484619824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,426.7",
        "box": [
          380.42400699999996,
          143.5855752,
          408.9044925999999,
          150.30518484619824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,444.5",
        "box": [
          443.95274499999994,
          143.5855752,
          472.4332305999999,
          150.30518484619824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,481.4",
        "box": [
          507.4814829999999,
          143.5855752,
          535.9619686000002,
          150.30518484619824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,493.4",
        "box": [
          571.0102209999999,
          143.5855752,
          599.4907066000002,
          150.30518484619824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,500.1",
        "box": [
          634.5389589999999,
          143.5855752,
          663.0194446000002,
          150.30518484619824
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Noncontrolling interest in consolidated ventures",
        "box": [
          60.587,
          157.54947520000002,
          217.21136509999977,
          164.1090981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.6",
        "box": [
          398.8686,
          157.54947520000002,
          408.952653,
          164.1090981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.6",
        "box": [
          462.3977,
          157.54957520000005,
          472.48175299999997,
          164.10919818479533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.6",
        "box": [
          525.926438,
          157.54957520000005,
          536.0104909999999,
          164.10919818479533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.6",
        "box": [
          589.4551759999999,
          157.54957520000005,
          599.5392289999999,
          164.10919818479533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.5",
        "box": [
          652.9839139999999,
          157.54957520000005,
          663.0679669999998,
          164.10919818479533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total shareholders' equity",
        "box": [
          67.9741,
          168.46317520000002,
          154.43828829999998,
          175.18278484619827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,429.3",
        "box": [
          380.4247,
          168.46317520000002,
          408.9051855999999,
          175.18278484619827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,447.1",
        "box": [
          443.9538,
          168.46317520000002,
          472.43428559999995,
          175.18278484619827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,483.9",
        "box": [
          507.482538,
          168.46317520000002,
          535.9630236000003,
          175.18278484619827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,496.0",
        "box": [
          571.011276,
          168.46317520000002,
          599.4917616000002,
          175.18278484619827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,502.6",
        "box": [
          634.5400139999999,
          168.46317520000002,
          663.0204996000002,
          175.18278484619827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Average book equity balance excluding noncontrolling interest in consolidated ventures",
        "box": [
          67.97063999999989,
          182.33553790000002,
          358.5776069999996,
          189.05514754619827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,438.2",
        "box": [
          380.4171029999999,
          182.33553790000002,
          408.89758859999984,
          189.05514754619827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,465.5",
        "box": [
          443.94584099999986,
          182.33553790000002,
          472.4263265999998,
          189.05514754619827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,490.0",
        "box": [
          507.47457899999984,
          182.33553790000002,
          535.9550646000001,
          189.05514754619827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,499.3",
        "box": [
          571.0033169999998,
          182.33553790000002,
          599.4838026000001,
          189.05514754619827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,509.6",
        "box": [
          634.5320549999998,
          182.33553790000002,
          663.0125406000001,
          189.05514754619827
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accumulated depreciation & amortization - net leased commercial real estate",
        "box": [
          60.587,
          197.86827520000003,
          313.12757009999996,
          204.4278981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "203.5",
        "box": [
          390.76841099999996,
          197.86827520000003,
          408.95790959999994,
          204.4278981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "198.8",
        "box": [
          454.29714899999993,
          197.86827520000003,
          472.4874434999999,
          204.4278981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "194.1",
        "box": [
          517.825887,
          197.86827520000003,
          536.0161815000002,
          204.4278981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "189.5",
        "box": [
          581.3546249999999,
          197.86827520000003,
          599.5449195000002,
          204.4278981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "184.9",
        "box": [
          644.8833629999999,
          197.86827520000003,
          663.0736575000002,
          204.4278981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accumulated depreciation & amortization - diversified commercial real estate",
        "box": [
          60.587,
          208.30547520000005,
          313.2684444,
          214.86509818479533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "77.8",
        "box": [
          394.81954199999996,
          208.30547520000005,
          408.95870549999995,
          214.86509818479533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "72.9",
        "box": [
          458.34827999999993,
          208.30547520000005,
          472.4874434999999,
          214.86509818479533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "68.6",
        "box": [
          521.8770179999999,
          208.30547520000005,
          536.0161815000001,
          214.86509818479533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "64.6",
        "box": [
          585.4057559999999,
          208.30547520000005,
          599.5441236,
          214.86509818479533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "60.9",
        "box": [
          648.9344939999999,
          208.30547520000005,
          663.0736575000001,
          214.86509818479533
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Less:  noncontrolling interests' share of accumulated real estate depreciation & amortization",
        "box": [
          60.5869,
          218.7902752,
          352.5577562400004,
          225.34989818479528
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(5.4)",
        "box": [
          396.438,
          218.74257520000003,
          411.38102250000003,
          225.30219818479532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(5.3)",
        "box": [
          459.96673799999996,
          218.74257520000003,
          474.9097605,
          225.30219818479532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(5.1)",
        "box": [
          523.4954759999999,
          218.74257520000003,
          538.4384985000002,
          225.30219818479532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(5.0)",
        "box": [
          587.0242139999999,
          218.74257520000003,
          601.9672365000001,
          225.30219818479532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(4.9)",
        "box": [
          650.5529519999999,
          218.74257520000003,
          665.4959745000001,
          225.30219818479532
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accumulated real estate depreciation & amortization - our share",
        "box": [
          67.9741,
          229.65627520000004,
          282.87509349999993,
          236.37598484619826
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$275.8",
        "box": [
          386.52913,
          229.65627520000004,
          408.909838,
          236.3758848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$266.5",
        "box": [
          450.057868,
          229.65627520000004,
          472.43857599999996,
          236.3758848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$257.5",
        "box": [
          513.586606,
          229.65627520000004,
          535.9673140000002,
          236.3758848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$249.1",
        "box": [
          577.1153439999999,
          229.65627520000004,
          599.4960520000002,
          236.3758848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$240.9",
        "box": [
          640.6440819999999,
          229.65627520000004,
          663.0247900000002,
          236.3758848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Undepreciated book value",
        "box": [
          67.978114,
          243.52863790000004,
          155.3432611,
          250.2482475461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,705.2",
        "box": [
          380.424577,
          243.52863790000004,
          408.90506259999995,
          250.2482475461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,713.6",
        "box": [
          443.953315,
          243.52863790000004,
          472.4338005999999,
          250.2482475461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,741.5",
        "box": [
          507.48205299999995,
          243.52863790000004,
          535.9625386000002,
          250.2482475461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,745.1",
        "box": [
          571.0107909999999,
          243.52863790000004,
          599.4912766000002,
          250.2482475461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,743.5",
        "box": [
          634.5395289999999,
          243.52863790000004,
          663.0200146000002,
          250.2482475461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total shares outstanding (mm)",
        "box": [
          60.587,
          259.4400936,
          162.6934402,
          266.48163054244463
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "126.9",
        "box": [
          390.576,
          259.53807520000004,
          408.905577,
          266.2576848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "127.7",
        "box": [
          454.104738,
          259.53807520000004,
          472.43431499999997,
          266.2576848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "127.2",
        "box": [
          517.633476,
          259.53807520000004,
          535.9630530000002,
          266.2576848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "127.3",
        "box": [
          581.162214,
          259.53807520000004,
          599.4917910000001,
          266.2576848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "127.5",
        "box": [
          644.6909519999999,
          259.53807520000004,
          663.0205290000001,
          266.2576848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          60.587,
          279.63757200000003,
          60.856279,
          280.64354203272376
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP Book Value per Share ",
        "box": [
          60.8729,
          275.3605752,
          153.65451960000001,
          282.0801848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          153.6645,
          272.67266800000004,
          156.4915827,
          277.3804220096247
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$11.27",
        "box": [
          386.525,
          275.1699752,
          408.90570799999995,
          281.88958484619826
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$11.33",
        "box": [
          450.05373799999995,
          275.1699752,
          472.4344459999999,
          281.88958484619826
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$11.66",
        "box": [
          513.5824759999999,
          275.1699752,
          535.9631840000002,
          281.88958484619826
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$11.75",
        "box": [
          577.1112139999999,
          275.1699752,
          599.4919220000002,
          281.88958484619826
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$11.79",
        "box": [
          640.6399519999999,
          275.1699752,
          663.0206600000001,
          281.88958484619826
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          60.587,
          292.171672,
          60.856279,
          293.1776420327238
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Undepreciated Book Value per Share ",
        "box": [
          60.8729,
          287.8946752,
          183.8702196,
          294.6142848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          183.8801,
          285.206768,
          186.7071827,
          289.91452200962465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.44",
        "box": [
          386.525,
          287.70407520000003,
          408.90570799999995,
          294.4236848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.42",
        "box": [
          450.05373799999995,
          287.70407520000003,
          472.4344459999999,
          294.4236848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.69",
        "box": [
          513.5824759999999,
          287.70407520000003,
          535.9631840000002,
          294.4236848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.71",
        "box": [
          577.1112139999999,
          287.70407520000003,
          599.4919220000002,
          294.4236848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$13.68",
        "box": [
          640.6399519999999,
          287.70407520000003,
          663.0206600000001,
          294.4236848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Debt obligations GAAP reconciliation",
        "box": [
          60.587,
          304.33677520000003,
          179.61225320000003,
          310.8963981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan repurchase facilities",
        "box": [
          60.587,
          316.6325752,
          142.67851369999997,
          323.1921981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$107.2",
        "box": [
          386.7156,
          317.0614752,
          408.9570255,
          323.6210981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          468.5456,
          317.0614752,
          472.50918199999995,
          323.6210981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          532.074338,
          317.0614752,
          536.03792,
          323.6210981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          595.603076,
          317.0614752,
          599.566658,
          323.6210981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$62.7",
        "box": [
          644.8852039999999,
          317.0614752,
          663.0754985000002,
          323.6210981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Securities repurchase financing",
        "box": [
          60.587,
          327.0697752,
          161.419571,
          333.6293981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "825.9",
        "box": [
          390.7666,
          327.4986752,
          408.95609859999996,
          334.0582981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "934.9",
        "box": [
          454.2957,
          327.4986752,
          472.4851986,
          334.0582981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "627.0",
        "box": [
          517.824438,
          327.4986752,
          536.0147325000003,
          334.0582981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "361.6",
        "box": [
          581.353176,
          327.4986752,
          599.5442664000002,
          334.0582981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "294.4",
        "box": [
          644.8819139999999,
          327.4986752,
          663.0722085000002,
          334.0582981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Revolving credit facility (unsecured)",
        "box": [
          60.587,
          337.60217520000003,
          176.13894559999991,
          344.1617981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "202.0",
        "box": [
          390.7666,
          337.9834752,
          408.95609859999996,
          344.5430981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "492.0",
        "box": [
          454.2957,
          337.9834752,
          472.4851986,
          344.5430981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "280.0",
        "box": [
          517.824438,
          337.9834752,
          536.0147325000003,
          344.5430981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20.0",
        "box": [
          585.404307,
          337.9834752,
          599.5434705000002,
          344.5430981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          659.128524,
          337.9834752,
          663.092106,
          344.5430981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Term loan (unsecured)",
        "box": [
          60.587,
          348.1346752,
          133.9156547,
          354.69429818479534
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "275.0",
        "box": [
          390.7666,
          348.5158752,
          408.95609859999996,
          355.0754981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          468.5456,
          348.5158752,
          472.50918199999995,
          355.0754981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          532.074338,
          348.5158752,
          536.03792,
          355.0754981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          595.603076,
          348.5158752,
          599.566658,
          355.0754981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          659.131814,
          348.5158752,
          663.0953959999999,
          355.0754981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mortgage debt, net of unamortized debt issuance costs",
        "box": [
          60.587,
          358.6671752,
          239.7385186999999,
          365.22679818479537
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "387.5",
        "box": [
          390.7666,
          359.0483752,
          408.95609859999996,
          365.6079981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "384.2",
        "box": [
          454.2957,
          359.0483752,
          472.4851986,
          365.6079981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "388.2",
        "box": [
          517.824438,
          359.0483752,
          536.0147325000003,
          365.6079981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "401.7",
        "box": [
          581.353176,
          359.0483752,
          599.5442664000002,
          365.6079981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "421.9",
        "box": [
          644.8819139999999,
          359.0483752,
          663.0722085000002,
          365.6079981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          73.4548,
          369.10427519999996,
          75.253534,
          375.66389818479536
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          92.2802227,
          369.10427519999996,
          94.07895669999999,
          375.66389818479536
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          104.9095639,
          369.10427519999996,
          106.70829789999999,
          375.66389818479536
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          113.34610389999999,
          369.10427519999996,
          115.14483789999998,
          375.66389818479536
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          156.42976269999997,
          369.10427519999996,
          158.22849669999997,
          375.66389818479536
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          173.25270099999997,
          369.10427519999996,
          175.05143499999997,
          375.66389818479536
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          202.61106429999998,
          369.10427519999996,
          204.40979829999998,
          375.66389818479536
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          81.1755,
          379.5414752,
          82.974234,
          386.1010981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          116.91936899999999,
          379.5414752,
          118.71810299999999,
          386.1010981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          138.84243449999997,
          379.5414752,
          140.64116849999996,
          386.1010981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          151.47177569999997,
          379.5414752,
          153.27050969999996,
          386.1010981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          159.90831569999997,
          379.5414752,
          161.70704969999997,
          386.1010981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          202.99197449999997,
          379.5414752,
          204.79070849999997,
          386.1010981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          219.8157087,
          379.5414752,
          221.61444269999998,
          386.1010981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          249.1732761,
          379.5414752,
          250.9720101,
          386.1010981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          84.0351,
          390.9317752,
          85.833834,
          397.6513848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          124.54641,
          390.9317752,
          126.34514399999999,
          397.6513848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          76.219,
          405.9917752,
          78.01773399999999,
          412.55139818479535
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          90.89539599999999,
          405.9917752,
          92.69412999999999,
          412.55139818479535
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          97.6655,
          417.38207520000003,
          99.46423399999999,
          424.1016848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          114.82510399999998,
          417.38207520000003,
          116.62383799999998,
          424.1016848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          76.9339,
          430.86937520000004,
          78.73263399999999,
          437.4289981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  ",
        "box": [
          75.9331,
          442.1425864,
          78.613885,
          447.05251641637426
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          121.1612,
          440.8775752,
          122.95993399999999,
          447.4371981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          163.9113767,
          440.8775752,
          165.7101107,
          447.4371981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          177.9192167,
          440.8775752,
          179.7179507,
          447.4371981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          221.14613749999998,
          440.8775752,
          222.94487149999998,
          447.4371981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          231.34480009999996,
          440.8775752,
          233.14353409999995,
          447.4371981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          245.49988159999995,
          440.8775752,
          247.29861559999995,
          447.4371981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          267.4707011,
          440.8775752,
          269.2694351,
          447.4371981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          281.47854110000003,
          440.8775752,
          283.27727510000005,
          447.4371981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          306.45229130000007,
          440.8775752,
          308.2510253000001,
          447.4371981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  ",
        "box": [
          76.219,
          452.5796864,
          78.899785,
          457.48961641637425
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          121.4471,
          451.3147752,
          123.245834,
          457.8743981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          164.6732249,
          451.3147752,
          166.4719589,
          457.8743981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          173.10976490000002,
          451.3147752,
          174.9084989,
          457.8743981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          194.74710230000002,
          451.3147752,
          196.54583630000002,
          457.8743981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          219.72005660000002,
          451.3147752,
          221.51879060000002,
          457.8743981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  ",
        "box": [
          75.9331,
          463.0168864,
          78.613885,
          467.92681641637427
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          94.3293,
          461.7518752,
          96.128034,
          468.3114981847953
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          84.8453,
          473.5710752,
          86.64403399999999,
          480.29068484619825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          115.43969599999998,
          473.5710752,
          117.23842999999998,
          480.29068484619825
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          67.9741,
          492.002572,
          68.243379,
          493.00854203272377
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          97.9514,
          487.7255752,
          99.750134,
          494.4451848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          127.972748,
          487.7255752,
          129.771482,
          494.4451848461983
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          145.5148,
          489.9845328,
          146.50571960000002,
          493.6864012057748
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          59.2049,
          60.848810000000014,
          60.9067026,
          66.89751368421054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          66.4940368,
          60.848810000000014,
          68.1958394,
          66.89751368421054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          93.51655366,
          60.848810000000014,
          95.21835626,
          66.89751368421054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          115.153543,
          60.848810000000014,
          116.85534559999999,
          66.89751368421054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          126.87715569,
          60.848810000000014,
          128.57895829,
          66.89751368421054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          145.36882226,
          60.848810000000014,
          147.07062486,
          66.89751368421054
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          85.9891,
          80.02991200000002,
          87.78783399999999,
          86.74960607507217
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          104.47785699999999,
          80.02991200000002,
          106.27659099999998,
          86.74960607507217
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          127.35361479999997,
          80.02991200000002,
          129.15234879999997,
          86.74960607507217
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          72.3587,
          90.94361200000003,
          74.157434,
          97.50331740350879
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          98.04716839999999,
          90.94361200000003,
          99.84590239999999,
          97.50331740350879
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          116.91954919999998,
          90.94361200000003,
          118.71828319999997,
          97.50331740350879
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          157.28680129999998,
          90.94361200000003,
          159.08553529999998,
          97.50331740350879
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          165.96051949999998,
          90.94361200000003,
          167.75925349999997,
          97.50331740350879
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          183.83245399999996,
          90.94361200000003,
          185.63118799999995,
          97.50331740350879
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          190.26332599999995,
          90.94361200000003,
          192.06205999999995,
          97.50331740350879
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          220.71684769999993,
          90.94361200000003,
          222.51558169999993,
          97.50331740350879
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          92.3277,
          101.42851200000001,
          94.12643399999999,
          107.98821740350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          87.8478,
          112.008712,
          89.646534,
          118.56841740350876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          95.663538,
          112.008712,
          97.462272,
          118.56841740350876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          115.2514329,
          112.008712,
          117.0501669,
          118.56841740350876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          166.67373600000002,
          112.008712,
          168.47247000000002,
          118.56841740350876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  ",
        "box": [
          192.3634,
          113.2737864,
          195.04418500000003,
          118.18371641637424
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          90.4213,
          133.169012,
          92.220034,
          139.88870607507215
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          108.910057,
          133.169012,
          110.70879099999999,
          139.88870607507215
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          131.7858148,
          133.169012,
          133.5845488,
          139.88870607507215
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  ",
        "box": [
          159.2882,
          134.79552719999998,
          161.74394239999998,
          139.3423597759384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          181.1159,
          133.169012,
          182.914634,
          139.88870607507215
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          108.9129,
          147.133012,
          110.71163399999999,
          153.69271740350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          135.83978879999998,
          147.133012,
          137.63852279999998,
          153.69271740350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          143.65552679999996,
          147.133012,
          145.45426079999996,
          153.69271740350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          186.97715969999996,
          147.133012,
          188.77589369999995,
          153.69271740350877
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          84.8453,
          158.046712,
          86.64403399999999,
          164.76640607507215
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          131.548712,
          158.046712,
          133.347446,
          164.76640607507215
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          95.04077899999999,
          171.91924900000004,
          96.83951299999998,
          178.63894307507218
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          113.53271959999998,
          171.91924900000004,
          115.33145359999997,
          178.63894307507218
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          136.40847739999998,
          171.91924900000004,
          138.20721139999998,
          178.63894307507218
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          163.90761829999997,
          171.91924900000004,
          165.70635229999996,
          178.63894307507218
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          197.26856269999996,
          171.91924900000004,
          199.06729669999996,
          178.63894307507218
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          247.64664499999998,
          171.91924900000004,
          249.44537899999997,
          178.63894307507218
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          275.24129389999996,
          171.91924900000004,
          277.0400279,
          178.63894307507218
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          283.29580189999996,
          171.91924900000004,
          285.0945359,
          178.63894307507218
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          327.6656351,
          171.91924900000004,
          329.4643691,
          178.63894307507218
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          103.1462,
          187.45201200000002,
          104.94493399999999,
          194.01171740350878
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          145.89398899999998,
          187.45201200000002,
          147.69272299999997,
          194.01171740350878
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          153.136679,
          187.45201200000002,
          154.93541299999998,
          194.01171740350878
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          196.36200799999997,
          187.45201200000002,
          198.16074199999997,
          194.01171740350878
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          202.13228299999997,
          187.45201200000002,
          203.93101699999997,
          194.01171740350878
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          214.76321599999997,
          187.45201200000002,
          216.56194999999997,
          194.01171740350878
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          237.40099969999997,
          187.45201200000002,
          239.19973369999997,
          194.01171740350878
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          277.0057796,
          187.45201200000002,
          278.8045136,
          194.01171740350878
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          291.1568816,
          187.45201200000002,
          292.95561560000004,
          194.01171740350878
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          103.1462,
          197.88921200000004,
          104.94493399999999,
          204.4489174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          145.89398899999998,
          197.88921200000004,
          147.69272299999997,
          204.4489174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          153.136679,
          197.88921200000004,
          154.93541299999998,
          204.4489174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          196.36200799999997,
          197.88921200000004,
          198.16074199999997,
          204.4489174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          202.13228299999997,
          197.88921200000004,
          203.93101699999997,
          204.4489174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          237.54187399999998,
          197.88921200000004,
          239.34060799999997,
          204.4489174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          277.1466539,
          197.88921200000004,
          278.9453879,
          204.4489174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          291.2977559,
          197.88921200000004,
          293.09648990000005,
          204.4489174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "  ",
        "box": [
          76.219,
          209.63908640000005,
          78.899785,
          214.5490164163743
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          125.1645,
          208.49453440000002,
          126.9201584,
          214.89706731695907
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          156.28548724,
          208.49453440000002,
          158.04114564,
          214.89706731695907
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          175.4920794,
          208.49453440000002,
          177.24773779999998,
          214.89706731695907
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          183.73745916,
          208.49453440000002,
          185.49311755999997,
          214.89706731695907
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          226.24847447999997,
          208.49453440000002,
          228.00413287999996,
          214.89706731695907
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          240.07001175999997,
          208.49453440000002,
          241.82567015999996,
          214.89706731695907
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          261.56362088,
          208.49453440000002,
          263.31927928,
          214.89706731695907
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          303.313333,
          208.49453440000002,
          305.0689914,
          214.89706731695907
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          310.3670402,
          208.49453440000002,
          312.12269860000004,
          214.89706731695907
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          111.4388,
          219.24021200000004,
          113.237534,
          225.95990607507218
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          125.92417999999999,
          219.24021200000004,
          127.72291399999999,
          225.95990607507218
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          148.3709477,
          219.24021200000004,
          150.16968169999998,
          225.95990607507218
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          192.07461259999997,
          219.24021200000004,
          193.87334659999996,
          225.95990607507218
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          199.513094,
          219.24021200000004,
          201.311828,
          225.95990607507218
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          243.884519,
          219.24021200000004,
          245.683253,
          225.95990607507218
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          249.654794,
          219.24021200000004,
          251.453528,
          225.95990607507218
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          262.85877500000004,
          219.24021200000004,
          264.65750900000006,
          225.95990607507218
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          117.12152600000005,
          233.11274900000006,
          118.92026000000004,
          239.8324430750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          135.61028300000004,
          233.11274900000006,
          137.40901700000003,
          239.8324430750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          77.4582,
          249.265012,
          79.256934,
          255.98470607507215
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          100.66664399999999,
          249.265012,
          102.46537799999999,
          255.98470607507215
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          142.2723165,
          249.265012,
          144.07105049999998,
          255.98470607507215
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          60.587,
          269.221672,
          60.856279,
          270.22764203272374
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          79.7934,
          264.94471200000004,
          81.592134,
          271.6644060750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          98.4755607,
          264.94471200000004,
          100.2742947,
          271.6644060750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          119.1594099,
          264.94471200000004,
          120.9581439,
          271.6644060750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          132.0768669,
          264.94471200000004,
          133.8756009,
          271.6644060750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          152.6636,
          267.2037328,
          153.65451960000001,
          270.9056012057748
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          60.587,
          281.755872,
          60.856279,
          282.76184203272373
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          110.0091,
          277.47891200000004,
          111.807834,
          284.19860607507223
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          128.69126070000002,
          277.47891200000004,
          130.4899947,
          284.19860607507223
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          149.3751099,
          277.47891200000004,
          151.1738439,
          284.19860607507223
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          162.2925669,
          277.47891200000004,
          164.0913009,
          284.19860607507223
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          182.8793,
          279.7379328,
          183.8702196,
          283.4398012057748
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          76.3143,
          293.921012,
          78.113034,
          300.4807174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          113.6786214,
          293.921012,
          115.4773554,
          300.4807174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          133.8387684,
          293.921012,
          135.6375024,
          300.4807174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          76.1237,
          306.216912,
          77.922434,
          312.7766174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          114.24731,
          306.216912,
          116.046044,
          312.7766174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          91.8988,
          316.654112,
          93.69753399999999,
          323.21381740350876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          130.02240999999998,
          316.654112,
          131.82114399999998,
          323.21381740350876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          91.8034,
          327.18661199999997,
          93.60213399999999,
          333.7463174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          112.393333,
          327.18661199999997,
          114.192067,
          333.7463174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          135.55561479999997,
          327.18661199999997,
          137.35434879999997,
          333.7463174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          77.5058,
          337.719112,
          79.30453399999999,
          344.2788174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          93.32829199999999,
          337.719112,
          95.12702599999999,
          344.2788174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          92.3277,
          348.251612,
          94.12643399999999,
          354.8113174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          111.15312269999998,
          348.251612,
          112.95185669999998,
          354.8113174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          123.78246389999998,
          348.251612,
          125.58119789999998,
          354.8113174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          132.2190039,
          348.251612,
          134.0177379,
          354.8113174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          175.30266269999998,
          348.251612,
          177.10139669999998,
          354.8113174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          192.125601,
          348.251612,
          193.92433499999999,
          354.8113174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          221.4831684,
          348.251612,
          223.2819024,
          354.8113174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          73.4548,
          358.688812,
          75.253534,
          365.2485174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          92.2802227,
          358.688812,
          94.07895669999999,
          365.2485174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          104.9095639,
          358.688812,
          106.70829789999999,
          365.2485174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          113.34610389999999,
          358.688812,
          115.14483789999998,
          365.2485174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          156.42976269999997,
          358.688812,
          158.22849669999997,
          365.2485174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          173.25270099999997,
          358.688812,
          175.05143499999997,
          365.2485174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          202.61106429999998,
          358.688812,
          204.40979829999998,
          365.2485174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior unsecured notes, net of unamortized debt issuance costs",
        "box": [
          60.587,
          369.126012,
          267.44698129999966,
          375.68571740350876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,207.3",
        "box": [
          384.717275,
          369.555798,
          408.96038899999996,
          376.1155034035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,216.4",
        "box": [
          448.24601299999995,
          369.555798,
          472.48912699999994,
          376.1155034035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,215.2",
        "box": [
          511.7747509999999,
          369.555798,
          536.0178650000003,
          376.1155034035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,213.9",
        "box": [
          575.3034889999999,
          369.555798,
          599.5466030000002,
          376.1155034035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,004.1",
        "box": [
          638.8322269999999,
          369.555798,
          663.0753410000002,
          376.1155034035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Debt obligations, net",
        "box": [
          67.9741,
          380.516412,
          137.40762010000003,
          387.2361060750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,004.9",
        "box": [
          380.420563,
          380.468658,
          408.90104859999997,
          387.1883520750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,027.6",
        "box": [
          443.949301,
          380.468658,
          472.42978659999994,
          387.1883520750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$3,510.4",
        "box": [
          507.47803899999997,
          380.468658,
          535.9585246000003,
          387.1883520750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2,997.2",
        "box": [
          571.0067769999999,
          380.468658,
          599.4872626000002,
          387.1883520750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2,783.2",
        "box": [
          634.5355149999999,
          380.468658,
          663.0160006000002,
          387.1883520750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Less: CLO debt",
        "box": [
          60.587,
          395.576512,
          107.7225857,
          402.1362174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          405.012725,
          396.006298,
          408.97630699999996,
          402.5660034035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          468.54146299999996,
          396.006298,
          472.50504499999994,
          402.5660034035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          532.070201,
          396.006298,
          536.033783,
          402.5660034035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          595.598939,
          396.006298,
          599.562521,
          402.5660034035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          659.127677,
          396.006298,
          663.0912589999999,
          402.5660034035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Adjusted debt obligations",
        "box": [
          67.9741,
          406.966912,
          153.26831529999995,
          413.6866060750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,004.9",
        "box": [
          380.420563,
          406.91915800000004,
          408.90104859999997,
          413.63885207507224
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$4,027.6",
        "box": [
          443.949301,
          406.91915800000004,
          472.42978659999994,
          413.63885207507224
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$3,510.4",
        "box": [
          507.47803899999997,
          406.91915800000004,
          535.9585246000003,
          413.63885207507224
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2,997.2",
        "box": [
          571.0067769999999,
          406.91915800000004,
          599.4872626000002,
          413.63885207507224
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$2,783.2",
        "box": [
          634.5355149999999,
          406.91915800000004,
          663.0160006000002,
          413.63885207507224
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total equity",
        "box": [
          60.587,
          420.454212,
          99.1690484,
          427.0139174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,426.7",
        "box": [
          380.666144,
          420.883998,
          408.96038899999996,
          427.4437034035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,444.5",
        "box": [
          444.19488199999995,
          420.883998,
          472.48912699999994,
          427.4437034035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,481.4",
        "box": [
          507.7236199999999,
          420.883998,
          536.0178650000003,
          427.4437034035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,493.4",
        "box": [
          571.252358,
          420.883998,
          599.5458071000004,
          427.4437034035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,500.1",
        "box": [
          634.7810959999999,
          420.883998,
          663.0753410000003,
          427.4437034035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Plus:  Accumulated depreciation and amortization on real estate and related intangibles",
        "box": [
          60.587,
          430.462512,
          343.58576239999974,
          437.02221740350876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "281.2",
        "box": [
          390.769898,
          431.322084,
          408.9601925,
          437.8817894035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "271.7",
        "box": [
          454.298636,
          431.322084,
          472.48813459999997,
          437.8817894035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "262.7",
        "box": [
          517.827374,
          431.322084,
          536.0184644000002,
          437.8817894035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "254.1",
        "box": [
          581.3561119999999,
          431.322084,
          599.5464065000002,
          437.8817894035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "245.8",
        "box": [
          644.8848499999999,
          431.322084,
          663.0751445000002,
          437.8817894035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Less:  Accumulated amortization of below market leases",
        "box": [
          60.587,
          440.899712,
          241.2674179999999,
          447.4594174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(19.3)",
        "box": [
          392.384951,
          441.759284,
          411.37910450000004,
          448.3189894035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(18.8)",
        "box": [
          455.913689,
          441.759284,
          474.9078425,
          448.3189894035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(18.3)",
        "box": [
          519.442427,
          441.759284,
          538.4365805000002,
          448.3189894035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(17.8)",
        "box": [
          582.9711649999999,
          441.759284,
          601.9653185000002,
          448.3189894035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(17.2)",
        "box": [
          646.4999029999999,
          441.759284,
          665.4940565000002,
          448.3189894035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Plus:  CECL allowance",
        "box": [
          60.587,
          451.336912,
          128.7986171,
          457.8966174035088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "47.1",
        "box": [
          394.82102899999995,
          452.196484,
          408.96019249999995,
          458.75618940350876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "47.1",
        "box": [
          458.34976699999993,
          452.196484,
          472.4889304999999,
          458.75618940350876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "47.1",
        "box": [
          521.8785049999999,
          452.196484,
          536.0176685000001,
          458.75618940350876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "52.1",
        "box": [
          585.4072429999999,
          452.196484,
          599.5464065000001,
          458.75618940350876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "52.2",
        "box": [
          648.9359809999999,
          452.196484,
          663.0751445000001,
          458.75618940350876
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total adjusted equity",
        "box": [
          67.9741,
          463.156212,
          138.32290509999999,
          469.8759060750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,735.8",
        "box": [
          380.420563,
          463.108458,
          408.90104859999997,
          469.8281520750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,744.6",
        "box": [
          443.949301,
          463.108458,
          472.42978659999994,
          469.8281520750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,772.9",
        "box": [
          507.47803899999997,
          463.108458,
          535.9585246000003,
          469.8281520750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,781.9",
        "box": [
          571.0067769999999,
          463.108458,
          599.4872626000002,
          469.8281520750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,780.8",
        "box": [
          634.5355149999999,
          463.108458,
          663.0160006000002,
          469.8281520750722
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          67.9741,
          481.587872,
          68.243379,
          482.5938420327238
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Adjusted leverage ratio ",
        "box": [
          68.26,
          477.310712,
          146.50571960000002,
          484.03040607507216
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          146.5157,
          475.9401272,
          148.8595103,
          479.8431896123195
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.3x",
        "box": [
          395.0084,
          477.167812,
          408.904814,
          483.88750607507217
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.3x",
        "box": [
          458.53713799999997,
          477.167812,
          472.43355199999996,
          483.88750607507217
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.0x",
        "box": [
          522.065876,
          477.167812,
          535.9622900000002,
          483.88750607507217
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.7x",
        "box": [
          585.594614,
          477.167812,
          599.4910280000001,
          483.88750607507217
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.6x",
        "box": [
          649.123352,
          477.167812,
          663.0197660000001,
          483.88750607507217
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 34,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "SELECTED DEFINITIONS",
        "box": [
          10.0,
          16.943719999999985,
          422.9272600000002,
          42.256312275025266
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "34",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Adjusted Leverage Ratio ",
        "box": [
          46.8224,
          80.30951999999996,
          163.64833999999988,
          89.66983954929577
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(non-GAAP)",
        "box": [
          162.7950421276596,
          80.30951999999996,
          213.88422400000002,
          89.74907361702128
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u0336",
        "box": [
          67.7024,
          95.53068000000002,
          67.7024,
          102.7505592982456
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total debt obligations, net of deferred financing costs, adjusted to exclude non-recourse indebtedness related to securitizations that is consolidated on our ",
        "box": [
          79.2218,
          94.69848000000002,
          679.0934599999997,
          103.64766719535783
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP balance sheet and liabilities for transfers not considered sales, divided by Total Adjusted Equity.",
        "box": [
          79.22179999999997,
          104.65860000000004,
          473.47786399999916,
          113.60778719535784
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "After-Tax Distributable Return on Average Equity (After-Tax Distributable ROAE) ",
        "box": [
          46.8224,
          128.30951999999996,
          425.6097319999992,
          137.66983954929577
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(non-GAAP)",
        "box": [
          424.9949421276596,
          128.30951999999996,
          476.084124,
          137.74907361702128
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u0336",
        "box": [
          67.7024,
          143.53068000000002,
          67.7024,
          150.7505592982456
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "After-Tax Distributable Earnings divided by average shareholders' equity balance excluding total noncontrolling interest in consolidated ventures.",
        "box": [
          79.2218,
          142.69848000000002,
          638.0730080000005,
          151.64766719535783
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings ",
        "box": [
          46.8224,
          166.22951999999998,
          152.84031200000018,
          175.5898395492958
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(non-GAAP)",
        "box": [
          152.1150421276596,
          166.22951999999998,
          203.204224,
          175.6690736170213
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u0336",
        "box": [
          67.7024,
          181.57068000000004,
          67.7024,
          188.79055929824563
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Income before taxes adjusted for: (i) net (income) loss attributable to noncontrolling interests in consolidated ventures; (ii) our share of real estate ",
        "box": [
          79.2218,
          180.73848000000004,
          651.114896000001,
          189.68766719535785
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "depreciation, amortization and gain adjustments and the inclusion of income distributions from investments in unconsolidated ventures; (iii) the impact of ",
        "box": [
          79.22179999999997,
          190.69860000000006,
          675.614864,
          199.64778719535786
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "derivative gains and losses related to hedging fair value variability of fixed rate assets caused by interest rate fluctuations and overall portfolio market risk as of ",
        "box": [
          79.22179999999992,
          200.65872000000007,
          699.0101960000009,
          209.60790719535788
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "the end of the specified accounting period; (iv) economic gains or losses on loans sales, certain of which may not be recognized under GAAP accounting in ",
        "box": [
          79.22179999999997,
          210.74148000000008,
          680.3023399999997,
          219.6906671953579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "consolidation for which risk has substantially transferred during the period, as well as the exclusion of the related GAAP economics in subsequent periods; (v) ",
        "box": [
          79.22180000000003,
          220.7016000000001,
          690.6260000000001,
          229.6507871953579
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "unrealized gains or losses related to our investments in securities recorded at fair value in current period earnings; (vi) unrealized and realized provision for ",
        "box": [
          79.23056000000008,
          230.66172000000012,
          683.1966439999999,
          239.61090719535792
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "loan losses and real estate impairment; (vii) non-cash stock-based compensation; and (viii) certain non-recurring transactional items.",
        "box": [
          79.23056000000008,
          240.74448000000012,
          593.9234840000001,
          249.69366719535793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable EPS ",
        "box": [
          46.8224,
          264.26952,
          130.289168,
          273.6298395492958
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(non-GAAP)",
        "box": [
          129.5550421276596,
          264.26952,
          180.644224,
          273.7090736170213
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u0336",
        "box": [
          67.7024,
          279.49068,
          67.7024,
          286.7105592982456
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "After-Tax Distributable Earnings divided by weighted-average diluted shares outstanding.",
        "box": [
          79.2218,
          278.65848,
          424.1389159999994,
          287.60766719535786
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GAAP Book Value per Share",
        "box": [
          46.8224,
          302.30952,
          175.08191600000015,
          311.6698395492958
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u0336",
        "box": [
          67.7024,
          317.53068,
          67.7024,
          324.75055929824566
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total shareholders' equity divided by total shares outstanding.",
        "box": [
          79.2218,
          316.69848,
          319.7459959999999,
          325.6476671953578
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan-to-Value Ratio (LTV)",
        "box": [
          46.8224,
          340.22952,
          168.39215599999994,
          349.5898395492958
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u0336",
        "box": [
          67.7024,
          355.57068000000004,
          67.7024,
          362.7905592982456
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Outstanding loan balance divided by the 'as-is' third-party Financial Institutions Reform, Recovery and Enforcement Act of 1989 ('FIRREA') appraised value at ",
        "box": [
          79.2218,
          354.73848,
          696.3681800000011,
          363.68766719535785
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "origination.",
        "box": [
          79.22180000000003,
          364.6986,
          122.80455199999999,
          373.64778719535786
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Pre-Tax Distributable Return on Average Equity (Pre-Tax Distributable ROAE) ",
        "box": [
          46.8224,
          388.22952,
          410.3757439999992,
          397.5898395492958
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(non-GAAP)",
        "box": [
          409.7550421276596,
          388.22952,
          460.84422399999994,
          397.66907361702124
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u0336",
        "box": [
          67.7024,
          403.57068000000004,
          67.7024,
          410.7905592982456
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings divided by average shareholders' equity balance excluding total noncontrolling interest in consolidated ventures.",
        "box": [
          79.2218,
          402.73848,
          599.4273920000002,
          411.68766719535785
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Adjusted Equity ",
        "box": [
          46.8224,
          426.26952,
          149.12213599999993,
          435.62983954929575
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(non-GAAP)",
        "box": [
          148.63504212765957,
          426.26952,
          199.724224,
          435.70907361702126
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u0336",
        "box": [
          67.7024,
          441.49068,
          67.7024,
          448.7105592982456
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total equity adjusted for accumulated depreciation and amortization on real estate and related intangibles and general CECL allowance.",
        "box": [
          79.2218,
          440.65848,
          604.5992959999999,
          449.60766719535786
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Undepreciated Book Equity and Undepreciated Book Value per Share ",
        "box": [
          46.8224,
          464.30952,
          369.0452240000005,
          473.6698395492958
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(non-GAAP)",
        "box": [
          368.11494212765956,
          464.30952,
          419.2041239999999,
          473.7490736170213
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u0336",
        "box": [
          67.7024,
          479.53068,
          67.7024,
          486.7505592982456
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total shareholders' equity, adjusted to include our share of total real estate accumulated depreciation and amortization, divided by total shares outstanding.",
        "box": [
          79.2218,
          478.69848,
          683.2150399999996,
          487.6476671953578
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 35,
    "width": 720.0,
    "height": 540.0,
    "cells": [
      {
        "text": "New York Headquarters:",
        "box": [
          29.4487,
          218.44876,
          147.10822,
          228.1749662752647
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "320 Park Avenue - 15 th  Floor",
        "box": [
          29.4487,
          236.78379999999999,
          155.13321999999997,
          245.68502105263155
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "New York, NY  10022",
        "box": [
          29.4439,
          249.6239,
          119.6395,
          258.52622105263157
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(212) 715-3170",
        "box": [
          29.448700000000002,
          266.5475,
          96.7219,
          275.4487210526316
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Citizens",
        "box": [
          272.0604,
          357.33086000000003,
          309.060336,
          367.0570662752647
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          309.0204,
          362.10878,
          309.91536,
          365.45216340712227
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "/  JMP Securities:",
        "box": [
          309.9804,
          357.33086000000003,
          387.80164800000017,
          367.0570662752647
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Chris Muller - (212) 906-3559",
        "box": [
          272.06136000000004,
          374.12702,
          411.69873600000005,
          383.6216557894737
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "J.P. Morgan (credit):",
        "box": [
          272.06136,
          392.51126,
          369.07992,
          402.2391462752647
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mark Streeter - (212) 834-5086",
        "box": [
          272.05848,
          409.30742,
          420.462576,
          418.8020557894737
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Moody's:",
        "box": [
          272.0604,
          463.41156,
          316.87992,
          473.13776627526465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Stephen Lynch - (212) 553-9585 ",
        "box": [
          272.0556,
          480.20772,
          425.74392,
          489.7023557894737
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Corporate Rating:  Baa3 / Stable outlook",
        "box": [
          272.0556,
          494.00868,
          458.4970079999999,
          503.5061957894737
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Standard & Poor's:",
        "box": [
          512.33688,
          463.41156,
          602.27062,
          473.14064627526466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Alan Zigman - (416) 507-2556",
        "box": [
          512.33398,
          480.20772,
          652.5703959999998,
          489.7023557894737
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Corporate Rating:  BB+ / Positive outlook",
        "box": [
          512.3339800000001,
          494.00868,
          701.6362879999995,
          503.5061957894737
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Fitch:",
        "box": [
          29.451200000000085,
          463.41156,
          55.788120000000006,
          473.14064627526466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Kimberly Green - (646) 582-4042",
        "box": [
          29.453400000000006,
          480.20772,
          185.057496,
          489.7023557894737
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Corporate Rating:  BBB- / Stable outlook",
        "box": [
          29.453400000000016,
          494.00868,
          215.03618400000002,
          503.5061957894737
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Ladder Capital Corp (NYSE: LADR) is an internally-managed, investment grade REIT.  Ladder's primary business is originating first mortgage ",
        "box": [
          29.6299,
          81.15782000000002,
          681.4643799999982,
          90.75135824561403
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "loans on all major commercial property types, with a focus on the middle market.  Our multi-cylinder business model also includes owning ",
        "box": [
          29.636019999999974,
          96.15782000000002,
          681.0966279999982,
          105.75531824561403
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and operating real estate and investing in highly-rated commercial real estate securities.  Ladder's investment objective is to preserve and ",
        "box": [
          29.626780000000053,
          111.15782000000002,
          679.5451839999982,
          120.75531824561403
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "protect shareholder capital while generating attractive risk-adjusted returns - a discipline reinforced by 13% insider ownership, with ",
        "box": [
          29.636259999999993,
          126.16178000000002,
          655.0639359999998,
          135.75531824561403
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "management and the board of directors together constituting Ladder's largest shareholder.  Since our founding in 2008, Ladder has deployed ",
        "box": [
          29.636260000000107,
          141.15782000000002,
          695.9602840000003,
          150.75927824561404
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$52 billion of capital, serving institutional and middle-market clients nationwide.",
        "box": [
          29.633140000000026,
          156.16178000000002,
          408.4138720000004,
          165.75531824561403
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Raymond James:",
        "box": [
          512.3311,
          357.33986,
          592.67062,
          367.0660662752647
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Gabe Poggi - (571) 227-9641",
        "box": [
          512.3301399999999,
          374.13602,
          647.7742359999997,
          383.6306557894736
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Keefe Bruyette & Woods:",
        "box": [
          513.20566,
          323.04481999999996,
          634.94872,
          332.77456627526465
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jade Rahmani - (212) 887-3882",
        "box": [
          513.2053599999999,
          339.84452,
          660.5265759999997,
          349.3391557894737
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Bank of America:",
        "box": [
          29.445999999999913,
          357.33086000000003,
          110.86811999999999,
          367.05808627526466
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Derek Hewett - (646) 855-2087",
        "box": [
          29.444760000000002,
          374.12702,
          177.365016,
          383.6216557894737
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investor Relations:",
        "box": [
          513.20412,
          218.39965999999998,
          603.02872,
          228.1321662752647
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "investor.relations@laddercapital.com",
        "box": [
          513.2092,
          236.74099999999999,
          678.4211199999982,
          245.64222105263156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(917) 369-3207",
        "box": [
          513.2092,
          254.37739999999997,
          580.4823999999999,
          263.27862105263154
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Company Contact Information",
        "box": [
          36.312319574468084,
          195.84548,
          199.4139720000001,
          206.63354127659574
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Research Analyst Coverage",
        "box": [
          44.70971957446808,
          298.91268,
          191.13607599999997,
          309.70074127659575
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Rating Agency Coverage",
        "box": [
          52.02971957446808,
          441.62328,
          183.94346800000008,
          452.41134127659575
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Bank of America (credit):",
        "box": [
          29.4486,
          392.51126,
          148.42812,
          402.23746627526464
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Ryan Shelley - (646) 855-8283",
        "box": [
          29.44956000000002,
          409.30742,
          171.125976,
          418.8020557894737
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Miami Office:",
        "box": [
          271.57692,
          218.44405999999998,
          336.56332000000003,
          228.1749662752647
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3390 Mary Street",
        "box": [
          271.5838,
          236.78379999999999,
          348.0359200000003,
          245.68502105263155
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Miami, FL  33133",
        "box": [
          271.5838,
          249.6239,
          345.09459999999996,
          258.52622105263157
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(305) 340-2779",
        "box": [
          271.57899999999995,
          266.5475,
          338.8521999999999,
          275.4487210526316
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "BTIG:",
        "box": [
          273.5471,
          323.13316,
          299.40662000000003,
          332.8593662752647
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Thomas Catherwood - (212) 738-6140",
        "box": [
          273.54422,
          339.92932,
          453.62831600000004,
          349.42395578947367
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Wolfe Research:",
        "box": [
          512.33078,
          392.39140000000003,
          590.15062,
          402.1213662752647
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Logan Epstein - (646) 582-9267",
        "box": [
          512.33302,
          409.19132,
          660.0113559999999,
          418.6859557894737
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "B. Riley:",
        "box": [
          29.44918000000007,
          321.24555999999995,
          68.26812,
          330.9738462752647
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Tim D'Agostino - (646) 885-5406",
        "box": [
          29.44572,
          338.04172,
          183.49461599999998,
          347.53635578947365
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "COMPANY INFORMATION",
        "box": [
          10.0,
          16.943719999999985,
          437.73207999999977,
          42.256312275025266
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "35",
        "box": [
          355.93,
          522.55872,
          364.08657999999997,
          529.1851845614035
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  }
]