[
  {
    "page_no": 1,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Second Quarter 2026 Earnings ",
        "box": [
          32.72,
          340.53001,
          900.6199899999996,
          398.13000999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Presentation",
        "box": [
          32.72,
          405.33000000000004,
          384.74000000000007,
          462.93
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Exhibit 99.2",
        "box": [
          871.03998,
          481.126,
          943.5599799999999,
          493.71576923076924
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "OARES",
        "box": [
          30.967742919921875,
          26.03571319580078,
          132.58064778645834,
          63.16071065266927
        ],
        "from_ocr": true,
        "confidence": 0.91189
      }
    ]
  },
  {
    "page_no": 2,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Disclaimer",
        "box": [
          36.0,
          45.71999999999997,
          178.66,
          72.60000000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Statements included herein may constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended, which may relate to future events or the future performance or financial condition of Ares ",
        "box": [
          36.0,
          75.08343760000002,
          925.815999999998,
          82.10714404272767
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commercial Real Estate Corporation ('ACRE' or, the 'Company'), Ares Commercial Real Estate Management LLC ('ACREM' or the Company's \"Manager\"), a subsidiary of Ares Management Corporation ('Ares Corp.'), Ares Corp., certain of their subsidiaries and certain funds and accounts managed by ",
        "box": [
          36.0,
          83.72344760000004,
          925.607999999998,
          90.74715404272769
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ACREM, Ares Corp. and/or their subsidiaries, including, without limitation, ACRE. These statements include, but are not limited to, statements about potential earnings, the resolution of underperforming loans, increased investment activity, liquidity management, reduction or increase of CECL reserve, ",
        "box": [
          36.0,
          92.3634376,
          925.6559999999998,
          99.38714404272764
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "reduction or increase of available borrowings, the industry and the loan market and are not guarantees of future results or financial condition and involve a number of risks and uncertainties. Actual results could differ materially from those in the forward-looking statements as a result of a number of factors, ",
        "box": [
          36.0,
          101.00344760000002,
          925.3599999999994,
          108.02715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "including global economic trends and economic conditions, including slower growth, changes to fiscal and monetary policy, inflation, labor shortages, changing interest rates, foreign currency exchange volatility and uncertainties caused by tariffs and trade disputes, as well as geopolitical instability, changes ",
        "box": [
          36.0,
          109.64343760000003,
          925.4319999999988,
          116.66714404272767
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "in interest rates and credit spreads, management's estimate of current expected credit losses and current expected credit loss reserve, the amount of commercial mortgage loans requiring refinancing, the demand for commercial real estate loans, the Company's expected investment capacity and available ",
        "box": [
          36.0,
          118.28344760000004,
          925.9119999999997,
          125.30715404272769
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "capital, rates of default or decreased recovery rates on the Company's target investments, the Company's business and investment strategy, the Company's projected operating results, the ability of Ares Commercial Real Estate Management LLC to locate suitable investments for the Company, monitor, ",
        "box": [
          36.0,
          126.92342760000002,
          925.5439999999995,
          133.94713404272767
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "service and administer the Company's investments and execute its investment strategy, and other risks described from time to time in ACRE's filings within the Securities and Exchange Commission ('SEC'). Any forward-looking statement, including any contained herein, speaks only as of the time of this ",
        "box": [
          36.0,
          135.56341760000004,
          925.6959999999985,
          142.58712404272768
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "release and none of ACRE, ARES Corp. nor ACREM undertakes any duty to update any forward-looking statements made herein. Any such forward-looking statements are made pursuant to the safe harbor provisions available under applicable securities laws. ",
        "box": [
          36.0,
          144.2034276,
          789.2079999999999,
          151.22713404272764
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Ares Corp. is the parent to several registered investment advisers, including Ares Management LLC ('Ares Management') and ACREM.  Collectively, Ares Corp., its affiliated entities, and all underlying subsidiary entities shall be referred to as 'Ares' unless specifically noted otherwise.  For a discussion ",
        "box": [
          36.0,
          156.84344760000005,
          925.6719999999991,
          163.8671540427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "regarding potential risks on ACRE, see Part I., Item 7. 'Management's Discussion and Analysis of Financial Condition and Results of Operations' and Part I., Item 1A. 'Risk Factors' in ACRE's Annual Report on Form 10-K and Part II, Item 1A. \"Risk Factors\" in ACRE's subsequent Quarterly Reports on ",
        "box": [
          36.0,
          165.4834576,
          925.5439999999991,
          172.50716404272765
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Form 10-Q.",
        "box": [
          36.0,
          174.12344760000002,
          69.50399999999999,
          181.14715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The information contained in this presentation is summary information that is intended to be considered in the context of ACRE's SEC filings and other public announcements that ACRE, ACREM or Ares may make, by press release or otherwise, from time to time. ACRE, ACREM and Ares undertake no ",
        "box": [
          36.0,
          186.7634276,
          925.5119999999993,
          193.78713404272764
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "duty or obligation to publicly update or revise the forward-looking statements or other information contained in this presentation. These materials contain information about ACRE, ACREM and Ares, and certain of their respective personnel and affiliates, information about their respective historical ",
        "box": [
          36.0,
          195.40343760000002,
          925.6959999999985,
          202.42714404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "performance and general information about the market. You should not view information related to the past performance of ACRE, ACREM or Ares or information about the market, as indicative of future results, the achievement of which cannot be assured.",
        "box": [
          36.0,
          204.0434576,
          776.1199999999994,
          211.06716404272765
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Nothing in these materials should be construed as a recommendation to invest in any securities that may be issued by ACRE or any other fund or account managed by ACREM or Ares, or as legal, accounting or tax advice. None of ACRE, ACREM, Ares or any affiliate of ACRE, ACREM or Ares makes any ",
        "box": [
          36.0,
          216.68343760000005,
          925.5519999999984,
          223.7071440427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein and nothing contained herein shall be relied upon as a promise or representation whether as to the past or future performance. Certain information set forth herein includes estimates and ",
        "box": [
          36.0,
          225.3234276,
          925.6559999999995,
          232.34713404272765
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "projections and involves significant elements of subjective judgment and analysis. Further, such information, unless otherwise stated, is before giving effect to management and incentive fees and deductions for taxes. No representations are made as to the accuracy of such estimates or projections or that ",
        "box": [
          36.0,
          233.96343760000002,
          925.7919999999986,
          240.98714404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "all assumptions relating to such estimates or projections have been considered or stated or that such estimates or projections will be realized.",
        "box": [
          36.0,
          242.6034576,
          445.7360000000012,
          249.62716404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "In addition, in light of the various investment strategies of such other investment partnerships, funds and/or pools, it is noted that such other investment programs may have portfolio investments inconsistent with those of the investment vehicle or strategy discussed herein. ",
        "box": [
          36.0,
          255.24343760000005,
          823.4799999999994,
          262.2671440427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "These materials are not intended as an offer to sell, or the solicitation of an offer to purchase, any security, the offer and/or sale of which can only be made by definitive offering documentation. Any offer or solicitation with respect to any securities that may be issued by ACRE will be made only by means of ",
        "box": [
          36.0,
          267.8834276,
          925.4319999999991,
          274.90713404272765
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "definitive offering memoranda or prospectus, which will be provided to prospective investors and will contain material information that is not set forth herein, including risk factors relating to any such investment. ",
        "box": [
          36.0,
          276.5234376,
          642.4240000000007,
          283.54714404272767
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "For the definitions of certain terms used in this presentation, please refer to the \"Glossary\" slide in the appendix.",
        "box": [
          36.0,
          289.1634476,
          360.05600000000055,
          296.1871540427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "This presentation may contain information obtained from third parties, including ratings from credit ratings agencies such as Standard & Poor's. Such information has not been independently verified and, accordingly, ACRE makes no representation or warranty in respect of this information. Reproduction ",
        "box": [
          36.0,
          301.8034376,
          925.6719999999978,
          308.8271440427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and distribution of third party content in any form is prohibited except with the prior written permission of the related third party.  Third party content providers do not guarantee the accuracy, completeness, timeliness or availability of any information, including ratings, and are not responsible for any errors or ",
        "box": [
          36.0,
          310.4434476,
          925.5519999999988,
          317.46715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such content.  THIRD PARTY CONTENT PROVIDERS GIVE NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR ",
        "box": [
          36.0,
          319.0834376,
          925.9679999999981,
          326.10714404272767
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FITNESS FOR A PARTICULAR PURPOSE OR USE. THIRD PARTY CONTENT PROVIDERS SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, EXEMPLARY, COMPENSATORY, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES, COSTS, EXPENSES, LEGAL FEES, OR ",
        "box": [
          36.0,
          327.7234476,
          926.3359999999976,
          334.74715404272763
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LOSSES (INCLUDING LOST INCOME OR PROFITS AND OPPORTUNITY COSTS OR LOSSES CAUSED BY NEGLIGENCE) IN CONNECTION WITH ANY USE OF THEIR CONTENT, INCLUDING RATINGS. Credit ratings are statements of opinions and are not statements of fact or recommendations ",
        "box": [
          36.0,
          336.3634376,
          925.9359999999978,
          343.38714404272764
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "to purchase, hold or sell securities. They do not address the suitability of securities or the suitability of securities for investment purposes, and should not be relied on as investment advice.",
        "box": [
          36.0,
          345.00344759999996,
          578.3280000000013,
          352.02715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          919.5,
          497.53099,
          924.558,
          505.6244130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 3,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Q2 2026 Company Results and Highlights",
        "box": [
          36.0,
          45.71999999999997,
          589.42,
          72.60000000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of June 30, 2026, unless otherwise noted. Past performance is not indicative of future results. Due to rounding, numbers presented may not add up to the totals provided. ",
        "box": [
          90.0,
          498.7134376,
          591.514000000001,
          505.73714404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "See relevant endnotes on page 23.",
        "box": [
          591.20001,
          498.7134376,
          698.5840099999995,
          505.73714404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Earnings and Results",
        "box": [
          38.63,
          82.87799999999999,
          153.67400000000004,
          93.66923076923075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 GAAP net income of $4.4 million or $0.08 per diluted common share",
        "box": [
          190.88,
          82.36001000000005,
          505.66000999999994,
          91.35270230769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Distributable Earnings of $6.9 million or $0.12 per diluted common share 1",
        "box": [
          190.88,
          99.69851,
          522.38148,
          109.35270230769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Book value of $489 million or $8.82 per common share (or $11.33 per common share excluding CECL reserve) 2",
        "box": [
          190.88,
          117.69851,
          688.41301,
          127.35270230769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 $139 million CECL reserve representing 8% of outstanding principal balance of loans held for investment",
        "box": [
          190.88,
          136.36001000000005,
          662.3700100000004,
          145.3527023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Progress and Positioning",
        "box": [
          38.63,
          170.628,
          176.13800000000003,
          181.41923076923075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Continue to address risk rated 4 and 5 loans, office loans and REO properties",
        "box": [
          190.88,
          170.11001000000005,
          542.0999999999995,
          179.1027023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Continued to make progress resolving the four risk rated 4 and 5 loans",
        "box": [
          190.88,
          186.11001000000005,
          512.9999999999997,
          195.1027023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 The number of risk rated 4 or 5 loans remained consistent QoQ",
        "box": [
          190.88,
          202.11001000000005,
          480.8499999999997,
          211.1027023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Reduced office loans to $442 million in Q2 2026, a decrease of $5 million QoQ and $82 million YoY 3",
        "box": [
          190.88,
          217.44851,
          641.882,
          227.1027023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Adjusted the risk rating of a $13 million subordinated California industrial loan to risk rated 5 (previously risk rated 4) 3",
        "box": [
          190.88,
          233.44851,
          712.97202,
          243.1027023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Continued to maintain moderate leverage profile and flexible balance sheet position to support asset resolutions and continued investing activity",
        "box": [
          190.88,
          266.11001000000005,
          854.35,
          275.1027023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Collected $16 million of repayments in Q2 2026 bringing total repayments to $111 million YTD",
        "box": [
          190.88,
          282.11001,
          609.4699999999998,
          291.1027023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Available capital of $106 million supports continued asset resolutions and investment objectives 4",
        "box": [
          190.88,
          297.44851,
          627.54846,
          307.1027023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investment Activity",
        "box": [
          38.63,
          335.62800000000004,
          146.606,
          346.4192307692308
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Continued investment activity further diversifies and expands the portfolio to support earnings ",
        "box": [
          190.88,
          335.11001,
          627.6100000000001,
          344.1027023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Closed three senior loans totaling $130 million in commitments in Q2 2026 across multifamily, self storage and hotel properties",
        "box": [
          190.88,
          353.11001,
          761.07,
          362.1027023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 All new loan commitments originated in Q2 2026 were co-investments alongside other Ares managed funds",
        "box": [
          190.88,
          371.11001,
          679.99,
          380.1027023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Increased total loans held for investment portfolio to $1.8 billion in Q2 2026, an increase of $129 million QoQ and $484 million YoY 3",
        "box": [
          190.88,
          388.44851,
          777.02201,
          398.1027023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Sold a $69 million portion of a $144 million senior retail loan commitment that was classified as held for sale in Q1 2026",
        "box": [
          190.88,
          407.11001,
          723.28,
          416.1027023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dividends",
        "box": [
          38.63,
          445.878,
          93.518,
          456.66923076923075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Declared cash dividend of $0.15 per common share for shareholders for Q3 2026, which equates to an annualized implied dividend yield of approximately 14% to ",
        "box": [
          190.88,
          445.36001,
          912.7400100000001,
          454.3527023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "our stock price as of July\u00a030, 2026 5",
        "box": [
          200.88,
          456.69851,
          357.20701,
          466.3527023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3",
        "box": [
          918.79999,
          497.66099,
          924.09199,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 4,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Portfolio Overview",
        "box": [
          36.0,
          45.71999999999997,
          288.98,
          72.60000000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of June 30, 2026, unless otherwise noted. Past performance may not be indicative of future results. Due to rounding, numbers presented may not add up to the totals provided. 1) Based on carrying value of loans held for investment, which excludes the CECL Reserve. REO ",
        "box": [
          90.0,
          502.3534276,
          914.3940000000002,
          509.3771340427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "properties are held at carrying amount net of accumulated depreciation and amortization.The North Carolina office property was reclassified as held for sale in Q1 2026 and therefore did not accumulate additional depreciation and amortization in Q2 2026. 2) Income yield is calculated ",
        "box": [
          90.0,
          510.9934076,
          914.5200000000002,
          518.0171140427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "as the annualized property level net operating income based on the three months ended June 30, 2026 (excluding non-recurring items) divided by the carrying amount. 3) REO includes REO held for investment and REO held for sale.",
        "box": [
          90.0,
          519.6334276,
          764.3479899999994,
          526.6571340427276
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Portfolio Highlights",
        "box": [
          36.33,
          75.04601000000002,
          161.168,
          87.63577923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1.9 billion total portfolio comprised of loans held for investment and two REO properties 1",
        "box": [
          36.33,
          94.34134,
          485.58133999999995,
          104.96096153846156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Risk rated 1-3 loans (ex. office): Represents 63% of the total portfolio including a majority of loans collateralized by multifamily and industrial properties 1",
        "box": [
          37.33,
          110.54135000000002,
          776.58668,
          121.16097153846158
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Risk rated 1-3 office loans: Continued to perform with stable to improving leasing trends and continued sponsor support",
        "box": [
          37.33,
          127.46899000000002,
          629.8130000000002,
          137.36095153846156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Risk rated 4 and 5 loans: The two largest loans represent 93% of the four risk rated 4 and 5 loans 1",
        "box": [
          37.33,
          142.94135,
          517.9766400000001,
          153.56097153846156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 REO: Both properties have income yields of 10% or greater 2",
        "box": [
          37.33,
          159.14132999999998,
          335.19829,
          169.76095153846154
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ACRE's Total Portfolio",
        "box": [
          38.63,
          262.36999000000003,
          140.39999999999998,
          271.3626823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in millions)",
        "box": [
          38.63,
          274.36999000000003,
          95.43999999999997,
          283.3626823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk Rated 1-3 Loans",
        "box": [
          235.75,
          262.36999000000003,
          330.49999999999983,
          271.3626823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(ex. Office)",
        "box": [
          258.13,
          274.36999000000003,
          308.10999999999996,
          283.3626823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk Rated 1-3 Office Loans",
        "box": [
          362.01999,
          268.36999000000003,
          487.7299899999998,
          277.3626823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk Rated 4 and 5 Loans",
        "box": [
          509.38,
          268.36999000000003,
          623.8600000000002,
          277.3626823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "REO 3",
        "box": [
          696.20001,
          267.70849,
          720.5565200000001,
          277.3626823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total ",
        "box": [
          838.31,
          268.36999000000003,
          863.8900000000001,
          277.3626823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Number of Loans\u00a0or\u00a0REO\u00a0Properties",
        "box": [
          38.63,
          296.86999000000003,
          197.63999999999993,
          305.86268230769235
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "29",
        "box": [
          277.20999,
          296.86999000000003,
          289.02999,
          305.86268230769235
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5",
        "box": [
          421.98001,
          296.86999000000003,
          427.76000999999997,
          305.86268230769235
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          563.47998,
          296.86999000000003,
          569.7699799999999,
          305.86268230769235
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          705.56,
          296.86999000000003,
          711.18,
          305.86268230769235
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "40",
        "box": [
          843.81,
          296.86999000000003,
          856.4399999999999,
          305.86268230769235
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Carrying Amount 1",
        "box": [
          38.63,
          320.95849,
          117.6515,
          330.61268230769235
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,189",
        "box": [
          270.62,
          321.61999000000003,
          297.5,
          330.61268230769235
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$264",
        "box": [
          413.79001,
          321.61999000000003,
          437.84001,
          330.61268230769235
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$296",
        "box": [
          555.58002,
          321.61999000000003,
          579.5400200000001,
          330.61268230769235
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$130",
        "box": [
          698.58002,
          321.61999000000003,
          720.05002,
          330.61268230769235
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,879",
        "box": [
          836.63,
          321.61999000000003,
          865.49,
          330.61268230769235
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "63% 1",
        "box": [
          276.39001,
          217.17848999999995,
          298.95152,
          226.83268230769227
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14% 1",
        "box": [
          417.72,
          210.8485,
          437.80149,
          220.5026923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16% 1",
        "box": [
          559.44,
          205.33851999999996,
          579.4315300000001,
          214.99271230769227
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7% 1",
        "box": [
          703.22998,
          202.54848999999996,
          719.00148,
          212.2026723076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100% 1",
        "box": [
          839.56,
          202.54848999999996,
          866.0315,
          212.2026723076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Chicago Office (Risk Rated 5)",
        "box": [
          38.96,
          375.65999999999997,
          173.54999999999995,
          384.6526923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Brooklyn Residential/Condo (Risk Rated 4)",
        "box": [
          481.45999,
          375.65999999999997,
          677.8599900000002,
          384.6526923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Carrying Value: $136 million",
        "box": [
          162.16,
          395.99001,
          294.74999999999994,
          404.9827023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Q2 2026 Update: Occupancy is over 90% with a weighted average ",
        "box": [
          162.16,
          411.99001,
          469.19999999999976,
          420.9827023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "lease term over seven years. The borrower continues to engage in a ",
        "box": [
          172.16,
          423.99001,
          473.37999999999977,
          432.9827023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "potential sale",
        "box": [
          172.16,
          435.99001,
          231.15999999999994,
          444.9827023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Carrying Value: $140 million",
        "box": [
          608.26001,
          395.99001,
          741.40003,
          404.9827023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022 Q2 2026 Update: Construction on the building is substantially ",
        "box": [
          608.26001,
          411.99001,
          892.7400100000006,
          420.9827023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "complete. Pre-sales activity is progressing",
        "box": [
          618.26001,
          423.99001,
          804.4900100000002,
          432.9827023076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Progress on Largest Risk Rated 4 and 5 Loans ",
        "box": [
          355.04001,
          353.27799000000005,
          607.8560100000001,
          364.0692207692308
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          918.42999,
          497.66099,
          924.0909899999999,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "OARES",
        "box": [
          34.666666666666664,
          490.0,
          81.66666666666666,
          508.0
        ],
        "from_ocr": true,
        "confidence": 0.91404
      }
    ]
  },
  {
    "page_no": 5,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Founded",
        "box": [
          88.21,
          146.00099,
          125.34399999999998,
          154.09441307692305
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1997",
        "box": [
          337.82999,
          142.56002,
          372.46998999999994,
          157.92001999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "AUM",
        "box": [
          88.21,
          170.00099,
          109.37799999999999,
          178.09441307692305
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$671 billion",
        "box": [
          285.26001,
          166.56002,
          372.5240099999999,
          181.92001999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Employees",
        "box": [
          88.21,
          194.00099,
          134.10999999999999,
          202.09441307692305
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,430+",
        "box": [
          318.63,
          190.56002,
          372.486,
          205.92001999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investment Professionals",
        "box": [
          88.21,
          218.00099,
          193.20399999999995,
          226.09441307692305
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,665+",
        "box": [
          323.84,
          214.56002,
          372.47999999999996,
          229.92001999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Global Offices",
        "box": [
          88.21,
          242.00099,
          147.502,
          250.09441307692305
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "55+ 1",
        "box": [
          339.42001,
          237.21600999999998,
          372.452,
          253.92001999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Direct Institutional Relationships",
        "box": [
          88.21,
          266.00099,
          223.21900000000002,
          274.09441307692305
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,900+",
        "box": [
          318.06,
          262.55999,
          372.49199999999996,
          277.91999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Listing: NYSE - Market Capitalization",
        "box": [
          88.21,
          290.00099,
          241.56999999999996,
          298.09441307692305
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$42 billion 2",
        "box": [
          284.79001,
          285.21598,
          372.45961,
          301.91999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Ares Management is a Global Leader",
        "box": [
          36.0,
          45.71999999999997,
          520.7640000000001,
          72.60000000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "With approximately $671 billion in assets under management, Ares Management Corporation is a global alternative investment manager ",
        "box": [
          36.0,
          75.79601000000002,
          881.4320000000007,
          88.38577923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "operating an integrated platform across five business groups",
        "box": [
          36.0,
          91.74599999999998,
          413.94400000000013,
          104.33576923076919
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5",
        "box": [
          918.89001,
          497.66099,
          924.09201,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Note: As of June 30, 2026. Ares AUM includes funds managed by Ivy Hill Asset Management, L.P., a wholly owned portfolio company of Ares Capital Corporation and registered investment adviser. Past performance is not indicative of future results. 1) Only counts one ",
        "box": [
          89.69,
          481.3434476,
          890.6899999999978,
          488.3671540427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "location per metro area. Includes only offices that Ares has leased or acquired. Does not include legacy GCP International locations where Ares is not acquiring the leases. 2) As of July 24, 2026. 3) New Delhi office is operated by a third party with whom Ares Asia maintains ",
        "box": [
          89.69,
          489.9834276,
          890.5379999999992,
          497.00713404272767
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "an ongoing relationship relating to the sourcing, acquisition and/or management of investments. 4) Includes Ares Insurance Solutions, our dedicated, in-house team that provides solutions to insurance clients and the Ares AI and Innovation / Venture Capital Groups. 5) ",
        "box": [
          89.69,
          498.6234476,
          890.6259999999979,
          505.64715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investment Fund counts are reflective of commingled funds as well as SMAs, co-invest vehicles, and other types of accounts. 6) Risk adjusted returns do not guarantee against loss of capital. 7) Reflective of the current underlying companies and properties within Secondaries ",
        "box": [
          89.69,
          507.2634276,
          890.5939999999985,
          514.2871340427276
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Group, Credit, Private Equity, Real Estate and Infrastructure commingled funds. 8) As of March 31, 2026, $89 billion in AUM represents investments by insurance companies in various Ares' funds, SMAs and co-investments versus one discrete insurance platform. The AUM ",
        "box": [
          89.69,
          515.9034376,
          890.5619999999991,
          522.9271440427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "for these investments is included across each of our investment strategies and presented within other businesses to demonstrate the scale of our aggregated insurance platform. ",
        "box": [
          89.69,
          524.5434576,
          604.3220000000011,
          531.5671640427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          39.91,
          356.06099,
          44.68899999999999,
          364.1544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Power of a broad and scaled ",
        "box": [
          56.91,
          356.06099,
          172.51500000000001,
          364.1544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "platform enhancing ",
        "box": [
          56.91,
          367.94099,
          137.66699999999994,
          376.0344130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "investment capabilities ",
        "box": [
          56.91,
          379.821,
          150.44699999999997,
          387.9144230769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          39.91,
          395.701,
          44.68899999999999,
          403.79442307692307
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "25+ year track record of ",
        "box": [
          56.91,
          395.701,
          155.181,
          403.79442307692307
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "attractive risk adjusted returns ",
        "box": [
          56.91,
          407.58101,
          180.46200000000002,
          415.6744330769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "through market cycles 6",
        "box": [
          56.91,
          418.86566,
          150.39700000000002,
          427.5544330769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The Ares Differentiators",
        "box": [
          36.02,
          329.21898999999996,
          162.43199999999996,
          339.11095153846156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Overview",
        "box": [
          40.900361540000006,
          126.80799999999999,
          48.78575292948585,
          168.09999999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          226.99001,
          356.49100999999996,
          231.93101000000001,
          364.58443307692306
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Deep management team with ",
        "box": [
          243.99001,
          356.49100999999996,
          364.90500999999995,
          364.58443307692306
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "integrated and collaborative ",
        "box": [
          243.99001,
          368.37099,
          358.45201000000003,
          376.46441307692305
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "approach",
        "box": [
          243.99001,
          380.25099,
          282.6810100000001,
          388.34441307692305
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u2022",
        "box": [
          226.99001,
          396.131,
          231.93101000000001,
          404.2244230769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "A pioneer and leader in ",
        "box": [
          243.99001,
          396.131,
          338.35501,
          404.2244230769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "leveraged finance, private credit ",
        "box": [
          243.99001,
          408.01099999999997,
          374.35501,
          416.10442307692307
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and secondaries",
        "box": [
          243.99001,
          419.89099999999996,
          309.98701,
          427.98442307692306
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Global Footprint 3",
        "box": [
          442.85999,
          122.84134,
          533.00711,
          133.46096153846156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          458.51001,
          328.80201,
          460.27001,
          335.9961638461539
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Credit",
        "box": [
          493.01999,
          328.481,
          519.3899900000001,
          336.57442307692304
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real Assets",
        "box": [
          579.27002,
          328.481,
          627.1950200000001,
          336.57442307692304
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Secondaries",
        "box": [
          676.02002,
          328.481,
          727.84202,
          336.57442307692304
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Private Equity",
        "box": [
          762.27002,
          328.481,
          819.96002,
          336.57442307692304
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other Businesses 4",
        "box": [
          848.52002,
          327.88565,
          924.82005,
          336.57442307692304
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "AUM ",
        "box": [
          449.45999,
          348.30201,
          469.32399,
          355.4961638461539
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$441 billion",
        "box": [
          493.01999,
          347.4895,
          545.5304899999999,
          356.9318269230769
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$151 billion",
        "box": [
          579.27002,
          347.4895,
          628.1160199999998,
          356.9318269230769
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$44 billion",
        "box": [
          676.02002,
          347.4895,
          725.0550199999999,
          356.9318269230769
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$24 billion",
        "box": [
          762.27002,
          347.4895,
          810.6015199999998,
          356.9318269230769
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$11 billion",
        "box": [
          848.52002,
          347.4895,
          891.2970199999999,
          356.9318269230769
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investment ",
        "box": [
          438.57999,
          366.00199,
          480.22799,
          373.19614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Funds 5",
        "box": [
          446.01999,
          375.07279,
          471.01558,
          382.79615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "335+",
        "box": [
          493.01999,
          370.80201,
          511.7239900000001,
          377.9961638461539
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "115+",
        "box": [
          579.27002,
          370.80201,
          593.8460200000001,
          377.9961638461539
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100+",
        "box": [
          676.02002,
          370.80201,
          693.4760200000001,
          377.9961638461539
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "65+",
        "box": [
          762.27002,
          370.80201,
          776.5260200000001,
          377.9961638461539
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5+",
        "box": [
          848.52002,
          370.80201,
          857.8160200000001,
          377.9961638461539
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investment ",
        "box": [
          438.57999,
          390.75199,
          480.22799,
          397.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Professionals",
        "box": [
          434.89001,
          400.352,
          482.17001000000005,
          407.54615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "565+",
        "box": [
          493.01999,
          395.55201,
          511.89999000000006,
          402.7461638461539
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "875+",
        "box": [
          579.27002,
          395.55201,
          597.59802,
          402.7461638461539
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "85+",
        "box": [
          676.02002,
          395.55201,
          690.11602,
          402.7461638461539
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "85+",
        "box": [
          762.27002,
          395.55201,
          776.36602,
          402.7461638461539
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "45+",
        "box": [
          848.52002,
          395.55201,
          862.8480200000001,
          402.7461638461539
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Local Market ",
        "box": [
          435.34,
          415.50199,
          483.47599999999994,
          422.69614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Presence",
        "box": [
          441.73999,
          425.102,
          475.2999899999999,
          432.29615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "North America, Europe & ",
        "box": [
          493.01999,
          417.13299,
          571.9589900000002,
          423.4278746153846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Asia-Pacific",
        "box": [
          493.01999,
          424.13299,
          529.5319899999998,
          430.4278746153846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "North America, Europe & ",
        "box": [
          579.27002,
          417.13299,
          658.2090200000002,
          423.4278746153846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Asia-Pacific",
        "box": [
          579.27002,
          424.13299,
          615.7820199999999,
          430.4278746153846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "North America, Europe & ",
        "box": [
          676.02002,
          417.13299,
          754.9590200000002,
          423.4278746153846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Asia-Pacific",
        "box": [
          676.02002,
          424.13299,
          712.5320199999999,
          430.4278746153846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "North America, Europe & ",
        "box": [
          762.27002,
          417.13299,
          841.2090200000002,
          423.4278746153846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Asia-Pacific",
        "box": [
          762.27002,
          424.13299,
          798.7820199999999,
          430.4278746153846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "North America",
        "box": [
          848.52002,
          420.63299,
          894.2020200000002,
          426.9278746153846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Current ",
        "box": [
          444.60001,
          444.75199,
          474.20800999999994,
          451.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Portfolio",
        "box": [
          443.39001,
          454.352,
          473.66201000000007,
          461.54615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,940+ companies",
        "box": [
          493.01999,
          449.88299,
          551.84099,
          456.1778746153846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100+ infra projects and ",
        "box": [
          579.27002,
          440.38299,
          652.0140200000001,
          446.6778746153846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "companies",
        "box": [
          579.27002,
          447.38299,
          613.6960200000001,
          453.6778746153846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,400+ real estate properties",
        "box": [
          579.27002,
          459.38299,
          668.2400200000004,
          465.6778746153846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12,000+ companies 7",
        "box": [
          676.02002,
          449.41994,
          739.46695,
          456.1778746153846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "120+ companies",
        "box": [
          762.27002,
          449.88299,
          812.9990200000001,
          456.1778746153846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$89 billion 8",
        "box": [
          848.52002,
          449.41994,
          883.65004,
          456.1778746153846
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ARES",
        "box": [
          42.33333333333333,
          491.0,
          82.0,
          507.0
        ],
        "from_ocr": true,
        "confidence": 0.99989
      }
    ]
  },
  {
    "page_no": 6,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Ares Real Estate is a Global Investment Manager and Operator",
        "box": [
          36.0,
          45.71999999999997,
          861.832,
          72.60000000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "The performance, awards noted herein relate only to selected funds/strategies and may not be representative of any given client's experience and should not be viewed as indicative of Ares' past performance or its funds' future performance. Note: Data as of June 30, 2026, ",
        "box": [
          90.0,
          481.4734476,
          890.8079999999984,
          488.4971540427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "unless otherwise indicated. 1) Investment Professionals include Investment Management, Portfolio Management and Development personnel as of June 30, 2026. 2) Operating Professionals include Asset Management, Construction Management, Property Management, Debt ",
        "box": [
          90.0,
          490.1134376,
          891.1679999999996,
          497.1371440427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Capital Markets, Due Diligence & Quantitative Development personnel as of June 30, 2026. 3) Residential includes Multifamily, Single-Family Rental (SFR) and Senior Housing units.",
        "box": [
          90.0,
          498.7534476,
          615.920000000001,
          505.77715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$121 billion+",
        "box": [
          124.97,
          127.92001000000005,
          243.35,
          147.12001000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real Estate Q2 2026 AUM",
        "box": [
          132.07001,
          160.26100000000002,
          236.27200999999994,
          168.35442307692307
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "350+",
        "box": [
          455.56,
          127.92001000000005,
          505.20000000000005,
          147.12001000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Investment Professionals 1",
        "box": [
          429.42001,
          159.66566,
          531.3263599999999,
          168.35442307692307
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "370+",
        "box": [
          751.52002,
          127.92001000000005,
          801.7600199999999,
          147.12001000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Operating Professionals 2",
        "box": [
          727.02002,
          159.66566,
          826.2277,
          168.35442307692307
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,000+",
        "box": [
          149.35001,
          201.42001000000005,
          218.91001,
          220.62001000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Global Real Estate Properties",
        "box": [
          126.21,
          233.76100000000002,
          242.12999999999994,
          241.85442307692307
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "~790 million",
        "box": [
          419.23999,
          201.42001000000005,
          541.5799899999998,
          220.62001000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Global Portfolio Square Feet",
        "box": [
          424.10999,
          233.76100000000002,
          536.7449900000001,
          241.85442307692307
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100 thousand+ | 655 million+",
        "box": [
          639.07001,
          201.42001000000005,
          914.3300099999997,
          220.62001000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Residential Units 3  | Logistics Square Feet",
        "box": [
          695.81,
          233.76100000000002,
          857.5170100000003,
          241.85442307692307
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6",
        "box": [
          918.51001,
          497.66099,
          924.09001,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Competitive Edge Delivers Demonstrated Performance",
        "box": [
          36.0,
          289.21898999999996,
          324.2329999999997,
          299.11095153846156
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Comprehensive and Dynamic Investment Solutions",
        "box": [
          492.48999,
          289.68899999999996,
          759.5919900000016,
          299.58096153846157
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Core/",
        "box": [
          517.77002,
          349.8903806,
          543.32002,
          358.6519265883176
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Core-Plus",
        "box": [
          517.77002,
          361.8903806,
          564.96002,
          370.6519265883176
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Opportunistic",
        "box": [
          809.90002,
          354.00040060000003,
          875.3800200000001,
          362.76194658831764
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Value-Add",
        "box": [
          670.28998,
          317.4503806,
          719.69998,
          326.2119265883176
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Across Equity and Debt Investments",
        "box": [
          613.40997,
          389.42038060000004,
          787.1899699999997,
          398.18192658831765
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Scale and global reach yield real-time",
        "box": [
          41.666666666666664,
          318.6666666666667,
          214.66666666666666,
          330.0
        ],
        "from_ocr": true,
        "confidence": 0.99783
      },
      {
        "text": "Combination of vertical integration and",
        "box": [
          239.0,
          318.3333333333333,
          423.3333333333333,
          330.3333333333333
        ],
        "from_ocr": true,
        "confidence": 0.99987
      },
      {
        "text": "market intelligence and drive deal flow",
        "box": [
          41.666666666666664,
          331.0,
          216.0,
          342.0
        ],
        "from_ocr": true,
        "confidence": 0.98309
      },
      {
        "text": "longstanding operating partners",
        "box": [
          239.0,
          331.0,
          392.0,
          342.3333333333333
        ],
        "from_ocr": true,
        "confidence": 0.99955
      },
      {
        "text": "delivers proprietaryinvestment",
        "box": [
          239.0,
          343.0,
          382.0,
          354.3333333333333
        ],
        "from_ocr": true,
        "confidence": 0.99113
      },
      {
        "text": "opportunities for investors",
        "box": [
          239.0,
          355.3333333333333,
          359.6666666666667,
          365.6666666666667
        ],
        "from_ocr": true,
        "confidence": 0.99844
      },
      {
        "text": "Regional and sector-specific offerings",
        "box": [
          42.33333333333333,
          389.6666666666667,
          222.0,
          401.3333333333333
        ],
        "from_ocr": true,
        "confidence": 0.99974
      },
      {
        "text": "Seasoned and collaborative team",
        "box": [
          239.0,
          389.6666666666667,
          395.6666666666667,
          400.6666666666667
        ],
        "from_ocr": true,
        "confidence": 0.98489
      },
      {
        "text": "across capital structure,return spectrum",
        "box": [
          41.666666666666664,
          402.3333333333333,
          227.0,
          413.0
        ],
        "from_ocr": true,
        "confidence": 0.9998
      },
      {
        "text": "enables us to adapt to market changes",
        "box": [
          238.33333333333334,
          401.3333333333333,
          414.6666666666667,
          413.6666666666667
        ],
        "from_ocr": true,
        "confidence": 0.99551
      },
      {
        "text": "and vehicle types differentiate us from",
        "box": [
          41.666666666666664,
          414.3333333333333,
          215.66666666666666,
          425.0
        ],
        "from_ocr": true,
        "confidence": 0.98156
      },
      {
        "text": "and positions us strongly for",
        "box": [
          239.0,
          414.3333333333333,
          367.3333333333333,
          425.3333333333333
        ],
        "from_ocr": true,
        "confidence": 0.98855
      },
      {
        "text": "peers",
        "box": [
          41.333333333333336,
          426.3333333333333,
          71.33333333333334,
          438.0
        ],
        "from_ocr": true,
        "confidence": 0.99988
      },
      {
        "text": "opportunities",
        "box": [
          239.0,
          426.6666666666667,
          302.0,
          437.0
        ],
        "from_ocr": true,
        "confidence": 0.99924
      },
      {
        "text": "\u00d8ARES",
        "box": [
          34.333333333333336,
          490.3333333333333,
          82.66666666666666,
          507.3333333333333
        ],
        "from_ocr": true,
        "confidence": 0.87444
      }
    ]
  },
  {
    "page_no": 7,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Office loans measured by outstanding principal balance decreased 1% QoQ,  16% YoY and nearly 50% in the last three years",
        "box": [
          43.08,
          75.86599000000001,
          808.3840100000007,
          88.45575923076922
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Office Loans Progress",
        "box": [
          43.2,
          47.759979999999985,
          336.64,
          74.63998000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of June 30, 2026, unless otherwise noted. Past performance is not indicative of future results.",
        "box": [
          97.2,
          497.4734476,
          376.9140000000007,
          504.4971540427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Office Loans QoQ and YoY as Measured by Outstanding Principal Balance",
        "box": [
          40.51,
          155.57798000000003,
          447.20199999999994,
          166.3692107692308
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in millions)",
        "box": [
          40.51,
          169.978,
          108.74199999999998,
          180.76923076923077
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7",
        "box": [
          919.33002,
          497.66099,
          924.09102,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$848",
        "box": [
          120.80133814085406,
          225.5793809811537,
          147.45634990042737,
          235.4708931065697
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$753",
        "box": [
          286.63671878535183,
          248.82938150195372,
          311.8087844223617,
          258.7208936273697
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$524",
        "box": [
          451.7217130938519,
          305.07938275835363,
          477.7151647047549,
          314.9708948837697
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$447",
        "box": [
          616.8067074023519,
          323.8293831783536,
          642.9907486795983,
          333.7208953037697
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$442",
        "box": [
          781.8917017090511,
          324.5793831951537,
          808.4389134652926,
          334.4708953205697
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2023",
        "box": [
          112.05683601648246,
          454.3293860943537,
          155.06802487058823,
          464.2208982197697
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2024",
        "box": [
          276.91171184740926,
          454.3293860943537,
          320.3741125087514,
          464.2208982197697
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2025",
        "box": [
          442.27685038321266,
          454.3293860943537,
          485.1779875770169,
          464.2208982197697
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2026",
        "box": [
          608.7725710033884,
          454.3293860943537,
          649.5947343881187,
          464.2208982197697
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2026",
        "box": [
          772.2167205298432,
          454.3293860943537,
          815.5800746969139,
          464.2208982197697
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 8,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Balance Sheet and Capital Position ",
        "box": [
          36.0,
          45.71999999999997,
          503.712,
          72.60000000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Maintained balance sheet flexibility which supports the ability to resolve risk rated 4 and 5 loans ",
        "box": [
          36.0,
          83.83598999999998,
          628.5640000000005,
          96.42575923076919
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and continued investment activity",
        "box": [
          36.0,
          99.786,
          245.94399999999993,
          112.37576923076921
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of June 30, 2026, unless otherwise noted. Past performance is not indicative of future results. Due to rounding, numbers presented may not add up to the totals provided. 1) Total outstanding ",
        "box": [
          90.0,
          463.9334376,
          656.9619900000007,
          470.9571440427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "borrowings is based on total outstanding principal balance. 2) Net debt to equity ratio (excluding CECL reserve) is calculated as (i) $1.3 billion outstanding principal of borrowings less $18 million ",
        "box": [
          90.0,
          472.5734276,
          656.85403,
          479.5971340427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of cash, (ii) divided by the sum of total stockholders' equity of $489 million plus CECL reserve of $139 million. Net debt to equity ratio including CECL reserve is 2.5x as of June 30, 2026. Total ",
        "box": [
          90.0,
          481.2134376,
          656.8839999999998,
          488.23714404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "debt to equity ratio excluding CECL reserve is 2.0x and including CECL reserve is 2.6x as of June 30, 2026. Please see prior earnings presentations for calculations of net debt to equity ratio for ",
        "box": [
          90.0,
          489.85342760000003,
          656.8139899999996,
          496.8771340427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "prior periods. 3) As of June 30, 2026, includes $18 million of cash and approximately $88 million of available financing proceeds under our secured funding agreements. ",
        "box": [
          90.0,
          498.4934376,
          578.1500000000008,
          505.5171440427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Repayments on Loans Held for Investment",
        "box": [
          686.40002,
          133.55802,
          920.5920200000003,
          144.34925076923076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$16 million in Q2 2026",
        "box": [
          726.71002,
          193.69398,
          883.7060199999999,
          208.08228769230772
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$111 million YTD",
        "box": [
          750.98999,
          218.89398999999997,
          859.4300099999999,
          233.28229769230768
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Available Capital 3",
        "box": [
          686.40002,
          294.04418,
          783.76782,
          305.62922076923076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$106 million",
        "box": [
          762.96002,
          367.57399,
          847.5040200000001,
          381.96229769230774
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8",
        "box": [
          918.69,
          497.66099,
          924.09,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " Continued to Maintain Balance Sheet Flexibility",
        "box": [
          36.0,
          147.95799,
          298.848,
          158.74922076923076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in millions)",
        "box": [
          36.0,
          161.83999,
          92.86,
          170.83268230769227
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$889",
        "box": [
          93.04070641278923,
          276.3972979317934,
          119.61071185818287,
          286.3003715992236
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$811",
        "box": [
          215.37801095833092,
          286.90957093098837,
          235.80466062836535,
          296.8126445984185
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,048",
        "box": [
          328.70888817496865,
          255.37275193340355,
          361.71394210882966,
          265.27582560083374
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,272",
        "box": [
          449.5451214990263,
          226.08856286601986,
          480.2401311293104,
          235.99163653345005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,263",
        "box": [
          568.129747990858,
          226.8394395088195,
          600.1221263408776,
          236.7425131762497
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.2x",
        "box": [
          98.2944556879832,
          353.7375921365517,
          115.3793713651107,
          363.64066580398196
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.1x",
        "box": [
          218.3801534012989,
          358.9937286361492,
          232.9233716810459,
          368.8968023035794
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.6x",
        "box": [
          336.2142442823886,
          332.7130461381619,
          353.94008963759813,
          342.6161198055921
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.9x",
        "box": [
          455.5494063849623,
          316.94463664117166,
          473.2752517401718,
          326.8477103086019
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.0x",
        "box": [
          573.3834972660521,
          311.6885001415742,
          593.8006387826068,
          321.59157380900444
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Outstanding Borrowings",
        "box": [
          194.3630138593563,
          441.3306763650463,
          327.75012759277183,
          450.3336547645995
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net Debt to Equity Excluding CECL",
        "box": [
          355.72817015987926,
          441.3306763650463,
          509.96163384120155,
          450.3336547645995
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2025",
        "box": [
          84.34450046591193,
          415.3094768425177,
          127.25417190227779,
          425.2125505099479
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q3 2025",
        "box": [
          203.5395625977569,
          415.3094768425177,
          246.72967172647031,
          425.2125505099479
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q4 2025",
        "box": [
          323.02483182392,
          415.3094768425177,
          366.6654929176926,
          425.2125505099479
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2026",
        "box": [
          443.7609937166403,
          415.3094768425177,
          484.5912777775811,
          425.2125505099479
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2026",
        "box": [
          561.4549846270013,
          415.3094768425177,
          604.8269649845871,
          425.2125505099479
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          328.84,
          439.51300000000003,
          331.157,
          445.80788461538464
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          511.22,
          438.72299,
          515.154,
          445.01787461538464
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 9,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Trends in CECL Reserves",
        "box": [
          43.2,
          47.759979999999985,
          379.87199999999996,
          74.63998000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of June 30, 2026, unless otherwise noted. Past performance is not indicative of future results. Due to rounding, numbers presented may not add up to the totals provided.",
        "box": [
          87.59,
          495.3134476,
          587.2800000000012,
          502.33715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Trends in CECL Reserves",
        "box": [
          43.2,
          47.26998999999995,
          379.87199999999996,
          74.14999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Change in CECL Reserve Q2 2026",
        "box": [
          36.0,
          147.20799,
          224.324,
          157.99922076923076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in millions)",
        "box": [
          36.0,
          161.08999,
          92.86,
          170.08268230769227
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q1 2026 CECL Reserve",
        "box": [
          92.84,
          410.58799,
          216.26399999999998,
          421.37922076923076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net Change in CECL Reserve on ",
        "box": [
          280.23999,
          410.58799,
          454.55198999999976,
          421.37922076923076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Existing Loans",
        "box": [
          328.23999,
          424.98801000000003,
          403.8759899999998,
          435.7792407692308
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Impact from ",
        "box": [
          545.39001,
          410.58799,
          613.8380099999999,
          421.37922076923076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "New Loan Commitments",
        "box": [
          511.82001,
          424.98801000000003,
          644.8160100000001,
          435.7792407692308
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2026 CECL Reserve",
        "box": [
          727.45001,
          410.58799,
          853.6440300000002,
          421.37922076923076
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9",
        "box": [
          918.96997,
          497.53099,
          924.54997,
          505.6244130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$138",
        "box": [
          141.7909752948757,
          184.69524027176874,
          165.0309217655227,
          194.5981831219728
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$-",
        "box": [
          357.1243789094596,
          184.69524027176874,
          375.3763695767971,
          194.5981831219728
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1",
        "box": [
          574.7086543407438,
          183.9443735478693,
          584.8838836909513,
          193.84731639807336
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$139",
        "box": [
          781.0385706957296,
          183.9443735478693,
          804.4985924066253,
          193.84731639807336
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 10,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "CECL reserve related to ",
        "box": [
          357.42999,
          252.736,
          477.51879,
          262.71999999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "risk rated 4 and 5 loans:",
        "box": [
          357.73001,
          271.93598,
          474.65720999999996,
          281.91997999999995
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "94%",
        "box": [
          392.63,
          294.25602,
          439.5938,
          316.72002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CECL Reserve",
        "box": [
          36.0,
          48.25,
          225.084,
          75.13000000000005
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of  June  30,  2026,  unless  otherwise  noted.  Past  performance  is  not  indicative  of  future  results.  Due  to  rounding,  numbers  presented  may  not  add  up  to  the  totals  provided.  1)  Total  CECL  Reserve  includes  reserve  on  both  the  outstanding  balances  and  unfunded ",
        "box": [
          90.0,
          490.10342760000003,
          891.1779899999997,
          497.1271340427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "commitments on loans held for investment. 2) Percentage is based on outstanding principal balance of loans held for investment.",
        "box": [
          90.0,
          498.7434376,
          463.31200000000155,
          505.7671440427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$139 million",
        "box": [
          74.08,
          158.37998,
          235.80800000000002,
          185.25998000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total",
        "box": [
          139.31,
          194.906,
          170.45999999999998,
          207.4957692307692
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CECL Reserve 1",
        "box": [
          108.89,
          210.77987000000002,
          200.8521,
          224.2957592307692
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8%",
        "box": [
          135.16,
          345.13000999999997,
          174.612,
          372.01000999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " CECL Reserve as a Percent of Loans ",
        "box": [
          40.9,
          381.656,
          272.012,
          394.24576923076927
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Held for Investment 2",
        "box": [
          91.05,
          397.52989,
          218.69420000000002,
          411.04575923076925
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10",
        "box": [
          915.41998,
          497.66099,
          924.1049800000001,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CECL Reserve by Risk Rating",
        "box": [
          357.04999,
          136.99799000000002,
          516.4819899999999,
          147.78922076923078
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CECL Reserve by Property Type",
        "box": [
          688.23999,
          136.99799000000002,
          865.0719900000001,
          147.78922076923078
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CECL reserve related to ",
        "box": [
          679.28003,
          246.546,
          799.36883,
          256.53
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "office and residential/",
        "box": [
          683.42999,
          265.74598,
          792.6091899999999,
          275.72997999999995
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "condo loans:",
        "box": [
          707.09003,
          284.94599,
          768.9180299999999,
          294.92999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "89%",
        "box": [
          713.95001,
          307.40999999999997,
          761.97401,
          330.45
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "52%",
        "box": [
          819.7422946242345,
          281.5948324020869,
          839.4725999316407,
          290.60073360926583
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "37%",
        "box": [
          643.2237528662971,
          300.0833904520951,
          662.7243133518199,
          309.089291659274
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11%",
        "box": [
          703.0283155677497,
          190.54308653320925,
          717.9784786126606,
          199.54898774038816
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Office",
        "box": [
          882.6206499589343,
          234.8696091837649,
          909.8430364056492,
          243.87551039094382
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Residential/",
        "box": [
          882.6206499589343,
          269.42114823171664,
          935.7054555040645,
          278.42704943889555
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Condo",
        "box": [
          882.6206499589343,
          281.43907557338576,
          913.0422153007761,
          290.4449767805646
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other",
        "box": [
          882.6206499589343,
          315.99061390567,
          908.6818125779577,
          324.9965151128489
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6%",
        "box": [
          424.8295664327867,
          188.14785979617966,
          439.3700106534592,
          197.1550387945298
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "39%",
        "box": [
          495.1610471052108,
          279.7679149680121,
          515.5862659276327,
          288.7750939663623
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "55%",
        "box": [
          316.0958134255809,
          291.0677966439587,
          336.0004262051409,
          300.0749756423088
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk Rated",
        "box": [
          553.137288029346,
          224.71866720306497,
          600.18446162654,
          233.7258462014151
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1-3 Loans",
        "box": [
          553.137288029346,
          236.73829969351374,
          595.1204993789734,
          245.74547869186387
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk Rated",
        "box": [
          553.137288029346,
          271.29474032634306,
          600.18446162654,
          280.3019193246932
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4 Loans",
        "box": [
          553.137288029346,
          283.31437281859485,
          588.3951509081264,
          292.321551816945
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk Rated",
        "box": [
          553.137288029346,
          317.87081345142417,
          600.18446162654,
          326.8779924497743
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5 Loans",
        "box": [
          553.137288029346,
          329.89044594187294,
          587.8848008793602,
          338.89762494022307
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u00d8ARES",
        "box": [
          34.0,
          490.3333333333333,
          82.33333333333334,
          507.6666666666667
        ],
        "from_ocr": true,
        "confidence": 0.86683
      }
    ]
  },
  {
    "page_no": 11,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "CECL Reserve for Risk Rated 4 and 5 Loans",
        "box": [
          36.0,
          45.71999999999997,
          610.364,
          72.60000000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of  June  30,  2026,  unless  otherwise  noted.  Past  performance  is  not  indicative  of  future  results.  Due  to  rounding,  numbers  presented  may  not  add  up  to  the  totals  provided.  1)  Total  CECL  Reserve  includes  reserve  on  both  the  outstanding  balances  and  unfunded ",
        "box": [
          90.0,
          490.1134376,
          891.1779899999997,
          497.1371440427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "commitments on loans held for investment with risk ratings of 4 or 5. 2) Percentages are based on outstanding principal balance of loans with risk ratings of 4 or 5.",
        "box": [
          90.0,
          498.7534476,
          559.8480000000014,
          505.77715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk Rated 4 and 5 Loans CECL Reserve by",
        "box": [
          296.39001,
          100.28800000000001,
          531.2300099999999,
          111.07923076923078
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Property Type",
        "box": [
          296.39001,
          114.68799999999999,
          375.75800999999996,
          125.47923076923075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk Rated 4 and 5 Loans CECL Reserve as a Percent ",
        "box": [
          621.59003,
          100.28800000000001,
          912.7220300000005,
          111.07923076923078
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "of Loan Balance 2",
        "box": [
          621.59003,
          113.89420999999999,
          713.96322,
          125.47923076923075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$130 million",
        "box": [
          73.23,
          154.62998,
          236.66600000000003,
          181.50998000000004
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CECL Reserve 1  for",
        "box": [
          98.53,
          191.156,
          211.22399000000001,
          203.7457692307692
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk Rated 4 and 5 Loans",
        "box": [
          76.78,
          207.95598999999999,
          233.03400000000002,
          220.5457592307692
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "34%",
        "box": [
          126.95,
          341.38000999999997,
          182.83800000000002,
          368.26000999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CECL Reserve as a Percent of",
        "box": [
          62.69,
          377.906,
          247.12599999999998,
          390.49576923076927
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Risk Rated 4 and 5 Loan Balance 2",
        "box": [
          51.09,
          393.77989,
          258.65418999999997,
          407.29575923076925
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11",
        "box": [
          918.15002,
          497.66099,
          924.1080200000001,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "53%",
        "box": [
          544.2111572087366,
          282.4501302021433,
          564.2411482523164,
          291.4647193644811
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "40%",
        "box": [
          343.8685090316656,
          285.59302042144157,
          364.8698788693053,
          294.6076095837793
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7%",
        "box": [
          425.1142552659783,
          174.74862408612148,
          438.7608999485928,
          183.76321324845924
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Office",
        "box": [
          345.23570376604,
          416.0881899370417,
          375.22684889734467,
          426.00403518228626
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Residential/ Condo",
        "box": [
          408.359369554723,
          416.0881899370417,
          502.7467487714184,
          426.00403518228626
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Industrial",
        "box": [
          536.1096455575185,
          416.0881899370417,
          581.244017225181,
          426.00403518228626
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "39%",
        "box": [
          670.4357237660399,
          257.1091665759938,
          692.9235092485679,
          267.02501182123837
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27%",
        "box": [
          768.8785835081293,
          293.19772738257313,
          790.0731441999405,
          303.1135726278177
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "75%",
        "box": [
          866.5699710384057,
          147.3397941225732,
          887.9353586478229,
          157.25563936781776
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Office",
        "box": [
          665.9569493817589,
          396.9523397012631,
          695.9480945130636,
          406.86818494650765
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Residential/ ",
        "box": [
          749.7911896155629,
          396.9523397012631,
          810.6749522582344,
          406.86818494650765
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Condo",
        "box": [
          762.2756475205821,
          410.18481228349185,
          795.7787637370539,
          420.1006575287364
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Industrial",
        "box": [
          854.1456304719287,
          396.9523397012631,
          899.2800021395911,
          406.86818494650765
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 12,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Summary of Real Estate Owned (\"REO\")",
        "box": [
          36.0,
          45.71999999999997,
          560.8879999999999,
          72.60000000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of June 30, 2026, unless otherwise noted. Past performance may not be indicative of future results. Due to rounding, numbers presented may not add up to the totals provided. 1) Carrying amount is net of accumulated depreciation and amortization of $9 million for the ",
        "box": [
          90.0,
          493.6634476,
          890.6139799999997,
          500.6871540427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Florida mixed-use property and $7 million for the North Carolina office property. The North Carolina office property was reclassified as held for sale in Q1 2026 and therefore did not accumulate additional depreciation and amortization in Q2 2026. 2) Income yield is calculated ",
        "box": [
          90.0,
          502.3034376,
          890.7299900000003,
          509.3271440427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "as the annualized property level net operating income based on the three months ended June 30, 2026 (excluding non-recurring items) divided by the carrying amount.",
        "box": [
          90.0,
          510.9434176,
          573.4599900000005,
          517.9671240427276
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mixed-Use",
        "box": [
          456.73999,
          224.49599999999998,
          527.28599,
          237.0857692307692
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Office",
        "box": [
          759.71002,
          224.49599999999998,
          800.32402,
          237.0857692307692
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Quarter Converted to REO",
        "box": [
          38.63,
          263.12600000000003,
          209.346,
          275.71576923076924
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q3 2023",
        "box": [
          467.73999,
          263.77799,
          516.27999,
          274.56922076923075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q3 2024",
        "box": [
          755.42999,
          263.77799,
          804.5939900000001,
          274.56922076923075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Location",
        "box": [
          38.63,
          301.376,
          95.274,
          313.96576923076924
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Florida",
        "box": [
          472.82999,
          302.02799000000005,
          511.19399,
          312.8192207692308
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "North Carolina",
        "box": [
          739.44,
          302.02799000000005,
          820.5840000000003,
          312.8192207692308
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Square Footage",
        "box": [
          38.63,
          339.626,
          141.418,
          352.21576923076924
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "816 thousand",
        "box": [
          454.82999,
          340.27799000000005,
          529.2059899999999,
          351.0692207692308
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "554 thousand",
        "box": [
          741.52002,
          340.27799000000005,
          818.5120200000001,
          351.0692207692308
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Carrying Amount 1",
        "box": [
          38.63,
          377.31989999999996,
          154.02991,
          390.83576923076924
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$76 million",
        "box": [
          461.64999,
          378.908,
          522.36999,
          389.6992307692308
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$54 million",
        "box": [
          749.26001,
          378.908,
          810.7480100000002,
          389.6992307692308
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Income Yield 2",
        "box": [
          38.63,
          415.5699,
          128.03539999999998,
          429.08576923076924
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10%",
        "box": [
          480.72,
          417.158,
          503.28000000000003,
          427.9492307692308
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12%",
        "box": [
          769.15997,
          417.158,
          790.8559700000001,
          427.9492307692308
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Classification",
        "box": [
          38.63,
          454.376,
          126.424,
          466.96576923076924
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Held for Investment",
        "box": [
          437.23001,
          455.02799,
          546.8140099999999,
          465.81922076923075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Held for Sale",
        "box": [
          744.90997,
          455.02799,
          815.1339700000002,
          465.81922076923075
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12",
        "box": [
          916.07001,
          497.66099,
          924.1070100000001,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ARES",
        "box": [
          42.66666666666667,
          490.3333333333333,
          82.33333333333334,
          507.0
        ],
        "from_ocr": true,
        "confidence": 0.9999
      }
    ]
  },
  {
    "page_no": 13,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "1.",
        "box": [
          0.0,
          455.90999,
          9.120000000000001,
          470.30998999999997
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Appendix",
        "box": [
          33.0,
          423.50999,
          308.52000000000004,
          481.10999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13",
        "box": [
          915.83002,
          497.66099,
          924.1010200000001,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "OARES",
        "box": [
          30.483871459960938,
          26.03571319580078,
          134.03226725260416,
          65.0892842610677
        ],
        "from_ocr": true,
        "confidence": 0.86916
      }
    ]
  },
  {
    "page_no": 14,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Loans Held for Investment Portfolio Details",
        "box": [
          36.0,
          45.71999999999997,
          613.3360000000001,
          72.60000000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of June 30, 2026 unless otherwise noted. Past performance is not indicative of future results. Due to rounding, numbers presented may not add up to the totals provided. 1) I/O = interest only, P/I = principal and interest. 2) The Illinois loan is structured as both a senior and ",
        "box": [
          90.0,
          455.5534376,
          890.7059799999993,
          462.5771440427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "mezzanine loan with the Company holding contiguous positions. The senior position has a per annum interest rate of S + 2.25% and the mezzanine position has a fixed per annum interest rate of 10.00%. The senior and mezzanine loans were both on non-accrual status as of ",
        "box": [
          90.0,
          464.1934476,
          890.972029999999,
          471.21715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "June 30, 2026 and the Unleveraged Effective Yield is not applicable. In April 2026, the Company and the borrower entered into a modification and extension agreement to, among other things, extend the maturity date on the Illinois loan from April 2026 to July 2026. 3) The ",
        "box": [
          90.0,
          472.8334376,
          890.6140099999999,
          479.85714404272767
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Arizona loan is structured as a senior A-Note with an outstanding principal balance of $65.0 million, a subordinated B-Note with no initial outstanding principal balance and an unfunded commitment of $12.0 million for certain lender approved leasing costs and a subordinated ",
        "box": [
          90.0,
          481.4734476,
          890.8979799999987,
          488.4971540427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "C-Note with an outstanding principal balance of $8.7 million. The subordinated B-Note is pari-passu with new borrower contributions for the loan principal paydown and other additional capital contributions. The subordinated C-Note is subordinate to the A-Note, B-Note and the ",
        "box": [
          90.0,
          490.1134376,
          890.8859899999997,
          497.1371440427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "new borrower contributions. The senior A-Note has a per annum interest rate of S + 2.00%, the subordinated B-Note has a fixed per annum interest rate of 12.00% and the subordinated C-Note has a fixed per annum interest rate of 5.50%.",
        "box": [
          90.0,
          498.7534476,
          779.5340199999999,
          505.77715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14",
        "box": [
          915.46002,
          497.66099,
          924.10002,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in millions)",
        "box": [
          38.63,
          83.73200000000003,
          86.58999999999999,
          90.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "#",
        "box": [
          44.39,
          105.11200000000002,
          50.102000000000004,
          112.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Type",
        "box": [
          80.18,
          105.11200000000002,
          118.57200000000002,
          112.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Location",
        "box": [
          159.7,
          105.11200000000002,
          192.05999999999995,
          112.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Origination",
        "box": [
          226.3,
          100.31202000000002,
          267.94800000000004,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Date",
        "box": [
          238.36,
          109.91199,
          255.904,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Current Loan ",
        "box": [
          300.64999,
          100.31202000000002,
          351.1619900000001,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commitment",
        "box": [
          300.32999,
          109.91199,
          349.92199000000005,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Outstanding ",
        "box": [
          386.67999,
          100.31202000000002,
          434.63199000000003,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Principal",
        "box": [
          393.64999,
          109.91199,
          426.09799,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Carrying",
        "box": [
          478.45999,
          100.31202000000002,
          510.78799000000004,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Value",
        "box": [
          484.07999,
          109.91199,
          505.18399000000005,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest",
        "box": [
          564.87,
          100.31202000000002,
          593.886,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Rate",
        "box": [
          570.78003,
          109.91199,
          587.9800299999999,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SOFR",
        "box": [
          646.83002,
          100.31202000000002,
          667.9340199999999,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Floor",
        "box": [
          647.84003,
          109.91199,
          666.92803,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unleveraged",
        "box": [
          714.46997,
          100.31202000000002,
          761.5579699999998,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Effective Yield",
        "box": [
          711.33002,
          109.91199,
          764.7060199999999,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Maturity",
        "box": [
          803.69,
          100.31202000000002,
          835.8260000000001,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Date",
        "box": [
          810.97998,
          109.91199,
          828.5239799999999,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Payment",
        "box": [
          873.65002,
          100.31202000000002,
          906.85802,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Terms 1",
        "box": [
          877.40997,
          109.38279,
          903.0827999999999,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Office Loans:",
        "box": [
          38.63,
          128.36200000000002,
          87.51,
          135.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1",
        "box": [
          45.93,
          146.36200000000002,
          48.578,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          146.36200000000002,
          110.85400000000001,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "IL",
        "box": [
          172.8,
          146.36200000000002,
          178.952,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Nov 2020",
        "box": [
          229.62,
          146.36200000000002,
          264.652,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$169.0",
        "box": [
          314.04001,
          146.36200000000002,
          338.08801,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$169.0",
        "box": [
          398.79001,
          146.36200000000002,
          422.83801,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$136.3",
        "box": [
          483.85999,
          146.36200000000002,
          507.28399,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          577.90997,
          145.83280000000002,
          580.8323700000001,
          150.50900000000001
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.5%",
        "box": [
          650.52002,
          146.36200000000002,
          666.11202,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-% 2",
        "box": [
          728.95001,
          145.83280000000002,
          747.0524,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jul 2026 2",
        "box": [
          802.59003,
          145.83280000000002,
          836.9024400000001,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          146.36200000000002,
          896.02398,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2",
        "box": [
          45.0,
          164.36200000000002,
          49.496,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          164.36200000000002,
          110.85400000000001,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NC",
        "box": [
          170.16,
          164.36200000000002,
          181.592,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Aug 2021",
        "box": [
          230.53999,
          164.36200000000002,
          263.73199,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "85.0",
        "box": [
          317.04999,
          164.36200000000002,
          333.20999,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "72.7",
        "box": [
          402.57001,
          164.36200000000002,
          417.19401000000005,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "72.7",
        "box": [
          487.32001,
          164.36200000000002,
          501.94401000000005,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.65%",
        "box": [
          563.37,
          164.36200000000002,
          595.39597,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.2%",
        "box": [
          649.37,
          164.36200000000002,
          667.266,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.3%",
        "box": [
          730.31,
          164.36200000000002,
          747.5739999999998,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Aug 2028",
        "box": [
          802.09003,
          164.36200000000002,
          837.4340299999999,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          164.36200000000002,
          896.02398,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3",
        "box": [
          44.9,
          182.36200000000002,
          49.604,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          182.36200000000002,
          110.85400000000001,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "AZ",
        "box": [
          170.84,
          182.36200000000002,
          180.912,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Sep 2021",
        "box": [
          230.94,
          182.36200000000002,
          263.332,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "65.0",
        "box": [
          316.97,
          182.36200000000002,
          333.29,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "65.0",
        "box": [
          401.72,
          182.36200000000002,
          418.04,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "65.0",
        "box": [
          486.47,
          182.36200000000002,
          502.79,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+2.00%",
        "box": [
          563.19,
          182.36200000000002,
          595.5679799999999,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.5%",
        "box": [
          649.31,
          182.36200000000002,
          667.334,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.7%",
        "box": [
          730.34998,
          182.36200000000002,
          747.5339799999999,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Oct 2027 3",
        "box": [
          801.59003,
          181.83280000000002,
          837.90764,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          182.36200000000002,
          896.02398,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4",
        "box": [
          44.73,
          200.36200000000002,
          49.762,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          200.36200000000002,
          110.85400000000001,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NY",
        "box": [
          170.57001,
          200.36200000000002,
          181.18601,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jul 2021",
        "box": [
          232.59,
          200.36200000000002,
          261.694,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "65.0",
        "box": [
          316.97,
          200.36200000000002,
          333.29,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "65.0",
        "box": [
          401.72,
          200.36200000000002,
          418.04,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "65.0",
        "box": [
          486.47,
          200.36200000000002,
          502.79,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+2.65%",
        "box": [
          563.46997,
          200.36200000000002,
          595.28794,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.4%",
        "box": [
          649.09998,
          200.36200000000002,
          667.53198,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.3%",
        "box": [
          729.95001,
          200.36200000000002,
          747.94201,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jul 2028",
        "box": [
          804.13,
          200.36200000000002,
          835.3859999999999,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          200.36200000000002,
          896.02398,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5",
        "box": [
          44.94,
          218.36200000000002,
          49.564,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          218.36200000000002,
          110.85400000000001,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "IL",
        "box": [
          172.8,
          218.36200000000002,
          178.952,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dec 2022",
        "box": [
          229.89999,
          218.36200000000002,
          264.36399,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "53.7",
        "box": [
          317.51999,
          218.36200000000002,
          332.74399000000005,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "53.7",
        "box": [
          402.26999,
          218.36200000000002,
          417.49399000000005,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "53.7",
        "box": [
          487.01999,
          218.36200000000002,
          502.24399000000005,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+4.25%",
        "box": [
          563.44,
          218.36200000000002,
          595.32998,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.0%",
        "box": [
          649.27002,
          218.36200000000002,
          667.37402,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.0%",
        "box": [
          729.84003,
          218.36200000000002,
          748.0400299999999,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jan 2027",
        "box": [
          803.15997,
          218.36200000000002,
          836.36797,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "P/I",
        "box": [
          885.15997,
          218.36200000000002,
          895.3439700000001,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6",
        "box": [
          44.77,
          236.36200000000002,
          49.730000000000004,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Subordinated",
        "box": [
          74.99,
          236.36200000000002,
          123.79000000000002,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "AZ",
        "box": [
          170.84,
          236.36200000000002,
          180.912,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Sep 2021",
        "box": [
          230.94,
          236.36200000000002,
          263.332,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20.7",
        "box": [
          317.39999,
          236.36200000000002,
          332.86399,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.7",
        "box": [
          404.53,
          236.36200000000002,
          415.226,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.5",
        "box": [
          489.07999,
          236.36200000000002,
          500.16799000000003,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3",
        "box": [
          577.84998,
          235.83280000000002,
          580.9075799999999,
          240.50900000000001
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-%",
        "box": [
          650.71997,
          236.36200000000002,
          665.90397,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.6%",
        "box": [
          729.82001,
          236.36200000000002,
          748.0680100000001,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Oct 2027 3",
        "box": [
          801.59003,
          235.83280000000002,
          837.90764,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          236.36200000000002,
          896.02398,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7",
        "box": [
          45.13,
          254.36200000000002,
          49.362,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          254.36200000000002,
          110.85400000000001,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diversified",
        "box": [
          157.28999,
          254.36200000000002,
          194.48199000000002,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jan 2020",
        "box": [
          230.11,
          254.36200000000002,
          264.158,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.9",
        "box": [
          319.70001,
          254.36200000000002,
          330.55601,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.9",
        "box": [
          404.45001,
          254.36200000000002,
          415.30601,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.9",
        "box": [
          489.20001,
          254.36200000000002,
          500.05601,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.75%",
        "box": [
          563.72998,
          254.36200000000002,
          595.0279499999999,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.6%",
        "box": [
          650.34998,
          254.36200000000002,
          666.27798,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12.4%",
        "box": [
          728.70001,
          254.36200000000002,
          749.19601,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jul 2026",
        "box": [
          804.04999,
          254.36200000000002,
          835.4659899999999,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "P/I",
        "box": [
          885.15997,
          254.36200000000002,
          895.3439700000001,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Office",
        "box": [
          38.63,
          272.362,
          82.294,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$466.3",
        "box": [
          312.63,
          272.362,
          339.50999999999993,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$442.0",
        "box": [
          397.14001,
          272.362,
          424.51600999999994,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$409.1",
        "box": [
          482.82001,
          272.362,
          508.33200999999997,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Hotel Loans:",
        "box": [
          38.63,
          290.36199999999997,
          84.31,
          297.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8",
        "box": [
          44.85,
          308.36199999999997,
          49.65,
          315.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          308.36199999999997,
          110.85400000000001,
          315.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NY",
        "box": [
          170.57001,
          308.36199999999997,
          181.18601,
          315.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mar 2022",
        "box": [
          229.78999,
          308.36199999999997,
          264.48598999999996,
          315.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$55.7",
        "box": [
          316.12,
          308.36199999999997,
          336.0160000000001,
          315.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$55.7",
        "box": [
          400.87,
          308.36199999999997,
          420.7660000000001,
          315.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$55.6",
        "box": [
          485.26001,
          308.36199999999997,
          505.88401000000005,
          315.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+4.40%",
        "box": [
          562.94,
          308.36199999999997,
          595.81398,
          315.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.1%",
        "box": [
          650.29999,
          308.36199999999997,
          666.33999,
          315.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.3%",
        "box": [
          730.03003,
          308.36199999999997,
          747.8620299999999,
          315.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mar 2027",
        "box": [
          802.53998,
          308.36199999999997,
          836.97198,
          315.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          308.36199999999997,
          896.02398,
          315.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9",
        "box": [
          44.77,
          326.36199999999997,
          49.730000000000004,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          326.36199999999997,
          110.85400000000001,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SC",
        "box": [
          170.63,
          326.36199999999997,
          181.126,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Oct 2025",
        "box": [
          230.3,
          326.36199999999997,
          263.98,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "58.0",
        "box": [
          317.04999,
          326.36199999999997,
          333.20999,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "48.3",
        "box": [
          401.78,
          326.36199999999997,
          417.97999999999996,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "47.9",
        "box": [
          486.67999,
          326.36199999999997,
          502.56798999999995,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.50%",
        "box": [
          563.31,
          326.36199999999997,
          595.4479699999999,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.0%",
        "box": [
          649.27002,
          326.36199999999997,
          667.37402,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.6%",
        "box": [
          730.17999,
          326.36199999999997,
          747.69999,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Nov 2028",
        "box": [
          802.38,
          326.36199999999997,
          837.1399999999998,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          326.36199999999997,
          896.02398,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10",
        "box": [
          43.39,
          344.36199999999997,
          51.102000000000004,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          344.36199999999997,
          110.85400000000001,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CA",
        "box": [
          170.3,
          344.36199999999997,
          181.44400000000002,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jun 2026",
        "box": [
          229.99001,
          344.36199999999997,
          264.28601,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "35.0",
        "box": [
          317.10001,
          344.36199999999997,
          333.16401,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "35.0",
        "box": [
          401.85001,
          344.36199999999997,
          417.91401,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "34.7",
        "box": [
          486.81,
          344.36199999999997,
          502.442,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+2.95%",
        "box": [
          563.46997,
          344.36199999999997,
          595.28794,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.3%",
        "box": [
          649.56,
          344.36199999999997,
          667.0879999999999,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.1%",
        "box": [
          731.34003,
          344.36199999999997,
          746.5400299999999,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jun 2028",
        "box": [
          802.69,
          344.36199999999997,
          836.8259999999999,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          344.36199999999997,
          896.02398,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11",
        "box": [
          44.61,
          362.36199999999997,
          49.898,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          362.36199999999997,
          110.85400000000001,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diversified",
        "box": [
          157.28999,
          362.36199999999997,
          194.48199000000002,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Nov 2025",
        "box": [
          229.84,
          362.36199999999997,
          264.42400000000004,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "25.0",
        "box": [
          317.20001,
          362.36199999999997,
          333.05601,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "23.9",
        "box": [
          401.97,
          362.36199999999997,
          417.794,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "23.7",
        "box": [
          487.07999,
          362.36199999999997,
          502.17599,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.75%",
        "box": [
          563.72998,
          362.36199999999997,
          595.0279499999999,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.0%",
        "box": [
          649.27002,
          362.36199999999997,
          667.37402,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.8%",
        "box": [
          730.26001,
          362.36199999999997,
          747.6200099999999,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Nov 2028",
        "box": [
          802.38,
          362.36199999999997,
          837.1399999999998,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          362.36199999999997,
          896.02398,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12",
        "box": [
          43.68,
          380.36199999999997,
          50.816,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          380.36199999999997,
          110.85400000000001,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FL",
        "box": [
          171.56,
          380.36199999999997,
          180.184,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Nov 2025",
        "box": [
          229.84,
          380.36199999999997,
          264.42400000000004,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "25.0",
        "box": [
          317.20001,
          380.36199999999997,
          333.05601,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "19.4",
        "box": [
          402.73001,
          380.36199999999997,
          417.02601,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "19.2",
        "box": [
          487.75,
          380.36199999999997,
          501.51,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.35%",
        "box": [
          563.5,
          380.36199999999997,
          595.26997,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.8%",
        "box": [
          649.51001,
          380.36199999999997,
          667.1340099999999,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.4%",
        "box": [
          730.15002,
          380.36199999999997,
          747.74202,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dec 2028",
        "box": [
          802.37,
          380.36199999999997,
          837.1379999999999,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          380.36199999999997,
          896.02398,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Hotel",
        "box": [
          38.63,
          398.36199999999997,
          79.09400000000001,
          405.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$198.7",
        "box": [
          313.91,
          398.36199999999997,
          338.222,
          405.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$182.3",
        "box": [
          398.62,
          398.36199999999997,
          423.02,
          405.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$181.1",
        "box": [
          485.04001,
          398.36199999999997,
          506.10401,
          405.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 15,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Loans Held for Investment Portfolio Details",
        "box": [
          36.0,
          45.71999999999997,
          613.836,
          72.60000000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of June 30, 2026 unless otherwise noted. Past performance is not indicative of future results. Due to rounding, numbers presented may not add up to the totals provided. 1) I/O = interest only, P/I = principal and interest. 2) In June 2026, the Company and the borrower ",
        "box": [
          90.0,
          455.5534376,
          890.7739999999999,
          462.5771440427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "entered into a modification and extension agreement to, among other things, extend the maturity date on the senior New York loan from June 2026 to June 2027. 3) In June 2026, the Company and the borrower entered into a modification and extension agreement to, among ",
        "box": [
          90.0,
          464.1934476,
          890.6879699999986,
          471.21715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "other things, extend the maturity date on the senior Texas loan from May 2026 to July 2026. 4) As of June 30, 2026, the senior New Jersey loan, which is collateralized by an industrial property, is in maturity default due to the failure of the borrower to repay the outstanding ",
        "box": [
          90.0,
          472.8334376,
          891.0999999999985,
          479.85714404272767
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "principal balance of the loan by the November 2024 maturity date and the borrower is current on all contractual interest payments. 5) The California loan is structured as a senior A-Note, with an outstanding principal balance of $7.0 million as of June 30, 2026, a subordinated ",
        "box": [
          90.0,
          481.4734476,
          890.5940099999996,
          488.4971540427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "B-Note with no outstanding principal balance and an unfunded commitment of $500 thousand for certain lender approved leasing costs and a subordinated C-Note with an outstanding principal balance of $12.6 million as of June 30, 2026. The subordinated B-Note and C-Note ",
        "box": [
          90.0,
          490.1134376,
          890.881999999999,
          497.1371440427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "are subordinate to new borrower equity related to additional capital contributions. As of June 30, 2026, the subordinated C-Note was on non-accrual status and therefore, the Unleveraged Effective Yield is not applicable.",
        "box": [
          90.0,
          498.7534476,
          723.4979899999993,
          505.77715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in millions)",
        "box": [
          38.63,
          83.73200000000003,
          86.58999999999999,
          90.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "#",
        "box": [
          44.39,
          105.11200000000002,
          50.102000000000004,
          112.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Type",
        "box": [
          80.18,
          105.11200000000002,
          118.57200000000002,
          112.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Location",
        "box": [
          159.7,
          105.11200000000002,
          192.05999999999995,
          112.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Origination",
        "box": [
          226.3,
          100.31202000000002,
          267.94800000000004,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Date",
        "box": [
          238.36,
          109.91199,
          255.904,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Current Loan ",
        "box": [
          300.64999,
          100.31202000000002,
          351.1619900000001,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commitment",
        "box": [
          300.32999,
          109.91199,
          349.92199000000005,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Outstanding ",
        "box": [
          386.67999,
          100.31202000000002,
          434.63199000000003,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Principal",
        "box": [
          393.64999,
          109.91199,
          426.09799,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Carrying",
        "box": [
          478.45999,
          100.31202000000002,
          510.78799000000004,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Value",
        "box": [
          484.07999,
          109.91199,
          505.18399000000005,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest",
        "box": [
          564.87,
          100.31202000000002,
          593.886,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Rate",
        "box": [
          570.78003,
          109.91199,
          587.9800299999999,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SOFR",
        "box": [
          646.83002,
          100.31202000000002,
          667.9340199999999,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Floor",
        "box": [
          647.84003,
          109.91199,
          666.92803,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unleveraged",
        "box": [
          714.46997,
          100.31202000000002,
          761.5579699999998,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Effective Yield",
        "box": [
          711.33002,
          109.91199,
          764.7060199999999,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Maturity",
        "box": [
          803.69,
          100.31202000000002,
          835.8260000000001,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Date",
        "box": [
          810.97998,
          109.91199,
          828.5239799999999,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Payment",
        "box": [
          873.65002,
          100.31202000000002,
          906.85802,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Terms 1",
        "box": [
          877.40997,
          109.38279,
          903.0827999999999,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Multifamily Loans:",
        "box": [
          38.63,
          128.36200000000002,
          106.38199999999999,
          135.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13",
        "box": [
          43.58,
          146.36200000000002,
          50.924,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          146.36200000000002,
          110.85400000000001,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NY",
        "box": [
          170.57001,
          146.36200000000002,
          181.18601,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "May 2022",
        "box": [
          229.25999,
          146.36200000000002,
          265.00398999999993,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$132.2",
        "box": [
          314.70001,
          146.36200000000002,
          337.45201000000003,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$132.2",
        "box": [
          399.45001,
          146.36200000000002,
          422.20201000000003,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$131.8",
        "box": [
          484.97,
          146.36200000000002,
          506.17000000000013,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.90%",
        "box": [
          563.14001,
          146.36200000000002,
          595.61399,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.2%",
        "box": [
          649.37,
          146.36200000000002,
          667.266,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.8%",
        "box": [
          730.26001,
          146.36200000000002,
          747.6200099999999,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jun 2027 2",
        "box": [
          801.52002,
          145.83280000000002,
          837.9824,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          146.36200000000002,
          896.02398,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14",
        "box": [
          43.41,
          164.36200000000002,
          51.081999999999994,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          164.36200000000002,
          110.85400000000001,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NY",
        "box": [
          170.57001,
          164.36200000000002,
          181.18601,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Feb 2026",
        "box": [
          229.98,
          164.36200000000002,
          264.292,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "100.0",
        "box": [
          315.37,
          164.36200000000002,
          334.89000000000004,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "84.0",
        "box": [
          401.59,
          164.36200000000002,
          418.15799999999996,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "83.1",
        "box": [
          487.72,
          164.36200000000002,
          501.53600000000006,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+2.45%",
        "box": [
          563.44,
          164.36200000000002,
          595.32998,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.0%",
        "box": [
          649.27002,
          164.36200000000002,
          667.37402,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.5%",
        "box": [
          729.98999,
          164.36200000000002,
          747.9019900000001,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mar 2029",
        "box": [
          802.17999,
          164.36200000000002,
          837.3399900000001,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          164.36200000000002,
          896.02398,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "15",
        "box": [
          43.62,
          182.36200000000002,
          50.884,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          182.36200000000002,
          110.85400000000001,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "TX",
        "box": [
          171.31,
          182.36200000000002,
          180.446,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Nov 2021",
        "box": [
          230.83,
          182.36200000000002,
          263.438,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "67.4",
        "box": [
          317.17999,
          182.36200000000002,
          333.06798999999995,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "67.4",
        "box": [
          401.92999,
          182.36200000000002,
          417.81798999999995,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "67.2",
        "box": [
          486.95001,
          182.36200000000002,
          502.30201,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+2.95%",
        "box": [
          563.46997,
          182.36200000000002,
          595.28794,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-%",
        "box": [
          650.71997,
          182.36200000000002,
          665.90397,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.2%",
        "box": [
          730.41998,
          182.36200000000002,
          747.4759799999999,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dec 2026",
        "box": [
          802.28998,
          182.36200000000002,
          837.21798,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "P/I",
        "box": [
          885.15997,
          182.36200000000002,
          895.3439700000001,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16",
        "box": [
          43.45,
          200.36200000000002,
          51.050000000000004,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          200.36200000000002,
          110.85400000000001,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "OH",
        "box": [
          169.92999,
          200.36200000000002,
          181.83399,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Sep 2023",
        "box": [
          229.91,
          200.36200000000002,
          264.358,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "57.8",
        "box": [
          317.47,
          200.36200000000002,
          332.7900000000001,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "57.3",
        "box": [
          402.26999,
          200.36200000000002,
          417.49399000000005,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "57.2",
        "box": [
          487.12,
          200.36200000000002,
          502.136,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.05%",
        "box": [
          563.31,
          200.36200000000002,
          595.4479699999999,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.5%",
        "box": [
          649.59998,
          200.36200000000002,
          667.0479799999999,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.1%",
        "box": [
          731.34003,
          200.36200000000002,
          746.5400299999999,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Oct 2026",
        "box": [
          802.75,
          200.36200000000002,
          836.766,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          200.36200000000002,
          896.02398,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17",
        "box": [
          43.81,
          218.36200000000002,
          50.682,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          218.36200000000002,
          110.85400000000001,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NC",
        "box": [
          170.16,
          218.36200000000002,
          181.592,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Oct 2025",
        "box": [
          230.3,
          218.36200000000002,
          263.98,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "50.0",
        "box": [
          316.91,
          218.36200000000002,
          333.34200000000004,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "50.0",
        "box": [
          401.66,
          218.36200000000002,
          418.09200000000004,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "49.7",
        "box": [
          486.67999,
          218.36200000000002,
          502.56798999999995,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+2.40%",
        "box": [
          563.21002,
          218.36200000000002,
          595.548,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.0%",
        "box": [
          649.27002,
          218.36200000000002,
          667.37402,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.6%",
        "box": [
          729.82001,
          218.36200000000002,
          748.0680100000001,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Oct 2027",
        "box": [
          803.12,
          218.36200000000002,
          836.4079999999999,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          218.36200000000002,
          896.02398,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18",
        "box": [
          43.53,
          236.36200000000002,
          50.97,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          236.36200000000002,
          110.85400000000001,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "MA",
        "box": [
          169.56,
          236.36200000000002,
          182.192,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Sep 2025",
        "box": [
          229.95,
          236.36200000000002,
          264.31800000000004,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "50.0",
        "box": [
          316.91,
          236.36200000000002,
          333.34200000000004,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "49.0",
        "box": [
          401.51001,
          236.36200000000002,
          418.23801,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "48.6",
        "box": [
          486.39999,
          236.36200000000002,
          502.85598999999996,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.10%",
        "box": [
          564.29999,
          236.36200000000002,
          594.4539599999999,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.8%",
        "box": [
          649.51001,
          236.36200000000002,
          667.1340099999999,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.3%",
        "box": [
          729.37,
          236.36200000000002,
          746.6339999999999,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Oct 2027",
        "box": [
          803.12,
          236.36200000000002,
          836.4079999999999,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          236.36200000000002,
          896.02398,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "19",
        "box": [
          43.45,
          254.36200000000002,
          51.050000000000004,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          254.36200000000002,
          110.85400000000001,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "TN",
        "box": [
          170.75999,
          254.36200000000002,
          180.99199,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Apr 2026",
        "box": [
          230.2,
          254.36200000000002,
          264.06399999999996,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "25.0",
        "box": [
          317.20001,
          254.36200000000002,
          333.05601,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "22.6",
        "box": [
          402.07001,
          254.36200000000002,
          417.68600999999995,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "22.3",
        "box": [
          486.95001,
          254.36200000000002,
          502.31001,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+2.55%",
        "box": [
          563.64001,
          254.36200000000002,
          595.12199,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.0%",
        "box": [
          649.27002,
          254.36200000000002,
          667.37402,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.6%",
        "box": [
          729.82001,
          254.36200000000002,
          748.0680100000001,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "May 2029",
        "box": [
          801.65002,
          254.36200000000002,
          837.8580200000001,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          254.36200000000002,
          896.02398,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20",
        "box": [
          42.47,
          272.362,
          52.038000000000004,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          272.362,
          110.85400000000001,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "TX",
        "box": [
          171.31,
          272.362,
          180.446,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Oct 2021",
        "box": [
          231.28999,
          272.362,
          262.99399,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18.2",
        "box": [
          318.32999,
          272.362,
          331.92999000000003,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18.2",
        "box": [
          403.07999,
          272.362,
          416.67999000000003,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18.2",
        "box": [
          487.82999,
          272.362,
          501.42999000000003,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+2.60%",
        "box": [
          563.25,
          272.362,
          595.51597,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-%",
        "box": [
          650.71997,
          272.362,
          665.90397,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.5%",
        "box": [
          729.98999,
          272.362,
          747.9019900000001,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jul 2026 3",
        "box": [
          802.53003,
          271.8328,
          836.97764,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          272.362,
          896.02398,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Multifamily",
        "box": [
          38.63,
          290.36199999999997,
          101.17399999999998,
          297.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$500.6",
        "box": [
          312.44,
          290.36199999999997,
          339.7039999999999,
          297.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$480.7",
        "box": [
          397.45001,
          290.36199999999997,
          424.2020099999999,
          297.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$478.1",
        "box": [
          483.29999,
          290.36199999999997,
          507.8359899999999,
          297.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Industrial Loans:",
        "box": [
          38.63,
          308.36199999999997,
          99.118,
          315.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "21",
        "box": [
          43.68,
          326.36199999999997,
          50.824000000000005,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          326.36199999999997,
          110.85400000000001,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "GA",
        "box": [
          170.16,
          326.36199999999997,
          181.584,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Oct 2025",
        "box": [
          230.3,
          326.36199999999997,
          263.98,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$100.5",
        "box": [
          314.16,
          326.36199999999997,
          337.9840000000001,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$96.9",
        "box": [
          400.17001,
          326.36199999999997,
          421.4660099999999,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$96.1",
        "box": [
          486.07999,
          326.36199999999997,
          505.06399,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+2.25%",
        "box": [
          563.71002,
          326.36199999999997,
          595.064,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.5%",
        "box": [
          649.59998,
          326.36199999999997,
          667.0479799999999,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.3%",
        "box": [
          729.95001,
          326.36199999999997,
          747.94201,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Oct 2028",
        "box": [
          802.83002,
          326.36199999999997,
          836.6860199999999,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          326.36199999999997,
          896.02398,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "22",
        "box": [
          42.76,
          344.36199999999997,
          51.752,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          344.36199999999997,
          110.85400000000001,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CA",
        "box": [
          170.3,
          344.36199999999997,
          181.44400000000002,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Oct 2025",
        "box": [
          230.3,
          344.36199999999997,
          263.98,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "55.2",
        "box": [
          317.42999,
          344.36199999999997,
          332.83799,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "55.2",
        "box": [
          402.17999,
          344.36199999999997,
          417.58799,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "54.8",
        "box": [
          486.57001,
          344.36199999999997,
          502.69001000000003,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.00%",
        "box": [
          563.09003,
          344.36199999999997,
          595.6759999999999,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.0%",
        "box": [
          649.27002,
          344.36199999999997,
          667.37402,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.0%",
        "box": [
          730.13,
          344.36199999999997,
          747.762,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Nov 2028",
        "box": [
          802.38,
          344.36199999999997,
          837.1399999999998,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          344.36199999999997,
          896.02398,
          351.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "23",
        "box": [
          42.65,
          362.36199999999997,
          51.85,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          362.36199999999997,
          110.85400000000001,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "MA",
        "box": [
          169.56,
          362.36199999999997,
          182.192,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jun 2023",
        "box": [
          230.12,
          362.36199999999997,
          264.16,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "46.5",
        "box": [
          316.98999,
          362.36199999999997,
          333.26998999999995,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "45.6",
        "box": [
          401.73999,
          362.36199999999997,
          418.01998999999995,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "45.5",
        "box": [
          486.66,
          362.36199999999997,
          502.60400000000004,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+2.90%",
        "box": [
          563.25,
          362.36199999999997,
          595.51597,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-%",
        "box": [
          650.71997,
          362.36199999999997,
          665.90397,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.7%",
        "box": [
          730.17999,
          362.36199999999997,
          747.69999,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jun 2028",
        "box": [
          802.69,
          362.36199999999997,
          836.8259999999999,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          362.36199999999997,
          896.02398,
          369.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "24",
        "box": [
          42.49,
          380.36199999999997,
          52.018,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          380.36199999999997,
          110.85400000000001,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NJ",
        "box": [
          170.86,
          380.36199999999997,
          180.88400000000001,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jun 2021",
        "box": [
          231.14999,
          380.36199999999997,
          263.13399000000004,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27.8",
        "box": [
          317.53,
          380.36199999999997,
          332.722,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27.8",
        "box": [
          402.28,
          380.36199999999997,
          417.472,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27.8",
        "box": [
          487.03,
          380.36199999999997,
          502.222,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+8.85%",
        "box": [
          563.40002,
          380.36199999999997,
          595.3619999999999,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.2%",
        "box": [
          649.37,
          380.36199999999997,
          667.266,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12.5%",
        "box": [
          728.90002,
          380.36199999999997,
          748.98802,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Nov 2024 4",
        "box": [
          800.63,
          379.8328,
          838.87078,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          380.36199999999997,
          896.02398,
          387.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "25",
        "box": [
          42.69,
          398.36199999999997,
          51.81,
          405.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Subordinated",
        "box": [
          74.99,
          398.36199999999997,
          123.79000000000002,
          405.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CA",
        "box": [
          170.3,
          398.36199999999997,
          181.44400000000002,
          405.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Aug 2019",
        "box": [
          230.31,
          398.36199999999997,
          263.958,
          405.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13.1",
        "box": [
          319.29999,
          398.36199999999997,
          330.95599000000004,
          405.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12.6",
        "box": [
          403.0,
          398.36199999999997,
          416.76,
          405.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10.9",
        "box": [
          487.45999,
          398.36199999999997,
          501.79599,
          405.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.85%",
        "box": [
          563.45001,
          398.36199999999997,
          595.3159899999999,
          405.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.0%",
        "box": [
          649.37,
          398.36199999999997,
          667.266,
          405.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-% 5",
        "box": [
          728.90997,
          397.8328,
          747.09557,
          405.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jan 2027",
        "box": [
          803.15997,
          398.36199999999997,
          836.36797,
          405.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          398.36199999999997,
          896.02398,
          405.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "26",
        "box": [
          42.52,
          416.36199999999997,
          51.976000000000006,
          423.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          416.36199999999997,
          110.85400000000001,
          423.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CA",
        "box": [
          170.3,
          416.36199999999997,
          181.44400000000002,
          423.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Aug 2019",
        "box": [
          230.31,
          416.36199999999997,
          263.958,
          423.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.0",
        "box": [
          319.64001,
          416.36199999999997,
          330.60801000000004,
          423.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.0",
        "box": [
          404.39001,
          416.36199999999997,
          415.35801000000004,
          423.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.0",
        "box": [
          489.14001,
          416.36199999999997,
          500.10801000000004,
          423.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.85%",
        "box": [
          563.45001,
          416.36199999999997,
          595.3159899999999,
          423.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.0%",
        "box": [
          649.37,
          416.36199999999997,
          667.266,
          423.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.5%",
        "box": [
          729.40997,
          416.36199999999997,
          746.59397,
          423.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jan 2027 5",
        "box": [
          801.65997,
          415.83281,
          837.84557,
          423.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          416.36199999999997,
          896.02398,
          423.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Industrial",
        "box": [
          38.63,
          434.36199999999997,
          93.902,
          441.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$250.1",
        "box": [
          313.67001,
          434.36199999999997,
          338.47000999999995,
          441.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$245.1",
        "box": [
          398.47,
          434.36199999999997,
          423.166,
          441.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$242.1",
        "box": [
          483.23001,
          434.36199999999997,
          507.91801,
          441.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "15",
        "box": [
          915.91998,
          497.66099,
          924.10098,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 16,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Loans Held for Investment Portfolio Details",
        "box": [
          36.0,
          45.71999999999997,
          613.836,
          72.60000000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of June 30, 2026 unless otherwise noted. Past performance is not indicative of future results. Due to rounding, numbers presented may not add up to the totals provided. 1) I/O = interest only, P/I = principal and interest. 2) The New York loan is structured as both a senior ",
        "box": [
          90.0,
          481.4734476,
          890.6019799999992,
          488.4971540427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and mezzanine loan with the Company holding contiguous positions. The senior and mezzanine positions each have a per annum interest rate of S + 8.95%. The senior and mezzanine loans were both on non-accrual status as of June 30, 2026 and the Unleveraged Effective ",
        "box": [
          90.0,
          490.1134376,
          891.0419799999992,
          497.1371440427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Yield is not applicable.",
        "box": [
          90.0,
          498.7534476,
          155.19199999999992,
          505.77715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in millions)",
        "box": [
          38.63,
          83.73200000000003,
          86.58999999999999,
          90.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "#",
        "box": [
          44.39,
          105.11200000000002,
          50.102000000000004,
          112.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Type",
        "box": [
          80.18,
          105.11200000000002,
          118.57200000000002,
          112.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Location",
        "box": [
          159.7,
          105.11200000000002,
          192.05999999999995,
          112.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Origination",
        "box": [
          226.3,
          100.31202000000002,
          267.94800000000004,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Date",
        "box": [
          238.36,
          109.91199,
          255.904,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Current Loan ",
        "box": [
          300.64999,
          100.31202000000002,
          351.1619900000001,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commitment",
        "box": [
          300.32999,
          109.91199,
          349.92199000000005,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Outstanding ",
        "box": [
          386.67999,
          100.31202000000002,
          434.63199000000003,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Principal",
        "box": [
          393.64999,
          109.91199,
          426.09799,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Carrying",
        "box": [
          478.45999,
          100.31202000000002,
          510.78799000000004,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Value",
        "box": [
          484.07999,
          109.91199,
          505.18399000000005,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest",
        "box": [
          564.87,
          100.31202000000002,
          593.886,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Rate",
        "box": [
          570.78003,
          109.91199,
          587.9800299999999,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SOFR",
        "box": [
          646.83002,
          100.31202000000002,
          667.9340199999999,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Floor",
        "box": [
          647.84003,
          109.91199,
          666.92803,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unleveraged",
        "box": [
          714.46997,
          100.31202000000002,
          761.5579699999998,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Effective Yield",
        "box": [
          711.33002,
          109.91199,
          764.7060199999999,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Maturity",
        "box": [
          803.69,
          100.31202000000002,
          835.8260000000001,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Date",
        "box": [
          810.97998,
          109.91199,
          828.5239799999999,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Payment",
        "box": [
          873.65002,
          100.31202000000002,
          906.85802,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Terms 1",
        "box": [
          877.40997,
          109.38279,
          903.0827999999999,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Residential/Condominium Loans:",
        "box": [
          38.63,
          128.36200000000002,
          162.17399999999998,
          135.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27",
        "box": [
          42.89,
          146.36200000000002,
          51.618,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          146.36200000000002,
          110.85400000000001,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NY",
        "box": [
          170.57001,
          146.36200000000002,
          181.18601,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mar 2022",
        "box": [
          229.78999,
          146.36200000000002,
          264.48598999999996,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$189.5",
        "box": [
          314.35001,
          146.36200000000002,
          337.79001000000005,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$189.5",
        "box": [
          399.10001,
          146.36200000000002,
          422.54001000000005,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$140.2",
        "box": [
          483.73999,
          146.36200000000002,
          507.39599,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+8.95%",
        "box": [
          563.32001,
          146.36200000000002,
          595.44198,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.4%",
        "box": [
          649.09998,
          146.36200000000002,
          667.53198,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-% 2",
        "box": [
          728.95001,
          145.83280000000002,
          747.0524,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dec 2026",
        "box": [
          802.28998,
          146.36200000000002,
          837.21798,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          146.36200000000002,
          896.02398,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Residential/Condominium",
        "box": [
          38.63,
          164.36200000000002,
          156.95800000000003,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$189.5",
        "box": [
          313.76999,
          164.36200000000002,
          338.36999,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$189.5",
        "box": [
          398.51999,
          164.36200000000002,
          423.11999,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$140.2",
        "box": [
          482.94,
          164.36200000000002,
          508.20399999999995,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mixed-Use Loans:",
        "box": [
          38.63,
          182.36200000000002,
          104.614,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "28",
        "box": [
          42.6,
          200.36200000000002,
          51.896,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          200.36200000000002,
          110.85400000000001,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "NY",
        "box": [
          170.57001,
          200.36200000000002,
          181.18601,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Feb 2026",
        "box": [
          229.98,
          200.36200000000002,
          264.292,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$34.2",
        "box": [
          315.75,
          200.36200000000002,
          336.39799999999997,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$29.9",
        "box": [
          400.39999,
          200.36200000000002,
          421.23198999999994,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$29.5",
        "box": [
          485.32001,
          200.36200000000002,
          505.81601,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.25%",
        "box": [
          563.59998,
          200.36200000000002,
          595.1619499999999,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.8%",
        "box": [
          649.51001,
          200.36200000000002,
          667.1340099999999,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.8%",
        "box": [
          730.26001,
          200.36200000000002,
          747.6200099999999,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jan 2028",
        "box": [
          802.87,
          200.36200000000002,
          836.646,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          200.36200000000002,
          896.02398,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Mixed-Use",
        "box": [
          38.63,
          218.36200000000002,
          99.398,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$34.2",
        "box": [
          315.26001,
          218.36200000000002,
          336.88401,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$29.9",
        "box": [
          400.01999,
          218.36200000000002,
          421.61999,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$29.5",
        "box": [
          484.89001,
          218.36200000000002,
          506.25001,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Retail Loans:",
        "box": [
          38.63,
          236.36200000000002,
          85.42200000000001,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "29",
        "box": [
          42.52,
          254.36200000000002,
          51.976000000000006,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          254.36200000000002,
          110.85400000000001,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CA",
        "box": [
          170.3,
          254.36200000000002,
          181.44400000000002,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mar 2026",
        "box": [
          229.55,
          254.36200000000002,
          264.71,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$75.0",
        "box": [
          315.89999,
          254.36200000000002,
          336.24399000000005,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$67.3",
        "box": [
          400.66,
          254.36200000000002,
          420.97200000000004,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$66.6",
        "box": [
          484.92001,
          254.36200000000002,
          506.2160099999999,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+2.75%",
        "box": [
          563.84003,
          254.36200000000002,
          594.93,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.5%",
        "box": [
          649.59998,
          254.36200000000002,
          667.0479799999999,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.8%",
        "box": [
          729.90002,
          254.36200000000002,
          747.98802,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mar 2029",
        "box": [
          802.17999,
          254.36200000000002,
          837.3399900000001,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          254.36200000000002,
          896.02398,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Retail",
        "box": [
          38.63,
          272.362,
          80.20599999999999,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$75.0",
        "box": [
          315.37,
          272.362,
          336.7779999999999,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$67.3",
        "box": [
          400.26001,
          272.362,
          421.38800999999995,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$66.6",
        "box": [
          484.64001,
          272.362,
          506.48801,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "16",
        "box": [
          915.53998,
          497.66099,
          924.0989800000001,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 17,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Loans Held for Investment Portfolio Details",
        "box": [
          36.0,
          45.71999999999997,
          613.836,
          72.60000000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of June 30, 2026 unless otherwise noted. Past performance is not indicative of future results. Due to rounding, numbers presented may not add up to the totals provided. 1) I/O = interest only, P/I = principal and interest. 2) In June 2026, the Company and the borrower ",
        "box": [
          90.0,
          490.1134376,
          890.7639899999991,
          497.1371440427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "entered into a modification and extension agreement to, among other things, extend the maturity date on the senior Indiana loan from June 2026 to August 2026. 3) The weighted average floor is calculated based on loans with SOFR floors.",
        "box": [
          90.0,
          498.7534476,
          781.9760000000002,
          505.77715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in millions)",
        "box": [
          38.63,
          83.73200000000003,
          86.58999999999999,
          90.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "#",
        "box": [
          44.39,
          105.11200000000002,
          50.102000000000004,
          112.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Type",
        "box": [
          80.18,
          105.11200000000002,
          118.57200000000002,
          112.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Location",
        "box": [
          159.7,
          105.11200000000002,
          192.05999999999995,
          112.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Origination",
        "box": [
          226.3,
          100.31202000000002,
          267.94800000000004,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Date",
        "box": [
          238.36,
          109.91199,
          255.904,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Current Loan ",
        "box": [
          300.64999,
          100.31202000000002,
          351.1619900000001,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commitment",
        "box": [
          300.32999,
          109.91199,
          349.92199000000005,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Outstanding ",
        "box": [
          386.67999,
          100.31202000000002,
          434.63199000000003,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Principal",
        "box": [
          393.64999,
          109.91199,
          426.09799,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Carrying",
        "box": [
          478.45999,
          100.31202000000002,
          510.78799000000004,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Value",
        "box": [
          484.07999,
          109.91199,
          505.18399000000005,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest",
        "box": [
          564.87,
          100.31202000000002,
          593.886,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Rate",
        "box": [
          570.78003,
          109.91199,
          587.9800299999999,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SOFR",
        "box": [
          646.83002,
          100.31202000000002,
          667.9340199999999,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Floor",
        "box": [
          647.84003,
          109.91199,
          666.92803,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Unleveraged",
        "box": [
          714.46997,
          100.31202000000002,
          761.5579699999998,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Effective Yield",
        "box": [
          711.33002,
          109.91199,
          764.7060199999999,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Maturity",
        "box": [
          803.69,
          100.31202000000002,
          835.8260000000001,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Date",
        "box": [
          810.97998,
          109.91199,
          828.5239799999999,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Payment",
        "box": [
          873.65002,
          100.31202000000002,
          906.85802,
          107.50617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Terms 1",
        "box": [
          877.40997,
          109.38279,
          903.0827999999999,
          117.10614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Self Storage Loans:",
        "box": [
          38.63,
          128.36200000000002,
          109.56600000000002,
          135.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "30",
        "box": [
          42.36,
          146.36200000000002,
          52.136,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          146.36200000000002,
          110.85400000000001,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diversified",
        "box": [
          157.28999,
          146.36200000000002,
          194.48199000000002,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dec 2025",
        "box": [
          229.84,
          146.36200000000002,
          264.432,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$72.5",
        "box": [
          316.19,
          146.36200000000002,
          335.958,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$70.6",
        "box": [
          400.48001,
          146.36200000000002,
          421.16001,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$70.0",
        "box": [
          485.17001,
          146.36200000000002,
          505.96201,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+2.50%",
        "box": [
          563.41998,
          146.36200000000002,
          595.34996,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.8%",
        "box": [
          649.51001,
          146.36200000000002,
          667.1340099999999,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.5%",
        "box": [
          729.98999,
          146.36200000000002,
          747.9019900000001,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dec 2028",
        "box": [
          802.37,
          146.36200000000002,
          837.1379999999999,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          146.36200000000002,
          896.02398,
          153.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "31",
        "box": [
          43.58,
          164.36200000000002,
          50.932,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          164.36200000000002,
          110.85400000000001,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diversified",
        "box": [
          157.28999,
          164.36200000000002,
          194.48199000000002,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Apr 2026",
        "box": [
          230.2,
          164.36200000000002,
          264.06399999999996,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "69.7",
        "box": [
          317.22,
          164.36200000000002,
          333.036,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "65.0",
        "box": [
          401.72,
          164.36200000000002,
          418.04,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "64.3",
        "box": [
          486.45001,
          164.36200000000002,
          502.81001,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+2.70%",
        "box": [
          563.60999,
          164.36200000000002,
          595.1479599999999,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.8%",
        "box": [
          649.51001,
          164.36200000000002,
          667.1340099999999,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.7%",
        "box": [
          730.17999,
          164.36200000000002,
          747.69999,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "May 2029",
        "box": [
          801.65002,
          164.36200000000002,
          837.8580200000001,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          164.36200000000002,
          896.02398,
          171.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "32",
        "box": [
          42.65,
          182.36200000000002,
          51.85,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          182.36200000000002,
          110.85400000000001,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FL",
        "box": [
          171.56,
          182.36200000000002,
          180.184,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jul 2025",
        "box": [
          231.60001,
          182.36200000000002,
          262.68001000000004,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12.3",
        "box": [
          318.38,
          182.36200000000002,
          331.884,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12.3",
        "box": [
          403.13,
          182.36200000000002,
          416.634,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12.3",
        "box": [
          487.88,
          182.36200000000002,
          501.384,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.25%",
        "box": [
          563.59998,
          182.36200000000002,
          595.1619499999999,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.0%",
        "box": [
          650.29999,
          182.36200000000002,
          666.33999,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.0%",
        "box": [
          730.13,
          182.36200000000002,
          747.762,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dec 2027",
        "box": [
          802.65997,
          182.36200000000002,
          836.85997,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          182.36200000000002,
          896.02398,
          189.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "33",
        "box": [
          42.55,
          200.36200000000002,
          51.958,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          200.36200000000002,
          110.85400000000001,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "IN",
        "box": [
          172.09,
          200.36200000000002,
          179.65,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Sep 2023",
        "box": [
          229.91,
          200.36200000000002,
          264.358,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11.4",
        "box": [
          319.14001,
          200.36200000000002,
          331.1160100000001,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11.4",
        "box": [
          403.89001,
          200.36200000000002,
          415.8660100000001,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11.4",
        "box": [
          488.64001,
          200.36200000000002,
          500.6160100000001,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.60%",
        "box": [
          563.14001,
          200.36200000000002,
          595.61399,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.9%",
        "box": [
          649.14001,
          200.36200000000002,
          667.50001,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.5%",
        "box": [
          730.34998,
          200.36200000000002,
          747.5339799999999,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Aug 2026 2",
        "box": [
          800.54999,
          199.83280000000002,
          838.9523700000001,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          200.36200000000002,
          896.02398,
          207.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "34",
        "box": [
          42.38,
          218.36200000000002,
          52.116,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          218.36200000000002,
          110.85400000000001,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "AZ",
        "box": [
          170.84,
          218.36200000000002,
          180.912,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jul 2025",
        "box": [
          231.60001,
          218.36200000000002,
          262.68001000000004,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11.2",
        "box": [
          319.41,
          218.36200000000002,
          330.8500000000001,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10.8",
        "box": [
          402.79001,
          218.36200000000002,
          416.96601000000004,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10.8",
        "box": [
          487.54001,
          218.36200000000002,
          501.71601000000004,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.25%",
        "box": [
          563.59998,
          218.36200000000002,
          595.1619499999999,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.0%",
        "box": [
          649.27002,
          218.36200000000002,
          667.37402,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.2%",
        "box": [
          730.41998,
          218.36200000000002,
          747.4759799999999,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Feb 2028",
        "box": [
          802.67999,
          218.36200000000002,
          836.8319899999998,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          218.36200000000002,
          896.02398,
          225.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "35",
        "box": [
          42.59,
          236.36200000000002,
          51.918000000000006,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          236.36200000000002,
          110.85400000000001,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FL",
        "box": [
          171.56,
          236.36200000000002,
          180.184,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jul 2025",
        "box": [
          231.60001,
          236.36200000000002,
          262.68001000000004,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9.9",
        "box": [
          319.32999,
          236.36200000000002,
          330.91398999999996,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9.6",
        "box": [
          404.07999,
          236.36200000000002,
          415.66398999999996,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9.6",
        "box": [
          488.82999,
          236.36200000000002,
          500.41398999999996,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.75%",
        "box": [
          563.72998,
          236.36200000000002,
          595.0279499999999,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.0%",
        "box": [
          649.27002,
          236.36200000000002,
          667.37402,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.5%",
        "box": [
          730.34998,
          236.36200000000002,
          747.5339799999999,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jun 2028",
        "box": [
          802.69,
          236.36200000000002,
          836.8259999999999,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          236.36200000000002,
          896.02398,
          243.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "36",
        "box": [
          42.42,
          254.36200000000002,
          52.084,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          254.36200000000002,
          110.85400000000001,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "PA",
        "box": [
          170.74001,
          254.36200000000002,
          181.01201,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Jul 2025",
        "box": [
          231.60001,
          254.36200000000002,
          262.68001000000004,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9.1",
        "box": [
          320.48999,
          254.36200000000002,
          329.76198999999997,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.9",
        "box": [
          404.16,
          254.36200000000002,
          415.584,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8.9",
        "box": [
          488.91,
          254.36200000000002,
          500.334,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.50%",
        "box": [
          563.31,
          254.36200000000002,
          595.4479699999999,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.0%",
        "box": [
          649.37,
          254.36200000000002,
          667.266,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.5%",
        "box": [
          730.34998,
          254.36200000000002,
          747.5339799999999,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "May 2028",
        "box": [
          801.72998,
          254.36200000000002,
          837.77798,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          254.36200000000002,
          896.02398,
          261.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "37",
        "box": [
          42.78,
          272.362,
          51.716,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          272.362,
          110.85400000000001,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "MA",
        "box": [
          169.56,
          272.362,
          182.192,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Apr 2022",
        "box": [
          230.44,
          272.362,
          263.84,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.7",
        "box": [
          320.06,
          272.362,
          330.18800000000005,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.7",
        "box": [
          404.81,
          272.362,
          414.93800000000005,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.7",
        "box": [
          489.56,
          272.362,
          499.68800000000005,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.00%",
        "box": [
          563.09003,
          272.362,
          595.6759999999999,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.8%",
        "box": [
          649.21997,
          272.362,
          667.4199699999999,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6.9%",
        "box": [
          729.82001,
          272.362,
          748.0680100000001,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Nov 2026",
        "box": [
          802.29999,
          272.362,
          837.2199899999998,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          272.362,
          896.02398,
          279.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "38",
        "box": [
          42.5,
          290.36199999999997,
          52.004,
          297.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Senior",
        "box": [
          87.91,
          290.36199999999997,
          110.85400000000001,
          297.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "FL",
        "box": [
          171.56,
          290.36199999999997,
          180.184,
          297.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Oct 2025",
        "box": [
          230.3,
          290.36199999999997,
          263.98,
          297.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.3",
        "box": [
          319.82999,
          290.36199999999997,
          330.42999000000003,
          297.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.1",
        "box": [
          405.60999,
          290.36199999999997,
          414.15399,
          297.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.1",
        "box": [
          490.35999,
          290.36199999999997,
          498.90399,
          297.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "S+3.50%",
        "box": [
          563.31,
          290.36199999999997,
          595.4479699999999,
          297.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.0%",
        "box": [
          649.27002,
          290.36199999999997,
          667.37402,
          297.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7.5%",
        "box": [
          730.34998,
          290.36199999999997,
          747.5339799999999,
          297.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Apr 2028",
        "box": [
          802.90997,
          290.36199999999997,
          836.61397,
          297.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "I/O",
        "box": [
          884.47998,
          290.36199999999997,
          896.02398,
          297.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Self Storage",
        "box": [
          38.63,
          308.36199999999997,
          104.35000000000001,
          315.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$211.1",
        "box": [
          315.60001,
          308.36199999999997,
          336.53601000000003,
          315.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$203.4",
        "box": [
          397.35001,
          308.36199999999997,
          424.30200999999994,
          315.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$202.1",
        "box": [
          483.17999,
          308.36199999999997,
          507.97198999999995,
          315.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loan Portfolio Total/Weighted Average",
        "box": [
          38.63,
          326.36199999999997,
          184.22999999999996,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,925.5",
        "box": [
          310.48999,
          326.36199999999997,
          341.64198999999996,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,840.2",
        "box": [
          394.79001,
          326.36199999999997,
          426.85400999999996,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,748.8",
        "box": [
          479.89999,
          326.36199999999997,
          511.24398999999994,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.7% 3",
        "box": [
          647.77002,
          325.8328,
          666.98525,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.7%",
        "box": [
          730.07001,
          326.36199999999997,
          747.81401,
          333.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17",
        "box": [
          916.35999,
          497.66099,
          924.09999,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 18,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Consolidated Balance Sheets",
        "box": [
          36.0,
          45.71999999999997,
          417.64000000000004,
          72.60000000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u00a0",
        "box": [
          38.63,
          82.99201000000005,
          40.190000000000005,
          90.18616384615387
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of",
        "box": [
          803.25,
          82.99201000000005,
          822.002,
          90.18616384615387
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in thousands, except share and per share data)",
        "box": [
          38.63,
          95.74201000000005,
          212.50199999999998,
          102.93616384615387
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6/30/2026",
        "box": [
          731.94,
          95.74201000000005,
          774.8199999999997,
          102.93616384615387
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12/31/2025",
        "box": [
          850.23999,
          95.74201000000005,
          893.5279899999996,
          102.93616384615387
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "ASSETS",
        "box": [
          38.63,
          108.86200000000002,
          68.438,
          116.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Cash and cash equivalents",
        "box": [
          44.63,
          122.38199000000003,
          139.19800000000004,
          129.57614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          699.38,
          122.38199000000003,
          705.8919999999999,
          129.57614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17,558 ",
        "box": [
          784.252,
          122.38199000000003,
          808.6279999999999,
          129.57614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          817.88,
          122.38199000000003,
          824.3919999999999,
          129.57614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "29,289 ",
        "box": [
          899.9599999999999,
          122.38199000000003,
          927.1279999999999,
          129.57614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Restricted cash ($1,108 related to consolidated VIEs as of December 31, 2025)",
        "box": [
          44.63,
          136.59199,
          317.59,
          143.78614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          699.38,
          136.59199,
          701.14,
          143.78614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "41,017 ",
        "box": [
          785.548,
          136.59199,
          808.62,
          143.78614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          817.88,
          136.59199,
          819.64,
          143.78614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "37,868 ",
        "box": [
          900.168,
          136.59199,
          927.1199999999999,
          143.78614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans held for investment ($138,950 related to consolidated VIEs as of December 31, 2025)",
        "box": [
          44.63,
          150.13199000000003,
          365.87800000000004,
          157.32614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          699.38,
          150.13199000000003,
          701.14,
          157.32614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,748,835 ",
        "box": [
          772.644,
          150.13199000000003,
          808.6279999999999,
          157.32614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          817.88,
          150.13199000000003,
          819.64,
          157.32614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,528,806 ",
        "box": [
          890.584,
          150.13199000000003,
          927.1279999999999,
          157.32614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Current expected credit loss reserve",
        "box": [
          44.63,
          163.63199000000003,
          173.95800000000008,
          170.82614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          699.38,
          163.63199000000003,
          701.14,
          170.82614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(137,810) ",
        "box": [
          779.004,
          163.63199000000003,
          810.6919999999999,
          170.82614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          817.88,
          163.63199000000003,
          819.64,
          170.82614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(125,756) ",
        "box": [
          896.024,
          163.63199000000003,
          929.2,
          170.82614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Loans held for investment, net of current expected credit loss reserve",
        "box": [
          44.63,
          177.13199000000003,
          290.22999999999996,
          184.32614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          699.38,
          177.13199000000003,
          701.14,
          184.32614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,611,025 ",
        "box": [
          776.404,
          177.13199000000003,
          808.628,
          184.32614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          817.88,
          177.13199000000003,
          819.64,
          184.32614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,403,050 ",
        "box": [
          889.768,
          177.13199000000003,
          927.1360000000001,
          184.32614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real estate owned held for investment, net ($52,634 related to consolidated VIEs as of December 31, 2025)",
        "box": [
          44.63,
          190.63199000000003,
          422.1420000000002,
          197.82614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          699.38,
          190.63199000000003,
          701.14,
          197.82614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "76,238 ",
        "box": [
          781.98,
          190.63199000000003,
          808.6279999999999,
          197.82614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          817.88,
          190.63199000000003,
          819.64,
          197.82614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "130,165 ",
        "box": [
          899.024,
          190.63199000000003,
          927.12,
          197.82614384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Real estate owned held for sale",
        "box": [
          44.63,
          204.84199,
          154.97400000000005,
          212.03614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          699.38,
          204.84199,
          701.14,
          212.03614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "53,934 ",
        "box": [
          781.148,
          204.84199,
          808.628,
          212.03614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          817.88,
          204.84199,
          819.64,
          212.03614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          916.824,
          204.84199,
          927.1039999999999,
          212.03614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other assets ($76 of interest receivable related to consolidated VIEs as of December 31, 2025)",
        "box": [
          44.63,
          219.09199,
          375.90999999999997,
          226.28614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          699.38,
          219.09199,
          701.14,
          226.28614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17,503 ",
        "box": [
          783.9,
          219.09199,
          808.6279999999999,
          226.28614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          817.88,
          219.09199,
          819.64,
          226.28614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "17,770 ",
        "box": [
          903.256,
          219.09199,
          927.1199999999999,
          226.28614384615383
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total assets",
        "box": [
          38.63,
          232.61200000000002,
          82.694,
          239.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          699.38,
          232.61200000000002,
          705.876,
          239.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,817,275 ",
        "box": [
          773.46,
          232.61200000000002,
          808.4199999999997,
          239.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          817.88,
          232.61200000000002,
          824.376,
          239.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,618,142 ",
        "box": [
          892.336,
          232.61200000000002,
          926.9279999999998,
          239.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LIABILITIES AND STOCKHOLDERS' EQUITY",
        "box": [
          38.63,
          246.11200000000002,
          198.43,
          253.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "LIABILITIES",
        "box": [
          38.63,
          259.612,
          81.45400000000001,
          266.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Secured funding agreements",
        "box": [
          44.63,
          273.112,
          148.94200000000006,
          280.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          699.38,
          273.112,
          705.8919999999999,
          280.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,173,027 ",
        "box": [
          775.468,
          273.112,
          808.6359999999999,
          280.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          817.88,
          273.112,
          824.3919999999999,
          280.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "858,176 ",
        "box": [
          897.608,
          273.112,
          927.1199999999999,
          280.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Secured term loan",
        "box": [
          45.38,
          286.98199999999997,
          111.20400000000004,
          294.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          699.38,
          286.98199999999997,
          701.14,
          294.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "89,722 ",
        "box": [
          782.188,
          286.98199999999997,
          808.6279999999999,
          294.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          817.88,
          286.98199999999997,
          819.64,
          294.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "89,360 ",
        "box": [
          899.168,
          286.98199999999997,
          927.12,
          294.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Collateralized loan obligation securitization debt (consolidated VIEs)",
        "box": [
          44.63,
          300.86199999999997,
          284.04600000000005,
          308.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          699.38,
          300.86199999999997,
          701.14,
          308.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          798.324,
          300.86199999999997,
          808.6039999999999,
          308.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          817.88,
          300.86199999999997,
          819.64,
          308.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "99,921 ",
        "box": [
          901.648,
          300.86199999999997,
          927.1200000000001,
          308.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Due to affiliate ",
        "box": [
          45.38,
          314.36199999999997,
          98.196,
          321.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          699.38,
          314.36199999999997,
          701.14,
          321.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,199 ",
        "box": [
          787.564,
          314.36199999999997,
          808.6120000000001,
          321.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          817.88,
          314.36199999999997,
          819.64,
          321.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,061 ",
        "box": [
          905.96,
          314.36199999999997,
          927.1200000000001,
          321.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dividends payable",
        "box": [
          44.63,
          327.86199999999997,
          109.438,
          335.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          699.38,
          327.86199999999997,
          701.14,
          335.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8,458 ",
        "box": [
          785.908,
          327.86199999999997,
          808.62,
          335.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          817.88,
          327.86199999999997,
          819.64,
          335.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8,442 ",
        "box": [
          904.304,
          327.86199999999997,
          927.12,
          335.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Other liabilities ($257 of interest payable related to consolidated VIEs as of December 31, 2025)",
        "box": [
          45.38,
          341.36199999999997,
          379.82,
          348.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          699.38,
          341.36199999999997,
          701.14,
          348.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "52,644 ",
        "box": [
          781.028,
          341.36199999999997,
          808.6280000000002,
          348.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          817.88,
          341.36199999999997,
          819.64,
          348.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "48,614 ",
        "box": [
          901.2,
          341.36199999999997,
          927.1200000000001,
          348.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total liabilities",
        "box": [
          38.63,
          354.86199999999997,
          91.51799999999999,
          362.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          699.38,
          354.86199999999997,
          700.9399999999999,
          362.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,328,050 ",
        "box": [
          770.068,
          354.86199999999997,
          808.4279999999997,
          362.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          817.88,
          354.86199999999997,
          819.4399999999999,
          362.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,108,574 ",
        "box": [
          890.64,
          354.86199999999997,
          926.9279999999998,
          362.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commitments and contingencies",
        "box": [
          38.63,
          368.73199999999997,
          157.38200000000003,
          375.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "STOCKHOLDERS' EQUITY",
        "box": [
          38.63,
          382.61199999999997,
          135.406,
          389.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Common stock, par value $0.01 per share, 450,000,000 shares authorized at June 30, 2026 and December 31, 2025 and 55,481,113 and 55,026,453 shares issued and outstanding at ",
        "box": [
          45.38,
          394.74201,
          689.4919999999994,
          401.9361638461538
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "June 30, 2026 and December 31, 2025, respectively",
        "box": [
          45.38,
          402.74201,
          229.6280000000001,
          409.9361638461538
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          699.38,
          398.73199999999997,
          701.14,
          405.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "532 ",
        "box": [
          793.036,
          398.73199999999997,
          808.6199999999999,
          405.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          817.88,
          398.73199999999997,
          819.64,
          405.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "532 ",
        "box": [
          911.536,
          398.73199999999997,
          927.1199999999999,
          405.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Additional paid-in capital",
        "box": [
          44.63,
          414.49201,
          132.782,
          421.6861638461538
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          699.38,
          414.49201,
          701.14,
          421.6861638461538
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "822,606 ",
        "box": [
          776.388,
          414.49201,
          808.628,
          421.6861638461538
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          817.88,
          414.49201,
          819.64,
          421.6861638461538
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "820,827 ",
        "box": [
          895.776,
          414.49201,
          927.1279999999998,
          421.6861638461538
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Accumulated earnings (deficit)",
        "box": [
          44.63,
          427.24201,
          153.29400000000004,
          434.4361638461538
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          699.38,
          427.24201,
          701.14,
          434.4361638461538
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(333,913) ",
        "box": [
          776.684,
          427.24201,
          810.6999999999998,
          434.4361638461538
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          817.88,
          427.24201,
          819.64,
          434.4361638461538
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(311,791) ",
        "box": [
          899.776,
          427.24201,
          929.1919999999999,
          434.4361638461538
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total stockholders' equity",
        "box": [
          38.63,
          440.36199999999997,
          134.07000000000002,
          447.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          699.38,
          440.36199999999997,
          700.9399999999999,
          447.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "489,225 ",
        "box": [
          775.564,
          440.36199999999997,
          808.4119999999998,
          447.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          817.88,
          440.36199999999997,
          819.4399999999999,
          447.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "509,568 ",
        "box": [
          893.704,
          440.36199999999997,
          926.9119999999998,
          447.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total liabilities and stockholders' equity",
        "box": [
          38.63,
          454.23199999999997,
          183.57399999999996,
          461.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          699.38,
          454.23199999999997,
          705.876,
          461.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,817,275 ",
        "box": [
          773.46,
          454.23199999999997,
          808.4199999999997,
          461.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          817.88,
          454.23199999999997,
          824.376,
          461.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,618,142 ",
        "box": [
          892.336,
          454.23199999999997,
          926.9279999999998,
          461.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "18",
        "box": [
          915.71997,
          497.66099,
          924.09897,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 19,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Consolidated Statements of Operations",
        "box": [
          36.0,
          45.71999999999997,
          559.0960000000001,
          72.60000000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1) There is no assurance dividends will continue at these levels or at all.",
        "box": [
          90.0,
          498.7534476,
          298.3200000000001,
          505.77715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "For the Three Months Ended",
        "box": [
          617.22998,
          98.85200000000003,
          722.3179799999992,
          106.04615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in thousands, except share and per share data)",
        "box": [
          38.63,
          113.10200000000003,
          212.50199999999998,
          120.29615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6/30/2026",
        "box": [
          444.32001,
          113.10200000000003,
          487.2000100000001,
          120.29615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3/31/2026",
        "box": [
          547.52002,
          113.10200000000003,
          587.9840199999996,
          120.29615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12/31/2025",
        "box": [
          648.10999,
          113.10200000000003,
          691.3979899999996,
          120.29615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9/30/2025",
        "box": [
          750.44,
          113.10200000000003,
          793.0799999999997,
          120.29615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6/30/2025",
        "box": [
          852.44,
          113.10200000000003,
          895.0799999999997,
          120.29615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Revenue:",
        "box": [
          38.63,
          126.61200000000002,
          73.078,
          133.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest income",
        "box": [
          44.63,
          139.75202000000002,
          100.318,
          146.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          417.38,
          139.75202000000002,
          423.892,
          146.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "27,754  $ ",
        "box": [
          489.63599999999997,
          139.75202000000002,
          525.8919999999999,
          146.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "24,906  $ ",
        "box": [
          589.732,
          139.75202000000002,
          627.8919999999999,
          146.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "23,732  $ ",
        "box": [
          693.6279999999999,
          139.75202000000002,
          729.8919999999999,
          146.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "23,261 ",
        "box": [
          796.9559999999999,
          139.75202000000002,
          821.7079999999999,
          146.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          825.38,
          139.75202000000002,
          831.8919999999999,
          146.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "23,117 ",
        "box": [
          901.54,
          139.75202000000002,
          923.7079999999999,
          146.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Interest expense",
        "box": [
          44.63,
          152.50202000000002,
          103.55799999999999,
          159.69617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          152.50202000000002,
          419.14,
          159.69617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(19,182)   ",
        "box": [
          490.63599999999997,
          152.50202000000002,
          521.14,
          159.69617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(17,361)   ",
        "box": [
          592.996,
          152.50202000000002,
          623.14,
          159.69617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(16,078)   ",
        "box": [
          692.468,
          152.50202000000002,
          725.14,
          159.69617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(14,790)   ",
        "box": [
          794.236,
          152.50202000000002,
          827.14,
          159.69617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(16,101) ",
        "box": [
          900.22,
          152.50202000000002,
          925.772,
          159.69617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net interest margin",
        "box": [
          50.63,
          166.00202000000002,
          119.28600000000002,
          173.19617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          166.00202000000002,
          419.14,
          173.19617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8,572 ",
        "box": [
          494.09999999999997,
          166.00202000000002,
          515.7080000000001,
          173.19617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          519.38,
          166.00202000000002,
          521.14,
          173.19617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7,545 ",
        "box": [
          595.74,
          166.00202000000002,
          617.7080000000001,
          173.19617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          621.38,
          166.00202000000002,
          623.14,
          173.19617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7,654   ",
        "box": [
          697.396,
          166.00202000000002,
          725.14,
          173.19617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8,471 ",
        "box": [
          801.54,
          166.00202000000002,
          821.6999999999999,
          173.19617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          825.38,
          166.00202000000002,
          827.14,
          173.19617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7,016 ",
        "box": [
          903.34,
          166.00202000000002,
          923.7,
          173.19617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Revenue from real estate owned",
        "box": [
          44.63,
          178.75202000000002,
          159.91800000000003,
          185.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          178.75202000000002,
          419.14,
          185.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,784   ",
        "box": [
          493.556,
          178.75202000000002,
          521.14,
          185.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,915 ",
        "box": [
          597.396,
          178.75202000000002,
          617.7,
          185.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          621.38,
          178.75202000000002,
          623.14,
          185.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,562   ",
        "box": [
          697.548,
          178.75202000000002,
          725.14,
          185.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,634   ",
        "box": [
          798.924,
          178.75202000000002,
          827.14,
          185.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,549 ",
        "box": [
          901.004,
          178.75202000000002,
          923.7000000000002,
          185.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total revenue",
        "box": [
          38.63,
          191.48200000000003,
          87.31,
          198.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          191.48200000000003,
          419.14,
          198.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14,356 ",
        "box": [
          490.284,
          191.48200000000003,
          515.7,
          198.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          519.38,
          191.48200000000003,
          521.14,
          198.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13,460   ",
        "box": [
          591.836,
          191.48200000000003,
          623.14,
          198.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "13,216 ",
        "box": [
          696.804,
          191.48200000000003,
          719.6999999999999,
          198.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          723.38,
          191.48200000000003,
          725.14,
          198.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "14,105 ",
        "box": [
          798.236,
          191.48200000000003,
          821.7,
          198.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12,565",
        "box": [
          899.09998,
          191.48200000000003,
          922.13998,
          198.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Expenses:",
        "box": [
          38.63,
          204.61200000000002,
          75.742,
          211.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Management and incentive fees to affiliate",
        "box": [
          44.63,
          217.75202000000002,
          195.5660000000001,
          224.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          217.75202000000002,
          419.14,
          224.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,394   ",
        "box": [
          493.06,
          217.75202000000002,
          521.14,
          224.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,400   ",
        "box": [
          594.5799999999999,
          217.75202000000002,
          623.14,
          224.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,420   ",
        "box": [
          697.156,
          217.75202000000002,
          725.14,
          224.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,420   ",
        "box": [
          799.156,
          217.75202000000002,
          827.14,
          224.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,430 ",
        "box": [
          900.948,
          217.75202000000002,
          923.708,
          224.94617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Professional fees",
        "box": [
          44.63,
          230.50202000000002,
          105.03,
          237.69617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          230.50202000000002,
          419.14,
          237.69617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "699   ",
        "box": [
          499.044,
          230.50202000000002,
          521.14,
          237.69617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "819 ",
        "box": [
          603.524,
          230.50202000000002,
          617.684,
          237.69617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          621.38,
          230.50202000000002,
          623.14,
          237.69617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "678   ",
        "box": [
          703.9399999999999,
          230.50202000000002,
          725.14,
          237.69617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "526 ",
        "box": [
          805.86,
          230.50202000000002,
          821.7,
          237.69617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "673",
        "box": [
          908.22998,
          230.50202000000002,
          922.1259799999999,
          237.69617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "General and administrative expenses",
        "box": [
          44.63,
          243.25202000000002,
          175.6220000000001,
          250.44617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          243.25202000000002,
          419.14,
          250.44617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,723 ",
        "box": [
          496.18,
          243.25202000000002,
          515.7080000000001,
          250.44617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          519.38,
          243.25202000000002,
          521.14,
          250.44617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,417 ",
        "box": [
          599.7,
          243.25202000000002,
          617.7,
          250.44617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          621.38,
          243.25202000000002,
          623.14,
          250.44617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,595 ",
        "box": [
          699.396,
          243.25202000000002,
          719.7,
          250.44617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          723.38,
          243.25202000000002,
          725.14,
          250.44617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,733 ",
        "box": [
          801.9639999999999,
          243.25202000000002,
          821.6999999999998,
          250.44617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          825.38,
          243.25202000000002,
          827.14,
          250.44617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,995 ",
        "box": [
          903.06,
          243.25202000000002,
          923.7,
          250.44617384615384
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "General and administrative expenses reimbursed to affiliate",
        "box": [
          44.63,
          256.75199000000003,
          255.23800000000014,
          263.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          256.75199000000003,
          419.14,
          263.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "853   ",
        "box": [
          499.804,
          256.75199000000003,
          521.14,
          263.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "787   ",
        "box": [
          602.668,
          256.75199000000003,
          623.14,
          263.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "810 ",
        "box": [
          705.42,
          256.75199000000003,
          719.6919999999999,
          263.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          723.38,
          256.75199000000003,
          725.14,
          263.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "781 ",
        "box": [
          808.26,
          256.75199000000003,
          821.6919999999999,
          263.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          825.38,
          256.75199000000003,
          827.14,
          263.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,024 ",
        "box": [
          903.004,
          256.75199000000003,
          923.7,
          263.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Expenses from real estate owned",
        "box": [
          44.63,
          269.50199000000003,
          162.25400000000002,
          276.69614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          269.50199000000003,
          419.14,
          276.69614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,301 ",
        "box": [
          495.12399999999997,
          269.50199000000003,
          515.6999999999999,
          276.69614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          519.38,
          269.50199000000003,
          521.14,
          276.69614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,134 ",
        "box": [
          597.164,
          269.50199000000003,
          617.6999999999999,
          276.69614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          621.38,
          269.50199000000003,
          623.14,
          276.69614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,495   ",
        "box": [
          696.596,
          269.50199000000003,
          725.14,
          276.69614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,540   ",
        "box": [
          798.4839999999999,
          269.50199000000003,
          827.14,
          276.69614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,628 ",
        "box": [
          900.956,
          269.50199000000003,
          923.7,
          276.69614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total expenses",
        "box": [
          50.63,
          282.25199000000003,
          103.758,
          289.44614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          282.25199000000003,
          419.14,
          289.44614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8,970   ",
        "box": [
          493.18,
          282.25199000000003,
          521.14,
          289.44614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8,557 ",
        "box": [
          595.9639999999999,
          282.25199000000003,
          617.6999999999999,
          289.44614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          621.38,
          282.25199000000003,
          623.14,
          289.44614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9,998   ",
        "box": [
          696.556,
          282.25199000000003,
          725.14,
          289.44614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10,000   ",
        "box": [
          795.316,
          282.25199000000003,
          827.14,
          289.44614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "10,750 ",
        "box": [
          898.604,
          282.25199000000003,
          923.7,
          289.44614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(Provision for) reversal of current expected credit losses, net",
        "box": [
          44.63,
          295.75199,
          256.4620000000001,
          302.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          295.75199,
          419.14,
          302.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(865)   ",
        "box": [
          497.476,
          295.75199,
          521.14,
          302.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(11,138)   ",
        "box": [
          594.748,
          295.75199,
          623.14,
          302.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(9,835)   ",
        "box": [
          695.084,
          295.75199,
          725.14,
          302.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,190 ",
        "box": [
          801.076,
          295.75199,
          821.7,
          302.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          825.38,
          295.75199,
          827.14,
          302.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20,150 ",
        "box": [
          898.348,
          295.75199,
          923.708,
          302.94614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Realized losses on loans",
        "box": [
          44.63,
          308.50199,
          129.87000000000003,
          315.69614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          308.50199,
          419.14,
          315.69614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-   ",
        "box": [
          505.404,
          308.50199,
          521.14,
          315.69614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3,340)   ",
        "box": [
          592.668,
          308.50199,
          623.14,
          315.69614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-   ",
        "box": [
          709.404,
          308.50199,
          725.14,
          315.69614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1,643)   ",
        "box": [
          798.836,
          308.50199,
          827.14,
          315.69614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(33,000) ",
        "box": [
          893.556,
          308.50199,
          925.78,
          315.69614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Realized gain (loss) on sale of real estate owned",
        "box": [
          44.63,
          321.25199,
          212.08600000000004,
          328.44614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          321.25199,
          419.14,
          328.44614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-   ",
        "box": [
          505.404,
          321.25199,
          521.14,
          328.44614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-   ",
        "box": [
          607.404,
          321.25199,
          623.14,
          328.44614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,757 ",
        "box": [
          698.668,
          321.25199,
          719.708,
          328.44614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          723.38,
          321.25199,
          725.14,
          328.44614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-   ",
        "box": [
          811.404,
          321.25199,
          827.14,
          328.44614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          913.404,
          321.25199,
          923.684,
          328.44614384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Income (loss) before income taxes",
        "box": [
          38.63,
          334.36199999999997,
          164.118,
          341.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          334.36199999999997,
          419.14,
          341.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,521 ",
        "box": [
          495.46,
          334.36199999999997,
          515.708,
          341.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          519.38,
          334.36199999999997,
          521.14,
          341.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(9,575)   ",
        "box": [
          593.74,
          334.36199999999997,
          623.14,
          341.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3,860)   ",
        "box": [
          694.636,
          334.36199999999997,
          725.14,
          341.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,652 ",
        "box": [
          799.14,
          334.36199999999997,
          821.7080000000001,
          341.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(11,035)",
        "box": [
          896.62,
          334.36199999999997,
          922.14,
          341.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Income tax expense (benefit), including excise tax",
        "box": [
          44.63,
          347.11199999999997,
          218.71800000000007,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          347.11199999999997,
          419.14,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "138 ",
        "box": [
          501.788,
          347.11199999999997,
          515.692,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          519.38,
          347.11199999999997,
          521.14,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "30   ",
        "box": [
          606.156,
          347.11199999999997,
          623.14,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5 ",
        "box": [
          713.308,
          347.11199999999997,
          719.692,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          723.38,
          347.11199999999997,
          725.14,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(1) ",
        "box": [
          815.22,
          347.11199999999997,
          823.764,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          913.59998,
          347.11199999999997,
          922.1199799999999,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net income (loss) attributable to common stockholders",
        "box": [
          38.63,
          360.23199999999997,
          241.12599999999995,
          367.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          417.38,
          360.23199999999997,
          423.892,
          367.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,383  $ ",
        "box": [
          493.012,
          360.23199999999997,
          525.8919999999999,
          367.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(9,605)  $ ",
        "box": [
          592.5559999999999,
          360.23199999999997,
          627.8919999999999,
          367.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3,865)  $ ",
        "box": [
          695.092,
          360.23199999999997,
          729.8919999999999,
          367.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,653  $ ",
        "box": [
          798.9319999999999,
          360.23199999999997,
          831.8919999999999,
          367.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(11,035) ",
        "box": [
          898.5,
          360.23199999999997,
          925.78,
          367.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Earnings (loss) per common share:",
        "box": [
          38.63,
          373.36199999999997,
          164.65399999999997,
          380.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Basic earnings (loss) per common share",
        "box": [
          44.63,
          386.11199999999997,
          185.13400000000001,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          417.38,
          386.11199999999997,
          423.892,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.08 ",
        "box": [
          497.332,
          386.11199999999997,
          515.6999999999999,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          519.38,
          386.11199999999997,
          525.8919999999999,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.17)  $ ",
        "box": [
          600.26,
          386.11199999999997,
          627.8919999999999,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.07)  $ ",
        "box": [
          699.828,
          386.11199999999997,
          729.8919999999999,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.08 ",
        "box": [
          803.3319999999999,
          386.11199999999997,
          821.6999999999998,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          825.38,
          386.11199999999997,
          831.8919999999999,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.20) ",
        "box": [
          903.5719999999999,
          386.11199999999997,
          925.7799999999999,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diluted earnings (loss) per common share",
        "box": [
          44.63,
          398.86199999999997,
          191.60600000000002,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          417.38,
          398.86199999999997,
          423.892,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.08 ",
        "box": [
          497.332,
          398.86199999999997,
          515.6999999999999,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          519.38,
          398.86199999999997,
          525.8919999999999,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.17)  $ ",
        "box": [
          600.26,
          398.86199999999997,
          627.8919999999999,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.07)  $ ",
        "box": [
          699.828,
          398.86199999999997,
          729.8919999999999,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.08 ",
        "box": [
          803.3319999999999,
          398.86199999999997,
          821.6999999999998,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          825.38,
          398.86199999999997,
          831.8919999999999,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.20) ",
        "box": [
          903.5719999999999,
          398.86199999999997,
          925.7799999999999,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Weighted average number of common shares outstanding:",
        "box": [
          38.63,
          411.98199999999997,
          255.62199999999996,
          419.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Basic weighted average shares of common stock outstanding",
        "box": [
          38.63,
          425.11199999999997,
          257.062,
          432.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          425.11199999999997,
          419.14,
          432.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "55,367,375   ",
        "box": [
          473.868,
          425.11199999999997,
          521.14,
          432.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "55,322,222   ",
        "box": [
          576.156,
          425.11199999999997,
          623.14,
          432.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "54,951,917 ",
        "box": [
          680.8439999999999,
          425.11199999999997,
          719.7080000000001,
          432.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          723.38,
          425.11199999999997,
          725.14,
          432.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "54,904,862 ",
        "box": [
          777.588,
          425.11199999999997,
          821.7160000000001,
          432.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "54,856,949",
        "box": [
          879.76001,
          425.11199999999997,
          922.1440100000002,
          432.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diluted weighted average shares of common stock outstanding",
        "box": [
          38.63,
          437.86199999999997,
          263.534,
          445.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          437.86199999999997,
          419.14,
          445.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "56,354,988   ",
        "box": [
          472.06,
          437.86199999999997,
          521.14,
          445.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "55,322,222   ",
        "box": [
          576.156,
          437.86199999999997,
          623.14,
          445.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "54,951,917 ",
        "box": [
          680.8439999999999,
          437.86199999999997,
          719.7080000000001,
          445.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          723.38,
          437.86199999999997,
          725.14,
          445.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "55,775,825 ",
        "box": [
          780.316,
          437.86199999999997,
          821.724,
          445.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "54,856,949",
        "box": [
          879.76001,
          437.86199999999997,
          922.1440100000002,
          445.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Dividends declared per share of common stock 1",
        "box": [
          38.63,
          450.08281,
          213.66279999999998,
          457.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          417.38,
          450.61199999999997,
          423.892,
          457.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.15 ",
        "box": [
          499.94,
          450.61199999999997,
          515.7,
          457.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          519.38,
          450.61199999999997,
          525.8919999999999,
          457.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.15 ",
        "box": [
          601.9399999999999,
          450.61199999999997,
          617.6999999999999,
          457.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          621.38,
          450.61199999999997,
          627.8919999999999,
          457.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.15 ",
        "box": [
          703.9399999999999,
          450.61199999999997,
          719.6999999999999,
          457.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          723.38,
          450.61199999999997,
          729.8919999999999,
          457.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.15 ",
        "box": [
          805.9399999999999,
          450.61199999999997,
          821.6999999999999,
          457.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          825.38,
          450.61199999999997,
          831.8919999999999,
          457.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.15 ",
        "box": [
          907.9399999999999,
          450.61199999999997,
          923.6999999999999,
          457.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "19",
        "box": [
          915.53998,
          497.66099,
          924.0989800000001,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 20,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Reconciliation of Net Income (Loss) to Non-GAAP Distributable Earnings (Loss)",
        "box": [
          36.0,
          44.760009999999966,
          937.2179799999998,
          67.80000999999999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Due to rounding, numbers presented may not add up to the totals provided.",
        "box": [
          90.0,
          498.7534476,
          308.1520000000003,
          505.77715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "For the Three Months Ended",
        "box": [
          617.22998,
          98.85200000000003,
          722.3179799999992,
          106.04615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in thousands, except per share data)",
        "box": [
          38.63,
          113.10200000000003,
          175.566,
          120.29615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6/30/2026",
        "box": [
          444.32001,
          113.10200000000003,
          487.2000100000001,
          120.29615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3/31/2026",
        "box": [
          547.52002,
          113.10200000000003,
          587.9840199999996,
          120.29615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "12/31/2025",
        "box": [
          648.10999,
          113.10200000000003,
          691.3979899999996,
          120.29615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9/30/2025",
        "box": [
          750.44,
          113.10200000000003,
          793.0799999999997,
          120.29615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6/30/2025",
        "box": [
          852.44,
          113.10200000000003,
          895.0799999999997,
          120.29615384615386
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net income (loss) attributable to common stockholders",
        "box": [
          38.63,
          126.61200000000002,
          241.12599999999995,
          133.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          417.38,
          126.61200000000002,
          423.892,
          133.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,383  $ ",
        "box": [
          493.012,
          126.61200000000002,
          525.8919999999999,
          133.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(9,605)  $ ",
        "box": [
          592.5559999999999,
          126.61200000000002,
          627.8919999999999,
          133.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(3,865)  $ ",
        "box": [
          695.092,
          126.61200000000002,
          729.8919999999999,
          133.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4,653  $ ",
        "box": [
          798.9319999999999,
          126.61200000000002,
          831.8919999999999,
          133.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(11,035) ",
        "box": [
          898.5,
          126.61200000000002,
          925.78,
          133.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Stock-based compensation",
        "box": [
          44.63,
          139.36200000000002,
          142.95000000000002,
          146.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          139.36200000000002,
          419.14,
          146.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "882   ",
        "box": [
          499.836,
          139.36200000000002,
          521.14,
          146.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "897   ",
        "box": [
          601.9399999999999,
          139.36200000000002,
          623.14,
          146.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "893   ",
        "box": [
          703.468,
          139.36200000000002,
          725.14,
          146.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,024 ",
        "box": [
          801.004,
          139.36200000000002,
          821.7,
          146.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "937",
        "box": [
          908.22998,
          139.36200000000002,
          922.1259799999999,
          146.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Incentive fees to affiliate",
        "box": [
          44.63,
          152.48200000000003,
          130.45399999999998,
          159.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          152.48200000000003,
          419.14,
          159.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-   ",
        "box": [
          505.404,
          152.48200000000003,
          521.14,
          159.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-   ",
        "box": [
          607.404,
          152.48200000000003,
          623.14,
          159.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-   ",
        "box": [
          709.404,
          152.48200000000003,
          725.14,
          159.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          811.404,
          152.48200000000003,
          821.684,
          159.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          913.59998,
          152.48200000000003,
          922.1199799999999,
          159.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Depreciation and amortization of real estate owned",
        "box": [
          44.63,
          165.61200000000002,
          226.26200000000003,
          172.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          165.61200000000002,
          419.14,
          172.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "749   ",
        "box": [
          499.70799999999997,
          165.61200000000002,
          521.14,
          172.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "741 ",
        "box": [
          604.028,
          165.61200000000002,
          617.692,
          172.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          621.38,
          165.61200000000002,
          623.14,
          172.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,605 ",
        "box": [
          698.948,
          165.61200000000002,
          719.7,
          172.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          723.38,
          165.61200000000002,
          725.14,
          172.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,009 ",
        "box": [
          798.644,
          165.61200000000002,
          821.7,
          172.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2,318",
        "box": [
          903.79999,
          165.61200000000002,
          922.1359899999999,
          172.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Provision for (reversal of) current expected credit losses, net",
        "box": [
          44.63,
          178.36200000000002,
          256.46200000000016,
          185.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          178.36200000000002,
          419.14,
          185.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "865   ",
        "box": [
          499.548,
          178.36200000000002,
          521.14,
          185.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "11,138 ",
        "box": [
          596.8199999999999,
          178.36200000000002,
          617.6999999999998,
          185.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          621.38,
          178.36200000000002,
          623.14,
          185.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "9,835   ",
        "box": [
          697.156,
          178.36200000000002,
          725.14,
          185.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(2,190) ",
        "box": [
          799.004,
          178.36200000000002,
          823.772,
          185.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(20,150)",
        "box": [
          894.40002,
          178.36200000000002,
          922.1440200000001,
          185.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings (Loss)",
        "box": [
          38.63,
          191.48200000000003,
          143.70199999999997,
          198.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          417.38,
          191.48200000000003,
          423.892,
          198.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,879  $ ",
        "box": [
          493.29200000000003,
          191.48200000000003,
          525.8919999999999,
          198.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,171 ",
        "box": [
          600.0279999999999,
          191.48200000000003,
          617.6999999999998,
          198.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          621.38,
          191.48200000000003,
          627.8919999999999,
          198.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "8,468  $ ",
        "box": [
          696.6519999999999,
          191.48200000000003,
          729.8919999999999,
          198.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,496  $ ",
        "box": [
          798.6679999999999,
          191.48200000000003,
          831.8919999999999,
          198.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(27,930) ",
        "box": [
          894.7159999999999,
          191.48200000000003,
          925.7799999999999,
          198.67615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Realized (gains) losses",
        "box": [
          44.63,
          204.61200000000002,
          123.21400000000001,
          211.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          204.61200000000002,
          419.14,
          211.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-   ",
        "box": [
          505.404,
          204.61200000000002,
          521.14,
          211.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3,340   ",
        "box": [
          594.74,
          204.61200000000002,
          623.14,
          211.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(2,398)   ",
        "box": [
          695.22,
          204.61200000000002,
          725.14,
          211.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1,643 ",
        "box": [
          800.908,
          204.61200000000002,
          821.7,
          211.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "33,000",
        "box": [
          895.82001,
          204.61200000000002,
          922.14001,
          211.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings excluding realized (gains) losses",
        "box": [
          38.63,
          217.36200000000002,
          239.3259999999999,
          224.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          417.38,
          217.36200000000002,
          423.892,
          224.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,879  $ ",
        "box": [
          493.29200000000003,
          217.36200000000002,
          525.8919999999999,
          224.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,511 ",
        "box": [
          599.3799999999999,
          217.36200000000002,
          617.6999999999999,
          224.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          621.38,
          217.36200000000002,
          627.8919999999999,
          224.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "6,070  $ ",
        "box": [
          696.9079999999999,
          217.36200000000002,
          729.8919999999999,
          224.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "7,139 ",
        "box": [
          801.708,
          217.36200000000002,
          821.6999999999999,
          224.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          825.38,
          217.36200000000002,
          831.8919999999999,
          224.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5,070 ",
        "box": [
          901.252,
          217.36200000000002,
          923.708,
          224.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net income (loss) attributable to common stockholders",
        "box": [
          44.63,
          230.11200000000002,
          247.12599999999995,
          237.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          230.11200000000002,
          419.14,
          237.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.08 ",
        "box": [
          497.32399999999996,
          230.11200000000002,
          515.6919999999999,
          237.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          519.38,
          230.11200000000002,
          521.14,
          237.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.17)   ",
        "box": [
          600.26,
          230.11200000000002,
          623.14,
          237.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.07)   ",
        "box": [
          699.828,
          230.11200000000002,
          725.14,
          237.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.08 ",
        "box": [
          803.324,
          230.11200000000002,
          821.6919999999999,
          237.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.20)",
        "box": [
          901.69,
          230.11200000000002,
          922.138,
          237.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Stock-based compensation",
        "box": [
          44.63,
          243.23200000000003,
          142.95000000000002,
          250.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          243.23200000000003,
          419.14,
          250.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.02 ",
        "box": [
          497.63599999999997,
          243.23200000000003,
          515.6999999999999,
          250.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          519.38,
          243.23200000000003,
          521.14,
          250.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.02 ",
        "box": [
          599.636,
          243.23200000000003,
          617.6999999999999,
          250.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          621.38,
          243.23200000000003,
          623.14,
          250.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.02 ",
        "box": [
          701.636,
          243.23200000000003,
          719.6999999999999,
          250.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          723.38,
          243.23200000000003,
          725.14,
          250.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.02 ",
        "box": [
          803.636,
          243.23200000000003,
          821.6999999999999,
          250.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.02",
        "box": [
          905.83002,
          243.23200000000003,
          922.13402,
          250.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Incentive fees to affiliate",
        "box": [
          44.63,
          256.362,
          130.45399999999998,
          263.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          256.362,
          419.14,
          263.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-   ",
        "box": [
          505.404,
          256.362,
          521.14,
          263.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-   ",
        "box": [
          607.404,
          256.362,
          623.14,
          263.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-   ",
        "box": [
          709.404,
          256.362,
          725.14,
          263.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          811.404,
          256.362,
          821.684,
          263.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          913.59998,
          256.362,
          922.1199799999999,
          263.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Depreciation and amortization of real estate owned",
        "box": [
          44.63,
          269.112,
          226.26200000000003,
          276.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          269.112,
          419.14,
          276.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.01 ",
        "box": [
          499.484,
          269.112,
          515.6919999999999,
          276.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          519.38,
          269.112,
          521.14,
          276.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.01 ",
        "box": [
          601.4839999999999,
          269.112,
          617.6919999999999,
          276.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          621.38,
          269.112,
          623.14,
          276.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.03 ",
        "box": [
          701.428,
          269.112,
          719.6999999999999,
          276.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          723.38,
          269.112,
          725.14,
          276.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.04 ",
        "box": [
          803.1,
          269.112,
          821.7,
          276.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.04",
        "box": [
          905.28998,
          269.112,
          922.12998,
          276.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Provision for (reversal of) current expected credit losses, net",
        "box": [
          44.63,
          282.232,
          256.46200000000016,
          289.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          282.232,
          419.14,
          289.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.02 ",
        "box": [
          497.63599999999997,
          282.232,
          515.6999999999999,
          289.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          519.38,
          282.232,
          521.14,
          289.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.20 ",
        "box": [
          599.636,
          282.232,
          617.6999999999999,
          289.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          621.38,
          282.232,
          623.14,
          289.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.18 ",
        "box": [
          703.756,
          282.232,
          719.6919999999999,
          289.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          723.38,
          282.232,
          725.14,
          289.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.04) ",
        "box": [
          801.028,
          282.232,
          823.772,
          289.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.37)",
        "box": [
          902.32001,
          282.232,
          922.1360099999999,
          289.42615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Basic Distributable Earnings (Loss) per common share",
        "box": [
          38.63,
          295.36199999999997,
          235.9499999999999,
          302.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          417.38,
          295.36199999999997,
          423.892,
          302.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.12 ",
        "box": [
          500.068,
          295.36199999999997,
          515.7,
          302.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          519.38,
          295.36199999999997,
          525.8919999999999,
          302.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.06  $ ",
        "box": [
          599.1719999999999,
          295.36199999999997,
          627.8919999999999,
          302.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.15 ",
        "box": [
          703.9399999999999,
          295.36199999999997,
          719.6999999999999,
          302.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          723.38,
          295.36199999999997,
          729.8919999999999,
          302.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.10 ",
        "box": [
          805.492,
          295.36199999999997,
          821.6999999999999,
          302.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          825.38,
          295.36199999999997,
          831.8919999999999,
          302.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.51) ",
        "box": [
          905.8679999999999,
          295.36199999999997,
          925.7719999999999,
          302.55615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Realized (gains) losses",
        "box": [
          44.63,
          308.11199999999997,
          123.21400000000001,
          315.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          308.11199999999997,
          419.14,
          315.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-   ",
        "box": [
          505.404,
          308.11199999999997,
          521.14,
          315.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.06   ",
        "box": [
          599.164,
          308.11199999999997,
          623.14,
          315.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.04)   ",
        "box": [
          699.028,
          308.11199999999997,
          725.14,
          315.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.03 ",
        "box": [
          803.428,
          308.11199999999997,
          821.6999999999999,
          315.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.60",
        "box": [
          905.35999,
          308.11199999999997,
          922.1279900000001,
          315.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Basic Distributable Earnings excluding realized (gains) losses per common share",
        "box": [
          38.63,
          320.86199999999997,
          331.582,
          328.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          417.38,
          320.86199999999997,
          423.892,
          328.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.12 ",
        "box": [
          500.068,
          320.86199999999997,
          515.7,
          328.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          519.38,
          320.86199999999997,
          525.8919999999999,
          328.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.12 ",
        "box": [
          602.068,
          320.86199999999997,
          617.6999999999999,
          328.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          621.38,
          320.86199999999997,
          627.8919999999999,
          328.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.11 ",
        "box": [
          705.9159999999999,
          320.86199999999997,
          719.6919999999999,
          328.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          723.38,
          320.86199999999997,
          729.8919999999999,
          328.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.13 ",
        "box": [
          805.8599999999999,
          320.86199999999997,
          821.6999999999998,
          328.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          825.38,
          320.86199999999997,
          831.8919999999999,
          328.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.09 ",
        "box": [
          905.1719999999999,
          320.86199999999997,
          923.6999999999999,
          328.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Net income (loss) attributable to common stockholders",
        "box": [
          44.63,
          333.98199999999997,
          247.12599999999995,
          341.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          333.98199999999997,
          419.14,
          341.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.08 ",
        "box": [
          497.32399999999996,
          333.98199999999997,
          515.6919999999999,
          341.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          519.38,
          333.98199999999997,
          521.14,
          341.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.17)   ",
        "box": [
          600.26,
          333.98199999999997,
          623.14,
          341.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.07)   ",
        "box": [
          699.828,
          333.98199999999997,
          725.14,
          341.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.08 ",
        "box": [
          803.324,
          333.98199999999997,
          821.6919999999999,
          341.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.20)",
        "box": [
          901.69,
          333.98199999999997,
          922.138,
          341.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Stock-based compensation",
        "box": [
          44.63,
          347.11199999999997,
          142.95000000000002,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          347.11199999999997,
          419.14,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.02 ",
        "box": [
          497.63599999999997,
          347.11199999999997,
          515.6999999999999,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          519.38,
          347.11199999999997,
          521.14,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.02 ",
        "box": [
          599.636,
          347.11199999999997,
          617.6999999999999,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          621.38,
          347.11199999999997,
          623.14,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.02 ",
        "box": [
          701.636,
          347.11199999999997,
          719.6999999999999,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          723.38,
          347.11199999999997,
          725.14,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.02 ",
        "box": [
          803.636,
          347.11199999999997,
          821.6999999999999,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.02",
        "box": [
          905.83002,
          347.11199999999997,
          922.13402,
          354.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Incentive fees to affiliate",
        "box": [
          44.63,
          359.86199999999997,
          130.45399999999998,
          367.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          359.86199999999997,
          419.14,
          367.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-   ",
        "box": [
          505.404,
          359.86199999999997,
          521.14,
          367.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-   ",
        "box": [
          607.404,
          359.86199999999997,
          623.14,
          367.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-   ",
        "box": [
          709.404,
          359.86199999999997,
          725.14,
          367.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "- ",
        "box": [
          811.404,
          359.86199999999997,
          821.684,
          367.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          913.59998,
          359.86199999999997,
          922.1199799999999,
          367.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Depreciation and amortization of real estate owned",
        "box": [
          44.63,
          372.98199999999997,
          226.26200000000003,
          380.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          372.98199999999997,
          419.14,
          380.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.01 ",
        "box": [
          499.484,
          372.98199999999997,
          515.6919999999999,
          380.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          519.38,
          372.98199999999997,
          521.14,
          380.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.01 ",
        "box": [
          601.4839999999999,
          372.98199999999997,
          617.6919999999999,
          380.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          621.38,
          372.98199999999997,
          623.14,
          380.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.03 ",
        "box": [
          701.428,
          372.98199999999997,
          719.6999999999999,
          380.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          723.38,
          372.98199999999997,
          725.14,
          380.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.04 ",
        "box": [
          803.1,
          372.98199999999997,
          821.7,
          380.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.04",
        "box": [
          905.28998,
          372.98199999999997,
          922.12998,
          380.17615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Provision for (reversal of) current expected credit losses, net",
        "box": [
          44.63,
          386.11199999999997,
          256.46200000000016,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          386.11199999999997,
          419.14,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.02 ",
        "box": [
          497.63599999999997,
          386.11199999999997,
          515.6999999999999,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          519.38,
          386.11199999999997,
          521.14,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.20 ",
        "box": [
          599.636,
          386.11199999999997,
          617.6999999999999,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          621.38,
          386.11199999999997,
          623.14,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.18 ",
        "box": [
          703.756,
          386.11199999999997,
          719.6919999999999,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          723.38,
          386.11199999999997,
          725.14,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.04) ",
        "box": [
          801.028,
          386.11199999999997,
          823.772,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.37)",
        "box": [
          902.32001,
          386.11199999999997,
          922.1360099999999,
          393.30615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diluted Distributable Earnings (Loss) per common share",
        "box": [
          38.63,
          398.86199999999997,
          242.88599999999988,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          417.38,
          398.86199999999997,
          423.892,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.12 ",
        "box": [
          500.068,
          398.86199999999997,
          515.7,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          519.38,
          398.86199999999997,
          525.8919999999999,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.06  $ ",
        "box": [
          599.1719999999999,
          398.86199999999997,
          627.8919999999999,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.15 ",
        "box": [
          703.9399999999999,
          398.86199999999997,
          719.6999999999999,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          723.38,
          398.86199999999997,
          729.8919999999999,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.10 ",
        "box": [
          805.492,
          398.86199999999997,
          821.6999999999999,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          825.38,
          398.86199999999997,
          831.8919999999999,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.51) ",
        "box": [
          905.8679999999999,
          398.86199999999997,
          925.7719999999999,
          406.05615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Realized (gains) losses",
        "box": [
          44.63,
          411.61199999999997,
          123.21400000000001,
          418.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": " ",
        "box": [
          417.38,
          411.61199999999997,
          419.14,
          418.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-   ",
        "box": [
          505.404,
          411.61199999999997,
          521.14,
          418.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.06   ",
        "box": [
          599.164,
          411.61199999999997,
          623.14,
          418.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(0.04)   ",
        "box": [
          699.028,
          411.61199999999997,
          725.14,
          418.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.03 ",
        "box": [
          803.428,
          411.61199999999997,
          821.6999999999999,
          418.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.60",
        "box": [
          905.35999,
          411.61199999999997,
          922.1279900000001,
          418.80615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diluted Distributable Earnings excluding realized (gains) losses per common share",
        "box": [
          38.63,
          424.73199999999997,
          338.518,
          431.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          417.38,
          424.73199999999997,
          423.892,
          431.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.12 ",
        "box": [
          500.068,
          424.73199999999997,
          515.7,
          431.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          519.38,
          424.73199999999997,
          525.8919999999999,
          431.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.12 ",
        "box": [
          602.068,
          424.73199999999997,
          617.6999999999999,
          431.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          621.38,
          424.73199999999997,
          627.8919999999999,
          431.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.11 ",
        "box": [
          705.9159999999999,
          424.73199999999997,
          719.6919999999999,
          431.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          723.38,
          424.73199999999997,
          729.8919999999999,
          431.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.13 ",
        "box": [
          805.8599999999999,
          424.73199999999997,
          821.6999999999998,
          431.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$ ",
        "box": [
          825.38,
          424.73199999999997,
          831.8919999999999,
          431.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "0.09 ",
        "box": [
          905.1719999999999,
          424.73199999999997,
          923.6999999999999,
          431.92615384615385
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "20",
        "box": [
          913.34003,
          497.66099,
          924.10403,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 21,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Diverse Sources of Financing Supports Portfolio",
        "box": [
          36.0,
          45.71999999999997,
          677.004,
          72.60000000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of June 30, 2026 unless otherwise noted. Past performance is not indicative of future results. Due to rounding, numbers presented may not add up to the totals provided. 1) For the Secured Funding Agreements, total commitments are available subject to the pledge of ",
        "box": [
          90.0,
          464.1934476,
          891.0180100000002,
          471.21715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "additional collateral. 2) Amount immediately available under the CNB Facility at any given time can fluctuate based on the fair value of the collateral in the borrowing base that secures the CNB Facility. As of June 30, 2026, there was $51.6 million of immediate availability under ",
        "box": [
          90.0,
          472.8334376,
          891.0560299999996,
          479.85714404272767
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "the CNB Facility based on the fair value of the collateral in the borrowing base at such time. The amount immediately available under the CNB Facility may be increased to up to $75.0 million by the pledge of additional collateral into the borrowing base in accordance with the ",
        "box": [
          90.0,
          481.4734476,
          891.0879999999995,
          488.4971540427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CNB Facility agreement. 3) The Morgan Stanley facility contains an accordion provision such that the maximum commitment may be increased to up to $400.0 million at the Company's option, subject to the satisfaction of certain conditions, including payment of an upsize fee. ",
        "box": [
          90.0,
          490.1134376,
          891.0639999999983,
          497.1371440427277
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4) The Secured Term Loan includes interest rate increases on advances to the following fixed rates: (i) 4.50% per annum until May 1, 2025 and (ii) after May 1, 2025 through November 12, 2026, the interest rate increases 0.25% every three months.",
        "box": [
          90.0,
          498.7534476,
          809.3039999999996,
          505.77715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Diversified financing sources totaling $1.5 billion with $277 million of undrawn capacity 1,2",
        "box": [
          36.0,
          74.86989999999997,
          577.80641,
          88.38577923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "($ in millions)",
        "box": [
          38.63,
          116.83999,
          98.59000000000003,
          125.83268230769227
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Financing Sources",
        "box": [
          38.63,
          145.71999,
          123.82000000000001,
          154.71268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total",
        "box": [
          269.42999,
          139.71999,
          293.0599899999999,
          148.71268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Commitments 1",
        "box": [
          246.55,
          151.05849999999998,
          315.94851,
          160.71268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Outstanding\u00a0",
        "box": [
          393.76999,
          139.71999,
          453.7199899999999,
          148.71268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Principal",
        "box": [
          403.45999,
          151.71999,
          444.03999,
          160.71268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Pricing",
        "box": [
          549.96997,
          139.71999,
          582.5199700000001,
          148.71268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Range",
        "box": [
          551.42999,
          151.71999,
          581.06999,
          160.71268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mark",
        "box": [
          696.88,
          139.71999,
          721.3699999999999,
          148.71268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "to Credit",
        "box": [
          688.67999,
          151.71999,
          729.56999,
          160.71268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Non Spread Based",
        "box": [
          809.63,
          139.71999,
          894.3600000000001,
          148.71268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Mark to Market",
        "box": [
          816.03003,
          151.71999,
          887.9700299999998,
          160.71268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Secured Funding Agreements",
        "box": [
          38.63,
          175.71999,
          176.88,
          184.71268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Wells Fargo Facility",
        "box": [
          38.63,
          199.71999,
          124.0,
          208.71268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$600.0",
        "box": [
          264.63,
          199.71999,
          297.8700099999999,
          208.71268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$563.0",
        "box": [
          408.57999,
          199.71999,
          440.7999899999999,
          208.71268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SOFR+1.35 to 3.75%",
        "box": [
          521.54999,
          199.71999,
          610.93999,
          208.71268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Citibank Facility",
        "box": [
          38.63,
          223.33999,
          108.51,
          232.33268230769227
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "425.0",
        "box": [
          268.19,
          223.33999,
          294.29999999999995,
          232.33268230769227
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "340.2",
        "box": [
          411.57999,
          223.33999,
          437.78999,
          232.33268230769227
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SOFR+1.50 to 3.00%",
        "box": [
          520.52002,
          223.33999,
          611.9800200000002,
          232.33268230769227
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Morgan Stanley Facility",
        "box": [
          38.63,
          246.96999,
          142.11999999999998,
          255.96268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "350.0 3",
        "box": [
          266.13,
          246.30849999999998,
          296.37202,
          255.96268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "269.9",
        "box": [
          411.54001,
          246.96999,
          437.84000999999995,
          255.96268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SOFR+1.55 to 3.50%",
        "box": [
          521.08002,
          246.96999,
          611.42002,
          255.96268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "CNB Facility",
        "box": [
          38.63,
          270.96999,
          92.11999999999999,
          279.96268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "75.0 2",
        "box": [
          269.67999,
          270.3085,
          292.82298000000003,
          279.96268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          419.35999,
          270.96999,
          430.00998999999996,
          279.96268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "SOFR+3.25%",
        "box": [
          536.67999,
          270.96999,
          595.80999,
          279.96268230769226
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Subtotal",
        "box": [
          38.63,
          294.58999,
          78.01,
          303.5826823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,450.0",
        "box": [
          261.85999,
          294.58999,
          302.50998999999996,
          303.5826823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,173.0",
        "box": [
          406.19,
          294.58999,
          443.18999999999994,
          303.5826823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Capital Markets",
        "box": [
          38.63,
          318.21999,
          112.47000000000001,
          327.2126823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Secured Term Loan",
        "box": [
          38.63,
          341.83999,
          126.46000000000002,
          350.8326823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$90.0",
        "box": [
          268.73999,
          341.83999,
          295.6399899999999,
          350.8326823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$90.0",
        "box": [
          411.23999,
          341.83999,
          438.1399899999999,
          350.8326823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.75% (Fixed) 4",
        "box": [
          535.09998,
          341.17849,
          597.3984999999999,
          350.8326823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Subtotal",
        "box": [
          38.63,
          365.46999,
          78.01,
          374.4626823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$90.0",
        "box": [
          268.12,
          365.46999,
          296.25000000000006,
          374.4626823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$90.0",
        "box": [
          410.62,
          365.46999,
          438.75000000000006,
          374.4626823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Total Debt",
        "box": [
          38.63,
          389.46999,
          86.78000000000002,
          398.4626823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,540.0",
        "box": [
          263.09,
          389.46999,
          301.2899999999999,
          398.4626823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "$1,263.0",
        "box": [
          405.94,
          389.46999,
          443.42999999999995,
          398.4626823076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "21",
        "box": [
          916.07001,
          497.66099,
          924.1070100000001,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 22,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "Glossary",
        "box": [
          34.56,
          239.09999,
          182.91600000000003,
          273.65999
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Carrying Value",
        "box": [
          313.97,
          100.04000000000002,
          382.76000000000005,
          109.03269230769229
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Carrying  Value  represents  the  cost  of  loans  held  for  investment,  net  of  unamortized  purchase ",
        "box": [
          472.97,
          100.04000000000002,
          923.6300000000006,
          109.03269230769229
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "discounts,  deferred  loan  fees  and  origination  costs  and  cost",
        "box": [
          472.97,
          112.04000000000002,
          748.78033,
          121.03269230769229
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "-",
        "box": [
          748.78033,
          112.4140625,
          752.20033,
          121.984375
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "recovery proceeds, and excludes the ",
        "box": [
          752.19031,
          112.04000000000002,
          923.57036,
          121.03269230769229
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "impact of current expected credit losses. ",
        "box": [
          472.97,
          124.04000000000002,
          656.1400000000003,
          133.0326923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings (Loss)",
        "box": [
          313.97,
          144.29000000000002,
          445.35999999999984,
          153.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings\u00a0(Loss) is a non-GAAP financial measure that helps the Company evaluate its ",
        "box": [
          472.97,
          144.29000000000002,
          923.6600000000008,
          153.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "financial  performance  excluding  the  effects  of  certain  transactions  and  GAAP  adjustments  that  it ",
        "box": [
          472.97,
          156.29000000000002,
          923.550000000001,
          165.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "believes  are  not  necessarily  indicative  of  its  current  loan  origination  portfolio  and  operations.  To ",
        "box": [
          472.97,
          168.29000000000002,
          923.6200000000005,
          177.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "maintain the Company's REIT status, the Company is generally required to annually distribute to its ",
        "box": [
          472.97,
          180.29000000000002,
          923.5800000000016,
          189.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "stockholders  substantially  all  of  its  taxable  income.  The  Company  believes  the  disclosure  of ",
        "box": [
          472.97,
          192.29000000000002,
          923.6600000000003,
          201.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings (Loss) provides useful information to investors regarding the Company's ability ",
        "box": [
          472.97,
          204.29000000000002,
          923.660000000001,
          213.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "to pay dividends, which the Company believes is one of the principal reasons investors invest in the ",
        "box": [
          472.97,
          216.29000000000002,
          923.5500000000011,
          225.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Company. The presentation of this additional information is not meant to be considered in isolation or ",
        "box": [
          472.97,
          228.29000000000002,
          923.5600000000005,
          237.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "as a substitute for financial results prepared in accordance with GAAP. Distributable Earnings (Loss) is ",
        "box": [
          472.97,
          240.29000000000002,
          923.6500000000003,
          249.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "defined  as  net  income  (loss)  computed  in  accordance  with  GAAP,  excluding  non-cash  equity ",
        "box": [
          472.97,
          252.29000000000002,
          923.5700000000005,
          261.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "compensation  expense,  the  incentive  fees  the  Company  pays  to  its  Manager,  depreciation  and ",
        "box": [
          472.97,
          264.29,
          923.6400000000004,
          273.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "amortization (to the extent that any of the Company's target investments are structured as debt and ",
        "box": [
          472.97,
          276.29,
          923.5300000000015,
          285.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "the  Company  forecloses  on  any  properties  underlying  such  debt),  any  unrealized  gains,  losses  or ",
        "box": [
          472.97,
          288.28999999999996,
          923.5400000000011,
          297.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "other non-cash items recorded in net income (loss) for the period, regardless of whether such items ",
        "box": [
          472.97,
          300.28999999999996,
          923.6400000000002,
          309.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "are  included  in  other  comprehensive  income  or  loss,  or  in  net  income  (loss),  one-time  events ",
        "box": [
          472.97,
          312.28999999999996,
          923.6200000000011,
          321.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "pursuant  to  changes  in  GAAP  and  certain  non-cash  charges  after  discussions  between  the ",
        "box": [
          472.97,
          324.28999999999996,
          923.6200000000011,
          333.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Company's manager and the Company's independent directors and after approval by a majority of ",
        "box": [
          472.97,
          336.28999999999996,
          923.5700000000016,
          345.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "the  Company's  independent  directors.  Loan  balances  that  are  deemed  to  be  uncollectible  are ",
        "box": [
          472.97,
          348.28999999999996,
          923.6600000000007,
          357.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "written-off as a realized loss and are included in Distributable Earnings (Loss). Distributable Earnings ",
        "box": [
          472.97,
          360.28999999999996,
          923.6200000000014,
          369.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "(Loss)  is  aligned  with  the  calculation  of  'Core  Earnings,'  which  is  defined  in  the  Management ",
        "box": [
          472.97,
          372.28999999999996,
          923.6200000000002,
          381.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Agreement ",
        "box": [
          472.97,
          384.28999999999996,
          525.9300000000001,
          393.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "and ",
        "box": [
          533.7800000000001,
          384.28999999999996,
          552.9700000000001,
          393.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "is ",
        "box": [
          560.8200000000002,
          384.28999999999996,
          569.7800000000002,
          393.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "used ",
        "box": [
          577.6300000000002,
          384.28999999999996,
          601.6700000000003,
          393.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "to ",
        "box": [
          609.5200000000003,
          384.28999999999996,
          620.8600000000004,
          393.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "calculate ",
        "box": [
          628.7100000000004,
          384.28999999999996,
          671.0600000000004,
          393.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "the ",
        "box": [
          678.9100000000004,
          384.28999999999996,
          695.7200000000005,
          393.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "incentive ",
        "box": [
          703.5700000000005,
          384.28999999999996,
          746.0500000000006,
          393.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "fees ",
        "box": [
          753.9000000000007,
          384.28999999999996,
          774.9400000000007,
          393.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "the ",
        "box": [
          782.7900000000008,
          384.28999999999996,
          799.6000000000008,
          393.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Company ",
        "box": [
          807.4500000000008,
          384.28999999999996,
          853.370000000001,
          393.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "pays ",
        "box": [
          861.220000000001,
          384.28999999999996,
          884.2500000000011,
          393.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "to ",
        "box": [
          892.1000000000012,
          384.28999999999996,
          903.4400000000012,
          393.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "its ",
        "box": [
          911.2900000000012,
          384.28999999999996,
          923.6300000000012,
          393.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Manager.\u00a0 Distributable  Earnings  excluding  realized  gains/losses  is  Distributable  Earnings  (Loss) ",
        "box": [
          472.97,
          396.28999999999996,
          923.6200000000008,
          405.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "further adjusted to exclude realized gains/losses.",
        "box": [
          472.97,
          408.28999999999996,
          689.5000000000001,
          417.2826923076923
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "22",
        "box": [
          913.98999,
          497.66099,
          924.10599,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "\u00d8ARES",
        "box": [
          33.666666666666664,
          490.0,
          82.0,
          507.6666666666667
        ],
        "from_ocr": true,
        "confidence": 0.88024
      }
    ]
  },
  {
    "page_no": 23,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "End Notes",
        "box": [
          36.0,
          45.71999999999997,
          173.03200000000007,
          72.60000000000002
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "23",
        "box": [
          913.75,
          497.66099,
          924.1,
          505.7544130769231
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Q2 2026 Company Results and Highlights; page 3",
        "box": [
          35.9,
          77.60345760000001,
          190.2,
          84.62716404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of June 30, 2026 unless otherwise noted. Past performance is not indicative of future results. Due to rounding, numbers may not add up to the totals provided.",
        "box": [
          35.9,
          87.2034276,
          502.81400000000184,
          94.22713404272764
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "1.",
        "box": [
          35.9,
          96.8034376,
          41.364,
          103.82714404272764
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Distributable Earnings (Loss) and Distributable Earnings excluding realized gains (losses) are non-GAAP financial measures. See page 22 for Distributable Earnings (Loss) and Distributable Earnings excluding realized gains (losses) definitions and page 20 for the Reconciliation of Net ",
        "box": [
          53.9,
          96.8034376,
          879.171999999999,
          103.82714404272764
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Income (Loss) to Non-GAAP Distributable Earnings (Loss) and Distributable Earnings excluding realized gains (losses).",
        "box": [
          53.9,
          106.40343760000002,
          399.90800000000087,
          113.42714404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "2.",
        "box": [
          35.9,
          116.00344760000002,
          41.364,
          123.02715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Book value per common share excluding CECL reserve is calculated as (i) total stockholders' equity of $489 million plus CECL reserve of $139 million divided by (ii) total outstanding common shares of 55,481,113 as of June 30, 2026.",
        "box": [
          53.9,
          116.00344760000002,
          729.39401,
          123.02715404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "3.",
        "box": [
          35.9,
          125.60345760000001,
          41.364,
          132.62716404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Based on outstanding principal balance of loans held for investment. ",
        "box": [
          53.9,
          125.60345760000001,
          253.84399999999982,
          132.62716404272766
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "4.",
        "box": [
          35.9,
          135.2034276,
          41.364,
          142.22713404272764
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "As of June 30, 2026, includes $18 million of cash and approximately $88 million of available financing proceeds under our secured funding agreements. ",
        "box": [
          53.9,
          135.2034276,
          494.38999000000183,
          142.22713404272764
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "5.",
        "box": [
          35.9,
          144.8034376,
          41.364,
          151.82714404272764
        ],
        "from_ocr": false,
        "confidence": 1.0
      },
      {
        "text": "Source: Bloomberg stock price for ACRE as of July 30, 2026.",
        "box": [
          53.9,
          144.8034376,
          231.17401,
          151.82714404272764
        ],
        "from_ocr": false,
        "confidence": 1.0
      }
    ]
  },
  {
    "page_no": 24,
    "width": 960.0,
    "height": 540.0,
    "cells": [
      {
        "text": "0",
        "box": [
          155.80645751953125,
          5.785714467366536,
          201.7741902669271,
          539.5178629557291
        ],
        "from_ocr": true,
        "confidence": 0.60634
      }
    ]
  }
]