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   "markdown": "<a id='ea3f0db8-7177-46d2-acd5-0e40ab6b4e35'></a>\n\n## Portfolio Overview\n\n$4.3B total portfolio;\n64.2% WA LTV (1)\n\n161 senior loans; average\nUPB (2) of $27M\n\n11 mezzanine loans;\naverage UPB (2) of $5M\n\n9 non-performing loans (3)",
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   "markdown": "<a id='954c5317-5c97-4967-910c-34dcace15363'></a>\n\nCollateral Summary\n<::Donut chart titled \"Collateral Summary\" showing the following breakdown:\nMultifamily, 80%\nHospitality, 10%\nIndustrial, 6%\nOffice, 1%\nOther, 3%\n: chart::>",
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   "markdown": "<a id='dc73ce52-e259-49f0-b29a-737a0bee9dfc'></a>\n\nCollateral by State\n<::donut chart: Collateral by State\nTexas, 27%\nFlorida, 15%\nNorth Carolina, 14%\nVarious, 8%\nGeorgia, 7%\nNew York, 5%\nArizona, 3%\nSouth Carolina, 3%\nAll Other, 18%::>",
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 "markdown": "<a id='7f39e82d-f546-405d-acee-a0fdbcfd7caf'></a>\n\nPortfolio\n\nCore Loan Portfolio Composition\n\n<a id='ea3f0db8-7177-46d2-acd5-0e40ab6b4e35'></a>\n\n## Portfolio Overview\n\n$4.3B total portfolio;\n64.2% WA LTV (1)\n\n161 senior loans; average\nUPB (2) of $27M\n\n11 mezzanine loans;\naverage UPB (2) of $5M\n\n9 non-performing loans (3)\n\n<a id='0461e3f9-c660-4591-a0ca-1763f55d3bb2'></a>\n\nPortfolio Summary\n<::Donut chart titled \"Portfolio Summary\" showing two categories:\n- Mezzanine, 1%\n- Senior, 99%\n: chart::>\n\n<a id='4c0cb106-1da4-4d51-b363-7157a509fd5f'></a>\n\nRate Type\n---\n<::Donut chart showing Rate Type distribution:\n- Floating: 90%\n- Fixed: 10%\n: chart::>\n\n\n<a id='954c5317-5c97-4967-910c-34dcace15363'></a>\n\nCollateral Summary\n<::Donut chart titled \"Collateral Summary\" showing the following breakdown:\nMultifamily, 80%\nHospitality, 10%\nIndustrial, 6%\nOffice, 1%\nOther, 3%\n: chart::>\n\n<a id='d8e24f8a-34b5-4708-8ac2-0e3ace1b6ffc'></a>\n\nCollateral by Vintage\n<::donut chart showing collateral by vintage:\nPost-Rate Hike, 77%\nPre-Rate Hike, 23%::>\n\n<a id='dc73ce52-e259-49f0-b29a-737a0bee9dfc'></a>\n\nCollateral by State\n<::donut chart: Collateral by State\nTexas, 27%\nFlorida, 15%\nNorth Carolina, 14%\nVarious, 8%\nGeorgia, 7%\nNew York, 5%\nArizona, 3%\nSouth Carolina, 3%\nAll Other, 18%::>\n\n<a id='b64dbc75-f0d3-41cb-9ba2-4cf3911b1a15'></a>\n\n1. Weighted average loan-to-value percentage (WA LTV) represents the weighted average ratio of the loan amount to the appraised value of the property at the time of origination.\n2. Unpaid principal balance (UPB) represents the portion of the loan that has not yet been remitted to the lender.\n3. Five risk rated 5 and four risk rated 4.\n\n<a id='9c98545e-3058-4a23-8028-c1aa5785611e'></a>\n\nBENEFIT STREET PARTNERS\n\n<a id='62ced5f0-32e4-4358-94ed-43722d5a1560'></a>\n\n14",
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