Commercial Mortgage Loans

Senior Loan Origination and Asset Management

Our senior lending platform originates, acquires and manages commercial real estate loans
on behalf of our affiliated insurance company balance sheets as well as third-party clients.
We maintain one point of contact for borrowers with the integration of production and servicing.
We look to provide value added, risk adjusted investment yield by leveraging
our extensive market-specific knowledge and strong sourcing from a national network of correspondents.

General Lending Criteria*

	Fixed Rate	Floating Rate
Maximum LTV:	65% — 75%	65% — 75%
Minimum DSCR:	1.2x	1.0x
Minimum Term:	5 years	3 years
Maximum Term:	30 years	5 years
Index:	Treasury	30-Day Term SOFR
Prepayment:	Lock-out / yield maintenance	Lock-out / exit fee / open
Minimum Investment Size:	$5M	$10M
Maximum Investment Size:	$25M	$50M

Senior Mortgage Loans secured by a first priority lien on real estate
Will consider investments in metropolitan statistical areas ("MSA") with a population in excess of 200,000
Loans will be located in the U.S. and denominated in U.S. dollars

*There is no guarantee that one or more investments made on behalf of a client will exhibit each of the criteria described. Investment criteria for a particular client would be set forth in a written investment advisory agreement and/or other constitutional documents.

Selected Transactions

Bass Lofts

$17 Million Refinance with a 10-Year, Fixed Rate Loan at a 62% Loan-to-Value in a Class B+ Multifamily located in Atlanta, GA

Cerritos Corporate Center

$27.5 Million Acquisition Financing with a 15-Year, Fixed Rate Loan at a 55% Loan-to-Purchase in an Industrial/Flex Property located in Los Angeles, CA

Hidden River

$47 Million Acquisition Loan with a 10-Year, Fixed Rate Loan at a 65% Loan-to-Purchase in a Suburban Class A Office Portfolio located in Tampa, FL

Storage One on 4th

$5.7 Million Refinance with a 10-Year, Fixed Rate Loan at a 53% Loan-to-Value in a Self-Storage Property located in Seattle, WA

Pickwick Apartments

$9.62 Million Acquisition Finance with a 15-Year, Fixed Rate Loan at a 65% Loan-to-Purchase in a Class B Multifamily located in Jacksonville, FL

Roosevelt Gardens

$7 Million Acquisition Finance with a 10-Year, Fixed Rate Loan at a 70% Loan-to-Purchase in a Grocery-Anchored Retail located in Norfolk, VA

Chatfield Distribution Center

$11 million Acquisition Financing with a 6-Year, Fixed Rate Loan at 57% Loan-to-Purchase on an Industrial/Warehouse Property located in Littleton, CO.

West Dodge Hills Office

$18.8 million Refinance with a 10-Year, Fixed Rate Loan at 60% Loan-to-Value on an Office Property located in Omaha, NE.

The Flats Off Madison

$10.7 million Acquisition Financing with a 12-Year, Fixed Rate Loan at a 59% Loan-to-Purchase on a Multifamily Property located in Clarksville, TN.

Middle Island Self-Storage

$20.1 million Transitional Bridge Acquisition Financing with a 4-Year, Floating-Rate Loan at 75% Loan-to-Purchase on a Self-Storage Property located in Middle Island, NY.